INDIAN HALAL HOME LOAN WITHOUT RIBA
In India, an Islamic mortgage loan without interest in India is defined by a way for a Muslim family to acquire or occupy a home without entering into a conventional, interest-bearing housing loan.
The Indian halal home loan is different than the conventional mortgage, instead of borrowing money from a bank and repaying it with Riba (interest), the family participates in a Shariah-compliant structure in which payments are linked to a real property asset through trade, leasing or partnership contracts.
Profit for the financier arises from rent, mark-up or shared profit – not from charging interest on the outstanding principal.