Jun 28 2010, 12:31 PM
QUOTE(deodorant @ Jun 28 2010, 12:00 PM)
The only islamic banking product I'm personally involved in is my islamic housing loan, and frankly I don't see any effective difference from a regular housing loan.
I still pay interest, only that it's named something else (profit sharing? can't remember).
My loan is still pegged to BLR, only that it's named BFR instead (Base Financing Rate).
Do you fully own your house or it's partially owned by the bank when you are still serving the loan?I still pay interest, only that it's named something else (profit sharing? can't remember).
My loan is still pegged to BLR, only that it's named BFR instead (Base Financing Rate).
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