Understanding the concept of Islamic Charities

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• Understanding the concept of Islamic Charities

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• About Two million Muslims in the UK face a moral
  problem assuming that they need a contract or
  loan and mortgages. Ordinary contracts and
  credits all require the installment of investment
  and "riba" as premium is called under Islamic
  law, is illegal by the Koran. Islamic
  Charities and banks that follow the rules of
  Islamic law come to their rescue. British fiscal
  foundations or banks are progressively providing
  food for Muslims' pro needs through various
  elective courses of action that regards the
  teachings of the Koran.

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• Ijara with lessening Musharaka - the contract
  elective, is an Islamic Charity to a traditional
  UK contract and has been embraced by some British
  banks and building social orders. Musharaka
  implies association. Under this Islamic fiscal
  thought, the bank purchases the house and
  legitimately comes to be its holder. At that
  point, all around the pre agreed period, say 25
  years, a regularly scheduled installment is made.
  Every regularly scheduled installment
  incorporates a charge for rent and a charge that
  purchases a minor extent of the house itself. It
  is manifestation of variable imparted value want
  to the extent of the house being claimed by the
  buyer, relentlessly expanding as installments are
  made.

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• When the last installment has been made, the
  house is claimed altogether Ijara Alternate high
  road banks, are improving a unique run of Islamic
  Charities under the Amanah mark name. This run
  incorporates home fund plans, home protection,
  business account, and different current accounts
  and annuities. The Islamic Bank of Britain has
  three limbs in London, two in Birmingham and one
  each in Leicester and Manchester. They are the
  main British bank explicitly accommodating Muslim
  clients and claim to be halal all around their
  operations. All their fiscal items are sanction
  by their Sharia'a Supervisory Committee - Muslim
  researchers who are specialists in all parts of
  Islamic money.

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• Thank You
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