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"The question for them arose whether they could actually undertake the Islamic banking activities within the Australian framework. And the decision was made that that was quite a difficult prospect."
As the bank's agent, the home is purchased in your name only on the title with the
Charging or paying market interest rates (riba) in any financial transaction is banned under the rules of the Islamic faith.
But in the past decade, he has been taking out more Islamic loans, including one just a few months ago to expand his company's meat-processing ability.
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