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Islamic Finance Briefing - Categorized | Financial Instruments (Credit Cards, Debts, Loans, Mort more

Offering Islamic mortgages to Muslim homeowners

Posted on 12 March 2009

From Wcco.com: A basic opportunity that many Americans have to own a home has been out of reach for Muslim Americans. However, it’s not necessarily that they can’t afford it — it’s because of a strict interpretation of Islamic law that prohibits the payment of interest.

But now through a state private partnership, a new type of mortgage is available. Through a partnership between the African Development Center and the Minnesota Housing Finance Agency, Islamic mortgages are available….. Full Article: Source

 
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