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Maybe I'm misunderstanding you. But mortgages exist in lots of Muslim majority countries. Are you really suggesting that Muslims don't take on debt? You can ta
by 7Z7 10y ago
Maybe I'm misunderstanding you. But mortgages exist in lots of Muslim majority countries. Are you really suggesting that Muslims don't take on debt?
You can take out a mortgage in Saudi Arabia, Jordan, Bangladesh, Morocco.. They were the first four I checked.
- mkaziz 10y agoGP is referring to the fact that interest is forbidden in Islam. However, you can still get interest-based loans in Muslim countries. They're just branded differently.
- 7Z7 10y agoSo GP's point is invalid than, no? Muslims take on debt and business loans regularly.
- lukasm 10y agoYou can something similar to mortgage or credit in UAE as well, but being late on the payment has devastating consequences. http://www.dailymail.co.uk/news/article-2194633/Luxury-high-performance-cars-left-abandoned-British-expats-fear-jailed-debts.html http://www.dailymail.co.uk/news/article-2194633/Luxury-high-... It has consequence for enormous part of a life. For example, I was traveling using metro in Dubai. I had 5 dirham on my travel card and the trip I wanted to take costs 3 dirham. I couldn't enter the train, because the maximum charge is 8 dirham, so I could have negative balance.