Posted on 08/17/2009 8:06:54 PM PDT by Sammy67
Earlier today, we posted a link to an article which mentioned that Kuwait Islamic Bank had entered into a joint venture with Colorado-based real estate company UDR:
We were curious as to what, if any, restrictions were to be imposed on the real estate properties in which Kuwait Islamic Bank invested here in the United States, so we made an inquiry via UDR’s “contact us” form on the company’s web site.
The company was quick to reply as, within minutes, we received a phone call from Dave Messenger, CFO of UDR.
I asked Mr. Messenger two questions:
1. What, if any, special restrictions or qualifications relating to Shariah were required in the deal with Kuwait Islamic Bank?
2. Are zakat payments to be made as part of this venture?
Mr. Messenger did not attempt to address question number 2, but referred me to Kuwait Finance House to get an answer to that question.
(Excerpt) Read more at shariahfinancewatch.org ...
citi was a big believer in sharia finance, although mostly outside the US, iirc.
Little by little they change things to suit their religion.
Between this and obamacare access to bank accounts, why have money in one?
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