What Makes Easy Home Shariah-Complaint?

What is Easy Home?

Easy home is a Meezan bank's shariah-complaint home finance facility through which you can buy a house, build a house, renovate your existing house or replace your conventional house loan with halal financing.

What makes Easy Home Shariah-Complaint?

Meezan Bank's easy home works through diminishing Musharakah and conforms to Shariah laws specially related to financing, ownership and trade. The nature of the contract is co-ownership and not a loan because the transaction is not based on lending and borrowing of money but on joint ownership in a house. Meezan bank shares in the cost of the house being purchased. Creating joint ownership instead of simply lending money is the major factor that makes easy home Shariah-complaint.

With easy Home, the bank will provide financing of up to 85% of the cost of the house. The customer agrees to a monthly payment to the bank, part of which is for use of the house and part for purchasing the bank's share in the house. When the customer has made the full payment which had been agreed upon, he becomes the sole owner with a free and clear title to the property. The profit charged by Meezan Bank is therefore payment for use of its share of the house during the life of the contract. Your payments to Meezan Bank are hence completely Riba-Free.

Easy Home option for the Customers:

 Buying a Home is Easy and Halal

Choose your house and be ready to move in.