The Problem of Interest in Conventional Financing
Conventional home financing relies on interest-based loans (riba), which is prohibited in Islam. Mortgage loans charge compound interest, drastically increasing the cost of the home-often paying several times the original price. This violates Islamic principles that forbid riba and promote justice. With Qist, we eliminate interest entirely: we buy the home and sell it to you in installments with zero interest, retaining ownership until full payment.
How Islamic Real Estate Financing Works
In Islamic finance, we use a Murabaha contract: we purchase the home you choose, then sell it to you at an agreed price with a fixed profit margin (no interest). You pay monthly installments in USDC, ensuring transparency and speed. No late fees (gharar); instead, we offer a 3-day grace period. If you overpay, we return the surplus. This ensures fairness and Sharia compliance.
Advantages of the Qist Decentralized Platform
Qist is a smart contract on the Base network, audited and verifiable on BaseScan. All terms are immutable, no intermediary needed. Any Muslim worldwide can access the service with a USDC wallet. Our fee is only 2%, transparent and straightforward. Decentralization means no unfair terms imposed by a central authority. We serve a global community of 1.9 billion Muslims and a $4 trillion Islamic finance market.
Full Compliance with Sharia Principles
Every step respects Sharia: the seller (Qist) owns the asset (home), and the buyer purchases with deferred ownership. No riba (interest), no gharar (uncertainty), no maisir (gambling). Installments are fixed; delays are handled with a 3-day grace period without penalty. Overpayments are refunded. The contract is open-source and audited, ensuring adherence to Islamic law.
How Qist Implements This
To start your journey to buy your first home with Qist: 1) Choose the home you want. 2) Contact us via the platform; we purchase the home on your behalf. 3) We sell it to you in installments at an agreed price (no interest). 4) You pay monthly USDC installments. 5) After full payment, ownership transfers to you. Remember: surplus is returned, and a 3-day grace period applies if you're late. Start today and experience true Islamic financing.
Discover Qist: qist.info
Informational content, not financial advice.