‘Halal’ loans could be introduced at Norwegian bank

RT reports:

A Norwegian bank could start providing its customers with interest-free loans in compliance with the principles of Islam, after almost 300 prospective customers expressed interest in only one week.


Earlier in January, the bank Storebrand launched a website in order to gauge the level of interest in the product from Muslim customers who may not want to take out a traditional interest based mortgage.

Since Islam forbids the charging of interest, the loans would work by having the bank buy a property on their customer’s behalf, then “renting” is out to them until the debt is repaid. Norwegian Muslim groups such as the Islamic Council of Norway and IslamNet urged their supporters to show interest in the scheme.

The struggles of multiculturalism.