oh ffs
It does say in the article that "The account will also be open to non-Muslims"
which is nice...
Although it would be funny to see how the bank would ascertain your religion, trick questions and all 
To be fair, most normal student accounts offer interest free overdrafts of similar amounts.
A £2000 interest free overdraft is pretty standard with any student account. The only difference with this one is that they don't PAY YOU
interest when you're in credit, so actually it's worse that a normal account.
The interest free overdraft is a good money-maker for the banks as they encourage you to use it all, then as soon as you graduate they start charging
interest.
What I don't understand is the Sharia Mortgage - how can the bank make moeny out of that if they don't charge interest?
Sharia Law....in the UK.
and so it begins. How long before they have their own courts.
...or is the country going to hell in a handcart!!
Think I'm gonna move to OZ!
quote:
Investment in companies involved with alcohol, gambling, tobacco and pornography is also strictly off limits
its an excellent marketing idea, filling a niche in the market. They hope to pick up customers for life, and enjoy free publicity. Muslims practising
sharia cant technically get mortgages or credit. There are facillities to get mortgages now where it is worded as rent for however long followed by a
gift of a free house.
Cant see any problem myself, after all, its sharia compliant not sharia law.
quote:
Originally posted by DorsetStrider
oh ffs
fucking mindless, the bastards are taking over.
Its time we stood up to be counted, any comment from the church?
I thought not....
As said its not much different from any other student overdraft.
How is the money going to be spent though if the students arnt allowed to invest in gambling and alcohol though!
AFAIK Islamic mortgage works by the bank owning the building in total and charging "rent" instead of interest with some part of the
"rent" being put aside to "buy" the house for the original price at the end of the period. Basically a straight forward repayment
mortgage with the terms used being different. A huge load of BS if you ask me!
Caber
quote:
Originally posted by Gazza
...or is the country going to hell in a handcart!!
Think I'm gonna move to OZ!
