Bank Credit Versus Mortgage
Yes sir I have listened to the 23 questions series regarding Riba & Sood. There are different ways of transactions working through banking system that people utilize for different purposes. 1) One of them is mortgage that Ghamidi Saheb discusses extensively, especially in part 3 and 4.2) Another of them is using Bank’s credit for purchasing an item or stuff and then repaying back within a specific period as set by policy (a penality is charged if one fails to do so). This is discussed specifically by Ghamidi Saheb in Part 4 from 20:00 onwards. Isn’t the way of lending quite same in reality in both these cases? Only that the way banks acquire money back from people is different?