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Shariah Compliance
Is it Shariah compliant to link payments to the Bank of England interest rate?
Is it Shariah compliant to link payments to the Bank of England interest rate?
Payments based on Bank of England rate
Sakeeb Zaman avatar
Written by Sakeeb Zaman
Updated over a week ago

In the absence of a Shariah benchmark in the market and an acceptable alternative,

Shariah scholars have approved the use of the Bank of England base rate as a benchmark.

Of course, this does not mean that interest is charged as there is no lending in our

product. This is simply a commonly used benchmark to price our offering and ensures the product is clear with how the rent is charged and allows customer to compare us to other home finance providers.

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