(WASHINGTON, D.C., 6/29/2023) – The Council on American-Islamic Relations (CAIR), the nation’s largest Muslim civil rights and advocacy organization, today welcomed a new program instituted by the Louisville, Ky., government offering interest-free small business loans to Muslim business owners, whose religious beliefs forbid the taking or giving of interest.
Recently, the Louisville Metro Government announced an optional modification to its small business loan program, in which recipients can pay a service fee over the life of their loan that equals what the interest would have been. Paying or taking interest is impermissible according to Islamic law. The modification comes after many Muslim-owned businesses shuttered their doors due to a lack of access to capital and the impact of the COVID-19 pandemic.
SEE: Louisville Metro Government offers Sharia-compliant small business loans for Muslim residents
“We thank the Louisville Metro Government for taking action to help Muslim business owners and to strengthen the local economy,” said CAIR National Communications Manager Ismail Allison. “This should be a model for other cities on how to support Muslim communities and foster an environment of religious and economic freedom.”
CAIR’s mission is to protect civil rights, enhance understanding of Islam, promote justice, and empower American Muslims.
La misión de CAIR es proteger las libertades civiles, mejorar la comprensión del Islam, promover la justicia, y empoderar a los musulmanes en los Estados Unidos.
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CONTACT: CAIR-Kentucky Board Chair Salah Shakir, (859) 545-0651, [email protected]; CAIR-Kentucky Board Member Waheedah Muhammad, 859-296-0206, [email protected]; CAIR National Communications Director Ibrahim Hooper, 202-744-7726, [email protected]; CAIR National Communications Manager Ismail Allison, 202-770-6280, [email protected]