Posted on 09/28/2007 8:58:32 PM PDT by camerakid400
OTTAWA and TORONTO -- Ottawa has received its first applications to start up Canadian banks operating within the strictures of Islamic religious law - financial institutions that, if approved, would be among the first in the West.
Canada's bank regulator, the Office of the Superintendent of Financial Institutions, is studying two proposals for banks that offer services in keeping with Islamic laws that forbid speculation and interest but are in favour of transactions where profit and loss is shared.
The applications came to light in government documents obtained by The Globe and Mail under access to information laws, files that show Ottawa believes there are four other possible applicants keen to start banks operating under Islamic religious law, or sharia.
While some banks in the West offer sharia-compliant products, few aside from the Islamic Bank of Britain are standalone institutions set up expressly for this purpose.
(Excerpt) Read more at theglobeandmail.com ...
Can I make a buck off of this?
What interest rate for beheading just asking
“Can I make a buck off of this?”
If you dare—it might infect the rest of your assets.........
Is Sharia Banks, Tyra's sister?
The good people of North America need to shut down the horrible cult that is Islam along with its cruel laws. These people hate our freedoms and hate our way of life. Their ways are wrong and backward. They must be defeated.
No, beheading is the penalty for late payments.
“The good people of North America need to shut down the horrible cult that is Islam along with its cruel laws. These people hate our freedoms and hate our way of life. Their ways are wrong and backward. They must be defeated.”
I am with you on this.
Hmmm. Read the article. Guess that sort of bank would be out if I am considering starting a pig farm in Canada.
You know what you are right
Never mind so what interest rate on goats LOL!
Will they have hitching posts outside for their women?
Oh oh, this is not good:
Rome, 26 Sept. (AKI) - The first Islamic bank respecting Koranic law, is slated to be inaugurated next year in Italy, the Union of Arab Banks president, Adnan Yousif, the Association of Italian Banks (ABI) president Corrado Faissola jointly announced Wednesday.
Its spreading....
They just do not understand that these changes are only the first small steps toward the domination of the entire country and the elimination of any way of life other than Islamic death. This has to be stopped. I don’t see them trying this in any places in Texas soon....other than maybe Austin.
That’s fine: there are enough libs up there that this will one day become reality.
Remember: It’s okay to kill homosexuals as long as you don’t hate them (something I learned from DailyKos...)
Ping.
Not surprised to see this coming out of Toronto, aka the Socialist Black Hole of Canada.
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