Mercedes-Benz Offering Sharia Loans in Middle East


	Mercedes-Benz Offering Sharia Loans in Middle East

infidel70

10-19-2009 1:30 PM

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infidel70 says:

There are several methods of investing that comply with Islamic law. For example, instead of offering a loan with interest to buy a car, the financial firm could purchase the car outright at an inflated price that includes the interest portion and then sell it to a customer who can then make fixed payments on a regular basis.

Mercedes-Benz picked Dubai for its new offices as the United Arab Emirates, which Dubai is the most popular state in, represents the most important passenger car market in the Middle East for Mercedes-Benz. In 2008, Mercedes-Benz sold 7,800 passenger cars and 3,100 commercial vehicles in Abu Dhabi, Dubai, Sharjah and the Northern Emirates.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/0aac794e-f9b7-4fb6-b466-d0c7f8a93c15/A178B53A-C063-46E8-82D8-26E6F3569CCC/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.foxnews.com/story/0,2933,567921,00.html" href="http://www.foxnews.com/story/0,2933,567921,00.html" style="font-size: 11px;">www.foxnews.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.foxnews.com/story/0,2933,567921,00.html"><STRONG> <A name="keylnk_v" href="http://www.thecarconnection.com/make/mercedes-benz" id="keylnk_v"><U>Mercedes-Benz</U></A> is hoping to increase its presence in the lucrative Middle-Eastern market by establishing a pair of financial firms that are fully compliant with the specific regulations of Islamic law, or Sharia.</STRONG></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.foxnews.com/story/0,2933,567921,00.html"><P>Islamic law prohibits its followers from charging or collecting interest fees when money is lent or accepted, or investing in businesses, goods or services that are contrary to its religious principles.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.foxnews.com/story/0,2933,567921,00.html"><P>To get around this, <A name="keylnk_s" href="http://www.allcarselectric.com/make/mercedes-benz,new" id="keylnk_s"><U>Mercedes-Benz</U></A> has launched <A name="keylnk_s" href="http://www.luxurycarreport.com/make/mercedes-benz,new" id="keylnk_s"><U>Mercedes-Benz</U></A> Finance Middle East and <A name="keylnk_s" href="http://www.allsmallcars.com/make/mercedes-benz,new" id="keylnk_s"><U>Mercedes-Benz</U></A> Leasing Middle East. The new companies are headquartered in Dubai and offer <A itxtdid="12963065" target="_blank" href="#">loans</A> and leasing to private and business customers for new and pre-owned passenger cars and <A name="keylnk_v" href="http://www.gmcreports.com/category/commercial,new" id="keylnk_v"><U>commercial</U></A> vehicles, including the all-important Sharia-compliant Islamic finance product.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A178B53A-C063-46E8-82D8-26E6F3569CCC/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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