Islam Finance in Australia

Interest-free loans offered to struggling  Muslims


Gee wouldn’t we all like this oprion

Kiwi Muslims want to escape rent cycle

Updated at 8:20 am on 30 April 2015 Mohamed Hassan

An Auckland woman is rallying banks around the country to provide interest-free mortgages to Muslims looking to buy their first home.

Sara Jawadi said because interest was forbidden in Islam, thousands of Kiwi Muslims were having to choose between their religion and economic stability.

The 28-year-old moved to New Zealand 11 years ago, and now lives in Manukau with her husband and two young children.

“I’m not going back to Iraq anytime soon, and I want to create some sort of stability for my family,” Ms Jawadi said.

Like many migrants she said her family had struggled to escape the rental cycle.

“With rent, you’re not guaranteed that you can stay in that place for too long … we’re sort of trying our best to find an alternative.”

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