Discover Amazing Deals With Auto Auctions

Auto auctions are a great place to find a great deal on a car. These auctions allow banks, police, and loan companies to sell cars at very unbelievable prices below their market value. Repossessed cars are more of a hassle to companies because they lack the storage capacity for these vehicles. Many more new cars are being added to the collection daily that they are forced to sell their old vehicles in a hurry. Banks and government agents are more interested in recovering the debt of the outstanding loan of the vehicle because the amount is too high on their books. Many times, these cars and trucks that are put up for auction are new recent luxury models that are in near perfect condition with low mileage. Other times, you will find older vehicles that have been damaged and abandoned by their owners. It’s a great place to save big bucks if you’re willing to do the work to research, and settle with a new to used car!

The best way to go about a car auction would be to use a professional service that will provide you with all the information you will need such as locations and car availability, to learning how to bid on a car and making payments. That’s the great thing about purchasing an auto finder service. They already provide the research online for you so that you won’t have to do it yourself. You can find the price for similar cars sold at other auctions, and can also place an online bid.

It’s easy if you’re willing to put in the time and effort to do a little research, which in turn could save a lot of money. You’ll find this method more profitable and it may even be more exciting rather than going to a used car dealer.

How to Find Auto Auctions

It’s hard finding the best service out there. You can find information at your local town office regarding repossessed car auctions in your area, or find in newspapers for notices about police impound auctions, and government seized property auctions. Here you can find other items being put for bid besides cars and trucks such as boats, and motorcycles.

The internet is a great tool to start with as you can start researching auto auctions right away. There is plenty of free information sharing all over the internet. Several websites offer services in online car auctions, which allow you the convenience of working comfortably from your home. It provides you with all the information you need on auctions in your area. The greatest benefit is all the savings that you’ll find at prices more than 60% off the book value.

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Loan Officer Tips – 7 Essential Loan Officer Tips To Help You Launch You Career

In anything you do it is always nice to have a few tricks of the trade to help you along. Let’s say your goal is to become the best loan officer that there is. You want to master the art of closing the deal and gaining every loan you can. If that is the case then take into consideration the few simple tips that I have listed below that will help you in your quest to be the best.

Tip #1: Always be friendly and positive. Nobody wants to walk into your office to see you scowling and mad about the fact that you can’t find whatever you were looking for. Always greet everybody with a smile. Even if it is the customer service representative that gets on your nerves because that is the person that could send you the biggest loan of the month. When you are at ease, those around you will feel comfortable speaking with you and therefore entrusting you with their loan needs. This is one of the loan officer tips that help if you carry it on into all aspects of your life.

Tip #2: Know your market. This is a part of the loan officer tips that I can’t stress enough. Don’t try to push mortgage loans on people that you know just bought a house. If you have made an appointment to speak with someone about their finances and what you can do for them, do some research. Look through the records to see what they have done with your financial institution already so that you can be prepared to offer them what they actually need.

Tip #3: Marketing is something that will help you in so many ways. You can’t just sit and wait for customers to come to you. Advertisements such as on the radio or in the newspaper are good. But being a loan officer, think of all the places that people who will need the loans that you are offering will look. If you are offering auto loans think of advertising in the local car classifieds or have advertisements at the car lots. If you are a loan officer that specializes in mortgages then advertise in places that people looking for a home will look such as a home finder or online at the real estate sites.

Tip #4: When you have accomplished something for your clients, let them know that you have. This is one of the loan officer tips that might sound silly but will actually be helpful to you. If they think that everything falls into place just because of the fact that they do, correct them. The only reason that they are able to get stuff accomplished is because you have helped to make it happen. Not only will they be grateful, they’ll tell they’re friends how helpful you were.

Tip #5: Thank people. By thanking people for their business you are showing that you appreciate them and everybody likes to feel appreciated. I know that this one of the loan officer tips might not seem important but think how good you feel when somebody thanks you. It’s something that will help them remember you the next time they need another loan.

Tip #6: Always think outside the box. As a loan officer you will need to get your name out there and by thinking outside the box a little you can come up with some ideas that some may not have tried. Or maybe someone has tried it but they might not have put the right spin on it that only you can.

Tip #7: The last of my loan officer tips is to always look to improve yourself and your business. I’m sure that if you think of something that you do, you can think of a better way to get that same job done. An example is if you like to advertise or write articles about your business, think ahead one step and create a website. Websites are being created for everything and have been proven as one of the best ways to market everything from stores to farms and everything in between.

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The Secret To Bad Credit Used Car Loans

Type in the term “Bad Credit Auto Loan” into your search bar and you will be amazed at the results. There are many, many choices. How do you decide where to apply. Once you apply which loan offer should you take. The answers to these questions become easy if you know a few insider secrets. Let me tell you that I am a car dealer and that what I am about to share is part secret and part common sense.

The first key is applying to the right source of funds. If you look at the results of your “Bad Credit Car Loan” search you will notice that some of the listings are from banks and/or loan companies (Finance Sources Direct), some are from car dealers ( Money Finders), some are from other companies (Lead Providers). Applying directly to the bank who will loan you the money directly or allowing the car dealer to find the money on your behalf is preferred. Lead providers take your information and sell it to car dealers. Sometimes lead providers sell your name to several dealers so you get many calls and emails. You can usually tell a lead provider because they use terms in their ads like “Nationwide Network of Lenders” or “Our Dealer Network” Doesn’t it just make sense to eliminate the middleman? ( Common Sense) If you apply to banks they will usually give you an approval based upon a dollar amount or monthly payment that you qualify for. Then you take this approval and start shopping for a car that you can buy in that price/payment range. It can be difficult to do the math so be sure and find a payment calculator website and explore your options. If you apply to a dealer they will usually provide a choice of cars that they have in stock that match your approval. Most customers find this method easier because the dealer does most of the work. Look for a dealer who provides a large selection of cars in your price range. There are dealers who specialize in working with “Bad Credit car Loans”. Look for these type dealers.

The second key is selecting the best loan package for you. Let me first say that “Bad Credit Car Loans” are always high interest loans. Banks set interest rates by the risk that they take in making a loan. Customers who repay slowly or not at all are “Bad Credit Customers” and therefore are high risk loans. High risk means high interest rates. Here is the secret. You can minimize the interest you pay by selecting a short term, low dollar amount loan. Think of this loan as a stepping stone to your next car loan. Look for a 1 or 2 year loan that is under $10,000. You can repay the loan fast, not pay a lot in interest, and be in a position to trade faster. Many people make the mistake of buying a car and getting a 60 month, high interest rate loan. They struggle with the high payment these loans come with and and actually hurt their credit rather than help it. ( A typical bad credit 60 month loan for a $6000 car will carry a $5000 interest cost) Look for a nice, cheap car. Keep it a year or two and then get your dream car. The secret is to minimize the cost of the loan. ( A typical bad credit 24 month loan for a $6000 car will carry a $1800 interest cost)

The benefit to using the computer to help you research and select the right finance package is the time you will save. Narrow down your choices and then pick up the phone and ask questions to further narrow down your choices. There are two keys to success . 1. Find A car dealer who specializes in Bad Credit Loans and 2. Select a short term, low dollar amount loan and you will improve your credit and chances of getting a great deal.

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Benefits of Using Online Car Finders

Searching for the best car that you could purchase, lease or finance involves a lot of efforts and consumes time. However, this particular procedure was recently simplified by using the internet. But not all car buyers and individuals who wish to finance either an expensive or cheap new car know this strategy. In fact, a lot of them are having some troubles in searching for vehicles that they could purchase or finance. In case you are going to buy, lease or finance a car right now, try to use some of the online car finders and enjoy the following benefits.

1. Extensive vehicle options

One of the benefits of using some of the online car finders is the chance to check more car makes and models that you cannot handle when doing a personal search. Most of these car finders are connected to dealers that provide information about the vehicles that they have on their lot.

Due to this, you can use their website and locate as many car makes and models that you can check. All you need to do is provide a particular make and model. As soon as you provide this, the website would usually provide the information of the vehicle that you are interested in as well as the name and locations of the dealerships where you could find the car.

2. Manageable car search

Compared to a personal car search, using online car finder is more manageable. You will not spend more efforts and incur additional expenses by visiting dealerships scattered in your area since these sites could provide you with the information needed with just a few clicks of the mouse.

In addition to this, you can just do the search without leaving your house or work. You can actually insert this task when you work during breaks.

3. Updated pricing

Another benefit that you could obtain from using car finder websites is updated pricing. This is because these sites are maintained by professional mangers and they regularly update the prices of the vehicles included on their search options based on the latest trends in the automobile market.

However, you also need to choose a reputable website to ensure that the pricing is credible. Try to use some of the popular websites that offer this service since these are more reliable and conducts price updates regularly.

4. Availability of more new car deals

Finally, using online car finders provides you with greater chances of getting the best new car deals and auto loans offered for a particular car make and model. Car finder websites usually includes the available deals provided by car makers for their vehicles and you might qualify for any of these offers.

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Important Things That a Low Income Earner Should Do When Getting an Auto Loan

Car finders with lower incomes would usually seek for auto loans that they could obtain, pay for these promptly, and allow them to gain full ownership of the cars that they want to finance. However, getting a loan with a limited monthly income can be difficult. This is because lenders are usually sensitive with the loan applicants’ monthly incomes. Due to this, lenders would turn the car loan applications of individuals with lower incomes down.

But this doesn’t mean low-income earners are not qualified to obtain different auto loans. In fact, getting some of the auto financing deals is possible and manageable as long as they know the proper ways on how to secure these. In order to help them, this article provides the important things that low-income earners should do when getting auto loans and these are following.

1. Accomplish the necessary preparation

Car loan applicants with relatively lower incomes should try to prepare themselves before they go out and shop for the available auto loan deals. They should make sure that their credit reputation is good even although their monthly earnings are low. By doing this, they would probably convince lenders that they are responsible enough to handle the obligations involved in getting a loan.

This simply means that low-income earners should provide proofs that they are capable of handling credit obligations. One thing that they could do is pay their existing financial obligations such as their personal loans or their current credit card balances. By doing this, they would be able to project themselves as responsible creditors.

In addition to this, car loan applicants with lower incomes should also save their money for the down payment, look for a qualified co-signer, and search for collateral that they could use in the event that lenders would require any of these.

2. Search for the best lender

When all the possible requirements are prepared, the next thing that this type of creditors should do is to search for the best lender. They can try to visit some of the local lenders and look for loan deals suited to their budget.

They need to be very patient in looking for lenders that could provide them with what they need. The most important thing that they should do is to explain their current financial condition with lenders. In addition to this, they should also make sure that the lenders are willing to help them.

These types of loan applicants should also search for more loan offers from different lenders to increase the chances of getting the best from what is offered. By getting more auto loan quotes, they would be able to choose those that involve lower monthly payments and interest rates.

3. Choose the most appropriate car to finance

It is also important for low-income earners to choose the appropriate type of car to finance. Since their monthly incomes are low, it is advisable for them to finance some of the available cheap new car models. By doing this, they would obtain lower monthly premiums, lower interest rates, and increase the chance of paying their loans off.

They could also talk to their lenders and inquire about the type of vehicles that they could finance. Lenders usually provide recommendations about the cars that each type of loan applicants could finance based on their income and this prevents low-income earners from financing cars that they can’t afford.

Marty Bay is an Automotive Journalist and publisher, widely known as a contributor writer, editor, and publisher for some well-known Automotive Properties in the US like Car Finder, Auto Financing, and AboutCar to name a few. His expertise is in writing news and publishing content that would help new car finders, and buyers seeking information about auto financing and other new car related offers, deals, and changes in the industry. He also specialises in producing and publishing New Car Buying Guides for various automotive websites in the United States.

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The Benefits Of Getting A Personal Loan

A personal loan is usually not secured. It means collateral does not need to be provided by you when you borrow. The loan is offered to you by the lender on the basis of your credit and qualifiers. You can easily get the approval of loan, if you have a good credit. A lower interest rate can also be offered to you. Visit a financial institution or search online to get a personal loan.

Here is a list of some of the benefits of such a loan.

Lower interest rate – If you have good credit, then personal loans with lower interest rates can be availed by you. Around 15% APR on a credit card balance is paid by the people with lower credit card balance. But if you have good credit, you have to pay only 6% APR. While making a big purchase, it is considered as a big difference.
Use for many purchases – Your cash can be used by you for making any purchase. A loan of this type can be used even for purchasing a vehicle, starting a business or renovating your house. Restrictions may be placed by other types of loans on the usage of fund. But the conditions of using a personal loan are flexible and can be used for any purchase.
Consolidate debt – High interest debt can be consolidated by using a personal loan. Several smaller debts with high interest such as credit cards and student loans can be paid off by using a larger loan. Money on interest can be saved if you consolidate your debt by using this loan. Your debt repayment plan can be managed in a better way by combing several loans in one place.
Smooth your cash flow – Your cash flow can be smoothened by using a personal loan. A personal line of credit can be got by you, by using your personal loans. You have to pay a low interest rate in this alternate way of use. An emergency fund doesn’t need to be raised for future. The borrowed amount can be repaid by accessing your line of credit.
Boost your credit score – Your credit score is counted depending on your different types of accounts. One type of credit is represented by credit cards. In this case, you can use your credit score to handle your loans. Your score can be boosted slightly by adding instalment loans in your credit report.
Thus, save a huge amount on all your purchases by using a personal loan. Always remember to compare different loans before borrowing any sum.

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Five Reasons for Refusal of a Personal Loan

Don’t you wish personal finance were a mandatory course in college? Unfortunately, too many of us learn by mistake. When you need a personal loan and are rejected, you might be baffled as to what went wrong- and how to fix it. Here are some clues.

NO CREDIT

No credit is a situation where you have never used credit and therefore have no credit history for the bank to review. They have no way of making an educated decision on whether or not you will pay back a personal loan based on your credit history. No credit is worse than bad credit. Qualifying for and making regular payments on these types of introductory forms of credit can overcome a “no credit” score:

· Student Loans

· Secured credit card (includes a down payment amount)

· Being added to a parent’s or spouses good credit: card, car loan, etc.

LOW CREDIT

Low credit takes on several forms. If you’re using more than 30% of your allowable debt, it can negatively impact your score. Too many inquiries from shopping around for loans will also hit you hard. Lapses in payment, defaults, or bankruptcies are giant red flags and can take a long time to rebuild from.

Other things that lenders may look at are whether or not you have sizeable assets should you default on the loan. They also check to see if your debts are diversified or if you are only carrying one type of debt.

INCOME

Proof of income is generally required when applying for a personal loan. If you are unemployed or underemployed, it can work against you in the loan approval process. Lenders may also require a work history to see how long you have been with your current employer, and to determine if you typically have job stability. Frequent job loss or change will tell a creditor that your payments may not be reliable.

PURPOSE OF THE LOAN

Believe it or not, your application can be rejected due to your proposed purpose for the loan. Financial institutions have the right to set up the parameters surrounding their disbursements and can accept or reject your application based on what you want to use the money for.

BLACKLISTING

If you’ve defaulted on debt before, your name may be put on a list of whom not to loan to,’ also known as a “Blacklist.” This will follow you around for a long time and is difficult to erase. If you do resolve the debt issues, get documents to prove the resolution.

NO CREDIT CHECK LOAN

If you need a loan now, but are concerned that you might not qualify for a personal line of credit, you can qualify for a No Credit Check Loan. You could be on your way to a better financial future in no time!

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A Latin Impact on the Finance Industry

Financial Institutions are a fantastic business model to learn from when considering ever changing market conditions. Their traditional target markets are stable, but, the needs of an emerging market, the Latino market is extremely underserved. It is certainly not for lack of money. Many Latinos have zero debt and healthy saving habits. The question arises, are financial institutions doing enough to serve this population? Are they adapting to the Latino needs? The answer is complicated.

There are two types of Latinos in the USA. One is the immigrant seeking a better life and wanting the American dream, whether they came through the proper channels or not it is irrelevant. The second, are the Latinos that are born here. These are two very different groups of people with different needs and goals. Most immigrants bring their culture, traditions, and customs with them to the US. Those born here develop a blended culture that is both Latino and American.

Financial Institutions are taking notice and making strides to accommodate this very economically influential population. The main reason is that there is a lot of investment in education and developing trust. An untold detail is that in Latino countries, people do not trust banks and financial institution because of corruption. Everything is paid in cash and there are no debt or traditional credit scores. This means that the Latino community have cash, probably stored under their mattress or in a shoe box. This is very dangerous considering that a house fire could burn an entire life savings. Another scenario is they could become a target for robbery. This is a foreign concept for Americans. What is happening is a huge learning curve, educating them on the process of building credit, saving their money in a financial institution, getting loans (mortgage, car, etc.), and most important having trust in the financial institutions.

The younger generations that are born here learn from their parents and surroundings. There is still a disconnect from the importance of financial products, building credit, and how that process works. Many of these young people are just translating for their parents, explaining financial products, and become an intermediary for conducting business. You will notice an increase in bilingual support at many financial institutions for this reason. There is still a lot of work to do in this regard, and this process will take time.

However, more and more financial institutions are offering products specific to Latinos. Information is becoming available in Spanish and more financial institutions are hiring bilingual and multi-lingual speakers. It will be interesting to see how we as a country adapt to this important demographic. It is truly an untapped market that has an important function in our economy for growth and stability.

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6 Home Loans Tips Before Applying

Applying for home loans could be dreadful, particularly on the off chance that you are a first-time home purchaser. There’s a considerable measure of printed material and indulgent preparing included. Yet at the same time, it is justified regardless of your exertion. This far reaching contract aide will walk you through the way toward securing financing for your home and make you feel that applying for a home loan is not that horrible all things considered.

1. Know about them Lender or Broker?

There are two approaches to apply for a home loan. To start with, you can manage a loan specialist or home loan organization straightforwardly. Second, you can procure a home loan representative who will help you look over an assortment of moneylenders. Most homebuyers think that its less demanding and less expensive to choose a loan specialist, without assistance from the outsider. In addition, with a specific end goal to locate an equipped and solid agent, you should do a really decent research and get references. That is the reason a great many people like to keep it straightforward and manage a bank themself. In a few circumstances, be that as it may, merchants can really work to support you. For instance, if your record of loan repayment is not all that good, an accomplished dealer might be exceptionally useful in shopping and arranging for the most ideal arrangement.

2. Know the True Rates

The publicized rate frequently snatches borrowers’ consideration yet it is really not the one that borrowers ought to depend on. The AAPR or “the genuine rate” is a much better guide, as it checks every one of the expenses and charges that will happen over the term of your loan. In spite of the fact that the AAPR is a stage up from the publicized rate, it is still only a quantitative device. Once you’ve chosen a couple loans in view of their AAPRs, you will at present need to investigate their different elements. Some worldwide think-tanks, for example, CANNEX and AIMS Home Loans can outfit you with some canny data about mortage loans and help you limit down your choices quicker.

3. Know about loans details & terms

When you search for a home loan and read through various home loan terms and conditions, you will go over money related wording that you most likely won’t discover somewhere else. It is critical for you to comprehend those home loan terms with the goal that you can secure the most ideal arrangement. Truth be told, numerous money related foundations and land firms offer free homebuying workshops, which can help you comprehend what individuals are discussing in land business. Here are some fundamental home loan terms that you ought to know:

APR – Yearly rate, expected to mirror the yearly cost of acquiring. It is otherwise called the “promoted rate” or “feature rate”, that ought to make it less demanding for borrowers to think about moneylenders and loan alternatives.

Closing Costs – Shutting costs incorporate “non-repeating shutting costs” and “prepaid things.” Non-repeating shutting expenses are any things to be paid only once as a consequence of purchasing the property or acquiring a loan. Prepaid things are things which repeat after some time, for example, property charges and mortgage holders protection. Normally a moneylender should gauge both the measure of non-repeating shutting costs and prepaid things, then issue them to the borrower inside three days of accepting a home loan application.

Collateral – An insurance is the thing that you use to secure a loan or ensure reimbursement of a loan. In a home loan, the property is the security. The borrower will lose their property if the loan is not reimbursed by assentions of the home loan.

4. Check Your Credit

When you apply for a home loan, your whole record as a consumer will be investigated by your forthcoming moneylender. FICO ratings more than 620 have a decent risk of getting affirmed for a home loan with a decent financing cost. On the off chance that your score is beneath 600, in any case, your application might be denied or you may get affirmed at a much higher loan fee. Whether you have a decent or terrible financial assessment, what you ought to do is check your credit report before your bank does. You can get your credit report from Equifax, Experian and Trans Union. In the event that there are any mistakes, attempt to contact these three organizations and clear them up. This procedure can take a great deal of time, so it is something you ought to do a while before apply for a home loan. Paying down your budgetary commitments, for example, Visa obligation and auto loans, before applying for a home loan is additionally an extraordinary thought.

5. Don’t afraid from your bad credit score

Regardless of the possibility that you have an awful financial record, you ought to in any case glance around for the best arrangement. Don’t simply expect your lone choice is a high-taken a toll loan. On the off chance that your credit issues were created by unavoidable circumstances, for example, ailment or a brief loss of pay, disclose your circumstance to the loan specialist or intermediary. Ask a few banks what you need to do keeping in mind the end goal to get the least conceivable cost.

6. Verify and clarify all the things

A pre-endorsement letter is extremely useful, yet not as awaiting as you may think. When you locate a home you’d like to purchase, and your offer has been endorsed, you will need to do a reversal to the moneylender and submit archives that confirm your monetary data to get a loan. Your benefits will be assessed. The loan specialist will investigate your work history. You ought to have no less than two years of business history in the same profession. On the off chance that you are new to the work power, advanced education may help you get endorsed. In the event that you don’t have a sufficient record as a consumer, you may utilize normal regularly scheduled installments, for example, lease, telephone, or satellite TV to demonstrate the loan specialist that you are a reliable shopper.

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The Role of Islamic Finance in Economic Stability and Social Justice

One of the most distinguishing times for the U.S. Islamic home financing industry began in February 2007. The Federal Home Loan Mortgage Corporation (Freddie Mac) sent out a press release announcing that it would no longer buy the most risky subprime mortgages and mortgage backed securities. Two months after the announcement, a leading subprime mortgage lender filed for Chapter 11 bankruptcy protection. Three months after that bankruptcy filing, nationwide financing entities warned of “difficult conditions” ahead. Manifestations of such difficult conditions appeared on the horizon of the financial market when once well-established mortgage companies suddenly began to file for Chapter 11. Similar circumstances reached the U.K. as the Bank of England cleared an authorization to provide liquidity support to Northern Rock, the country’s fifth largest mortgage lender. Five months later, Treasury of the United Kingdom became the owner of Northern Rock.

Up until that point, the gravity of these “difficult conditions” was not fully understood by most of the populace. Late in 2008, the Federal Reserve Bank of New York was authorized to lend $85 billion to the AIG. This was the beginning of the most serious recession in the United States since the Great Depression. What followed was a chain reaction that led to an unprecedented global financial crisis, as the world suffered from rising unemployment, rampant foreclosures, and severe skepticism of financial instruments.

This led to a renewed spotlight on an unfamiliar market segment that appeared comparatively more stable and, more importantly, far more ethical: the Islamic financing sector. From the financial centers in Malaysia to the Middle East, spanning across over seventy countries, Islamic finance in the U.S. increased from $5 billion in the 1980s to $1 trillion in 2010. This phenomenal growth caught the attention of global investors who were seeking to safeguard their investments through more ethical and reliable financial instruments. When financial sector workers realized that these Shariah-compliant instruments avoided many of the worst effects of the global financial crisis, it became an attractive investment vehicle to support a more diverse portfolio. The Shariah-compliant financial sector has avoided investment in predatory lending businesses and overly leveraged financial instruments due to the strict ethical nature of the Shariah governance system. News and media outlets started to cover this ancient yet unfamiliar industry in hopes of learning from the mistakes of the conventional banking sector.

The concept of the modern Islamic financial services industry is rooted in the principles of Islamic legal jurisprudence that deals with financial transactions, a branch of Islamic jurisprudence called Fiqh Al Muamalat. Fiqh Al Muamalat is a framework under Islamic Law that charts the conduct of Muslims in commercial or economic endeavors. Islamic finance products and rulings are based on specific injunctions from the Quran that prohibit certain features of financial transaction models and related economic activities.

The Quran forbids interest, also called usury or riba. The underlying reasoning is that Islam considers lending to be a charitable act to help another member of the society in his/her time of need – therefore, profiting from someone’s hardship is strictly forbidden. In the conventional banking system, when interest is charged on a loan, the risk of that transaction is transferred to the borrower while the lender gains profit from the interest-based transaction. There is no consideration for the hardships endured by the borrower in the event they undergo any loss from the transaction.

By its nature, Shariah law prohibits unethical financial practices. It also promotes wealth distribution among all people to reduce poverty and inequity. This is manifested in the prohibitions of activities such as excessive speculation, gambling, and investing in products that are harmful for society as deemed by Islamic law (alcohol, pornography, etc). The structure of Islamic financial products and services, especially its prohibition in speculative transactions, has helped the industry escape most of the adverse effects of the global financial crisis. The governance model of Islamic financial institutions has been praised as an ethical alternative by institutions such as the International Monetary Fund and the World Bank. Economic experts have suggested that Islamic financial principles can be leveraged to promote financial inclusion that uplift the quality of life in developing nations. Islamic financial principles can also contribute to financial stability and economic development around the world.

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