Sharia-Compliant Lending Services

Home Financing
Obtaining a Sharia-compliant home loan is a purposeful and ethical way to finance your dream home while adhering to Islamic financial principles. At Islamic Credit Solutions PL we are committed to guiding you through this process, ensuring transparency, and providing financing options that align with your values. Here's an overview of how you can secure your Sharia-compliant home loan with us:

Eligibility Criteria

To be eligible for a Sharia-compliant home loan, you must meet certain requirements, which may include:
  • Age: Be of legal age as per Australian regulations.
  • Citizenship/Residency:Be an Australian citizen or permanent resident.
  • Employment:Have a stable source of income or a business with a consistent cash flow.
  • Creditworthiness:Demonstrate an acceptable credit history / credit score.
  • Initial Consultation:The process starts with an initial consultation with our experienced team. During this meeting, we take the time to understand your financial goals, preferences, and unique needs. We also assess your eligibility and provide personalised advice on the most suitable Sharia-compliant financing options for you.
  • Sharia-Compliant Financing Options::At Islamic Credit Corporation we offer various Sharia- compliant financing options, including:
  • Ijarah::A lease-to-own arrangement where the financier purchases the property and leases it to you with the option to purchase over time.
  • Property Selection and Valuation:Once you've chosen the financing option that suits you best, you can begin searching for your dream home. It is crucial to select a property that complies with Sharia principles and is free from elements prohibited in Islamic finance.
  • Application and Documentation:After selecting the property, you will need to complete the home loan application. Prepare the necessary documentation, such as proof of income, identification, bank statements, and any other requested documents.
  • Property Appraisal and Approval:A Sharia-compliant lender will assess the property's value through an independent appraisal to ensure it aligns with market rates. Upon reviewing your application and the property's valuation, we provide approval for the financing.
  • Contract and Agreement:A Sharia-compliant contract or agreement, such as an Ijarah contract, will be drawn up to formalize the financing arrangement between you and the lender.
  • Settlement and Ownership:Upon settlement, the property will be transferred into your name. You will become the legal owner of the property while remaining compliant with Islamic finance principles and Australian laws.
  • Repayment and Support:Throughout the financing period, you will make regular payments based on the agreed terms. Our dedicated team is always available to provide ongoing support, answer any inquiries, and ensure a smooth financing experience.
With Islamic Credit Solutions you can embark on the path to homeownership while remaining true to your faith and values. Contact us today to explore the world of Sharia-compliant home loans and take a significant step towards acquiring your dream home ethically and responsibly.

Riba Free

Riba-Free Financing

Your Path to Ethical Homeownership
At Islamic Credit Corporation we take immense pride in offering Riba-free financing solutions that align with the principles of Islamic finance. Our commitment to providing ethical and Sharia-compliant home loans ensures that you can achieve your dream of homeownership without compromising your faith.
  • Understanding Riba: In Islamic finance, Riba refers to any form of interest or usury, which is strictly prohibited. Engaging in interest-based transactions goes against the principles of fairness, justice, and equality upheld by Islamic teachings. We, as your trusted financial partner, ensure that every step of our financing process adheres to these sacred principles.
  • Emphasising Riba-Free Transactions:When you choose Islamic Credit Corporation or your home financing needs, you can be confident that our services are entirely Riba-free. Unlike traditional interest-based loans, our Sharia-compliant financing options, such as Ijarah, offer Halal alternatives that resonate with your values.
  • Ijarah:A Lease-to-Own Solution with Ijarah, we acquire the property and lease it to you for an agreed-upon period. During this lease period, you pay a predetermined rental amount. At the end of the lease, you have the option to purchase the property, becoming its rightful owner.
  • Our Ethical Promise:At Islamic Credit Corporation we hold ourselves to the highest ethical standards, ensuring that your financial journey remains in accordance with Islamic finance principles. By offering Riba-free financing, we aim to empower you with a path to homeownership that is not only financially responsible but also spiritually rewarding.
  • Transparency and Integrity:Transparency is the cornerstone of our services. We provide complete visibility into the terms, costs, and conditions of our financing options, ensuring you have a clear understanding of the entire process. Our commitment to integrity means that you can trust us to uphold our promises and guide you with honesty throughout your homeownership journey.
Join us today, and embrace Riba-free financing with Islamic Credit Corporation. Discover a fulfilling and responsible way to own your dream home, aligning your financial aspirations with the teachings of Islam. Let us be your dedicated partner on this noble path to ethical homeownership. Contact us now to take the first step towards a brighter future, founded on faith, trust, and ethical values.

Rental Agreements

Rental Agreements (Ijarah)

An Ethical Path to Halal Homeownership
In the pursuit of ethical homeownership, Rental Agreements, also known as Ijarah contracts, stand as a Halal alternative to conventional mortgages. At Islamic Credit Corporation, we take pride in offering Ijarah contracts that adhere to Islamic finance principles, providing our valued clients with a Riba-free and responsible way to acquire their dream homes.
Understanding Ijarah: Ijarah is a lease-to-own arrangement that allows you to enjoy the benefits of residing in your chosen property while progressively building towards ownership. This Sharia-compliant financing option is based on a mutual agreement between you, the lessee, and Islamic Credit Corporation, the lessor, fostering a cooperative and equitable relationship.
  • How Ijarah Contracts Work: Property Acquisition: As your trusted financial partner, we acquire the property of your choice on your behalf, adhering to strict Sharia principles to ensure the transaction is free from Riba and any prohibited elements.
  • Lease Agreement: Once the property is acquired, we lease it to you for an agreed-upon period, typically spanning several years. During this period, you pay a predetermined rental amount to utilise the property.
  • Rental Payments: The rental amount remains consistent throughout the lease period, offering you the security of predictable payments. These payments are designed to cover the lessor's costs and provide a fair return on their investment.
  • Option to Purchase: The distinguishing feature of Ijarah contracts lies in the option to purchase the property at the end of the lease period. This option is explicitly outlined in the agreement, offering you the opportunity to become the property's rightful owner.
  • Gradual Ownership: As the lease period progresses, you have the choice to accumulate funds towards the property's purchase. These accumulated funds, known as the "rent-to- own equity," serve as your contribution to the property's ownership.
  • Ownership Transition: At the end of the lease period, upon exercising the purchase option, the property's ownership is transferred to you, and you become its sole owner. This transition marks the culmination of your journey towards homeownership without the involvement of interest-based transactions.
  • The Halal Advantage of Ijarah Contracts: Ijarah contracts offer several significant advantages, making them an ideal Halal alternative to traditional mortgages: Riba-Free Financing: Ijarah strictly adheres to Islamic principles, ensuring that your homeownership journey remains entirely free from Riba (interest), which is explicitly forbidden in Islam.
  • Predictable Payments: With fixed rental amounts, you benefit from predictable monthly payments, enabling effective financial planning and budgeting.
  • Flexible Tenure: The lease period can be tailored to suit your preferences and financial capabilities, providing you with a flexible timeline for homeownership.
  • Built-In Savings: As you make regular rental payments, you are concurrently building equity in the property, facilitating a gradual transition to ownership.
  • Property Flexibility: Ijarah contracts are applicable to various types of properties, including residential homes, apartments, and commercial properties, offering you a diverse array of options.

At Islamic Credit Corporation we are committed to empowering you with the opportunity to own your dream home responsibly and in harmony with your Islamic beliefs. Our Ijarah contracts exemplify our dedication to ethical financing, ensuring that your journey to homeownership is not only financially rewarding but also spiritually fulfilling. Take the first step towards an ethical and Halal path to homeownership with Islamic Credit Corporation. Contact us today to explore our Ijarah financing options and embark on a journey towards securing your dream home while upholding your faith.