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Seattle officials join push for Sharia-compliant mortgages, loans

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Story I loathe Fox News but it has the story.....

 

<p style="font-size:17px;font-family:'Helvetica Neue', Helvetica, Arial, sans-serif;">"WASHINGTON –  A proposal in Seattle meant to increase homeownership among Muslims by offering financing compliant with strict Islamic law -- known as Sharia -- is gaining ground in the latest test for local leaders trying to accommodate diverse religious beliefs.

<p style="font-size:17px;font-family:'Helvetica Neue', Helvetica, Arial, sans-serif;">"We will work to develop new tools for Muslims who are prevented from using conventional mortgage products due to their religious beliefs," Seattle Mayor Ed Murray said during a press conference July 13.  

<p style="font-size:17px;font-family:'Helvetica Neue', Helvetica, Arial, sans-serif;">"Sharia," which comes from the Koran and means "the right path," prohibits the payment of interest -- the primary way lenders earn. Many of Seattle's 30,000 practicing Muslims, therefore, are hard-pressed to find Sharia-compliant financing options when buying homes, making large purchases or starting a business." 

<p style="font-size:17px;font-family:'Helvetica Neue', Helvetica, Arial, sans-serif;">What are your thoughts? 


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Seattle officials join push for Sharia-compliant mortgages, loans - by americus 2.0 - 07-23-2015, 05:19 PM



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