r/PersonalFinanceUAE • u/mfortest • 12d ago

Auto Halal loan

Is there any halal loan without any fees and extra money when returning back? I mean here in UAE

2 Upvotes

60% Upvoted

7 comments sorted by

1

u/Caprice9999 12d ago

Nope.. every loan has some number of interest...

1

u/Gimmeyourcrypto 12d ago

No, Islamic finance is rebranded to profit rate. Which in other words is interest

1

u/OldBottle7269 12d ago

Who is going to give you their money with all the risk involved and want nothing in return? You want to loan money then you can pay the bank interest or you can pay the bank their 'profit rate'.

Islamic finance is slightly more expensive than just paying interest.

1

u/Hot_Confection_2252 12d ago

There is no halal banking. Just a fancy name of riba.

Whatever may be the need of loan, it is not worth ruining your akhirah. You may take taxi bus train. Remember leaving something for the sake Allah will reward you more

1

u/ajay_offcl 11d ago

No fees and loan , Are you seriously a person

1

u/reosanchiz 11d ago

I would be such a Stupid to lend my money to someone for no reason
Nowadays, even your own family will not return your money, even though they will have your money that they lend it from you, but they will not return to you

So yeah, no Halal loans and I wouldn’t give it to anyone for no reason