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Minnesota Finishes Islamic Law Compliant Mortgages
In Minnesota, Gov. Pawlenty has ended a loan program meant to increase minority home ownership. The loan program has only provided three mortgages. The mortgage program offered Shairia compliant loans that didn’t charge interest. Pawlenty cited constitutional religious protections when shutting down this program. Article source – Sharia-compliant mortgage program in Minnesota ends by MoneyBlogNewz.
No interest on a home loan
The African Development Center and Minnesota’s state housing agency got together in 2010 to start a new loan program. The program is for those who follow Sharia law and are low- to moderate-income families. The borrower does not have to pay interest, which is against their religion, when getting the “Islamic mortgages” or “Sharia mortgages” as several call them. The home would be purchased by the state. Then, the state would sell the home to the individuals at a higher rate than it was purchased. Payments are the exact same as a 30-year fixed mortgage would show. Still, there is no interest being paid to them. Another program that was meant to increase minority home ownership in Minnesota was the large program this came from.
Sharia loan program will not last long if Governor Pawlenty has anything to say over it
Upon finding out about the details of the Sharia loan program in his state, Gov. Pawlenty ordered it shut down. This decision had several asking questions. Pawlenty’s spokesperson said:
“This program was independently set up by the Minnesota state housing agency and did not make any mention of Sharia Law on its face, but was later described as accommodating it,” he wrote in an email. “As soon as Gov. Pawlenty became aware of the issue, he personally ordered it shut it down. The United States should be governed by the U.S. Constitution, not religious laws.”
The way a government utilizes tax dollars is one the government gets to choose. These Sharia compliant financial goods are not outlawed. That is not what the government was trying to do. State supported programs that support it aren’t allowed though.
Sharia law
Disputes can legally be settled with Sharia law for Muslims. This was what a Florida judge ruled in the courtroom. Lawmakers are very concerned about this. Several states are considering legislation that would ban the use of Sharia law; some commentators are calling the recognition of this religious law tantamount to “silent jihad” against the United States. The reality is, however, the U.S. recognizes Christian, Jewish, Sharia and other religious laws as long as the laws don’t violate standing state and federal law. Observing religious law, such as Sharia law, is not contrary to Constitutional protections, as long as the religious law is not imposed on those who choose to not participate. Even Pawlenty admit this. He said, “The Constitution was intended to protect people of faith from government, not to protect government from individuals of faith.” Pawlenty is worried that state taxpayer dollars are being used to get Islamic residents who have a religion home ownership which is the issue with the Sharia mortgages.
Articles cited
Swamp Land
swampland.blogs.time.com/2011/03/25/is-there-a-double-standard-in-tim-pawlentys-disavowal-of-sharia-compliant-mortgages/
Minnesota Public Radio
minnesota.publicradio.org/display/web/2009/02/28/islamicfinancing/?refid=0
US Constitution & Income Tax – Tom Cryer – 2009
Income Tax Us Constitution
