Quote:So what's the big deal? If a private lender sees an untapped market and is trying to package loans to a group that for whatever reason isn't participating good for the investor. Either they'll figure out how to make money or they won't make very many loans. That's called capitalism, catering services to the market it's what investors are supposed to do.


Now if the state was funding the investment that's a different story but I don't think that's what's going on. They won't call it interest they'll call it fees is my guess. Here's a 200k loan for your house Muhammad each time you make your 1500 payment we're charging a $500 fee and transferring $600 in escrow to pay the taxes and insurance, nope we'll never charge you any interest just the flat fee each payment Muhammad.

 

That's what it sounds like to me.  The government is trying to break down barriers that would prevent banks from creating loans that would fit with the sincerely held religious beliefs of Sharia Muslims.  If this were "Christians" instead of "muslims" I imagine people would be calling this a good thing.  But since it's Muslims... 

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