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That's a good idea. It's called "Musharaka al-Mutanaqisa" and is a form of Islamic banking and finance. "An innovative approach applied by some banks for home
by meric 10y ago
That's a good idea. It's called "Musharaka al-Mutanaqisa" and is a form of Islamic banking and finance.
"An innovative approach applied by some banks for home loans, called Musharaka al-Mutanaqisa, allows for a floating rate in the form of rental. The bank and borrower form a partnership entity, both providing capital at an agreed percentage to purchase the property. The partnership entity then rents out the property to the borrower and charges rent. The bank and the borrower will then share the proceeds from this rent based on the current equity share of the partnership."
https://en.wikipedia.org/wiki/Islamic_banking_and_finance https://en.wikipedia.org/wiki/Islamic_banking_and_finance
- jpatokal 10y agoWhy the downvotes? That sounds very much like the OP's idea.