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Islamic finance in Ireland (was Muslims and "interest free" mortgages)

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    #32
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Folks - from here on in, limit this discussion to Islamic finance products.

    This is not a debate about Islam, Muslim immigration to Ireland etc.

    The astounding lack of education (or even cursory Google's on the topic) displayed by some posters here is flabbergasting to say the least. As such from this point on any ill-informed or pseudo racist claptrap will lead to infractions and/or bans.


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    #33
    irishconvert
    Registered Users Posts: 1,866 ✭✭✭irishconvert


    rubadub wrote: »
    The banks should not have to supply them interest free, just like if my religion said I could not eat meat I should not be able to demand veggie food be served in all restaurants.
    The banks don't have to do anything, they see a business opportunity and are deciding to offer Sharia compliant mortgages. It's a win-win situation for the banks and Muslims.


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    #34
    parsi
    Site Banned Posts: 5,904 ✭✭✭parsi


    Of course it's win-win :they'll be offering a needed service.

    The problem here is that of sloppy journalism.

    The article (and the reaction to it) seems to focus on the "we won't charge interest part" whilst ignoring the part pointed out by other posters "but we will charge rent, service charges, window charges and the like".

    For some unknown reason folk seem to think that all of a sudden banks are going to just lend large sums of money without any charges to a particular group just because that group doesn't believe in paying interest.

    FFS - the banks are not a charity ! They're not going to do this for the good of their health...


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    #35
    Victor
    Registered Users Posts: 78,393 ✭✭✭✭Victor


    The article http://www.timesonline.co.uk/tol/news/world/ireland/article6962747.ece

    I'm not sure €300,000 represents good value in Rolestown with its 5 buses a day.


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