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AUSTRIA ISLAMIC MORTGAGE WITHOUT RIBA

AUSTRIA ISLAMIC MORTGAGE WITHOUT RIBA

WHAT IS IN AUSTRIA ISLAMIC HOME FINANCING WITHOUT INTEREST ?

In Austria, an Islamic mortgage without Riba is a home financing arrangement where the financier does not charge conventional interest on a cash loan. Instead, the bank or institution structures the deal as an asset based transaction, earning its return through profit on a sale, rent on a leased property, or a share of investment profits in a partnership with the buyer.