Dutch Finance Minister, Gerrit Zalm, is looking into the possibility of "halal mortgages". Today home owners can deduct the interest they pay from their taxes. According to Muslim law, Muslims are not allowed to pay interest, and therefore cannot take loans. Loans based on "no interest" methods do not enable them to enjoy the Dutch gov't tax breaks.
Hague council members have called to change the laws in order to encourage immigrants to buy their own houses.
According to a minstry spokesperson, Zalm is not planning to change the law, but is investigating the possibilities of taking steps towards the Muslims. One possibility is for the bank to buy the house and to have the resident buy it from the bank in installments. The installment payments will then be allowed to be deducted for tax purposes.
Source: Telegraaf (Dutch)
See also: Hague: Halal mortgages
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