Shariah-compliant car loans

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   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,

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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 Topic: Shariah-compliant car loans 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,

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 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.