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Osool, Islamic car finance
- United Arab Emirates: Wednesday, July 30 - 2003 at 08:31
The UAE's Osool has introduced a Murabaha car and vehicle financing product which is fully compliant with Sharia Law. Osool first purchases the car and then sells the vehicle to the intending buyer for an agreed upon profit margin. This allows Muslim customers to finance a car without recourse to interest payments.
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Peter J. CooperWednesday, July 30 - 2003 at 08:31 UAE local time (GMT+4)
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This article was updated on Thu Aug 07 2003.
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