#ijarah

Islamic finance, a system that adheres to the principles of Islamic law (Shariah), has garnered significant attention in the global financial landscape. One of the most distinctive features of Islamic finance is its prohibition of interest (Riba), which raises an intriguing question: How does Islamic finance make money without charging interest? This article delves into the various modes of…

Terjemah Fathul Qorib Fasal Ijarah

Dalam fathul qorib, mushannif menjelaskan tentang ijarah atau akad sewa. Pada fasal ini juga beliau (mushannif) akan menjelaskan aturan dalam akad ijarah. Berikut adalah terjemah kitab fathul qorib fasal ijarah. Terjemah Fathul Qorib Fasal Ijarah Pengertian ijarah adalah kontrak atas jasa (manfaat) yang diketahui, memiliki nilai ekonomis, dapat diserah terimakan dan dilegalkan syariat dengan…

Pengertian Ijarah dan Contohnya

Pengertian ijarah secara bahasa (lughat) adalah nama upah atau ongkos. Sedangkan pengertian ijarah menurut syara’ adalah akad atas manfaat (jasa) yang sudah di ketahui dan sesuai maksud, dan dapat untuk di serahkan (pada orang lain) dan boleh digunakan dengan membayar ganti (ongkos) yang jelas. Penjelasan pengertian ijarah Akad: yaitu ijab dan qabul. Atas manfaat (jasa): Terkecuali dari transaksi…

All economic and financial contracts in the framework of Islamic finance have to conform to the Shariah rules, with the objective of helping to achieve the well-being of people in the worldly life as well as in the Hereafter.

Islam forbids interest-bearing loans, so Muslims may prefer to seek a halal alternative when purchasing a property. There are a range of Islamic mortgage alternatives available, allowing buyers to get on the property ladder while being sharia-compliant.

What is a mortgage in Islam and how does it work?

Sharia-compliant mortgages are really ‘mortgage alternatives’ and function as no-interest home purchase plans. Though there are several variations across the market, all work in the same basic way: the bank buys the property on your behalf and becomes the legal owner. Your monthly payments function more like rent, with a portion going towards buying out the property owner’s stake. At the end of the term you should either have bought the property back, or have an outstanding sum left to settle before you become the legal owner.

Types of sharia mortgage

The three types of halal mortgage alternatives are:

Ijara Musharaka reduced Murabaha