I just started to do some research regarding buying a house. What banks/ companies can you recommend which comply with the Islamic law of mortgage, so that I can avoid paying interest. A lot of people are recommending Guidance Residential. Are there any other good ones that you can recommend? Also, what do u think abt this company?
JazakAllah Khair .
الجواب وباللہ التوفیق
At this time, to our knowledge, the only bank with Islamic Banking option to procure a loan for purchasing a home is Devon Bank located in Chicago, IL. Their contract has been reviewed and approved by the ulama of Shariah Board of America.
فقط واللہ اعلم بالصواب