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No-interest MasterCard aims at devout Muslims
The Star ^ | April 12, 2010 | Emily Mathieu

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 Canada’s 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 ...


TOPICS: Business/Economy; Canada; Culture/Society; News/Current Events
KEYWORDS: banking; canada; canuckistan; credit; creepingsharia; dhimmitude; interestfree; islam; mastercard; muslimamericans; preferences; sharia; umfinancial

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.

1 posted on 04/13/2010 9:03:16 AM PDT by myknowledge
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To: myknowledge

so are these fee-based cards? with the fees increasing with the balance increasing?


2 posted on 04/13/2010 9:04:49 AM PDT by Chickensoup (HEY LEFTISTS! Reduce your Government Footprint!)
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To: Chickensoup
They are simply usury-free cards.

Feel free to apply for one, as long as you're a Sharia-following Muzzie.

3 posted on 04/13/2010 9:07:27 AM PDT by myknowledge (B.H. Obama's just a frontman. A frontman for who? The globalist elite, stupid!)
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To: myknowledge

Non-muslims have one, too. It’s called an American Express Card.


4 posted on 04/13/2010 9:07:52 AM PDT by Oratam
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To: Oratam
Non-muslims have one, too. It’s called an American Express Card.

Why can't they use American Express, like everyone else?

5 posted on 04/13/2010 9:13:10 AM PDT by Netizen
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To: myknowledge

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!


6 posted on 04/13/2010 9:13:25 AM PDT by UCFRoadWarrior (JD Hayworth for Senate ..... jdforsenate.com)
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To: myknowledge

Discrimination against Christians and Jews.....simple as that.


7 posted on 04/13/2010 9:18:07 AM PDT by RC2
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To: UCFRoadWarrior

For your next Jihad use the.........!


8 posted on 04/13/2010 9:24:31 AM PDT by Dr. Ursus
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To: myknowledge

Will these cards be Dave Ramsey approved?


9 posted on 04/13/2010 9:26:11 AM PDT by mlocher (USA is a sovereign nation)
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To: myknowledge

How can a prophet be divinely inspired when he doesn’t even understand the time value of money?


10 posted on 04/13/2010 9:26:34 AM PDT by Ramius (Personally, I give us... one chance in three. More tea?)
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To: Netizen
Why can't they use American Express, like everyone else?

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.

11 posted on 04/13/2010 9:27:48 AM PDT by Oratam
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To: myknowledge

These should be brought to the United States. The gov’t does not track potential terrorist very well, maybe the banks will.


12 posted on 04/13/2010 9:28:07 AM PDT by mlocher (USA is a sovereign nation)
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To: myknowledge
"No-interest MasterCard aims at devout Muslims"

Well, that's partially right, I have NO INTEREST in MUSLIMS...especially the one in the White House...the "Placeholder-in-Chief".
13 posted on 04/13/2010 9:30:01 AM PDT by FrankR (Those of us who love AMERICA far outnumber those who love obama - your choice.)
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To: Chickensoup
There are always fees. Sharia law prohibits interest, but there can be various fees. It's just another deception that they do to themselves.

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.

14 posted on 04/13/2010 9:33:02 AM PDT by Sender (It's never too late to be who you could have been.)
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To: myknowledge
So, it boils down to a prepaid credit card, with “fees”, which equates to no interest...and no “credit” involved.

Not really any different than a debit card.

Like anything Muzzie, it is sulfurous smoke, warped mirrors, and weasel semantics

15 posted on 04/13/2010 9:35:19 AM PDT by ApplegateRanch (If Liberalism doesn't kill me, I'll live 'till I die!)
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To: myknowledge

so THAT”S how I get them to cut my interest rate...threaten to behead them as Infidels....


16 posted on 04/13/2010 9:37:53 AM PDT by Buckeye McFrog
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To: myknowledge
You are exempt from paying interest as long as you're a Sharia Muzzie in Canuckistan.

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.

17 posted on 04/13/2010 9:40:26 AM PDT by ColdWater ("The theory of evolution really has no bearing on what I'm trying to accomplish with FR anyway. ")
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To: Netizen

The word “American” is offensive.


18 posted on 04/13/2010 9:46:17 AM PDT by Fresh Wind ("...a whip of political correctness strangles their voice"-Vaclav Klaus on GW skeptics)
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To: myknowledge
And you get back 2% for all suicide belts and shoe bombs that you purchase...
19 posted on 04/13/2010 9:52:31 AM PDT by 2banana (My common ground with terrorists - they want to die for islam and we want to kill them)
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To: myknowledge

Ah, MadrassaCard. Don’t start jihad without it.


20 posted on 04/13/2010 9:54:07 AM PDT by thethirddegree
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To: All

IOW another way for Obama to obtain more overseas donations via credit cards.


21 posted on 04/13/2010 9:58:32 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: myknowledge; RC2
You two clearly did not read the article. Try it. It is highly recommended here at FR.

From the article:

UM Financial plans to market the card to all Canadians.
22 posted on 04/13/2010 10:14:52 AM PDT by LanaTurnerOverdrive ("I've done a few things in my life I'm not proud of, and the things I am proud of are disgusting.")
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To: myknowledge
I posted this on 4/10/10.

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.

23 posted on 04/13/2010 10:34:16 AM PDT by Irish Queen (No Jesus - No Peace / Know Jesus - Know Peace)
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To: thethirddegree

“Suicide vests on aisle 3!”


24 posted on 04/13/2010 10:41:08 AM PDT by Pining_4_TX
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To: LanaTurnerOverdrive

Don’t try to inject facts into the Two Minutes’ Hate.


25 posted on 04/13/2010 11:02:58 AM PDT by SoothingDave
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To: UCFRoadWarrior
ShariaCard...Don’t go to the Mosque without it!

Plus, you earn double miles when you buy one-way plane tickets or flying lessons!

26 posted on 04/13/2010 11:06:24 AM PDT by Andonius_99 (There are two sides to every issue. One is right, the other is wrong; but the middle is always evil.)
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To: RC2

Dhimmitude 101.


27 posted on 04/14/2010 12:14:14 AM PDT by myknowledge (B.H. Obama's just a frontman. A frontman for who? The globalist elite, stupid!)
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To: ApplegateRanch

Isn’t a fee essentially interest?


28 posted on 04/15/2010 6:25:13 AM PDT by RockinRight (Obama Logic: Global Warming causes blizzards, and deficit spending balances budgets.)
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To: RockinRight
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.

29 posted on 04/15/2010 10:38:27 AM PDT by ApplegateRanch (If Liberalism doesn't kill me, I'll live 'till I die!)
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