Posted on 03/30/2009 11:58:04 AM PDT by Bokababe
No thanks I don’t like having my head hacked off or being stoned to death and women in burkas aren’t attractive.
If I understand it right, that system doesn’t allow anyone to charge interest. Well, if that’s true, I want to go to a bank and apply for this kind of loan with no interest. Do you think they will give it to me? Or will they say go pound sand because I don’t have a beard, a headscarf, a machete and a mean look?
That would be illegal. No business is allowed to discriminate on the basis of race or religion.
Do you think I could sue and win?
I thought exactly the same thing about sharia-compliant mortgages when I first heard about them, but that's not the way it works.
In sharia-compliant mortgages, they find a way to charge you the same interest rate, but they do it as a flat fee and call it something else so that it doesn't seem like "interest" but it is. No financial advantage to it, that I know of -- just a renaming of the same deal we get. But I do wonder whether they rename that fee as "mortgage interest" to lower their income taxes.
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