NO RIBA HOUSE FOR MUSLIMS FINALLY!! - , Pfida’s Home Provision Scheme

[@AliDawah]

Use the link below to apply and find out more. pfida.tv/findoutmore

[@flyingeagle5061]

Bro there's a 5 year waiting list to get home finance from Pfida. So this option is not really available to most Muslims. Back to square one.

[@waqarulshah7515]

@Alidawah brother ali needs dawah got stuck on 2.5% 😂 @25 mins. Just to clarify brother, there is no 2.5% because there is no zakat due if you invest with them since they are investing the funds you give into a property for rent InshaAllah. So any amount you invest with them there is zero zakat due from that amount.

[@tasfia.x5703]

Could you talk about how to finance your degree in halal way? Also could you promote on your channel to create a poll for the parliament to push the government to set up the Takaful system they have been promisig since 2013 since you have quite a large reach? Jazāk Allāh!

[@job2502]

This project only in UK and Dubai? Or it could be in any other country in EU with the same company? I'm interested to have something like that in Belgium

[@sina1436]

Brother can this be done if i want to buy a house here in USA?

[@MohamedAhmed-wc3pw]

The Prophet Muhammad (peace be upon him) said: “The two rak‘ahs before Fajr are better than the world and everything in it.” - (Sahih Muslim, 725) 🇵🇸❤🇸🇩

[@Allah_is_the_truth_123]

SubhanaAllah al adeem

[@Dolly3469]

Is it referring to the 2 summat before the fajr fardh. Or 2 nafal before fajr itself?

[@imaknexus]

I completed a home purchase with Pfida a few years ago, the transaction and model is the best out there (). These brothers are genuine, and their intentions are honorable, May Allah reward them abundantly. Game changers and trailblazers using the community to help the community.

[@wisamchaban1180]

Do they have office in the U.S

[@Abdul-qt2tm]

Can I get in contact with you @imaknexus?

[@asadshah5637]

Need to look at the contract, Pfida are guaranteeing their profits. Using the deposits. When the share holder doesn't need the property, what happens to the deposit. Is the deposit given back. If shareholder misses monthly rent are there any fines? Islamic finance emphasises on fairness, mutual consent, and risk-sharing, making the distinction between lawful profit and exploiting the shareholder.if I put 50k deposit for a home costing me 200k 10 years later I want to buy does my rent go into reducing the final payment? If I don't want the house my initial deposit is it given bk to me? As I've paid rent and u have benefited by keeping my share of the property.

[@gardenvariety-]

This is the most critical episode you made. Great value. I pray they succeed.

[@gopro9420]

When the brother said I have a resposibility to the community with the knowledge I have been given. Subhanallah was so beautiful and filled my heart with joy. That's what we need to be thinking as a community Ma Shaa Allah.

[@OmarSaeedButt]

May he continue on this Path and to remind himself to make sure it's not compromised.

[@holographist]

As an engineer with a finance education who has been looking for a long time for Halal solutions to buying a house, this is probably the best one I've seen. These brothers have removed debt from all transactions. Before people pile on and lump them in with other 'Islamic banks' (an oxymoron), understand that they are forgoing profit they are entitled to under Musharakah for the benefit of the customer when a house is sold above the original price. In fact, their venture is structured for the benefit of the community and abiding by the words of Allah swt rather than maximizing profit. The only critique I would have is to remove transactions in legal tender which is inherently based on fractional reserve, interest-based banking and instead transact in currency with intrinsic value (gold, silver, etc.) May Allah swt put barakah in the work these brothers are doing, and inspire others around the world to start similar ventures. Ameen

[@spawnnpwn4166]

But you missed a critical point. The brother mentions if the customer wishes to sell the property afterwards, they will inherit a share of the profit from the sale. That way, they (pfida) will always benefit from appreciating house values while also remaining Shari'a compliant!! Awesome tbh

[@thephantomterence9211]

Quick question 🙋‍♂️ If I am living in the property and paying the rent every month- am I buying more of the share of the property or my ownership stays the same when I went into partnership originally?

[@brightguy1969]

@@thephantomterence9211As far as I know u have to pay an amount for their share too on top of your rent.

[@spawnnpwn4166]

@@thephantomterence9211 You will have to pay an amount above the rent. Somewhere in the video, the brother gives an example of a 1000 dollars rental of which your rent is, suppose say 600. You can then set up an agreement where you pay 600 rent and an extra 200 for equity.

[@spidyman8853]

I see a light at the end of the tunnel for the Youth of today Alhamdulilah

[@IBRAHIMDeenUP]

Pfida needs a well done info-graphic video for financial lay people like myself

[@reemaalhabiba]

@Pfida I agree.

[@leillahluttakome4340]

JazakaAllah Khair for finding a solution in this sphere.May Allah make it easy.

[@alfatihsalih6984]

That’s the copy right 😂

[@mohammadnadeemsubratty8680]

I got a mortgage with Al Rayan Bank; I can tell you there is no difference between a conventional mortgage and a halal one. The rent they charge you is based on the Bank of England base rate, so you will end up paying more rent every month than your capital. In the end, you will end up paying more rent than the capital after 25 years. Be mindful and careful.

[@daee121]

But it’s halal the way it’s structured right? Don’t want to get into haram mortgages

[@realist2854]

Salam, tell me what does Al rayaan bank make it's money for its survival? It remodels riba in to "rent" which then allows the bank to profit. Halal or haram what ever you want to call it. All business need to survive and make Profit or else there wouldn't been a need

[@adeelas6916]

Ali dawah please please don't lead people down the lizards hole. There is absolutely no, no, no way on earth there is a halall islamic mortgage out there on the market today

[@user-eo8fw9hh1i]

Yes brother they're expensive but to go to Jannah you'd be better off paying that extra money 💰

[@adeelas6916]

@user-eo8fw9hh1i that extra money is riba simple as that In islam the formula is simple you give back the money you get that's it no if no buts

[@jordananzola8414]

This GENUINELY seems like a UNIQUE honourable place for me to put my money in the future I will look into it ali

[@BeNice_1]

Asa, Alhamdulilah we were able to purchase our home with Pfida. Our main aim was to find a halal product and avoid a conventional mortgage. Our experience so far (2 years since purchase): 1. Prior to our home purchase, we were renting so essentially paying off someone else’s mortgage. 2. We did not find the purchase process with Pfida too difficult or too complicated. I would note, our purchase was a couple of years ago and we had a very proactive solicitor acting on our behalf so this massively helped. 3. Pfida were transparent with the terms from the start and as such we were well aware of what we were signing up to with the part buy-part rent / diminishing partnership model and costs involved. 4. For us, comparing the Pfida product to a conventional mortgage wasn’t really a sticking point as a mortgage was not an option. That being said and to keep it short, Pfida offer quite good flexibility on repayments so if you have the means to increase monthly payments and bring your term down, then the overall cost of the home purchase does not end up being significantly more expensive when compared to a mortgage (this is based on our experience currently). 5. The rental payments so far have been very fair. Pfida have implemented the rent reduction that was offered prior to the purchase, thus, we are currently paying less rent when compared to the open market (taking our % ownership into account as well). Rent is reviewed annually, there has been a very small % increase (less than inflation) and in line with the contract so not a surprise for us. Our experience overall has been great. We felt Pfida was the best halal route to home ownership for us. The product offers us flexibility in payments, our goal is to pay the house off as quick as possible and we strongly feel Pfida is set up to facilitate this rather than angled at keeping us in a rent cycle for as long as possible. Finally, I would advise everyone to do their own research (both from an islamic and financial perspective). May Allah reward you all for your efforts.

[@mmaenthusiast7605]

As a Muslim who has tossed and turned in many sleepless nights thinking about what option to go through with when buying a house every option with our honourable shaykh Haitham had dads name stamped on it brings me joy and happiness Alhamdulillah. As long as the part rent side doesn’t cripple us when trying to pay for the rest of the house off, I think we should strive to make it work InshaAllah.

[@gcsparts]

When was the last time you tossed and turned about the meeting with Allaah and whether u gonna be in Hell or heaven. This world and all that it contains doesn't need worrying about..... U worry about the Hereafter and your situation Allaah will grant you what you need. In this life

[@mmaenthusiast7605]

Who are you to question another muslims’s intentions on their relationship with Allah? Yes our priority is always akhirah but if you are not able to keep your family in a decent environment for their well being then you will struggle to fulfill your duties to Allah. I have seen many single brothers with no responsibilities make your claims but after being married and having children they have Woken up to the challenges of life.

[@Kn1ghtr0]

The tossing and turning is because the brother needs a house but doesn’t want to displease Allah by doing it the wrong/haram way. This in itself is honorable.

[@eftshots7943]

This is big. May Allah grant all parties success

[@MohamedAyedary-kp3qj]

Ameen

[@-lk3yk]

Summa Ameen 🤲🏼

[@sukmaadhiw9033]

This is genius! How could we haven't thought sbout this already

[@spidyman8853]

AlHamdulilah what a great Ne'ma this has been bestowed upon us. This will solve the youngsters problems in Sha Allah. Well done guys. Ma Sha Allah these 2 guys are the Youth of the ummah who came with this great mindset. There is a light at the end of the tunnel.

[@jobhawkanxi5285]

Their concept seems like a really good idea

[@abdikarimhassan5740]

This is very interesting, and very useful for Muslims in the UK.

[@HASSANDARU]

They should really start this in Australia. I would back their business up. Smart genuine people

[@Ultradice3]

Agreed. As would I.

[@Themanhasnonme]

kzbin.info/www/bejne/r37YgWeGeNebhZosi=UdDeXPG8VAad7vLI Somebody else did start and scammed. This is our Muslim brothers. Shameful

[@RA-rz7sx]

This is huge for the ummah inshallah everyone should look to use this if you're a Muslim in the UK.

[@SDJ-Y]

All clear and crystal......may Allah reward you and bless you for your great work for helping your brothers and sisters who wish to own a property within halal means ❤❤❤

[@shmahmood95]

There is no sound from 36:05 to 36:35. Can you fix this please?

[@sifrsifr2202]

Quite an important part too.

[@The7HeavensRagnar]

A bit suspicious

[@alushabufluz3200]

No its there business idea that’s why its cut out “i think“

[@Info3three]

Thats true​@@alushabufluz3200

[@NLMon]

It’s the essence of how the system works and why they supposed to not go bust. Can the audio please be fixed. This is a crucial explanation.

[@mohammedkamran5407]

SubhanAllah I was very interested in when I saw this video and coincidentally I was on hajj on the same year as this brother in 2016 with my mum and family members. I will be looking into this insha’Allah

[@KalzR2]

SUBHANAALLAH!!! This is AMAZING!!! And an answer to a-lot of Muslims prayers to help buy their 1st home… 🤲🏻 bless u brothers! ❤

[@mka3525]

The brothers are doing a great service to the Ummah. May Allah bring success in their business. Another company to look out for is Stride Up, making it possible for Muslims to leave Riba completely.

[@usmankayani4777]

The product is well explained, doesn’t seem to have any complications. The whole activity is transparent, would like to invest or use them to buy the first house . Good work Ali Dawah brother

[@Dusty118]

It has to be said, this is by far the most wholesome and shariah-compliant product in the market. I like that we as a community have to invest our funds, help others, and then the community supports us to purchase our home! Allahuma baarik!

[@AMER.SEGEIR]

masya allah , we really need this kind of projects in Indonesia

[@gazzy2012ga]

JazakAllah for posting this..I really needed this, Allah swt has a solution for everything..Alhamdililah for receiving this on my FYP.

[@aaakza]

Very informative video. Jazakallah khair

[@Gary-v8]

Thank you for this Ali. May Allah reward you and the brothers.

[@dpbamail]

Thank you Brother Ali for doing this very interesting video. I am an american muslimah and I would love to learn how we can do the same in the US...this is the most fantastic business model that i have seen to date. These brothers should create a structured program to establish this in all muslim communities in the western world. May Allah bless you all and guide me to accomplish this. ameen.

[@Morpheus-q2i]

Voice goes out at 36:03 in the vid Brother. Not sure if you can fix or add subtitles.

[@atiqurrahman7260]

What happens if I need to repair the roof or replace the water tap. Will Pfida’s share the cost? If the answer is not, then I would have some concern

[@Dusty118]

Don’t forget, maintenance cost is different to risk sharing. Pfida partakes in the event of a loss in the property. In shariah, profits can be shared - not loss

[@atiqurrahman7260]

@@Dusty118 why would you not share the maintenance cost if you are actually co-owner? How does make it fare? If we are real partner in a business you should share the cost. I think is not really rocket science.

[@dxxnish7170]

@@atiqurrahman7260 yes they do share the cost! Skim through the 2 hour video presentation on Pfidaʼs channel (2nd hour is Qs).

[@dxxnish7170]

@@Dusty118 are you sure you understand what you're saying mate

[@Embun123-har]

Alhamdulillah, finally. We in Indonesia known this bank as Syariah Bank ❤

[@kiezasosa3173]

The one who deals with interest has declared war with Allah and his messager, enough said

[@amromohsen9038]

Do you think this is haram? If yes why if no why? thank you and jazak Allah

[@01zamzam01]

Sadly it seems that this is only for high net worth individuals... So most of us will still be stuck in a rut

[@DilipKumar-o6e5k]

It's a start tho right.

[@mohammedabdullah9245]

It's crowd sourced money, so if you and your family pool their money in together. Buy it all cash, that's what these lot do

[@hellolearningjourney]

Only last night I was advising my family to find means to get out of their mortgage and i was telling them how i was still searching for a trustworthy home finance product that aligned to proper shariah. Alhmdulillah, i woke up to find this video first thing this morning. Allahu akbar.

[@symbolicof]

There is an audio cut in the vid @36:30

[@IkhlaqAhmed-ir6tn]

what i understand is 4.7 return you would look 100 percent of it and divide by 40 to get 2.5 100000 divide by 100 times 4.7 = 4700 the zakat would be on the 4700 so divide by 40 to get 2.5 percent of zakaat so it would be 117.50

[@MuslimTours]

I do like this but you can't get the bank account unless your a high value investor. The savings account should be made available for the normal person

[@robertpetkes2495]

You can start investing from £100

[@dxxnish7170]

You can get IFA-credited, sign up and they send you an email so you can become one for free by demonstrating that you understand the product and any risks involved.

[@adm7812]

Bring this to Australia please. JazakAllah kheir

[@allesandra1987]

This is fantastic thank you Ali!

[@GERMANFORCE]

Dear muslims the truth is if you can't afford a house with your own money then it is your destiny not to get one in this life, banks will never ever offer you interest-free loans because it doesn't exist.

[@Eni6ma0.00]

With Islamic finance, the biggest issue we have is that the Islamic finance institutes charge 100% profit on the purchase price of the property and a shorter term. Problem comes in that your monthly repayment is massively higher compared to the normal financial institutes thus making it unaffordable

[@abdula-n4s]

Sounds good but if someone wants to change structure in house or change boiler or something how that will work?

[@erumsaba2338]

Very good question

[@AleahHona]

Without permission u can’t, u have to ask them

[@Btraain]

Let's push it together, muslims changing the game and taking over

[@ManSheikaliam]

There is an Audio cut @ 36:02

[@Blindbat0-0]

There’s a 5 year wait and you have to earn over 100k with Pfida

[@shaikrazi2495]

Brother Ali there is No sounds for 30 Sec at 36:03 to 36:34 can this be corrected please. Thanks

[@mokarol5852]

It’s a great initiative however is it regulated? Do you have mechanisms or protocols in place to safeguard customers deposit/investment.? in case the company goes bust or goes pear shape what happens to the invested money.?

[@AleahHona]

I had the same question

[@TheDragonaf1]

As usual what they don't tell you is that if you already have a house there is nothing you can do. If you do go with pfida it will be purchased on a buy to let. Also if your a first time buyer then that bonus is void. Finally it's a 5 year waiting list and you may not get your choice of house. There's also another company where the investors of the house also own the decisions relating to the house so no remodelling etc...withiut permission. And your buy back on the shares of the house will be minimal since you will be paying the "buy to let" price of rent plus an additional. I've had many many emails with pfida sadly for solutions. insha'Allah they will have a contract swap option in future but the british government unlikely to happen. Also you will still need to pay a product fee regardless. This is a good first step.

[@Ryuk-apples]

They dont tell you? They never claimed anything about people already having a house. The question was never asked. What bonus are you talking about

[@AleahHona]

The biggest issue is not being able to choose the house you want😅what if they give u a bad one

[@DIY2min]

Amazing. Wish you guys allow US participants

[@muhdsaber4314]

In the United States, you have Guidance Residential LLC

[@njjkbjbhj4471]

How do they calculate the rental rate Do they share in the costs for things like house insurance and roof repairs. Sounds good but I think we need more info

[@Ayztv]

Likely not as they would state it in charge in the lease agreement

[@AleahHona]

Probably via the market value of the area that others are renting! For your second question, dusty118 said the cost of maintenance and repairs are shared.

[@hellolearningjourney]

From what I read on the website, they give a discounted rental rate which is their way of covering major maintenance costs. Please correct me if im wrong anyone.

[@flyingeagle5061]

This is out of reach of most Muslims as there is a 5 year waiting list to get home finance. So for most Muslims it doesn't help with the immediate.

[@Ryuk-apples]

Please then come up with a solution that is immediate. The reason the waitlist is long is probably because the number of accounts with them is very little still so they can afford as many houses as there is demand for. Let go of the negativity, think about the future

[@chihabahmed5207]

so you are expected two people to solve the riba problem in like 1 year ?

[@flyingeagle5061]

It's not being negative but we shouldn't be delusional either. The average house price in the UK is £282k, even if you can put down a £30k deposit you still need £250k finance. So Pfida needs £1 million to finance 4 houses, £10m to finance 40 houses and so on. So you can clearly see Billions will be required in capital to meet the needs of all muslims that want to buy a house which isn't realistic. The few lucky people who get in early will benefit for sure but the rest of us won't as they will need a lot of capital.

[@flyingeagle5061]

It's a great initiative and InshaAllah it's successful so we can all benefit from it.

[@griefwnl7641]

@@Ryuk-applesexactly

[@harung1]

Sound is muted from 36:04 for a short while… please sort out brother

[@chopanjan]

Its a great idea, Allah give them success. I am ready like many others probably to purchase a house, but the wait is 5 years to be considered!

[@ManchesterIndoorCricket]

please fix the audio of a crucial response at 36:05!!?

[@GruntWork-lw7lo]

The rental prices soared in the last couple years mainly caused by rising interest rate, hence landlords raising rent and passing the liability to renters to keep up with the inflation. My guess here after listening, this system/product should be immune to any fluctuation in the economy

[@Truthseeker-o9d]

Mashalalh may Allah bless the project and grant it success

[@n88srn]

I lost audio at 36:05 did that happen to anyone else??

[@JKHAN313]

How is this any different from the commercial shared ownership ?

[@a.t3045]

What about admin fees? What about missed 'rent' payments, would there be a fine? Often I found the halal versions charge more than the haram banks interest. Please could you explain

[@JU0800]

Correct, it's still way cheaper to get a mortgage than acquire islamic finance. Once you do the math, but obviously, it's forbidden.

[@kaimekking505]

So if their savings accounts make 4,5% but they use the contents of the savings accounts to make more property arrangements (against no profit), then where is the funding for the 4,5% coming from, and how do they pay all their other expenses, especially the loss in future value of money as they wait a long time for the tenant to buy them out? It sounds like this has to become a growing piramide scheme for it to work long term, no?

[@algeriaicook6034]

To approach influencers is a clever marketing step.

[@firefly22134]

Are they FCA regulated though. That's the financial conduct authority. Every sector is regulated: Education: Ofsted Doctors: GMC solicitors: SRA Finance: FCA Estate agents: property ombudsman

[@firefly22134]

Infact I just googled their website, right at the bottom in watermark print they say homeowners are not protected by FCA, hence they are not regulated by FCA. this is concerning

[@ImSoEnviousGaming]

Go to the 29th Minute

[@AleahHona]

31:04 they said they don’t need to be & the FCA said they don’t have the mechanism. Basically they’re like a rental, which isn’t regulated

[@MrJOHN00171]

The audio cuts out at 36:03 until 36:34 for some reason?!

[@XYZ-l2f]

Brother Ali. I have a question. Who determines how much is the rent to be paid ?

[@AleahHona]

Probably the same market value as other rents in the area

[@hellolearningjourney]

Market value

[@bassemabdelhamid1377]

Is this available in the USA?

[@muhammadakmal8254]

UK only

[@victorhugoalvarez8619]

):

[@papyjunior4780]

Are you guys in Canada Montreal?

[@toonyinc4879]

uk only atm

[@Blackishwhite-ji4mm]

My question is, how will rent be reviewed ? Will it be reviewed each month as I will be paying for rent and equity share, Or will it be every year ? And will it be decided before the contract. And is it by fixed or varied amount ?

[@zeshanhussain9471]

Annual. And it’s varied depending on the rental market in your area. If the rental market goes up in your area by 2% in the year then your repayments/rent will also go up by 2%. They cap it at the maximum 5% per annum. If rents go down in your area the same logic applies.

[@jamsredhook6833]

May Allah bless you, this should be supported and promoted

[@karl2896]

Will the renting part be affordable renting?

[@Bigly]

no, it'll be similar to other houses of the same size in your area. However if you put down a hefty deposit, the rent should be lower

[@Themanhasnonme]

It’ll be the same as market rent of the similar property in your area but you’ll only pay for the percentage of house they own not for your part. If that makes sense.

[@Physocrusher]

​​@@Themanhasnonme which for most will be unaffordable compared to a conventional mortgage. In the longer term if one can afford the mortgage, why would they take up this shared ownership option, in reality most wont increase on their shares/equity in the property, purely due to the market rent rates that will be applied. As others have said this will suit the more cashed strapped buyers who can afford a higher deposit. It'll be interesting to read further into the T&C's of the agreement for things such as repairs and maintenance and if this will split based on ownership or onus on the customer as they're living in the property

[@Tarantella1924]

@@Physocrusher if it’s a shared ownership which is likely, you pay for all your repairs even if you own one share. Plus you can’t do any work on the house or garden without their consent. I recently got declined when I asked if I could put in solar panels.

[@Physocrusher]

​@@Tarantella1924another few reasons why these schemes end up being not practical on top of the affordability

[@FantaLilt]

SubhanAllah. I am uneducated but I can see right through them. Not FCA regulated means they have no accountability. I wouldn’t go anywhere near these people.

[@Londonholidaylets]

Sound went @ the most important bit 36:06 when he talks about a separate entity on in the house please fix the sound not cool

[@MuhammadKhan-rx3um]

How is different from shared ownership already out there? Apart from repayments are named as rental rates.

[@hellolearningjourney]

Different because if you want gradual ownership of the home, you pay the original cost of the home and not the market value at the current time. Also, if you cannot afford to pay rent, your equity covers the rent. There is huge flexibility in the payments of the gradual ownership as well.

[@minasadria3480]

May Allah guide the Muslim ummah to get out of riba and debt before they die.

[@kbahmed7072]

What if you already have a mortgage, but want to move to pfida?

[@rummrrummma8934]

So essentially they are the same as shared ownership but they label it as “Islamic”…..

[@ibrahi1002]

I imagine that they benefit from expensive rental payments equal to the current market prices which is usually based on mortgage payments. Once the customer decides to pay the rest of the share and own the house completely, the company will get back the money from the customer. Until you buy the whole share, each time you pay rent, it goes into the pocket of the investors and the company.

[@AleahHona]

Exactly!

[@Uthopemus]

When are they starting operations in the US?

[@Ni-Ti-Fe-Se]

Insha'Allah if this is actually halal, then let this be more successful than all the riba banks put together.

[@NanoAlawi]

I think this model should be adopted in other western countries where Muslims live (and even for non-Muslims). Honestly the benefits extend to the whole society ❤❤❤ Jazakum Allah khairan

[@dapopo1249]

Why is it muted at the end? Is this deception?

[@Not2close786]

Genuine question, how is this different to gatehouse. They give you option to buy equity or rent only. Really appreciate a genuine answer from industry experts or pfida rep

[@mizrahman4673]

I wondered the same thing

[@generalali7609]

What is the rent based on? For example, if I put down $50,000 on a $100,000 home what would my cost of rent be? I think this might be the catch. Let’s say rent is set at the same price it would be for interest, wouldn’t it be the same thing? The amount on returns of interest might be less than what rent is even. For example, if my mortgage would be $1000 a month, that is principal and interest but rent is $800 a month but I own 50% of the home that would make it more expensive than a mortgage even though it might be Islamic. I would like to see a comparison of what would the cost be after 30 years of payments. Will the buyer actually be paying less or the same amount due to a high rent price?

[@robertpetkes2495]

They calculate the rent based on the market value, property type etc. If you owe 50% and the market value for the property you chose is £1000, then the rent you need to pay is £500 a month.

[@generalali7609]

@ rent is usually higher than mortgage rates so if rent at a place is $2000 but mortgage would be $1200 and you own 50%, does that mean you pay $1000 a month or $600 a month? Because if you pay $1000 a month , that $1000 gets you nowhere close to paying it off and it’s only $200 less than a mortgage. Let’s say you pay 10% so you own 10% of the home. Does that mean your rent is $1900 a month before you can even start to pay anything off? Let’s say you get a mortgage with 10% down and it’s $1200 a month in payments. You could add $700 a month towards your principal but with the Islamic one you would have to pay $2600 plus to start paying down your mortgage.

[@aliyaandhaider]

this does sound good, but the waiting times I have been told was 5 years and even then it's not guaranteed to be be accepted to buy a house

[@The7HeavensRagnar]

Why is sound muted from 36:06 - 36:34 ? 🤨

[@AjayTaylor-tg7wi]

Me too i thought it was just a glitch on my phone

[@ImranAlighost]

What happens to your savings in your pfida bank account if pfida goes bankrupt

[@Bubberltd]

Why is the audio muted from 36:05 onwards thats what i wanted listen too

[@zimoi1]

FYI Pfida was originally known as Primary Finance

[@naheemakhtar779]

im on benifits with a disability illness and i rent private with housing benifits payin rent.how dos tha work for me

[@arsalanmustafa1563]

Pfida ❤ Ps 36 mins sounds drops out for a while when sheikh Salman is speaking

[@uxoriousss]

This is Revolutionary!

[@tariqmamood286]

Because pfyda is not FCA regulated hopefully they won't ask me where all the cash came from. Lol 😂

[@a.m3478]

So basically they are landlords of a percentage and have none of the responsibilities of a landlord. Say the house price is 300k and they contribute 250k, they earn 1000k a month whilst that 250k remains invested in that property without any threat even in falling markets. I guess if the party that is buying the property with them has more than enough income coming, they could eventually save to buy the house out right, if not it will remain as a for ever debt.

[@HakiMaths]

When you put your money in the saving account and this money is used to buy property, I understand that you obtained shares from the house. But what if the house is destroy, do you lost your money in the saving account also??

[@JU0800]

You see, there is a product on the market called buildings Insurance which you pay monthly and your property is covered if any damage occurs. This is offered by conventional banks at the time of signing a riba based contract. I believe you can apply for this standalone.

[@faisalhanif4241]

I don’t understand why there is an obligation on the Buyer to pay rent to the other partner in the first place. why is it necessary? Can you and your partner just buy the house outright without the stipulation in the contract to have one partner pay rent to the other or buy the shares of the other. Will the partnership agreement still be valid in this case? Of course, after the house is bought both parties can decide what to do next. They can either decide to rent the house out to a 3rd party, or wait for it to appreciate in value and then sell it, all the while sharing in the expenses. There is one contract for the joint purchase of a house and another seperate contract for leasing, but both contracts should not be contingent on one another. why must one partner be obligated to pay rent to the other, that is my question. Please share your thoughts..

[@MukadisAymen-ui8fy]

Masha Allah this is very good news for Muslims living in the Western countries America

[@theepicologist8811]

Guys, this is all BS word salading from these two individuals unfortunately ! Take it from me as someone who done a masters in Islamic finance from the Markfield Institute in Leicestershire, and a certified Shariah auditor (CSAA) with the AAOIFI!

[@a.t3045]

I've found that alot of these halal providers charge monthly admin fees which are more than the interest in haram banks

[@AvoidtheGrey]

​@@a.t3045that doesn't make it haram - like paying more for halal chicken compared to haram.

[@AvoidtheGrey]

Can you explain why? Otherwise it's just your word against theirs. But they are relatively known and have been approved by Shari'ah councils and individuals within Islamic circles.

[@theepicologist8811]

@@AvoidtheGrey well for starters, they charge ridiculous amount of fees which is unacceptable. Using rent/profit as euphemism for interest rates is lazy marketing and getting boring as well. I’m also part of this “Islamic” finance echo chamber ,albeit I am not in the liberty to reveal my identity. I pretty much know most scholars and practitioners in this industry operating in the UK. I’m always debating them on WhatsApp with some of the senior scholars as well. Again, without mentioning names because of confidentiality I am not blowing hot air. It doesn’t take a genius to google or chat GPT why Islamic finance is a total sham.!

[@theepicologist8811]

@@AvoidtheGrey you seriously need a crash course on understanding the basics of finance and economics vis a vis interest based Banking, before delving into so-called Islamic finance niche! If you cannot tell the difference between halal Chicken, and charging interest rates via the back passage by using euphemisms like profit and rental income, then do not talk about something you don’t have any knowledge about! All due respect

[@ahmadmohamad6384]

Pfida ceo shapes his beard up and shortens it. If you love Muhammad (SAW) you will follow his Sunnah.

[@FulanFulan22]

Why is there no sound at 36:06 🤔