The Rejection of Interest-Based Loans among Muslim Entrepreneurs and Professionals in Finland

Abstract This article discusses religiously motivated financial behaviour among young Muslims in Finland. The aim of the is to provide empirical knowledge Islam-based views on rejecting interest-based loans and implications this Finnish Muslims. research questions are: What are reasons motivations for bank loans? Are there alternative modes financing? impacts rejection personal investments, including business housing? Data were obtained from 18 Muslim entrepreneurs professionals who reject loans. data show that their led scope arrangements being more limited, may also have significant children, next generation. To circumvent these consequences, those interviewed used some or all four models funding: savings; interest-free family friends; credit circles; time-bound, repayment period cards.