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special ZERO INTEREST mortgages for Sharia-compliant home buyers
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Original Message
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This is all new to me...have never heard of this program offering zero interest loans to sharia compliant home buyers.
I searched the GLP archives, nothing came up, so hopefully it's not a repeat. First article dated July 2nd, 2012....second one August 2010
<snip>
Then he heard about the Michigan-based Ijara Loans, one of a handful of Islamic financing companies in the United States. They’ve tapped into a niche market of devout Muslim-American homebuyers by offering ”Sharia compliant” home purchasing contracts which do not include actual interest.
”That day they got really excited, when they learned that they were able to still buy a house and not compromise their religious values,” Nabi says of his parents.
When the Sahak family bought the Sterling townhouse in 2010, they joined about 10,000 other Muslim-Americans who’ve purchased homes in the past 10 years using Sharia-compliant financial transactions.
Guidance Residential, based in Reston, Virginia, is the largest company in the United States which offers Sharia financing. At its spacious headquarters, phone operators manage calls from customers mostly in a mix of English and Arabic.
Spokesman Hussam Qutub says the company has processed $2.3 billion in Islamic home financing transactions since it launched in 2002.
”Relief that it does exist is definitely the feeling among the majority of the people who contact us,” Qutub says. ”We are in a sense impacting the ownership rates of Muslim-Americans in a positive way.”
[link to creepingsharia.wordpress.com]
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here's another article
<snip>
The financial jihad has now achieved its greatest coup so far: It has co-opted the U.S. government as a partner. In fact, if you would like to see a contributor to the jihad, have a look in the mirror. Thanks to the Obama administration, every one of us is complicit. The bailout bonanza made each of us an owner of American Insurance Group (AIG). Under the stewardship of its real CEO, Treasury Secretary Timothy Geithner, AIG proudly runs the world’s most lavishly funded sharia-compliant insurance business — and it is desperately trying to convince a federal court in Michigan that no one should have a problem with that.
Sharia-compliant finance (SCF) is now a thriving American industry. Sharia is Islam’s authoritarian legal framework. It aspires to control not merely spiritual life but all aspects of society, including economic matters. The purpose of SCF is to advance that mission in two important ways.
[link to www.nationalreview.com]
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