Posted on 08/22/2011 8:07:19 AM PDT by rightwingintelligentsia
Just like payday loans - it’s not “interest”, it’s a “service fee”.
Pre-pay the “service fee” and we’ll charge you no interest on your student loan.
I recommend they go where Maxine Waters suggested the Tea Partiers go.
Guess what, Muzzies - the society you are invading does not have to allow you the means to undermine it!
As with most things involving Islam - reality is quite different than what is said.
A “sharia” loan will not charge “interest” - instead there will be a “fee” of some sort that will accomplish the exact same thing.
Sort of like how prostitution is forbidden - but an hour long “marriage” to a woman with an accompanying payment to her - that is all A-OK.
good question!
...i don’t know how Fannie Mae handles the sharia compliant loans (or Bank of America, or others, who do sharia financing.)
generally, while interest free, the total cost is higher. (simply interest, in another form. reality trumps Islam.)
but, if it’s a better deal, why not sign up?
sorry i didn’t see yours first. great explanation.
and perfect example of their hypocrisy,
using “temporary” marriage.
right now, the easiest way, seems a sharia 2nd mortage,
used to pay for college. but i’d still bet if Obama doesn’t have it now, it soon will be available, under some method. some related links i just saw:
http://minoritydreams.com/tag/sharia-law/
Islamic loans turn profit for banks in USA
http://www.usatoday.com/money/industries/banking/2008-03-26-islamic-finance-sharia_N.htm
Inside Britain’s Sharia Courts...If You’re a Woman Seeking Divorce Due To Abuse...Good Luck
http://holgerawakens.blogspot.com/2011/08/inside-britains-sharia-courtsif-youre.html
ISLAMIC COUNCIL ENFORCES SHARIA LAW
WITH CANADIAN FEDERAL APPROVAL
http://www.balaams-ass.com/alhaj/shariacanada.htm
We bailed out AIG with TARP, which I think is one of the largest providers of Sharia compliant financial products.
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that is a brilliant point. i had forgotten about that!
...as i recall, the first part in Europe (Bear Sterns?) also took down the Bank of Scotland? which also was a BIG backer of Sharia finance.
i’d be very curious in learn more, about how it all tied in.
(perhaps the Sharia loans, caused extra problems with accounting?)
i’m not too good on economics, i’m sure you know much more, or know others who do. so maybe you can find a way to mention that, on some money threads.
Everything Islam touches, it corrupts, or kills.
“How do moslim banks make any money if they cannot charge interest on loans?”
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if you didn’t see it, MrB in #41, and allmendream in #45,
explained it best.
.
“ and demanded a separate check out line for Muslims. “
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interesting story! i wish more people would share such stories.
(and i suspect we will see it more often, as the number of muslims increase.)
http://shariahthethreat.org/a-short-course-1-what-is-shariah/a-short-course-14-the-muslim-brotherhood%e2%80%99s-strategic-plan/
like the lawsuits at Abercrombie to wear the hiqab, these are all straight out of the M.B.’s own written plan:
Forcing compliance with shariah at local levels;
Employing lawfare the offensive use of lawsuits and
threats of lawsuits;
Claiming victimization / demanding accommodations;
Demanding recognition of shariah in non-Muslim spheres;
Thanks rightwingintelligentsia.
The equal protection clause prohibits an arrangement like this.
Anyone voting to implement it will be removed from office, by whatever means are appropriate. Period.
No one has a gun to their heads (although we should, and then pull the trigger) to get a student loan; likewise, there’s no requirement that they pollute our universities, any more than there is a requirement that they continue to pollute the rest of our society.
Actually they demand to pay more than they would have done in a normal bank, i.e. they are stpd.
one random example:
- I’m afraid, I have to disappoint you. But what is known today as Islamic banking has no relation to Islam. The fact that Islamic banks are more humane and provide an alternative to secular banks is a lie. If you examine closely the system of their work, then you will see that they do not differ from other banks. Therefore, I can tell you that the situation with the debtors in Islamic countries is no different from yours. Moreover, I will say that Islamic banks have generally higher interest rates than secular banks. Therefore, the situation may be even worse.
One of the most popular and phony Islamic finance models is the sale/lease-back structure, known by the exotic name sukuk al-ijara (see here, page 174). The property, or other asset, is immediately sold to a Special Purpose Vehicle (SPV) or bank, which then leases the property back to the original buyer. At the end of the lease the SPV or bank gives the property back to the original buyer completing the transaction.
However, the SPV or bank calculate the propertys price (and the subsequent rental price) by taking into account a whole terms worth of interest. So, just because the customer isnt aware of a monthly interest, does not mean this interest is not present. On the contrary, it has already been added at the beginning of the process.
http://freedomnewsnetwork.co.uk/the-islamic-banking-scam
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