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Islamic Finance Briefing - Categorized | Banking, Emerging Trends, Finance, Market Moves more

Islamic financing in Washington State for purchases and refinances

Posted on 03 July 2009

Devon Bank, one of the first banks in the United States to offer financing that enables observers of Islam to buy homes and commercial properties in a manner consistent with their faith now makes its services available in the State of Washington.

Today, in response to local demand, the Bank began accepting applications for residential purchase and refinance transactions, as well as for conventional mortgages. Islamic law (Shariah) prohibits paying or receiving interest for the use of money. A large segment of Devon Bank customers are observers of Islam and prefer to avoid traditional interest-based loans or mortgages. Now offering availability in 38 states nationwide, Devon Bank is at the forefront of Shariah-compliant financing products in the United States……….For Details: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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