. . . . . .. . the deal just got too good to be true. gulf n first community banks have this type of mortgage product,where,assume you want to own/construct a house. obviously you have a plot with title,the bank(s) assesses and quantifies the cost of construction. you contribute 20% of the total,while the bank contribute the rest 80%. the bank owns the house until you clear all the balance,on reducing balances. the tricky part is that the 80% for the bank represents the actual amount,no interest. even if you clear after 15 years,you will be working with the initial amount.

two pertinent issues arise - commercial banks exclusively makes money through interest,how do these islamic banks make theirs,if charging interest is akin to crucifying Moses?

secondly,christians are also eligible to these mortgage loans (products),is there any hidden agenda,have they foreseen instances where all mt kenyans will flock their branches to get these priceless loans?

i was tempted to put up homes on my one acre plot in runda using this arrangement. but pause a minute,i have to get views and ideas from fellow skerians before i tie my own kitanzi.





mwana wa kahii. . . . . .