What’s with trump in the background though. I see enough of this bigot elsewhere!
5 days ago | 18
Inshallah may Allah make this a reality asap in my lifetime and bring down the oppressive system of riba that has inflated house pricing through compounding interest.
4 days ago | 2
This is what I have been asking for, for years. In the UK we get absolutely scammed by so called 'islamic institutions' they claim to follow the bank of England rates, yet when you look at there sites the rates are double most of the time which is outrageous. They know they can charge what they like because it's apparently 'halal'. If what you're saying can come for fruition you won't make as much money but you'll get massive barakah from it because in all intents and purposes you won't be ripping of Muslims who have no other options.
4 days ago | 3
May Allah grant this reality for the betterment of society. The interest system is choking households and creating deprivation and poverty. God willing this will be a reality in the near future.
6 days ago | 4
Great effort...I doesn't consider current Islamic mortgages truly Islamic...lot of flaws... 1)it's 2 % expensive than conventional mortgages...which means you are penalized for following your belief..basic reason why riba was prohibited is because it makes poor even more poorer...Islamic mortgage make you even more poorer.. 2) The rental rate of Islamic banks are pegged with BOE interest rate...doesn't consider market rate 3) So called Islamic bank doesn't take any risks...if property value go down, we are still meant to pay back original price Basically what i feel is , current Islamic banks are just polished conventional banks with a higher rate...
5 days ago | 3
The very idea of ar-riba was the problem of how expensive one must pay their debt. So the existing sharia law implemented in sharia financing that caused the high cost, is the very ar-riba the sharia law was trying to avoid in the first place.
6 days ago (edited) | 5
May ALLAH bless you and your team in spreading islamic finance to all the households.
5 days ago (edited)
| 3
From a bird’s-eye view, conventional banking might seem cheaper at times, but interest (riba) can lead you to lose your house if you can’t keep up with payments. Interest rates also change with the economy, increasing your risk. Under Islamic (Sharia-compliant) banking, transactions are based on shared profit and loss, not interest. This means your investment is generally safer and less exploitative.
4 days ago | 0
So proud of you guys, may Allah bless with more reward, in this world and in hereafter :)
3 days ago
| 0
In essence anything to do with Sharia compliant is always more expensive. I wonder if we are being exploited by our brothers. Good initiative.
5 days ago | 2
and if you could manage to bring down the cost of islamic mortgage to less than the cost of conventional mortgage, it could perhaps even attract non muslims to pursue islamic mortgage to buy their homes, which could also disrupt the riba market
6 days ago | 2
IFG
The average Muslim family in Britain pays thousands more for their Islamic mortgage. And God willing, we're about to fix that Islamic mortgage premium forever:
Our home finance fund just passed £40 million.
For context, that's tiny in the grand scheme of UK mortgages.
But I think it might be the most important £40 million in Islamic finance right now.
Here's why.
The dream for the Muslim community in the UK has always been simple: get a house in an Islamic way that's priced the same as everyone else's mortgage. That's it. Not asking for much.
But the reality is that Islamic home finance has consistently been 1-2% more expensive. On a typical mortgage, that's tens of thousands of pounds extra. So Muslims face this horrible choice - their principles or their financial well-being.
What we're doing with this fund is actually quite straightforward. We're providing funding lines to Islamic home finance providers. We've backed Stride Up and Offa. And we've got plenty more in the pipeline.
The mechanism is simple: more providers mean more competition. More competition means better pricing. It's not revolutionary economics, but nobody was doing it at scale before.
The interesting bit is what happens next. Once we solve the pricing problem - and I genuinely think we will in the next 2-3 years - we can start innovating on the actual mortgage structure itself. Making products that aren't just Sharia-compliant copies of conventional mortgages, but genuinely better alternatives.
Maybe products that share risk more equitably. Maybe structures that work better for freelancers or entrepreneurs. Maybe even products that non-Muslims would choose because they're simply superior.
We're not there yet. £40 million is just the beginning. But when we hit £400 million? That's when this market fundamentally changes.
The path from "Islamic finance is always more expensive" to "Islamic finance is the obvious choice" - that path is actually visible now.
And that's quite exciting.
6 days ago | [YT] | 483