As a Muslim, choosing halal and Shariah-compliant products is an obligation. Regardless of the aspect of food consumption or medical treatment, it is important to ensure that the products are halal, good and also free from the elements that are forbidden in Islam.
The same applies to financial aspect of a Muslim life. The rapid development of the Islamic financial industry in Malaysia has resulted in a diverse selection of products offered by Islamic Financial Institutions. However, which one is the best option? It is quite difficult to go from one platform to another in order to make a suitable product comparison as well as to meet personal requirements or criteria. How to solve this problem?
What is SharLife?
Introducing SharLife, a platform that compares Shariah-compliant financial products with the mission to assist consumers by providing the relevant information on products and services offered by Islamic Financial Institutions in Malaysia. Among the features offered are comparison tools for financing and takaful products, Debt Service Ratio (DSR) calculator and many other features. Let's go over some of the features provided by SharLife.
Product Comparison Tools
SharLife provides product comparison tools for Home Financing, Vehicle Financing, Personal Financing, Credit Card Financing and also Takaful Protection products and services offered by Islamic Banks and Operators in Malaysia. This tool also provides all the important information you need regarding the financial products and services, including the maximum or minimum amounts, the duration of the financing, and the rate of charges. You can also filter options according to your preferred Banks or Operators, as well as setting a maximum maturity period for the financing options based on your preference and budget requirement.
In the future, SharLife will offer a 'Find An Agent' service, allowing users to directly deal with registered agents for personalised consultation services and receive more information regarding the products and services of interest.
Debt Service Ratio Calculator
This online calculator tool is provided to assist users in performing calculations for their Debt Service Ratio (DSR) and determining the eligibility of your financing. Simply enter the requested amount of income and monthly expenses, and the system will calculate your Debt Service Ratio (DSR). Try our calculator tool now.
Shariah Status of Cryptocurrencies
Cryptocurrencies have been showing promising and attractive investment instruments as can be seen on the market price reflected on many global exchanges. However, what is the Shariah status of these cryptocurrencies? Is it Shariah-compliant?
Thus, SharLife has taken the initiative to help people invest and trade cryptocurrency according to the Shariah Guidelines. As a reference for investors, SharLife team conducts research and short analysis to determine the Shariah status of various cryptocurrencies. The research and analysis of these cryptocurrencies are made based on the purpose of coin issuance, the Consensus Mechanism used by the coin's blockchain, the explanation in their whitepaper about their coin issuance, as well as several other criteria. Explore our Cryptocurrency Shariah Status section for more information.
Article Section
In addition to product comparison tools and calculator features, SharLife also offers reading materials for users in the Article section. Get the most up-to-date information on the current issues and news in Islamic finance as we cover the hot topic of discussion and interesting issues.
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Conclusion
Various exciting features and tools are available on SharLife website and they are FREE. Explore SharLife now at https://sharlife.my.