Shariah-compliant car loans

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   I understand that, under Sharia law, you can not charge interest on deposits or loans. So what I think is, you get a car loan, and you only need to pay the price ex-showroom formless share of 10% or 12% rates.This financing is a growing market worldwide, but is currently provided only a fraction of the resources needed by the industry.

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kristi.gill Members Profile Send Private Message Find Members Posts Add to Buddy List Starter Joined: 08 October 2010 Status: Offline Points: 4	Post Options Post Reply Quote kristi.gill Report Post Thanks(0) Quote Reply Topic: Shariah-compliant car loans Posted: 08 October 2010 at 3:30am
	I understand that, under Sharia law, you can not charge interest on deposits or loans. So what I think is, you get a car loan, and you only need to pay the price ex-showroom formless share of 10% or 12% rates.This financing is a growing market worldwide, but is currently provided only a fraction of the resources needed by the industry.

kashmir1 Members Profile Send Private Message Find Members Posts Add to Buddy List Starter Male Joined: 05 September 2009 Location: United Kingdom Status: Offline Points: 1	Post Options Post Reply Quote kashmir1 Report Post Thanks(0) Quote Reply Posted: 05 September 2009 at 5:50am
	Salam all, I live in the UK and wanted to purchase a car. I was wondering if you knew if any banks provided Shariah compliant car loans in the UK. salam,