But after looking for an appropriate house with a comfortable payment period, his dream appeared unachievable. “I pay Sh40,000 rent for my house in South C, so paying Sh39,000 is like using the money to buy a house,” he says. But Rama Homes Ltd’s model, which the company says is inspired by Islamic principles, is different. But the real kicker with this model, Mr Ngwili says, is that the monthly instalments, irrespective of how long they stretch, do not accrue any interest. Mr Ngwili adds: “By virtue of having well-established affiliate companies, we are stable enough to finance our projects within the two years.

Source: Daily Nation July 20, 2017 03:22 UTC