? I have an idea, but....
Its been around for a decade in America
“Guidance” is a group that does it.
I know several people who have shariah compliant home loans that have managed to weather this storm much much better then those who bought their homes with ARMs
Do a bit of research on it. It actually makes quite a bit of sense
It’s nothing terribly sinister. In order to make loans Shariah compliant, lenders and borrowers have to jump through a few extra hoops to make it look like no interest is actually paid. The interest is disguised as rent and fees, but the whole thing is kind of a sham.
I know Citibank offers these types of programs. Of course, given the extra administrative costs, a borrower in a Shariah-compliant loan ends up paying a higher interest rate, if you crunch the numbers. An non-Muslim could take one of these loans if they wanted to, I suppose, but that would be a foolish move on their part.
Obama Wins, Economy’s Doomed:
Peter Schiff, president of Euro Pacific Capital and author of ‘The Little Book of Bull Moves in Bear Markets,’ says a big-government Obama administration will lead to an economic collapse on par with the Great Depression.
Sun 11/09/08 04:59 AM EST — Gregg Greenberg
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