Seattle mayor assists Sharia followers with home loans

[thereisnospoon]

Who cares?

Seriously. There are hundreds of "sharia compliant" lenders all over the country, it's a very profitable market in many places.

Why do you care how others choose to do business?

Why do you care so much about not offending Muslims? What's in it for you?
Do you agree with Muslims in that for example women are mere chattel? Do you support honor killings?
Stoning of adulterous women? Murder of female rape victims? Cruel and unusual punishment for the smallest of crimes such as petit larceny?
Look as though you Muslims supporters have some kind of war on women going on....
See how this works, Doc? How easily you get caught up in your own hypocrisy?
You needn't bother responding. The cat is out of the bag. No amount of protestation or sling of insult will permit you to escape.
Just admit that you are a hypocrite. Done......
Nope, don't do it. Conversation is over.

 

[thereisnospoon]

I find it remarkable and quite sad how liberals will blast Christians at every turn. Some even coming up some of the most vile filth when referring to Christianity and Christian believers in general. Yet for all their anti -religious rhetoric will at the drop of a hat step up to the plate for Islam. Even at their own expense.

 

[thereisnospoon]

Since you are so offended by the idea of Sharia loans.

I would advise you not to get one. ......

Would you care to elaborate?

 

[Moonglow]

Sharia allows commissions to paid to Hawala brokers so maybe this banker has figured out a way to structure all the interest expected upfront.

Yes it called fees...

 

[Moonglow]

Since you are so offended by the idea of Sharia loans.

I would advise you not to get one. ......

Would you care to elaborate?

Don't get a loan...

 

[thereisnospoon]

Who cares?

Seriously. There are hundreds of "sharia compliant" lenders all over the country, it's a very profitable market in many places.

Why do you care how others choose to do business?

the bottom line is that shariah compliant comes out no different from-----the other way. The details are just named differently-----no INTEREST-----more like
"joint venture"-------it is a fiction

Of course. So what?

Why do you care?

Why do you care?

Personally, I find the semantic games of the sharia compliant allah monkeys quite amusing. They think charging or paying "interest" is a sin, but if you front load the "interest" well, that's just fine and dandy! I bet these fuckers are all eating bacon too.....

I bet those fuckers At Meydan Race Course are betting up a storm as well.

 

[thereisnospoon]

Since you are so offended by the idea of Sharia loans.

I would advise you not to get one. ......

Would you care to elaborate?

Don't get a loan...

WHAT?.....I didn't ask you, fart smeller.

 

[Moonglow]

Sharia law is just like early to middle ages Christianity.It was a sin to charge interest for a loan...

 

[Sunni Man]

Would you care to elaborate?

Infidels have no reason to get a Sharia loan........I hope that helped. ......

 

[Where_r_my_Keys]

Very helpful of him, and it's an idea that's catching on:

Seattle mayor offers plan to help followers of Sharia law buy houses - Puget Sound Business Journal

From the piece:

On Monday, Murray's housing committee released its recommendations for ways the city can increase housing in the city. Most ideas were what you'd expect, including increasing the city's housing levy and implementing new rules and regulations to foster development of market-rate and lower-income housing.

One suggestion would help followers of Sharia law buy houses. That's virtually impossible now because Sharia law prohibits payment of interest on loans. The 28-member committee recommended the city convene lenders and community leaders to explore options for increasing access to Sharia-compliant loan products.

More and more lenders are offering Sharia-compliant financing, according to a USA Today report. The sector has grown to more than $1.6 trillion in assets worldwide over the past three decades, and analysts see potential for continued growth as the number of Muslims in the United States and Europe grows.

.

Well... THAT is a first class case of "SHIPITSASSTOGITMO" right there.

 

[Sunni Man]

Sharia law is just like early to middle ages Christianity.It was a sin to charge interest for a loan...

Actually, it came from the Jewish OT...... and was called usury. .....

 

[thereisnospoon]

Sukuk - Wikipedia the free encyclopedia

I don't really understand it, sound like they own part of the asset.

It is not all that complicated------Islamic rules of economics stymie business completely-----because money cannot be borrowed or loaned if "interest" is involved. ----in order to overcome the problem ---jewish economic professors
created a loophole that sorta make the "FINANCIER" a part owner of the
asset and the person financed-----a kind of "tenant" -----the tenant pays a kind
of rent----rather than interest on the ----"loan" or a "mortgage" payement. It is simple----the jewish economics professor that was hired by Saudi Arabia to fix up their banking system ----explained it to me. The Pharisee mind is awesome

Who cares?

Seriously. There are hundreds of "sharia compliant" lenders all over the country, it's a very profitable market in many places.

Why do you care how others choose to do business?

the bottom line is that shariah compliant comes out no different from-----the other way. The details are just named differently-----no INTEREST-----more like
"joint venture"-------it is a fiction

Sukuk - Wikipedia the free encyclopedia

I don't really understand it, sound like they own part of the asset.

It is not all that complicated------Islamic rules of economics stymie business completely-----because money cannot be borrowed or loaned if "interest" is involved. ----in order to overcome the problem ---jewish economic professors
created a loophole that sorta make the "FINANCIER" a part owner of the
asset and the person financed-----a kind of "tenant" -----the tenant pays a kind
of rent----rather than interest on the ----"loan" or a "mortgage" payement. It is simple----the jewish economics professor that was hired by Saudi Arabia to fix up their banking system ----explained it to me. The Pharisee mind is awesome

Just another way for people with money to get rich off of people without money. I think they came up with it themselves. Jews charged interest off of non jews.

exp. and the same works for house:
. Just tacking on extra money to the amount of asset. Real winner for the banks

selling the vehicle at a higher-than-market price to the debtor and then retaining ownership of the vehicle until the loan is paid

Hey genius. If loaning money to another has no financial incentive ( return on the investment) what would be the purpose of making a loan?...
Let's clear some thing up here right now.
Person A has no money..Person B does. Person A wants to make a purchase. A finds out that B has money and would like some. B agrees to give A some money but under certain conditions. One is the money must be paid back in certain and limited time period. Two, if A fails to repay or is otherwise in breech of the terms. B has the right to retain the property which B's money was used to purchase.
It's called a contract. A gets the benefit of possession and enjoyment of the property by using B's money. B gets to realize a return on his investment. Everybody wins.

 

[thereisnospoon]

It is not all that complicated------Islamic rules of economics stymie business completely-----because money cannot be borrowed or loaned if "interest" is involved. ----in order to overcome the problem ---jewish economic professors
created a loophole that sorta make the "FINANCIER" a part owner of the
asset and the person financed-----a kind of "tenant" -----the tenant pays a kind
of rent----rather than interest on the ----"loan" or a "mortgage" payement. It is simple----the jewish economics professor that was hired by Saudi Arabia to fix up their banking system ----explained it to me. The Pharisee mind is awesome

the bottom line is that shariah compliant comes out no different from-----the other way. The details are just named differently-----no INTEREST-----more like
"joint venture"-------it is a fiction

It is not all that complicated------Islamic rules of economics stymie business completely-----because money cannot be borrowed or loaned if "interest" is involved. ----in order to overcome the problem ---jewish economic professors
created a loophole that sorta make the "FINANCIER" a part owner of the
asset and the person financed-----a kind of "tenant" -----the tenant pays a kind
of rent----rather than interest on the ----"loan" or a "mortgage" payement. It is simple----the jewish economics professor that was hired by Saudi Arabia to fix up their banking system ----explained it to me. The Pharisee mind is awesome

Just another way for people with money to get rich off of people without money. I think they came up with it themselves. Jews charged interest off of non jews.

exp. and the same works for house:
Just another way for people with money to get rich off of people without money. Just tacking on extra money to the amount of asset. Real winner for the banks

selling the vehicle at a higher-than-market price to the debtor and then retaining ownership of the vehicle until the loan is paid

Don't like paying interest? Pay cash.

finances started getting more complicated than that some 3000 years ago. another alternative is ----don't buy a house----live in a banana tree----

Or buy appreciating assets with borrowed money, and pay the interest as a cost of doing business with other peoples money.

thanks for your input PONZI

Obviously you have no clue about finance or know the definition of a Ponzi scheme. Otherwise you would not have posted that vapidity.
I suppose you are one of these college grads with a non marketable degree in the humanities who was told that a college degree is a guarantee of a high paying job, and of course you ended up with $200k in student loan debt and a job serving coffee left wing moon bats in Starbucks.

 

[thereisnospoon]

it's not hypocritical-----it just accomplishes what everyone else is doing whilst pretending that it is not what everyone else is doing-----its the only way to go
if one insists on doing things the shariah way------because the shariah was does
not work

As usual.....you don't have a clue......and I'm not going to explain it to you. ......

Sharia is incompatible with freedom and liberty. It is also incompatible with our Constitution.
It ends RIGHT THERE....

 

[thereisnospoon]

Sharia allows commissions to paid to Hawala brokers so maybe this banker has figured out a way to structure all the interest expected upfront.

Yes it called fees...

Interest.....

 

[irosie91]

Sharia law is just like early to middle ages Christianity.It was a sin to charge interest for a loan...

Actually, it came from the Jewish OT...... and was called usury. .....

usury is not a Hebrew word. Rules regarding the charging of interest in the OT refer to exploitation-----they do not rule out interest entirely if the agreement is mutually beneficial. The solution to the shariah dilemma is taken from jewish jurisprudence of the Talmudic age----ie---more than 2000 years ago-----the issue of
MUTUAL benefit was required----loans had to be constructed as a kind of business partnership. American bankruptcy laws hail back to the Talmudic
approach, also.