Yep, which is why I said these banks aren’t really shariah compliant afterall. It’s actually quite sad to those who are misled by their facade.
I don’t know about the societal benefits, but investing in a mortgage is very low risk.
What happens in a mortgage when you can’t pay for it anymore? Can you just end up selling the house and making the money back? Do you now own the house you have mortgaged from right?
Ahh no way! I thought they cracked the system. How does wahed differ from this then when they open up their bank?
Gold doesn’t have massive shifts in its value. In face it’s precisely the opposite that makes it a hedge against inflation
I wholeheartedly agree. Though I’m Ngl Islamic finance is so confusing and I’m not sure even how a student of knowledge let alone a layman could read the technicalities of how things operate - often these things are heavily drowned in legalise and/or technicalities