Why America Rules
I learned about this by way of the subscription only Business Week (for my money the best magazine published in America today, and no, I am not kidding).

American banks, led by the Jewish-owned Chicago bank, DEVON BANK, have begun offering financial instruments that meet the needs of American Muslim’s who are bound by injunctions in the Koran against engaging in activities involving interest. Among the products currently being offered by DEVON and others, including, on a limited basis, FANNIE MAE and HSBC, is a mortgage that works like this: the client identifies a property they want to own, the bank then buys it and sells it to them at an asking price that has the projected interest payments built into it. DEVON and others are offering these loans for home-owners, but perhaps more importantly, for commercial loans as well.

Land of Opportunity? Damn straight.
- posted by Simon Marcus @ Thursday, February 17, 2005