Denmark: Danish banks offer Sharia loans

Three local banks in the Jutland region of Denmark are agreeing to offer mortgage loans which comply with Islamic, or Sharia law. Sharia laws forbid accepting or paying interest, to which Danish banks have created a leasing agreement of sorts for Muslims in the area; the bank will own property until the terms of the lease, usually a 30-year agreement, is completed. Several hundred Muslim customers have reportedly expressed interest in the prospective plan, called the new _Amanah Kredit’ mortgage. The plan will be offered by Sparekassen Fars_, Sparekassen Vendsyssel and Sparekassen Hobro in conjunction with Den Jyske Sparekasse.