Questions tagged [mortgage]

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Rent payments with redemption

Assalamu aleikum. I have a question regarding mortgage. One of our state banks provide a program for young families. You have to open a deposit account and make certain deposit payment every month ...
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How do Muslims define Usury or interest (Riba in Arabic) under the modern developed economy?

What is the definition of interest in Islam ? Anything in addition to the principal or price? Is modern economics possible if Riba is forbidden?