Muslim alternative to capitalistic interest payments: insolvency

Okay, here's my belly laugh of the day:"Sharia-compliant mortgage lender in receivership":

UM Financial was one of the first companies in Canada to offer so-called Islamic financing to Muslims who believe that sharia, or Islamic law, prohibitions against usury include interest on things such as mortgages.

UM would buy a property then lease it to a client so they were paying rent instead of interest. Some homeowners complained that the firm would also charge extra fees.

The company had $50 million in financial backing from Central 1 Credit Union of which almost $29 million is outstanding.

Qayum Mian knew he was paying a premium on his Markham house for the seven years he used UM Financial — he estimated up to 2 percentage points more than if he’d gone through a bank — but was happy to pay the price “because my conscience was satisfied.”

A 9/11 commentary: "Unilateral Moral Disarmament"

Not long after the attacks of September 11, 2001, I wrote a commentary on the meaning and source of the attack for a magazine called Navigator.

Nothing in the intervening ten years has caused me to alter my fundamental analysis of the ideas at the root of the assault on America. As we contemplate the tragic losses of human life from that infamous day, and the philosophy at the heart of the attack, I thought I'd share with you that commentary:

"Unilateral Moral Disarmament."