QUOTE(vong @ Nov 15 2011, 06:02 PM)
Hi,
My colleague met up with Say Chin, UOB from Shah Alam also told them the same team, I'm in a total shock.
Anyway, just a advice, you can take any loan just try to avoid islamic loan.
Good luck.
Hi Vong,
Eventhough you a successful banker, mortgage specialist etc
There is nothing wrong with Islamic Banking. It might be the clients especially non-muslims are not really familiar with true Islamic concepts or maybe we are not educated enough about the Islamic financing concepts.
Ok, for those who like to know well about Islamic financing, there are few agreement related with financing for example Musyarakah Mutanaqisah (Partnership), Ijarah (leasing), Bai Bithaman Ajil (Sale & Purchase) and many more...
Each agreement/concepts play their own role..I believe you is talking about Bai Bithaman Ajil (sale & Purchase agreement). Actually, there is no uncertainty. It is an agreement which customers agreed to purchase the property (after plus banks profit) normally the banks use 'Capping Rate/Ceiling Rate' as the purchase price. Actually it is better for customer know what they are doing. For example, they know total amount payable at the end of tenure while conventional banks never reveal how much total payable amount at the end of tenure.
Islamic finance is good for us (for muslims and non-muslims as well) because we must know what we are doing and base on negotiation (for win-win situation). You need to learn more before ruin something you do not familiar or skilled.
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