IslamicFinance.de mission is to support the Islamic finance, banking and takaful industry with news abstracts, opinions, a free encyclopedia, a Twitter page and networking.

Denmark: Islamic Mortgages

Three local banks in the Jutland region of Denmark have agreed to offer mortgage loans that comply with Islamic laws.
The bank owns the property until the terms of the lease, typically a 30-year agreement, are completed. The three banks -- Sparekassen Farsø, Sparekassen Vendsyssel and Sparekassen Hobro -- with cooperation of a fourth -- Den Jyske Sparekasse -- created a company to handle the new Amanah Kredit mortgages. Niels Mogaard, director of Amanah, said the arrangements were already in use, especially in the city of Aalborg, the Copenhagen Post reported.

source: http://www.upi.com/NewsTrack/Business/2008/03/12/danish_banks_to_comply_...

Syndicate content