Chapter
Halal Financing
30:45 - 36:44 (05:59)
The Muslim faith advises against traditional loans and halal financing is a mechanism blessed by village elders that complies with Sharnia law. Borrowers can pull from a pool of halal financing to buy a home, and it is a compliance or compliant financing mechanism that Muslims prefer to traditional loans.
Clips
Islamic faith discourages traditional loans and instead promotes shared risk agreements to avoid interest-based transactions.
30:45 - 33:11 (02:26)
Summary
Islamic faith discourages traditional loans and instead promotes shared risk agreements to avoid interest-based transactions.
ChapterHalal Financing
Episode#55 - Lead Gen Businesses, Islamic Finance & COVID-19 Virality
PodcastMy First Million
The transcript provides an introduction to the concept of Islamic and Challenger banks.
33:11 - 34:05 (00:54)
Summary
The transcript provides an introduction to the concept of Islamic and Challenger banks. Challenger banks are new startup banks that offer better digital access, quicker ability to get credit cards, and debit cards.
ChapterHalal Financing
Episode#55 - Lead Gen Businesses, Islamic Finance & COVID-19 Virality
PodcastMy First Million
A new mechanism of halal financing is being introduced for Muslims to buy a home, that is compliant with laws called Sharnia law.
34:05 - 36:44 (02:38)
Summary
A new mechanism of halal financing is being introduced for Muslims to buy a home, that is compliant with laws called Sharnia law. With $10 million committed from the investors' side and $1.2 million in the bank, this mechanism presents a pool of financing for the borrowees.