Discover insightful articles and expert advice on Islamic finance, wealth management, and financial empowerment for Australian Muslims. Explore Afiyah's blog for valuable tips and inspiration to take control of your finances and build a prosperous future aligned with your faith.
Islamic Home Loans with Ijarah: Understanding Rules Governing Lease Rentals In the realm of Islamic finance, one financial instrument has gained prominence in facilitating homeownership: the Ijarah lease contract. As interest-based transactions are prohibited in Islam, Islamic financial institutions have developed Shari'ah-compliant tools for lending and leasing, such as the Islamic Home Loans with Ijarah […]
Introduction Have you ever wondered about the Islamic home financing option while shopping for your dream house? Especially in Australia, where we observe an increasing trend in the acceptance of Islamic finance products, it's essential to understand this model. The aim of this article is to help you comprehend what Islamic home finance is and […]
Choosing a new home is no small feat, especially when considering the multitude of factors that influence your decision. For Muslim parents in Melbourne, a significant consideration should be the proximity to one of the city's highly-regarded Islamic schools. This choice isn't solely about convenience; it aligns perfectly with several key principles of the Islamic […]
If you're over the age of 30 and seeking an ethical, financially secure solution for your next car purchase, then the world of Halal car finance in Australia might be just the ticket for you. In particular, you might find a financing method called Murabahah, a common practice in Islamic finance, to be your ideal […]
Islamic financial institution like Afiyah Finance is the best option for Muslims depending on individual circumstances and personal beliefs. Islamic financial services, which adhere to Shariah principles, are designed to be compliant with Islamic law and avoid interest-based transactions. They often involve profit-sharing or rental arrangements instead. Muslims find these services to be a more […]
Gharar, also known as excessive uncertainty, is a concept in Islamic finance that refers to the presence of excessive ambiguity or uncertainty in a contractual agreement. It is considered undesirable because it can lead to unfairness, exploitation and disputes. In this blog, we explain everything you need to know about Gharar. What is Gharar? In […]
In Islam, Riba refers to the prohibition of interest or usury. The term Riba, derived from the Arabic word 'riba', means an increase or excess. It is considered unlawful and prohibited in Islamic finance and economic systems because it involves charging or paying interest on loans or debt. Riba is based on the principle that […]
Islamic finance contracts are agreements and contractual arrangements designed to comply with the principles and guidelines of Shariah law, the Islamic legal framework. These contracts are used in Islamic finance to facilitate transactions and financial activities that adhere to Islamic principles, which include the prohibition of interest (riba) and the promotion of ethical and socially […]
The Islamic financial system refers to the framework and practices of finance that are under Islamic law, known as Sharia. It is based on principles derived from the Quran and the teachings of Prophet Muhammad (PBUH). Islamic financial institutions offer a range of products and services that comply with these principles. Some common Islamic financial […]
Dhul Hijjah is the 12th and final month of the Islamic lunar calendar. It is a significant month for Muslims worldwide, particularly because it is the month during which the annual Hajj pilgrimage takes place in Mecca, Saudi Arabia along with many other important religious observances. Dhul Hijjah is considered sacred and holds great religious […]
