Business Daily | by Edwin Mutai
MPs’ mortgage and car loans have been made Sharia-compliant to allow over 55 lawmakers to tap into the subsidised credit.
The Parliamentary Service Commission (PSC) has amended rules governing mortgage and car loans to allow 42 MPs and 13 Senators who are Muslims to secure the cheap loans in line with Islamic banking requirements.
The MPs employer gazetted new regulations substituting the words “Interest rate” with “Administrative Costs” to conform to Sharia law…
