In Minnesota, mortgages targeted to increase home ownership have been ended. Pawlenty ended the program upon learning that 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. The mortgage program offered Shairia compliant loans that did not charge interest. Pawlenty cited constitutional religious protections when shutting down this program. Resource for this article – Sharia-compliant mortgage program in Minnesota ends by MoneyBlogNewz.
Minnesota avoiding paying interest
In early 2010, Minnesota’s state housing agency partnered with the African Development Center to create a loan program targeted toward low- to moderate-income individuals who follow Sharia law. Called “Islamic mortgages” or “Sharia mortgages,” these loans helped the borrower keep away from paying interest, which is against their religious law. The borrower would pay the state for the home at a higher rate than the state would buy the home. Payments are the exact same as a 30-year fixed mortgage would show. Still, there is no interest being paid on them. 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
The Sharia loan program was one Governor Pawlenty found out about. He ordered that it stop immediately. 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.”
A government decision on how tax dollars are spent comes only from the government. That is its right. The Sharia-compliant financial products aren't outlawed by the governor in this. There can't be state programs that support this. He doesn't think it is right.
Sharia law in accordance with a judge
Disputes can legally be settled with Sharia law for Muslims. This was what a Florida judge ruled in the courtroom. This decision has raised concern for several lawmakers. 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 U.S.. The reality is, however, that the U.S. recognizes Christian, Jewish, Sharia and other religious laws as long as the laws don’t violate standing state and federal law. Sharia, along with other religious law, is not against the Constitution when it comes to obeying it. As long as the religion isn't being imposed on someone, it is fine. Pawlenty himself said, "The Constitution was designed to protect individuals of faith from government, not to protect government from individuals of faith." In the case of the Sharia-compliant mortgages, seems like that Pawlenty does not want his state taxp! ayer dollars used to offer home ownership to religiously compliant Islamic residents.
Citations
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
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