Free Republic 2nd Qtr 2026 Fundraising Target: $81,000 Receipts & Pledges to-date: $14,545
17%  
Woo hoo!! And now only $35 to reach 18%!! Thank you all for your continued support!! God bless.

Keyword: islamicmortgages

Brevity: Headers | « Text »
  • New Islamic Mortgages Now available in Minnesota (Muslims dont like to pay interest)

    03/03/2009 12:12:47 PM PST · by TheRedSoxWinThePennant · 86 replies · 2,659+ views
    Minnesota Public radio ^ | 1 Mar 09 | Jessica mador
    For many Minnesota Muslims, it's been virtually impossible to buy a home, because Islamic law forbids the paying or charging of interest. The African Development Center, with support from the state's housing agency, is now offering Islamic mortgages as a way to help close the home ownership gap among Muslim immigrants. Minneapolis, Minn. — Islamic law does make exceptions to the ban on interest, if one's family is at stake. But the exceptions are open to interpretation and for many observant Muslims, conventional mortgages are strictly taboo. Nawawi Sheikh is one of them. The Somali-American says he and his wife...