Skip to comments.No-interest MasterCard aims at devout Muslims
Posted on 04/13/2010 9:03:16 AM PDT by myknowledge
Zero interest and faith are not words one commonly associates with credit cards.
They do have a place in discussions about the iFreedom Plus MasterCard, tailored to meet the religious requirements of Canadas Islamic community and recently launched by Toronto company UM Financial.
There are clients in the market looking for structured products that are compliant, from credit cards to mortgages, said Omar Kalair, president and chief executive officer. UM Financial plans to market the card to all Canadians.
(Excerpt) Read more at thestar.com ...
Omar Kalair is the president of UM Financial, which is test driving a new interest-free credit card that is designed to adhere to Sharia law.
You are exempt from paying interest as long as you're a Sharia Muzzie in Canuckistan.
so are these fee-based cards? with the fees increasing with the balance increasing?
Feel free to apply for one, as long as you're a Sharia-following Muzzie.
Non-muslims have one, too. It’s called an American Express Card.
Why can't they use American Express, like everyone else?
I doubt this card will survive long.
Islamics will find something “unholy” about it all the time....and keep forcing the issuer to change terms. As Islamics build up bigger debts...Islamics will push for “forgiveness”....if they do not get it...they will clain “religious intolerance, bigotry, anti-Islam” etc...
Just watch, this is what will happen with ShariaCard...Don’t go to the Mosque without it!
Discrimination against Christians and Jews.....simple as that.
For your next Jihad use the.........!
Will these cards be Dave Ramsey approved?
How can a prophet be divinely inspired when he doesn’t even understand the time value of money?
That's a good question. Perhaps we should "Ask The Imam."
Nah. We know the answer: AmEx transactions pass thru the hands of Jews and others deemed harem.
These should be brought to the United States. The gov’t does not track potential terrorist very well, maybe the banks will.
Just like murder is illegal under Sharia, but if you cut some infidel's head off...well that's not really murder. It's just a fee.
Not really any different than a debit card.
Like anything Muzzie, it is sulfurous smoke, warped mirrors, and weasel semantics
so THAT”S how I get them to cut my interest rate...threaten to behead them as Infidels....
If you had read the article you linked, you would know that these are pre-paid cards. IOWs, they are losing interest since they have to pre-pay their purchases. Duh.
The word “American” is offensive.
Ah, MadrassaCard. Don’t start jihad without it.
IOW another way for Obama to obtain more overseas donations via credit cards.
For Koran-thumbing Muslims there is another way to have money loaned to them. It is okay for a Muslim to borrow money from a member of his own familiy.
After my father died some sixteen years ago, a Muslim businessman flooded my narcissist mother with the attention she craves. Thanks to my father, my mother is a very wealthy woman with a full staff (housekeeper, cook, personal attendants and a gardener).
Ahab and his wife took Mother out to dinner three to four times a week. He dropped by the house with little gifts in between 'dinner dates'(fresh squeezed orange juice from the gourmet deli, Brach Jelly Beans, flowers, ...). He declared that he thought of her as his mother.
A few months after the relationship began *Ahab received the first of many very low interest loans (1-2%) to make improvements in his three liquor stores. Later on Ahab 'helped' mother with purchases of large ticket items such a large screen TV, refrigerator, vacuum cleaner, and several king-size bed which she gave away to him. None of the items came with receipts; I suspect they all had fallen off the proverbial truck. Everything Ahab purchased for her was overpriced. Example: Best Buy price for large screen TV was around $5,000. The price mother paid Ahab was around $8,000.
At mother's request Ahab directed major home improvement projects on Mother's home (bathroom remodeling, elevator for her three level house,interior and exterior painting, ...). The work was done by Ahab's 'boys' who were mainly illegal workers from Mexico. Much of the improvements had to be redone by licensed contractors later.
I wanted to have Ahab investigated for possible fraud and elder abuse, but my sister who lived nearby insisted that even though Ahab was taking advantage of Mother, she enjoyed all the attention Ahab provided. My sister thought the price of several thousand dollars a month to keep Mother entertained was worth it. "After all it is her money, and its just pennies to her."
Last year with the help of the housekeeper, my husband and I disentangled Ahab from mother's life. Through investigation I discovered that Mother was not the first rich widow woman he'd 'helped' in the valley.
“Suicide vests on aisle 3!”
Don’t try to inject facts into the Two Minutes’ Hate.
Plus, you earn double miles when you buy one-way plane tickets or flying lessons!
Isn’t a fee essentially interest?
Oh, no; not at all! Not any more than "registration fees", "license fees", "inspection fees", "documentation fees", etc are 'taxes', according to governments. Your local pols can explain that.
And, it isn't 'interest' any more than doubling or tripling the price of one's home, then selling it on contract, then adding in "origination" fees, etc, at 0% interest is 'usuary' under Shari'a: just ask MadMo; he can explain it.