Dubai Bank waives profit fees on delayed homes
Dubai Bank allevates mortgage payments for thousands of buyers of homes in stalled residential projects. The lender wants also to rework payment schedules for "eligible customers".
Hundreds of developments in Dubai have been delayed. That means that buyers are responsible for mortgage payments on units they cannot occupy.
There is no central authority that decides which bank products comply with Islamic law. This most be adressed to the oown Sharia boards and they are free to have their own interpretation.
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