EcoShan
December 13, 2008, 3:24am
28
Mirch:
There is more in my post than meets your eyes. :halo:
FAQ link is pretty interesting read , do you know Freddie Mac / Fannie Mae are major investors in Lariba. And the funds which Fannie Mae and Freddie Mac provide to Lariba are obtained by Fannie Mae and Fredie Mac all interest free and completely halal.
Read this in the the last FAQ of that FAQ section of the website.
“That is why we thank God for making Freddie Mac / Fannie Mae our major investors in addition to others in our community who have chosen to support this grass root community effort.”
And this is the logic given by Lariba to mix Riba with their halal finacing.
"Please understand that in order to finance 10 homes per month at $200,000 each, the company should have at least $20 million available every month or at least $240 million per year. This is a staggering number for our community to afford."
It is same reasoning given for mutah , since I am going to be away from my wife for 3 months and the chances are that I might sleep around so I am going to have a mutah.
Who has stoped Lariba to just finance only the number of houses they can afford too.
I went through all the FAQ’s of Lariba 2 weeks ago and i was shocked, astaghfirullay Fennie Freddie involved, haram haram haram lol then i read the whole system and got to know alhumdulilah its halal, and i really wish that this guy comes to Kunayda.