In the run-up to the Dutch general elections on October 29, left-wing DENK party has sparked debate with a proposal to introduce the so–called “halal mortgage”–—an interest-free home loan designed for Muslims who, under Islamic law, are prohibited from paying or receiving interest.
In a campaign video, party leader Stephan van Baarle argued that such a measure is essential, noting that many Muslims are currently unable to purchase a home due to existing mortgage rules.
Too many Dutch Muslims and many others who don’t want to participate in the interest-based system can’t buy a home because of the interest on a mortgage.
Islam prohibits the charging or payment of interest because it is considered an unjustified profit, which Van Baarle says prevents many believers from using traditional banks and mortgages.
He also emphasized that his leftist party is strongly committed to making this measure legally permitted as soon as possible.
And as far as we’re concerned, the halal mortgage, the interest-free mortgage, should become part of government policy without delay.
While such financing has been available within Muslim-ruled countries for years, its introduction into a European Union member state as a matter of policy would mark a significant concession to Islamic influence.
