DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - urgent advice needed regarding islamic bank of britain home purchase plan

**Vikonbarius** · 01-20-2012, 04:35 AM

Salaam

To be honest, if it looks like a mortgage, behaves like a mortgage, smells like a mortgage, it's probably a mortgage no matter what you wrap it up as. Sorry, I know I haven't answered your question, but before you commit to an IBB home puchase plan, look into whether in reality, it achieves an interest free arrangement. After all, why do they benchmark against LIBOR if they're products are halaal?

01-20-2012, 04:35 AM	#2
Vikonbarius Join Date Oct 2005 Posts 433 Senior Member	Salaam To be honest, if it looks like a mortgage, behaves like a mortgage, smells like a mortgage, it's probably a mortgage no matter what you wrap it up as. Sorry, I know I haven't answered your question, but before you commit to an IBB home puchase plan, look into whether in reality, it achieves an interest free arrangement. After all, why do they benchmark against LIBOR if they're products are halaal?
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