You'll love Woods' Edge at Salt Creek Golf Retreat, Brown County, Indiana.
Skirting the Shariah
I got a kick out of this. Muslims who want to buy homes but not pay interest, in accordance with Shariah, have an option in the new University Islamic Financial Corp., which allows them to beat the Shariah on a technicality!
University Bank also offers a mortgage alternative loan transaction program - or MALT - which replaces a traditional home loan with a redeemable lease.
The bank holds the home in trust, and a home buyer makes monthly payments to that trust. Each rent payment includes a set amount of savings, which builds the buyer’s equity in the home. When the savings account equals the home’s original purchase price, the buyer owns it.
Via MM.
Trackback URI:
http://myopiczeal.blogsome.com/2006/01/05/skirting-the-shariah/trackback/
http://myopiczeal.blogsome.com/2006/01/05/skirting-the-shariah/trackback/
Muslim Only Banks For Ann Arbor!
Michelle Malkin has a link via The Miami Hearald, that explains how the Ann Arbor-based University Bank has created University Islamic Financial Corp. to offer Muslims home financing, deposit accounts and Islamic mutual fund shares.
This has been goin…
Trackback by Right Voices — January 5, 2006 @ 6:08 pm