SHARIA BANKING

ISLAMIC HOME LOAN MORTGAGE WITH BAD CREDIT HALAL DEBT CONSOLIDATION INDEBTEDNESS

ISLAMIC LOAN WITH POOR CREDIT SCORE

An Islamic loan for bad credit would in theory be aimed at a borrower whose credit score is bad to allow him to access funding that is in accordance with Islamic Sharia.

Halal financing with a poor credit score is a pure contradiction of Islamic finance which rejects any over-indebtedness based on usurious interest rates prohibited by Islamic sharia.

The very principle of Islamic finance is to prevent a borrower from becoming over-indebted by accumulating debts or by replacing debts with new financing.

In the event that a Muslim borrower faces a bad credit score, he will first have to clean up his financial situation before applying for financing based on Islamic finance.