Quote:
Originally Posted by YOUSUFofSD
what do you guys think? when loans are used do they help in the long run and/or only in the immediate financial needs of whoever? whether it be for school, a house or even a brand new car.
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Yousuf, do not take a loan out unless you are in dire need of it
. You know what, I wonder how islamic finance works with regards to loan. If those who are in uk switch to HSBC Amanah, they won't give you any interest but I wonder how the loan repayments work. I'm pretty sure they have to apply same APR otherwise they're not making nothing.