Sheikh. This subject is of profound importance to the protection of one's imaan. Im from the UK. The facilities out here are so hard to access because of the entry requirements means I'm battling in my mind Constantly. I need to get a home for y wife's sanity but dont want to get an riba loan. Are there Islamic firms outside the UK that may support me. I pray to Allah swt not to involve me in riba but no doors are opening. I'm haven't walk through the riba doors yet, but I am getting disheartened and need support so I don't have to. Is there a firm out there that can make the entry requirements to a halal mortgage/loan at least with par with normal banks. Need guidance. There are so many like me in need of help Alhumdullilah so many Muslims are now conscious of this War with Allah swt.

I believe it is a need for Muslim who lives as minority in non-Muslim society, but the fake Islamic financials like Guidance will prevent a true Islamic product to come to market. It is worse than the conventional for buyers, most funny part of the deal is that they say they will be partners, but I should pay 100% of the tax+insurance with his profit, and in case of foreclosure they disregard my share percentage in the property, and the only thing matters is the loan amount. I have many of my friends they regret it. And says their mortgages are sold out to conventional banks with conventional bank terms. I don’t want to buy it through a fake Islamic product in the market.

Ameen. I would say the main challenge is educating the Muslim consumer regarding the need for Islamic finance. Generally speaking in most jurisdictions there are no significant hinderances for Islamic finance as long as customers support it. We also have to realize that there will be some extra costs to Islamic finance when they compete with huge institutions who benefit from economies of scale. These extra costs lessen as Islamic banking grows but in all cases Islamic banking involves more costs and more risks when compared to conventional banking. I don’t think conflicting fatwas is an issue. Actually it is useful and provides more flexibility as long as the fatwas are based on a proper understanding and proper respect for one another. I have seen fatwas that are distructive bad which undermine Islamic finance institutions and the international scholars who approve their products. This is definitely counterproductive. Regarding this issue , in my opinion it is best to follow international standards (such as those issued by AAOIFI) and / or sharia standards issued by country level fiqh councils (such as the SAC of Malaysia) where there are problems that cannot be solved using the AAOIFI standards but the solution can be found in the country specific standards (like the Malaysian SAC). Hope that helps. Biltowfiq

@@omegared10 JazakAllahu khayran!