Tuesday, March 03, 2009

Minnesota: Taxpayer-facilitated Sharia-compliant mortgages

Maybe we should all ban together and say our religion prohibits us from paying any interest on loans? I wonder if Minnesota allows some groups not to pay interest on mortgages will start an influx of discrimination cases by those of us who have to pay interest?

Minnesota: Taxpayer-facilitated Sharia-compliant mortgages

How does it work? "The state buys a home and resells it to the buyer at a higher price. The down payment and monthly installments are agreed to up front at current mortgage rates."

The state buys the home and makes the Sharia-compliant arrangements with the Muslim buyer. As Jihad Watch reader Paul, who kindly sent me this story, asks: "Establishment clause, anyone?"

"New Islamic mortgages now available in Minnesota," by Jessica Mador for Minnesota Public Radio, March 1 (thanks to Paul):
For many Minnesota Muslims, it's been virtually impossible to buy a home, because Islamic law forbids the paying or charging of interest.......

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