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Not necessarily sunni man. But worth looking into. The Sharia Finance Watch is a project by the Center for Security Policy. They are not a bunch of loonies.
Sharia Finance may be great for the consumer. But that's not the big picture.
Not necessarily sunni man. But worth looking into. The Sharia Finance Watch is a project by the Center for Security Policy. They are not a bunch of loonies.
Sharia Finance may be great for the consumer. But that's not the big picture.
Of course you would feel that way. Only "loonies" oppose Sharia.
The Center for Security Policy is comprised of some of the greatest minds in the anti-terrorism intelligence community. Sorry bout that. Lol
Aren't they the nuts that wanted to make Dubya president for life because democracy is inadequate?Of course you would feel that way. Only "loonies" oppose Sharia.
The Center for Security Policy is comprised of some of the greatest minds in the anti-terrorism intelligence community. Sorry bout that. Lol
The OP is made by someone who admits she knows nothing about Islamic banking, yet she proceeds to lambast it as some form of muslim trick to introduce sharia law. What a load of bollocks! Islamic banking already exists in the USA through financial institutions such as the University Bank Michigan and many American mutual funds. The only difference in Sharia banking is that transactions are not interest based. The system is based on profit and loss sharing.
Amazing how some people will clutch at any straw to fuel their particular political agenda, even when it's wide of the mark. Still, to some, ignorance is bliss.
Chanel and some other people on here rant and rave about sharia compliant loans. But have no idea what makes a loan sharia compliant.
So I will give you a quick simplified version to illustrate how it is not a threat against anyone.
Let's say you found a house to buy for $200,000. Most people would take out a 30 year loan. And monthly payment would be around $1000. Typically the first 20 years. The homeowner would be paying interest and the last 10 years would be principal. So in the end the home would actually cost 600,000
A typical Sharia Compliant Homeloan it works like this .
To the bank the $200,000 home is actually worth to them 600,000 when it's all said and done. So the Muslim buyer to the bank says I will give you 600,000 for the home. And will pay you 3000 a month.
In this way the Muslim homeowner is not paying interest on the money and the bank is still making their $600,000. In reality it's a win-win for both the Muslim and the bank.
So for people to claim that this type of financing is supporting suicide bombing, terrorism and who knows what else is just retarded.
It's just a way for American banks and financial institutions to capture the business of the approximately 7,000,000 Muslims in the United States.
In essence just pure capitalism. Isn't that what American business is all about?
Chanel and some other people on here rant and rave about sharia compliant loans. But have no idea what makes a loan sharia compliant.
So I will give you a quick simplified version to illustrate how it is not a threat against anyone.
Let's say you found a house to buy for $200,000. Most people would take out a 30 year loan. And monthly payment would be around $1000. Typically the first 20 years. The homeowner would be paying interest and the last 10 years would be principal. So in the end the home would actually cost 600,000
A typical Sharia Compliant Homeloan it works like this .
To the bank the $200,000 home is actually worth to them 600,000 when it's all said and done. So the Muslim buyer to the bank says I will give you 600,000 for the home. And will pay you 3000 a month.
In this way the Muslim homeowner is not paying interest on the money and the bank is still making their $600,000. In reality it's a win-win for both the Muslim and the bank.
So for people to claim that this type of financing is supporting suicide bombing, terrorism and who knows what else is just retarded.
It's just a way for American banks and financial institutions to capture the business of the approximately 7,000,000 Muslims in the United States.
In essence just pure capitalism. Isn't that what American business is all about?
The OP is made by someone who admits she knows nothing about Islamic banking, yet she proceeds to lambast it as some form of muslim trick to introduce sharia law. What a load of bollocks! Islamic banking already exists in the USA through financial institutions such as the University Bank Michigan and many American mutual funds. The only difference in Sharia banking is that transactions are not interest based. The system is based on profit and loss sharing.
Amazing how some people will clutch at any straw to fuel their particular political agenda, even when it's wide of the mark. Still, to some, ignorance is bliss.
As soon as you put the word Sharia or Islamic in front of something, it conjures a picture of Osama Bin Ladens face and a mob of Muslims trying to kill Westerners and burning US Flags, I am not saying I agree but this appears to be the case.
Yeah, you didn't tell us that if someone gets one then everyone in the neighborhood is required to wear a burka.That was just an elementrey example of a Sharia based Homeloan.
As with any other financial instrument there are a myriad of ways to figure out payments and payment schedules
Yeah, you didn't tell us that if someone gets one then everyone in the neighborhood is required to wear a burka.That was just an elementrey example of a Sharia based Homeloan.
As with any other financial instrument there are a myriad of ways to figure out payments and payment schedules
The OP is made by someone who admits she knows nothing about Islamic banking, yet she proceeds to lambast it as some form of muslim trick to introduce sharia law. What a load of bollocks! Islamic banking already exists in the USA through financial institutions such as the University Bank Michigan and many American mutual funds. The only difference in Sharia banking is that transactions are not interest based. The system is based on profit and loss sharing.
Amazing how some people will clutch at any straw to fuel their particular political agenda, even when it's wide of the mark. Still, to some, ignorance is bliss.
As soon as you put the word Sharia or Islamic in front of something, it conjures a picture of Osama Bin Ladens face and a mob of Muslims trying to kill Westerners and burning US Flags, I am not saying I agree but this appears to be the case.
I would be among the first to defend my country from Sharia law, but the sharia banking thing is no different to opening a butcher shop selling halal meat. Neither break any laws and they simply cater to a specific section of the community. Many top western banks are introducing sharia banking. Why? Because business is fucking business!
