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Government Documents

Two interpretive letters from the Office of the Comptroller of the Currency (OCC):

OCC, "Letter states that United Bank of Kuwait's Federal Branch may enter into leases of real estate to serve the home finance needs of its Muslim customers, who are prohibited by religious principles from obtaining traditional mortgages" (pdf), Interpretive Letter 806, December 1997.

Download this file as .pdf (OCC), 64Kb

OCC, "Islamic Murabaha financing transactions, whereby a national bank acquires the property on behalf of the customer and then resells the property to the customer at a mark up on an installment basis, are permissible for national banks as part of the business of banking", Interpretive Letter 867, November 1999

Download this file as .pdf (OCC), 48Kb

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