Nowadays people throw around darura (necessity) and abuse it. “I want a nice house so I’ll take a mortgage… I need student loans, car finance — all with interest — “it’s a necessity.” But is that really darura?
Discussion
Or my favorite "we need to take out loans from the IMF and World Bank to increase production!!!"
💯. Or we will use to build our infrastructure.
It's allover the place.. "it's an investment in our future"... How?
Nah! It's gambling the future. You wouldn't play that risk in terms of the akhirah. No difference here.
Precisely! And they're multi-decade shackles in the dunya. I have so many friends who got into 25-year mortgages, and they periodically renovate their homes too to accommodate to life changes.
Why? I can pay exactly for what I need in a rental, and if I need to a different place, I find it, rent it, move to it. It cost more maybe in the short term, but with buying bitcoin instead of paying mortgage, I can end up with both wealth and a home eventually.
Yeah, not a fan of those "halal" mortgage companies. That stuff is s death sentence
It'd be great if at least they made a effort to "halalify" the loan; however superficial this halalification is. Most people here just got with your run-of-the-mill banks. Of course, the banks claim halal loans by rubber-stamp fatwa from a known sheikh.
I wish one day to be a fly-on-the-wall in a meeting with such sheikh, and I wanna see the mental gymnastics the bank plays to convince the sheikh that their product is halal. 😂