Blog: Why Junaid Wahedna Left Wall Street to Revolutionise Islamic Finance: The Story Behind Wahed

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3 comment(s). Last comment by DickyMe 2024-06-29 23:54

DickyMe

14,892 posts

Posted by DickyMe > 2024-06-29 23:48 | Report Abuse

".... in his mission to eliminate interest from Muslim lives worldwide."

A simple Islamic home loan for RM500,000 for 30 year tenure requires monthly repayment not less than RM 3100 at profit rate ~4.00% +-0.50%. Assuming a person completed successfully the monthly dues. After the 30th year, he would have paid RM 1,122,480. If he had bought cash, he would have saved RM 622.480.Another name for Interest is PROFIT 😏

DickyMe

14,892 posts

Posted by DickyMe > 2024-06-29 23:52 | Report Abuse

How many can afford to pay RM3000+without fail for 30 years?
No ups and down in personal life, work life? Business growing exponentially?
Economy always in the pink? Politics stable, harmony like in LALALAND?

DickyMe

14,892 posts

Posted by DickyMe > 2024-06-29 23:54 | Report Abuse

First of all, not many earn more than RM3K.
The politicians have ruined current generation's ability to own a home.

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