(WASHINGTON, D.C., 8/8/2023) – The Council on American-Islamic Relations (CAIR), the nation’s largest Muslim civil rights and advocacy organization, today welcomed the introduction by Maine’s Androscoggin Bank of interest-free mortgage plans that comply with Islamic and other religious injunctions prohibiting usury.
Androscoggin Bank is now offering interest-free mortgage plans in order to accommodate Muslim customers, who may not want to take out interest-based loans due to Islam’s prohibition of usury. Androscoggin Bank is the first bank in Maine to offer such plans. The plans were introduced with the help of ProsperityME and the Greater Portland Immigrant Welcome Center.
SEE: Androscoggin Bank now offering mortgage plans compliant with Muslim law (wmtw.com)
https://www.wmtw.com/article/androscoggin-bank-now-offering-mortgage-plans-compliant-with-muslim-law/44754923
“We applaud Androscoggin Bank for taking steps to ensure Muslims and people of other faiths can buy a home without violating their sincerely-held religious beliefs,” CAIR National Communications Manager Ismail Allison. “We encourage banks nationwide to follow Androscoggin’s example and offer interest-free loans and mortgage plans. Doing so will not only benefit Muslims and other people of faith, but society as a whole.”
Allison noted that in June, CAIR welcomed a newly instituted by the Louisville, Ky., government offering interest-free small business loans to Muslim business owners.
SEE: CAIR Welcomes Louisville, Ky., Government’s Offer of Interest-Free Small Business Loans to Muslims
CAIR has also called on the Biden administration to establish interest-free student loans.
SEE: CAIR Opposes SCOTUS Student Loan Ruling, Renews Call for Establishment of Interest-Free Student Loans
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 National Deputy Director Edward Ahmed Mitchell, 404-285-9530, e-Mitchell@cair.com; CAIR Government Affairs Director Robert McCaw, 202-742-6448, rmccaw@cair.com; CAIR National Communications Director Ibrahim Hooper, 202-744-7726, ihooper@cair.com; CAIR National Communications Manager Ismail Allison, 202-770-6280, iallison@cair.com