Hague: Halal mortgages

Two parties on the city board of The Hague - VVD and Islam Democrats - are pushing for a change in the current mortgage laws.

Bilaa-Riba (no interest) from Leiden is setting up a mortgage scheme where no interest has to be paid. However, in such a case you don't get the benefits of deducting the interest you earn from your taxes.

The two parties which are pushing for this new halal-mortgage are hoping it will encourage Muslims to buy houses, which would cause them also to be more concerned about their house and neighborhood. They say that the deduction law is intended to stimulate house ownership and that it doesn't fulfill its goal by one million Muslims and therefore should be changed.

Source: AD.nl (Dutch)

1 comment:

TimToTango said...


I just wrote a stroy about new developments in Halal-Mortgages in Holland, involving the bank you wrote about. The Dutch tax agency decided that the way this bank wanted to do is not okay. Read the story (in English) here: Dutch Halal Mortgage.