Sharia-compliant mortgage program in Minnesota ends

In Minnesota, mortgages targeted to increase home ownership have been ended. Pawlenty ended the program upon learning the program was compliant with Sharia law. The loan program only provided three mortgages between being set up by the Minnesota state housing agency and getting shut down by the governor. Pawlenty cited religious freedom as the reason for shutting down this Sharia-compliant mortgage program. Article resource – Sharia-compliant mortgage program in Minnesota ends by MoneyBlogNewz.

Minnesota avoiding paying interest

The African Development Center and Minnesota's state housing agency got together last year 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 borrower would pay the state for the home at a higher rate than the state would purchase the home. There are no bank interest payments even though it’s the exact same as a 30-year fixed rate mortgage for payments. Another program that was meant to increase minority home ownership in Minnesota was the large program this came from.

Sharia loans are ridiculous according to governor Pawlenty

Governor Pawlenty ordered the program to be stopped after finding out about the Sharia loan program. This decision had many 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 uses tax dollars is one the government gets to decide. The Sharia-compliant financial goods aren't outlawed by the governor in this. State supported programs that support it are not allowed though.

The question of 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. Many people are saying that be recognizing the religious law, the "silent jihad" is being brought to the United States while other states are considering banning the Sharia law. Christian, Sharia and Jewish laws are all observed in the U.S.. As long as the state and federal law are not being violated, it is recognized. As long as religion isn't being imposed on someone, observing it is not against the Constitution. Pawlenty himself said, "The Constitution was intended to protect individuals of faith from government, not to protect government from people of faith." Pawlenty is worried that state taxpayer dollars are getting used to get Islamic residents who have a religion home ownership which is the issue with the Sharia mortgages.

Information from

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