|Home | Articles | News | Blog | About | Mailing List | Resources | Prominent Islamists | Middle East Forum | Keep Us Informed | Donate|
Muslims get interest-free loans
by Nick Gardner and Warner Russell
One of Australia's major banks is planning to introduce "Muslim-friendly" loans that do not charge interest, to comply with Sharia law.
Instead, the National Australia Bank will structure an Islam-approved line of finance to make money from alternative methods.
These include profit-sharing on the transaction, joint-ventures or leasing-type arrangements.
Note: The content of external articles does not necessarily reflect the views of Islamist Watch.