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10 Dec 2024
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Home-buying

3 Key Insights from Pfida’s Shariah-Compliant Home Finance Podcast with Sheikh Asim Khan

Here are the three key takeaways that highlight why this conversation is so important for anyone interested in ethical homeownership.
Clock icon 4 min read
By Kaynat C.
Muslim family sharing a happy moment | 3 Key Insights from Pfida's Shariah-Compliant Home Finance Podcast with Sheikh Asim Khan

Our recent podcast, hosted by Sheikh Asim Khan and featuring Pfida founders Raza Ullah and Sheikh Salman Hasan, explored the journey behind Pfida’s shariah-compliant home finance offerings. If you missed the episode or simply want a quick summary, here are the three key takeaways that highlight why this conversation is so important for anyone interested in ethical homeownership.

1. Building Pfida from the ground up

The founders of Pfida, Raza Ullah and Sheikh Salman Hasan, shared the inspiring story behind building Pfida. Unlike other financial providers who modify conventional mortgage models to fit within shariah requirements, Pfida’s solution was designed from scratch with Islamic values at the core. The process wasn’t just about finding a workaround for interest; it was about creating a system that is genuinely aligned with principles of equity, transparency, and fairness. This sets Pfida apart as a truly community-driven financial product, intended to empower ethical and Muslim individuals in achieving homeownership.

2. Transparency in a debt-free model

One of the standout features discussed by Sheikh Salman was Pfida’s commitment to transparency. In the financial landscape, complex contracts and hidden clauses can often lead to mistrust, but Pfida aims to change that. The home finance model offered by Pfida is a partnership, one where there is no debt or interest involved, and customers’ ownership stakes grow clearly over time. Raza and Salman stressed how this approach is designed to provide customers with peace of mind and full clarity at every stage of their homeownership journey.

3. Shariah compliance with no compromises

For many Muslim families in the UK, finding a financial product that truly adheres to shariah principles is challenging. During the discussion, Sheikh Salman detailed how Pfida ensures that every aspect of the home finance product is fully compliant with Islamic law, avoiding any elements of riba (interest) or gharar (excessive uncertainty). By staying true to these principles, Pfida doesn’t just provide an ethical alternative, it gives Muslim and ethical homebuyers the ability to achieve their goals without compromising their values.

These are just some of the highlights from what turned out to be a truly insightful discussion.

Here are a few bonus highlights we enjoyed

Risk sharing:

Pfida’s home finance model emphasises risk-sharing between the buyer and the provider, which is a key aspect of Islamic finance. This ensures that both parties share in the journey, rather than placing all the risk on the buyer.

Community empowerment:

Pfida’s vision extends beyond individual ownership; it’s about empowering the wider community by providing a genuinely ethical and supportive financial ecosystem.

Continuous support and education:

Pfida is committed to providing ongoing support and education to its customers, helping them navigate the complexities of homeownership while staying true to Islamic principles.

Collaborative decision-making:

The founders discussed how customers are involved in the decision-making process, ensuring that their voices are heard and their needs are met in a transparent and collaborative manner.

Accessibility and fairness:

Pfida’s approach ensures that homeownership is accessible to a broader audience, with fair and transparent rates that are not directly influenced by conventional interest-based systems.

A wooden toy house with a family blurred in the background | 3 Key Insights from Pfida's Shariah-Compliant Home Finance Podcast with Sheikh Asim Khan

Hosted by Sheikh Asim Khan, whose deep understanding of Islamic finance made him the perfect guide for this conversation, the episode provides an opportunity to learn more about the guiding principles behind Pfida and how the founders’ passion for ethics has shaped their products. The video was made possible thanks to the support of Tayyibun, and we are grateful for their collaboration.

If you’re interested in exploring more about shariah-compliant home finance and how Pfida is leading the way in ethical finance, be sure to watch the full episode.

🎥 Watch the full podcast episode and learn how Pfida is redefining homeownership for families:

This podcast episode was recorded in collaboration with Tayyibun, whose support made this insightful discussion possible. You can check them out here: Visit Tayyibun