In response to recent media reports to relax the criteria for affordable home financing, the Association of Islamic Banking Institutions Malaysia (AIBIM) reaffirms that the Islamic banking institutions will continue to provide home financing facilities to eligible customers through the various financing schemes offered by its members.\u00a0<\/p>\n
\u201cIslamic banking institutions have been providing financing to ensure customers have continuous access to home financing. \u00a0As at May 2017, a total of RM14.25 billion has been approved by the Islamic banks for the purchase of residential properties. \u00a0This represented 37.3% of the total Islamic financing amounted to RM38.2 billion\u201d, said AIBIM\u2019s President Datuk Mohd Redza Shah Abdul Wahid, who reaffirmed the commitment of its members in providing home financing to eligible customers.<\/p>\n
\u00a0Islamic banking institutions also offer various types of home financing products to cater for different needs of specific market segments, such as the government servants – nurses and arm forces; rural and urban lower income groups; and young urban adults. The products are offered based on various Shariah contracts namely Tawarruq, Musyarakah Mutanaqisah and Murabahah.<\/p>\n
The responsible financing guidelines are in place to protect the interests of home purchasers who were extended the financing by ensuring that they have the capacity to honour their financial obligation. \u00a0This is to ensure that these customers do not fall into financial hardship in the future.<\/p>\n
AIBIM strongly advise all potential house buyers to approach the banks for any financing advisory assistance. \u00a0 \u00a0 \u00a0<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
In response to recent media reports to relax the criteria for affordable home financing, the Association of Islamic Banking Institutions Malaysia (AIBIM) reaffirms that the Islamic banking institutions will continue to provide home financing facilities to eligible customers through the various financing schemes offered by its members.\u00a0 \u201cIslamic banking institutions have been providing financing to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-778","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=778"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/778\/revisions"}],"predecessor-version":[{"id":5425,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/778\/revisions\/5425"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}