Nov 17 2011, 01:42 AM
Even though still Islamic terms, bank still need profits.
Islamic just a terms and different meaning/method and bla bla. In the end who dont want to earn? so win win for both sides.
There is still a interests involved. But just turning around.
I lend you 100k you pay 100k after 5 years no riba added! Bank close down do what? ZzZz
Added on November 17, 2011, 1:43 am
QUOTE(Oldskolboyz @ Nov 17 2011, 01:14 AM)
As I know advantage only no late payment charges cause my friend paid his car loan once a year when road tax expired.. if the car don't have road tax I didn't know when/how he paid the loan.. Con, no discount given on early settlement cause selling price has been agreed.
Yep true as well. Islamic terms you are bind to the agreement. Conventional is flexibleAdded on November 17, 2011, 1:46 amMost muslim ppl that is strong at religious part all go Islamic.
For those just 50/50 does not matter.
End stories riba still have. But just a other word/turning make things sound like no riba.
This post has been edited by stevenryl86: Nov 17 2011, 01:46 AM
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