Shariah-compliant means following rules and guidelines set by Islamic law, known as Shariah. It’s important in various aspects of life, including finance. In finance, being Shariah-compliant means adhering to Islamic principles and avoiding things that are not allowed in Islam.
Ijara is a Shariah-compliant financial model that operates like a lease-to-own arrangement. Under Ijara, the financier buys the property and leases it to the home buyer. The home buyer makes monthly payments, which include a rental fee and an amount that gradually increases their ownership stake in the property. Over time, the home buyer acquires full ownership of the property.
Safa specializes in Shariah-compliant home financing options, providing ethical and transparent solutions that align with Islamic principles. With our expertise, you can navigate the financing process confidently and ethically, ensuring your financial journey aligns with your religious beliefs.
The property will be under your name, and the lender will have the mortgage. Islamic lenders must follow the guidelines of the Australian Taxation Office.
