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AL BARAKAH PROJECT

Montreal, Canada, November 2, 2014

Basel Ahmed Ayed

Many Muslims thanks to Allah they are always hesitating in buying a house because of RIBA (interest) and they are completely right doing that because RIBA (interest) is very dangerous and we have to be careful with everything related to money we, any penny HARAM (prohibited) makes all our life to be wrong and will take all the Baraka from our life and will conduct us to hell.

Temptations of life sometimes make us to buy things with interest and we say Allah will forgive us, everybody is dealing with interest! Economist and banks say, if we stop dealing with interest everything will close (only if Allah wants). According to the law of life Allah made interest prohibited and selling is permissible and they are alike but when Allah says something it is the law of life.

I will clarify how the RIBA and selling they are similar:

Case:

I want to buy a car worth 7,000 $ I will pay 1,500 $ as down payment, the rest I will get it as a bank loan for 3 years with 9% interest rate so I will end up paying 8,485 after 3 years but the bank will never lose with this way even if I stop paying back after one year the bank will take the car so he never lose. The car dealer offers me same 8500 for three years and if I stop paying he will resell the car and he will give me the percentage of my ownership after deducting the depreciation.

So the difference between them the bank is selling money with money (prohibited), if you are rich and lazy you put your money in the bank and you get 3 or 4 % yearly interest and suddenly all the people stop working and the poor will get more poor and the rich will get more wealthier and as a sudden the bank will get bankruptcy because nobody is working to give back the loans.

The sell makes people trust each others, dealing with each others, and they start investing with each others and they will not stop working and may be they will get even 20 %, 30 % or perhaps 200 % profit because Allah puts BARAKAH in what is HALAL even if you get 1% profit, if Allah wants (inshallah) will increase it and will be 10% and more.  

If all the people deal without RIBA so the banks will do so and people will get richer because they will be partners with the bank and they will have a gain and loss.

Why do you want to buy a house is it to live in it or to be like the others or to be superior?

See this verse of Nobel Quran:

تِلۡكَ ٱلدَّارُ ٱلۡأَخِرَةُ نَجۡعَلُهَا لِلَّذِينَ لَا يُرِيدُونَ عُلُوًّ۬ا فِى ٱلۡأَرۡضِ وَلَا فَسَادً۬ا‌ۚ وَٱلۡعَـٰقِبَةُ لِلۡمُتَّقِينَ (٨٣) مَن جَآءَ بِٱلۡحَسَنَةِ فَلَهُ ۥ خَيۡرٌ۬ مِّنۡہَا‌ۖ وَمَن جَآءَ بِٱلسَّيِّئَةِ فَلَا يُجۡزَى ٱلَّذِينَ عَمِلُواْ ٱلسَّيِّـَٔاتِ إِلَّا مَا كَانُواْ يَعۡمَلُونَ (٨٤)

That home of the Hereafter We assign to those who do not desire exaltedness upon the earth or corruption. And the [best] out come is for the righteous.

So if you can not afford buying a house do not buy, but you have to invest in the Real estate, do not leave inflation and ZAKAH (donation) eats your money, if you have kids and you love them, you have to leave them a asset.

If somebody has doubt in the increasing of the real estate value, the following examples will stop this doubt.

DO NOT LOSE YOUR MONEY AND TIME IT’S TIME TO INVEST IN THE REAL ESTATE !

Real case of Real Estate increase value:

A house of (50,000 $) in 1993, its city value was 54,000 $, after two years went down to around 35,000$, because of the political situation 95 referendum.

No problem still cheaper than renting and it is your home.

After around 6 years real estate started going up, sold in 2005 (82,500 $), after that have been sold three times:

2005-12-18 115,000 $
2009-03-17 49,000 $
2010-02-18 149,000 $  

2018-03-23 187,500 $ 

200% increase in less than 20 years but is not really the same nowadays because the value of the houses in Montreal were too low compared with the others big Canadian cities.     
When I bought my first house I was looking for price and the second too, the important is to invest in the real estate to conserve the value of your money at least.

According to Greater Montreal Real Estate Board the house of around 120,000 $ in 2001 so its value in 2013 is around 300,000$.

BARAKAH Project (Interest FREE):

Consisting in buying a revenue property as a group (co-operative property), so starting with 5,000 $ you can be owner and investor of real estate.
In the Flowing table three examples of revenue properties in different areas and they are active in the market now.

The three areas are Montreal. Laval and South Shore. If you invest 10,000 $ in revenue property like the one in the example of Montreal, revenue of 10,000 $ will be 10,674 $ in 10 years so revenue + capital will be 20,674 $ and you are free to sell your share anytime you wish. 

Renting and buying your shared property:

Assume your share is 30%, the rent is 1,000 $ monthly, so if you rent to live in it so you will pay 700 $ monthly.

You can buy your shared property:

You can buy more shares from the other partners until you will have 100% and the property will be all yours.

MORTGAGE INTEREST FREE (HALAL):

If somebody wants to buy apartment in this property, will be a condo in this case.
The buyer will pay his portion of taxes and expenses.
The following table shows condo of 100,000 $ value 20,000 $ as down payment, so if investors decide to sell to the new owner so the revenue of the 80,000 $ which is left will be 32,000 $ for 10 years.

The estimated value is done according the consideration of inflation and the future real estate value in the next 10 years. It is HALAL there is no interest and no change in the price for the 10 years.

Somebody will say banks are cheaper but if interest increase like the 80s so you will lose everything, over that is not HALAL. If the bank is the owner and he fix the interest until the last installment in this case will be HALAL Allah knows better (Allah aalam).
Following tables are different values.
 

For more details or to enroll in the Baraka project, follow the link: fill the form

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And who is better in speech than him who prayed unto his Lord and doeth right, and say I belong to Muslims.

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