posted by Nilk @ 8:25 PM
WTF is this?? 'Sharia' home loans? It's a joke right?
My understanding of 'Sharia' financial dealings is interest rates are strictly haram (described as usary and blamed as a Jooooo thing).I see they get around this by not charging an interest rate but amortising the full cost of the item (or loan) plus a profit margin.-- Nora
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Please leave your Political Correctness at the door. Freedom of speech and thought are mandatory. Good grammar will be rewarded (although posting and drinking may impact upon this at times).
I rock, and that is all anyone needs to know about me. Oh, and I also suffer a deplorable lack of humility.
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2 Comments:
WTF is this?? 'Sharia' home loans? It's a joke right?
My understanding of 'Sharia' financial dealings is interest rates are strictly haram (described as usary and blamed as a Jooooo thing).
I see they get around this by not charging an interest rate but amortising the full cost of the item (or loan) plus a profit margin.
-- Nora
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