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**xFZ3k8Mw** · 10-25-2011, 04:34 PM

How about setting up a home loan system like rent to own. People collect money, give it to a person who is living on rent and needs to buy a house. The money can be given to him on installments. The organization can even earn from it.

For example, let's suppose a person wants to buy a house in Madinah. The house costs around 200,000 Riyals. 10 people form a consortium. Each one gives around 20,000 (which is not alot). Then they buy a house and sell it to the person who needs it on installments for around 250,000. The benefit is very clear.

If people are interested in forming this, I offer them to make me their first client

Very easy and nice idea. The only thing is that it should be structured properly and implemented in a Shariah Compliant way. If anyone want to write it out in a contractual form I will be willing to bring it to mufti saheb's attention for review.

10-25-2011, 04:34 PM	#8
xFZ3k8Mw Join Date Oct 2005 Posts 462 Senior Member	How about setting up a home loan system like rent to own. People collect money, give it to a person who is living on rent and needs to buy a house. The money can be given to him on installments. The organization can even earn from it. For example, let's suppose a person wants to buy a house in Madinah. The house costs around 200,000 Riyals. 10 people form a consortium. Each one gives around 20,000 (which is not alot). Then they buy a house and sell it to the person who needs it on installments for around 250,000. The benefit is very clear. If people are interested in forming this, I offer them to make me their first client Very easy and nice idea. The only thing is that it should be structured properly and implemented in a Shariah Compliant way. If anyone want to write it out in a contractual form I will be willing to bring it to mufti saheb's attention for review.
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