Posted on 03/31/2010 10:23:17 AM PDT by Free ThinkerNY
A new interest-free credit card, the first of its kind in North America, aims to reconcile Islamic canonical law and Western consumer culture.
Until now, observant Muslims have been precluded from owning credit cards on which they pay interest, a violation of shariah law.
The iFreedom Plus Mastercard, set to be available in the coming days, promises no bills, no interest and no credit card debt.
"Everyone living their day-to-day lives, they need a credit card. You can't rent a car, you can't travel if you don't have a card. Everyone wants one in their pocket," said Omar Kalair, president of UM Financial, a Toronto-based Islamic financing firm that is launching the card with the Mastercard brand.
(Excerpt) Read more at nationalpost.com ...
Yep. This is basically the same thing as my checking account with debit card, only:
A) I don’t pay a yearly/monthly fee to use it. I have direct deposit at least once a month.
B) I don’t pay $.95 every time I use it. Actually, I have keep the change and BoA matches like 1% of that or something.
So think of it as a card with the negatives of debit (need to have enough in account) and the negatives of credit (interest/charges on purchases).
“MasterCard offers card aimed at Muslims”
Is there a picture of the collapsing Twin Towers on the card?
Never forget.
OH OKAY I think You get plantuim card on those weapons LOL!
OH MAN Islamic rage boy is poster card of this new ad campaign
Well he maybe less annoying than Flo from car insurance company LOL!
Put the Mohammed Cartoon on it!
Wait ... isn’t “interest” Haram?
Scimitar Ginsu 19 dollars
Explosive Vest 40 dollars
72 Virgins Priceless
For everything else, there’s JihadCard.
Don’t leave the cave without it.
Christianity had the exact same rules early on, but people tend to forget this. The word 'usury', from the Latin 'usuria', means 'interest', not 'high interest' which is what we now take it to mean.
The Bible forbids lending money to those in your community with interest several times, including in Deuteronomy 23:20, which says that a person may charge a non-Jew interest, but never a Jew.
Deuteronomy 23:20 Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury: that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it.
The First Council of Nicea in 325 forbade usury by clergy, and later councils expanded it to laity. The strongest rules against usury were probably formed at the Council of Lyon in 1274 and the Council of Vienna in 1312. Usurers were refused confession, Christian burial, and their wills were declared invalid.
More information: http://www.appropriate-economics.org/materials/Why%20do%20religions%20prohibit%20usury.htm
Or read the text of the various councils.
If I recall correctly, Henry VIII first decided that some forms of Usury weren't all that bad and allowed it sometime around 1545. I think it was called "An Acte Agaynst Usurie" & it set maximum rates for the first time.
Sounds good to me.
Some animals are more equal than others.
You can be sure women will not be allowed to use this card....unless accompanied by their husband or adult brother....
Afghanistan Express, Don’t Blow up Home without it.
Warning: please do not cut this card.
This card will give you extra virgin points.
Sure wish I had a Mastercard so that I could cancel it.
Hey, nothing wrong with a little profiteering at the Moon-cult’s expense....
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