Article

2009-01-21 Europe

French college launches Islamic finance degree

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Posted by ryuge 2009-01-21 05:51|| || Front Page|| [11132 views ] Top

#1 For example, an Islamic bank would not lend a would-be homeowner a mortgage and charge him interest, but could buy him the home, give it to him and allow him to repay the sum in installments with a fixed profit margin.

HUD has a similar program, which is likely to very soon expand. The difference is, the residents never gain ownership.

There are approximately 1.2 million households living in public housing units, managed by some 3,300 HAs. The U.S. Department of Housing and Urban Development (HUD) administers Federal aid to local housing agencies (HAs) that manage the housing for low-income residents at rents they can afford.

Posted by Besoeker 2009-01-21 07:13|| 2009-01-21 07:13|| Front Page Top

#2 but could buy him the home, give it to him and allow him to repay the sum in installments with a fixed profit margin.

And if you fail to make payments on time, you will have to answer to the banks friendly collection agency.

Posted by tipper 2009-01-21 07:54|| 2009-01-21 07:54|| Front Page Top

#3 For example, an Islamic bank would not lend a would-be homeowner a mortgage and charge him interest, but could buy him the home, give it to him and allow him to repay the sum in installments with a fixed profit margin.

And that's different from charging interest in what manner? Fucking Einsteins, the lot of 'em...

Posted by Raj 2009-01-21 08:22|| 2009-01-21 08:22|| Front Page Top

#4 French college launches Islamic finance degree

Following the American model of 'validating' skills through paper to create more income to their own coffers.

Posted by Procopius2k 2009-01-21 08:35|| 2009-01-21 08:35|| Front Page Top

#5 For example, an Islamic bank would not lend a would-be homeowner a mortgage and charge him interest, but could buy him the home, give it to him and allow him to repay the sum in installments with a fixed profit margin.

So you don't get the front-loaded interest payments from the guy like a regular loan.
You carry your risk the entire length of the loan and create an even riskier situation.

Posted by bigjim-ky 2009-01-21 10:02|| 2009-01-21 10:02|| Front Page Top

#6 -- and will not invest in firms that produce products seen by Muslims as "haram" or forbidden

And to skirt European anti-discrimination lending laws the decision of who qualifies for a loan is based on need. In other wordsSure Milesyou can sign upnow go fill out the paperwork at the back of the line Infidel!

Posted by DepotGuy 2009-01-21 10:04|| 2009-01-21 10:04|| Front Page Top

#7 Money Laundering 101?

Posted by mojo 2009-01-21 13:39|| 2009-01-21 13:39|| Front Page Top

#8 on the other hand, I imagine there are very few defaults if sharia is applied to loan repayments. Kinda like borrowing from the mafia....

Posted by Spolugum Smith5232 2009-01-21 18:28|| 2009-01-21 18:28|| Front Page Top

#9 They give degrees for learning the 5-finger discount methodology?

Posted by JohnQC 2009-01-21 18:49|| 2009-01-21 18:49|| Front Page Top

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