I’m just going to throw this out to you. I am not a business genius, but something doesn’t look right with this JumpStart Fund outfit in Seattle. Here is some of what they say they do:
JumpStart Fund provides micro-loans and business technical assistance to help refugees and other eligible newcomers start, strengthen or expand their micro-business.
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What services does JumpStart provide?
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Micro-loans
Riba Free Loans for Muslim Clients
We reported to you in an October post entitled “How do refugees get businesses” that the federal government has a special loan program to help refugees start businesses. I don’t know if this JumpStart, run by a volag, is getting federal loans, maybe it’s all private money.
If they are getting federal money, here is what I’m wondering: is the federal government condoning ‘riba free’ loans? Riba is the charging of interest and is a sin according to the Koran and Haddith. So, is it possible that federal microenterprise loans are being used by some refugee agencies in a way that discriminates between refugees on the basis of religion? Where is the ACLU when you need them?
There is an entire new area of study that readers should begin to pay attention to and it’s called Sharia Finance. Check out this blog called Sharia Finance Watch to learn more. BTW, this blog is what I’ve been talking about when I say we need more research blogs.
If anyone with a business mind could look into this JumpStart Fund’s apparent sweet deal for a certain group of refugees, it would be much appreciated.