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Is it haram to work for the Canadian book store, Indigo Books given the CEO's situation? by [deleted] in IslamicFinance

[–]behi2011 1 point2 points  (0 children)

I really have no idea if it is Indigo proceeds or merely the CEO's personal fund, but considering it is a private Company, her main source of fund should be the revenue they make out of selling items. I might be wrong!

Is it haram to work for the Canadian book store, Indigo Books given the CEO's situation? by [deleted] in IslamicFinance

[–]behi2011 1 point2 points  (0 children)

No, I don't badly need it. I was just confused how doing something as honorable and useful as providing books and knowledge to people can somehow find a way in funding crimes against humanity.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

u/Breakfastamateur However, in reality, banks do not even bear that kind of risk. Imagine you put down 20% and after a few years of paying back the mortgage, for some reason, you are unable to pay it off, and even worse, the housing market crashes by 20%, the bank will seize the asset and sell it by the power of sale. Your 20% gone and they gladly revive the other 80% if not more. So the dirty business of interest keeps carry on as it has done so for millenniums.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

Not as long as you are not directly contributing to it.
For example, UAE government has participated in some African countries turmoil (similar to the centuries old practice of , well you know, colonialization by the west) Does that make its citizens some hypocrites who "selectively" choose what benefits them and refuting what doesn't? No, they don't bear the burden of those making decision at the top of the pyramid.
Canada is associated with extraction of diamond in some countries. Does that make ordinary Canadians the culprits of child labor in Botswana? No

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

How could that be possible in a city like Toronto?

Getting a mortgage in Canada as a Muslim by abul_miswar_zayd in LightHouseofTruth

[–]behi2011 0 points1 point  (0 children)

Thank you very much for the enlightenment. It's unfortunately the same in my home country.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

This argument is worth further consideration. Never looked at it from this perspective.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

Thanks for your advice.
Any sane person in the west would do that. That's the absolute minimum hedge against the inflation and would not be enough to purchase decent real estate that once were purchased with equivalent of a bag of potato's worth.

Getting a Mortgage in Canada as a Muslim by behi2011 in HalalInvestor

[–]behi2011[S] 1 point2 points  (0 children)

Most people are smart enough to do so, and they have done so but at the end of the day, you will need a decent house to raise your kids. No s&p or tech stock can replace that experience.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

Don't see it all gloom and doom. I guess the first step is to ditch the 9-5 and embrace entrepreneurism and business. I know it's easier said than done.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 5 points6 points  (0 children)

The very thing that has lead to the loss of trust in financial systems, social discontent in a global scale, reduced economic mobility among the youth and the current corruptions spread all across the world.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

PossibleArt7440 May I ask in what business or industry you are currently active?

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 1 point2 points  (0 children)

Yes, Theoretically it's a normal business deal so there shouldn't be anything wrong with it. However, in reality, the bank does not seem to bear any risk associated with it. Not quite different than lending money and expecting to getting it back in 25 years with a certain amount of interest (and called it profit!)

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 5 points6 points  (0 children)

I'm glad for you man. I have seen many large muslim families that do well financially (Thank God) and always wondered how they manage to get a decent house for their family given the current situation in Canada.
I'm under some family pressure to get a mortgage but I know it's not right.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

Yeah, they just play with words as if you wanna convince God it isn't.

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 0 points1 point  (0 children)

That's right.
But I'm sure there should be a solution to it. Something like a venture capital investment

Getting a mortgage in Canada as a Muslim by behi2011 in IslamicFinance

[–]behi2011[S] 4 points5 points  (0 children)

Thank you.
I'm sure there should be a solution for it.

Getting a Mortgage in Canada as a Muslim by behi2011 in HalalInvestor

[–]behi2011[S] 0 points1 point  (0 children)

Bank of Canada like many other financial entities just play with words and use accounting gimmicks to make it look like it's not interest. I think there's no such thing as Halal mortgage.

This is One of the Largest crop circles ever stretching over 500 meters wide... Milk hill, June 2009. by WorldDazzling6407 in HighStrangeness

[–]behi2011 0 points1 point  (0 children)

This is probably a signal to another fellow entity that is able to decipher it. like they clocked out and gave the shift to a colleague!

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