Seattle mayor proposes Sharia-compliant loans as part of affordable housing plan

Another house recently flipped in the Central District after the previous owner went into foreclosure. (Photo by Alex Stonehill)
Another house recently flipped in the Central District after the previous owner went into foreclosure. (Photo by Alex Stonehill)

As Seattle considers ways to address housing affordability, Mayor Ed Murray’s proposal released last week called for exploring ways to help low- and medium-income Muslims who follow Sharia law purchase homes.

Murray’s proposal, first reported by the Puget Sound Business Journal, calls for community leaders and lenders to collaborate on exploring different options.

“The City will convene lenders, housing nonprofits and community leaders to explore the best options for increasing access to Sharia-compliant loan products to help these residents become homeowners in Seattle,” according to his proposal released last week.

Islamic law prohibits paying or collecting interest, so traditional mortgages are out of reach for people who adhere strictly to Sharia law.

However, banks worldwide and in the U.S. have developed Sharia-compliant ways to raise capital for their businesses and borrow money for homes and cars, according to a 2014 article in USA Today.

The Guardian explains that several options for Sharia-compliant financing includes leasing agreements, profit-sharing and other means of trade that do not involve interest payments.

4 Comments

  1. The slight deviations from the legal mode of American law to accommodate any ideology that claims religious protection to literally replace, not only American values but to create laws that are not consistent with our state constitution as well as our American Constitution by sneaking in their laws to replace secular laws where all Americans assimilate as Americans is absolutely scandalous. The facts are that the Islamic ideology does not recognize American, Christian value, secular or affirmation oaths. The Qur’anic oath affords Muslims to lie and deceive the “kafir” in the furtherance of sharia law. God only know how these people secured visas, residency, refuge or American citizenship when in reality their Islamic citizenship is called “brotherhood” and their allegiance is to the conceptual nation of Ummah Islam or Nation of Islam. In effect they come as colonists with the future intent to replace our government with sharia law. Those who “with a smile and suggesting this is some form of assimilation based on diversity should be exposed as domestic enemies of the state. The mayor should be impeached and those of the Islamic ideology should be peacefully deported or renounce their allegiance to an ideology that can not legally conform to our national heritage and values.

  2. Seattle has always had problems with crazy groups spewing incoherent drivel and handling weapons in a very irresponsible manner. Example: Kurt Cobain

  3. Let me see if I get this right. Muslims don’t pay interest because it’s against their religious beliefs so they will get a special law. A Christian who won’t make a cake for a same sex wedding because it’s against their religious beliefs gets the law thrown at them. Does that about sum it up?

Comments are closed.

4 Comments

  1. The slight deviations from the legal mode of American law to accommodate any ideology that claims religious protection to literally replace, not only American values but to create laws that are not consistent with our state constitution as well as our American Constitution by sneaking in their laws to replace secular laws where all Americans assimilate as Americans is absolutely scandalous. The facts are that the Islamic ideology does not recognize American, Christian value, secular or affirmation oaths. The Qur’anic oath affords Muslims to lie and deceive the “kafir” in the furtherance of sharia law. God only know how these people secured visas, residency, refuge or American citizenship when in reality their Islamic citizenship is called “brotherhood” and their allegiance is to the conceptual nation of Ummah Islam or Nation of Islam. In effect they come as colonists with the future intent to replace our government with sharia law. Those who “with a smile and suggesting this is some form of assimilation based on diversity should be exposed as domestic enemies of the state. The mayor should be impeached and those of the Islamic ideology should be peacefully deported or renounce their allegiance to an ideology that can not legally conform to our national heritage and values.

  2. Seattle has always had problems with crazy groups spewing incoherent drivel and handling weapons in a very irresponsible manner. Example: Kurt Cobain

  3. Let me see if I get this right. Muslims don’t pay interest because it’s against their religious beliefs so they will get a special law. A Christian who won’t make a cake for a same sex wedding because it’s against their religious beliefs gets the law thrown at them. Does that about sum it up?

Comments are closed.