Androscoggin Bank, a prominent financial institution in Maine, has taken a dangerous step by becoming the first bank in the state to offer Islamic interest-free mortgage plans, aligning its services with the principles of Sharia banking.
RAIR Foundation (h/t Marvin W) While the bank asserts that this move aims to accommodate the growing Islamic immigrant community in the region, it has ignited a fiery debate surrounding the potential dangers and controversies associated with adopting such an Islamic financial system in the Western world.
While some may perceive Sharia law primarily in the context of personal religious practices, there are broader implications regarding the intersection of Sharia principles with government and finance. According to Islamic teachings, any government that limits the application of God’s Law is seen as an enemy of Allah and must be opposed. Islamic extremist groups share this perspective, and the establishment of Sharia as the governing system is considered a fundamental objective of such groups.
Islamic banking operates on a fundamentally different premise than conventional Western banking. The core principle of Sharia banking is the prohibition of usury, or interest (riba), which is regarded as haram or forbidden. Instead of charging interest on loans, Sharia-compliant financial institutions rely on profit-sharing arrangements, equity-based financing, and asset-backed transactions.
Critics of Sharia banking raise concerns about its implications in Western societies:
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Conflict with Western Values: Sharia banking challenges the fundamental separation of religion and state in Western societies. It introduces a financial system based on religious principles that could compromise the secular nature of Western financial institutions.
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Discrimination and Exclusivity: Sharia banking inadvertently fosters discrimination and exclusivity. While it pretends its intent is to cater to the Muslim community, non-Muslim customers face limited options or higher costs for their financial needs.
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Regulatory Complexity: The complexity of balancing compliance with Sharia banking principles and existing financial regulations has raised opposition. This complexity exposes banks to regulatory challenges or violations.
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Potential Influence of Extremist Ideology: Islamic banking has been associated with Islamic terrorists. Individuals with extremist views influence and operate within the Islamic banking sector.
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Opposition to Religious Freedom: Sharia banking explicitly opposes religious freedom, freedom of conscience, and the free exchange of ideas.
Sharia banking adheres to specific dangerous and discriminatory Islamic ethical guidelines that impact various aspects of business operations:
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Alcohol and Gambling: Sharia-compliant banks avoid investing in or providing financing to businesses involved in the production, distribution, or promotion of alcohol and gambling, considering these industries as haram (forbidden) due to their perceived negative social and moral impact.
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Pork Products: Businesses dealing with the production or sale of pork products are also deemed incompatible with Sharia banking due to the impurity of pork in Islam.
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Weapons and Defense: Sharia-compliant financial institutions refrain from financing companies involved in the production of weapons, especially if those weapons are intended for purposes they deem unethical or harmful,
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Conventional Finance Institutions: Sharia banks avoid investing in or having financial ties with traditional financial institutions that charge interest (riba), as interest-based transactions are strictly prohibited in Islamic finance.
Androscoggin Bank’s move to introduce Islamic interest-free mortgages in Maine raises important questions about the intersection of Islamic finance with Western values and regulations. It is just the latest example of Westerners helping Muslims to conquer the West. This embracement of Sharia is another example of a cultural and civilizational jihad and the submission of a Western company, like Androscoggin Bank, to that jihad.
Every concession non-Muslims make to Islamic norms, and law is death by a thousand cuts to Western civilization, the rule of law, and the equality of all people.
2023 USA LIST OF AMERICAN ISLAMIC LENDERS FOR PERSONAL LOAN AND MORTGAGE FINANCING
- 1 Ijara Community
- 2 LARIBA
- 3 UIF
- 4 Ameen Housing
- 5 Guidance Residential
- 6 Jafari No-Interest Credit Union
- 7 Devon Bank
- 8 Barker Hedges Group
- 9 Halal Inc
- 10 Ansar Finance
I heard years ago that Muslums had their own banking systems here in the US. With interest free loans which were probably difficult to qualify for. Don’t know much about it.
Moslems pay the interest up front, supposedly, which, all or in part, will, inflate the prices of the houses beyond all reason. This will cause enormous pressure from the lenders onto appraisers to inflate appraisal value opinions, even though such pressure is illegal. Or maybe the lenders will try to capture the interest at the end of the loan, which will essentially have the same effect of inflated prices and valuations. Or, they will just call the interest something else. You already know the fourth option. Yep, the American taxpayer will pay the interest which is the most likely scenario and or they’ll add fees to loans nationally to help the poor little moslems. If someone knows more about this, please comment. I’m sure the bankers already have their bullshit stories memorized.
Emails to Androscoggin Bank’s president, Neil Kiely, explaining Sharia law went unanswered when this story first broke. A link to this article was sent and also ignored. It just so happens his wife, Elise, is a real estate broker. Hmmm?!
Interesting
Is there any better way to divert money to terrorism, other than the Halal food licensing fees scam?
So the muzzies get a free ride as the bank is paid for by those kaffirs who pay an interest for the loan of money while no interest paid by the muzzy. How stupid.
As if our banking system isn’t run by criminals and f*cked up enough already.
Any American who banks with this bank is a traitor, a moron, and a fool.
The bank is free to invest IT’S money; just not MINE!
Your money IS their money according to them.
Their policy against investing in weapons and defense whilst funding terror operations across the globe is the most hypocritical shit I’ve ever read (but then again, the religion of piss was founded by a low IQ savage that attracts equally retarded followers today.) 🤦🏻♂️
Since we live in an age where anyone can identify as anything, who will stop me if I choose to “identify” as a Muslim and take advantage of these one-sided financial incentives?
Ball is in your court, Muzzies (and dhimmi leftists) if you really want to play this game. ⛹🏽♂️
Total BS. They call it interest-free, stating there are no finance or interest charges, when in fact… they FRONT LOAD the loans. The dummies are indeed paying interest , but it is called something else, so I guess they don’t figure this out. I remember we talked about this years ago, Bonni.
Shame on Androscoggin Bank. Shooting themselves in their own feet. Money is more important than the preservation of your home.
Yes, that’s right. They add a big service fee to the front of the mortgage, then pay off the whole thing in equal installments.
The ‘no usury charges’ loans are a scam and a scheme that they run, even on their own. The practice is simply a way to steal money and power, a way to lord over the non-moslem cultural norms, and another back-alley inroad to societal acceptance. Thanks, Androscoggin Bank! Thanks for helping them to further insinuate themselves and their ways, into the (now fading) Apple Pie and Red, White and Blue Americana that has ALWAYS been the fresh, clean face of Maine! Lies and deceit. As an afterthought, I’d wager that non-moslem mortgage brokers will not be permitted to touch these loans. Thus, the commissions will be directed to moslem-only brokers, and the options available to the non-moslems will include, undoubtedly, speaking a few lines that will ‘revert’ them to islam, and subsequently, funnel the loan business back to their desks ( from where it was originally diverted). A double win-win- for the interlopers!
One of these days I’ll be looking down from my fluffy cloud, eating lobster or crab roll, sippin’ a Moxie, and I’ll see how it turns out. I don’t think it’s going to be a happy ending.
As the World Turns.
I recall Linda Sarsour trying to pitch sharia law to Americans by telling them they could get interest free mortgages.
As the saying goes,
If their lips are moving…
So, where does the big, upfront fee come from? Out of the moslems’ pockets? Doubtful. Probably ours. Funny thing, I see so many poor little moslems dressed to the nines and driving very expensive cars. So, a big, upfront fee and a down payment and losing costs. By the time they do that, they could almost just pay cash. I can already see that $300,000 house with a asking price of $500,000 so all of that sharia shit can be rolled into the loan. This is nothing but a recipe for massive fraud and thousands of foreclosures. I can see it now … You must make house loans to moslems or you’re a racist. However it works, you can bet that the American taxpayer will be funding it. And, to our detriment.
They are sickening. They just want to discriminate against everyone. These black people in the pictures, that’s just a ruse because they don’t like and discriminate against Africans! They are liars. Pathological liars and must be thrown out of western nations!
They aren’t “black people,” they are AFRICAN MUSLIMS!
I’m thinking “Muslim for a day” loan applicants.
By saying the Shahada, you’ll be in the “Club” and bingo there’s your loan. Not worth it though because once you renounce your new religion and become an apostate, bigger troubles will begin. 🤮