• January 29, 2008 9:03 AM
  • - General

Islamic banking in Canada: MCC asks CMHC to halt funding of study

    TORONTO, Jan. 29 /CNW/ - The Muslim Canadian Congress has asked the
Canadian Mortgage and Housing Corporation to abandon its $100,000 study to
introduce so-called Islamic Banking in Canada.
    In a letter to Karen Kinsley, Chief Executive Officer of CMHC, the
president of the MCC Farzana Hassan said, "Islamic Banking is nothing more
than an attempt by Islamists, with backing from Middle Eastern Financial
Institutions and their Western partners, to scare Muslim Canadians into
believing that they should pay more to the banks and demand less in return, as
an act of religiosity."
    "Sharia Banking is an obscene attempt to fleece an already marginalized
Muslim community while promising them the exact opposite. On the one hand
Imams are warning Muslims of hellfire if they deal with the existing banking
systems, and on the other the same clerics are being paid by banks to herd
Muslims towards a system that is based on lies and deception," the MCC
president added.
    To read the full text of the statement, please visit the MCC website at:

For further information: Tarek Fatah at (416) 473-2552