The cost of Islamic finance is cheaper compared with the conventional banking and finance system, Abdul-Jabbar Oyekan, Founder, Yahshud, an online Islamic crowdfunding platform, has said.
Oyekan said this became apparent during the outbreak of COVID-19 pandemic last year when finance was either elusive or expensive due to the non-performance of the economy.
He said those who got loans from Islamic finance institutions were not under pressure as the repayment arrangements were understandably better and interesting because of low interest rates.
He debunked the notion that Islamic finance is for only Muslims noting that 85 per cent of beneficiaries of Islamic finance are non-Muslims, an indication that the world was embracing this kind of finance.
He noted that there is a housing problem in the country but that the exact deficit figure is debatable.
Oyekan, who has over nine years’ experience in the industry, said no investment is more secure than real estate, because his company is breaking down the barriers for easy entrance.
“We have simplified investment by lowering the entry barrier into real estate investment, and created a platform that enables you to invest in projects that you believe in and also fit with your financial or social goals and objectives,” Oyekan added.
He said Yahshud is focused on real estate investments and charity projects and it connects investors with real estate investment opportunities with competitive return on investments (ROI). It provides a platform for small investors with limited capital to add real estate to their investment portfolio and participate in a typically sophisticated, high-entry level market, he added.
The firm’s products include Eazirent, which eases the burden of lump sum rental payment by breaking down rent to monthly instalments. Eazilandlord connects the person who wants to raise equity financing to a pool of investors, enabling them to purchase a property under a shared ownership structure (Musharakah).
While Eaziimpact offers opportunities for investors in new or ongoing projects for a profit, Eazicharity allows people to donate to worthy charity causes and projects with small amounts.
