How do you get them to loan you the money if you don’t have to pay any interest?
You go for a loan under Islamic law that has the interest already baked in it.
Yep, they call it ‘fees’.
They charge a fee - they just don’t call it “interest.”
How do you get them to loan you the money if you don’t have to pay any interest?
They figure out what the “interest” would be, add it to the agreed upon amount, call it a profit, and divy up the payments so that you pay that total.
Then they say, see, we did not charge interest, just our profit for the transaction.
How do you get them to loan you the money if you don’t have to pay any interest?If you are paying interest you aren’t under Sharia
The Old Testament doesn’t support interest (“usery”) either.For that reason, the Establishment in Europe needed some non-Christians around to do banking. Jews, ironically . . .
Tabo on collecting interest and yet having credit available is pretty much a square circle. But America is not a theocracy, notwithstanding that the framers of the Constitution concluded the document,
Done in Convention by the Unanimous Consent of the States present the Seventeenth Day of September in the Year of our Lord one thousand seven hundred and Eighty seven and of the Independence of the United States of America the Twelfth.I think that credit is not available, thus the economy is less dynamic, in Muslim countries. Must be a real culture shock not to be able to buy a house with a mortgage . . .
You have to pay an UP FRONT, NON-NEGOTIABLE FEE.
They make loans out of the goodness of their Islamic Terrorist hearts!!
How do you get them to loan you the money if you don’t have to pay any interest?