Sunday, September 9, 2007

Gates of Vienna: Swedish Banks Urged to Adopt Shari’a

Gates of Vienna: Swedish Banks Urged to Adopt Shari’a:

"Stockholm’s local administration is actually lobbying for banks to
institute “Islamic banking,” i.e. Shari’a-compliant loans (Muslims should pay
less for loans than native Stockholmers — Jizyah, as it is called in the
Koran)."


They should have the right to have loans that are sold at special interest rates, loans are products and if someone wants to sell something for less than its value it shouldn't be illegal. That doesn't mean that banks should be forced into selling them, either main stream banks can sell them or they can set up their own banks to sell them. Any main stream bank would have to report to its share holders and explain to other customers why they are selling their loans undervalued to Muslims though.

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