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Think about purchasing a house with 0% interest, and no pre-set late fees. You possess the property as long as you pay and you know that 100% of the monthly payments is going towards your loan. But acknowledging the fact that the bank will share 10% of the property with you. tell me what you think of this!
i came across this as I was conducting a research on a local islamic financing institution in saudi arabia which deals with this types of loans.
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