I had to google what shaloongo meant? You mean ayuuto? I thought you were trying to convince me to settle for some African shack.
I had to google what shaloongo meant? You mean ayuuto? I thought you were trying to convince me to settle for some African shack.
An ayuuto equaling 200,000 to 300,000 dollars will require at least 5 years and 3/4 of the Somalis in my city!
It's also called ayuuto, shaloongo is how i say it but you probably call it something else in your dialec. I gotta say it sounds weird now that i think about it.What's that? I've never heard that term
Is it from southern Somalia?
I had to google what shaloongo meant? You mean ayuuto? I thought you were trying to convince me to settle for some African shack.
An ayuuto equaling 200,000 to 300,000 dollars will require at least 5 years and 3/4 of the Somalis in my city!
Probably i myself is from there and i've always heard people use shaloongo or ayuuto.
Also, when you need a lot of money quickly. They will put you first in line for the ayuuto.Isn't ayuuto for those with saving difficulties (excluding older Somalis)? kkk
It's basically like saving money by yourself, but instead doing it with others and you get your share only once, in a set of period. Instead of having access to it at all time, correct me anyone if I'm wrong
Also, when you need a lot of money quickly. They will put you first in line for the ayuuto.
it’s a good way to get your hands on some money when you’re broke. You call up all the older Somali women in your area and announce a new ayuuto.
Habaar police to the rescue.Damn, who wants to deal with all the hassle? Imagine defaulting on a payment one month and you got a hordes of Somali women coming after you.
I'm assuming that there is some form of a legal contract? What if the first one to receive the money then dips without contributing to to the other's turn.
You never mess with their money…ever. You’ll be declared persona non grata and will have to leave the city. They’ll hassle your relatives , your sub clan. Everyone will know you’re a trick ass b*tch who runs away with peoples money!Damn, who wants to deal with all the hassle? Imagine defaulting on a payment one month and you got hordes of Somali women coming after you.
I'm assuming that there is some form of a legal contract? What if the first one to receive the money then dip without contributing to the other's turn.
I am familiar with it, and could speak to my exposure, but I am no Islamic scholar.
There was an "Islamic bank" that was offering a rent to buy scheme. The customer puts down a deposit but the bank still "owns" the house. As you rent on it, you gradually start to own it.How can you buy a house without using interest based loans?
Aren’t the Islamic mortgage groups borrowing money from a regular bank ?
I doubt that there is any crowdfunding going on…
Someone please explain
+ how did you pay off your “mortgage” if you have one??
This is what I was confused about. If these Islamic mortgage companies are also borrowing money from the high street banks doesn’t that constitute as still "dealing with interest". Even worse, you're getting a bad deal!
Ive never heard of this, that is interesting. It is for my own use.
I agree, I think they are trying to be a middle man in a transaction that isn't halal like they are trying to paint.
