2013 Audi A3

Mercedes-Benz Offers Sharia-Friendly Financing In Middle East

 
26 3,796 views Oct 15, 2009
Follow Viknesh

 

Mercedes-McLaren SLR 722 Edition

Mercedes-McLaren SLR 722 Edition

Enlarge Photo

Mercedes-Benz is hoping to increase its presence in the lucrative Middle-Eastern market by establishing a pair of financial firms that are fully compliant with the specific regulations of Islamic law, or Sharia.

Islamic law prohibits its followers from charging or collecting interest fees when money is lent or accepted, or investing in businesses, goods or services that are contrary to its religious principles.

To get around this, Mercedes-Benz has launched Mercedes-Benz Finance Middle East and Mercedes-Benz Leasing Middle East. The new companies are headquartered in Dubai and offer loans and leasing to private and business customers for new and pre-owned passenger cars and commercial vehicles, including the all-important Sharia-compliant Islamic finance product.

There are several methods of investing that comply with Islamic law. For example, instead of offering a loan with interest to buy a car, the financial firm could purchase the car outright at an inflated price that includes the interest portion and then sell it to a customer who can then make fixed payments on a regular basis.

Mercedes-Benz picked Dubai for its new offices as the United Arab Emirates, which Dubai is the most popular state in, represents the most important passenger car market in the Middle East for Mercedes-Benz. In 2008, Mercedes-Benz sold 7,800 passenger cars and 3,100 commercial vehicles in Abu Dhabi, Dubai, Sharjah and the Northern Emirates.

[Mercedes-Benz]





Tags:
Posted in:
 
Contribute
Send us a tip Comment Contact the editor
Follow Us

 

Have an opinion?Join the conversation!

  • Posting indicates you have read this site's Privacy Policy and Terms of Use
  • Notify me when there are more comments
Comments (26)

  1. By Database Error; Posted: 10/15/2009 8:18pm PDT

    Fuck the Arabs.
    One ran into my car and tried to collect insurance money from me. Go back where you came from. If not, you will regret it. SoCo Saints!
    Your Friend,
    Guy
     
    Post Reply
    Vote
    Bad stuff?

  2. fb_71106416 avatar Chadwick Dawkins Posted: 10/15/2009 10:47pm PDT

    I hate when people say "go back where you came from" like their family didn't immigrate here are some point.
     
    Post Reply
    Vote
    Bad stuff?

  3. By yarub Posted: 10/16/2009 12:11am PDT

    Racism is the cancer of the human race!
     
    Post Reply
    Vote
    Bad stuff?

  4. By MrRoadrage Posted: 10/16/2009 12:14am PDT

    Database Error, why don't you go back where you came from, or did they move the rock you were born under? Racist scum.
     
    Post Reply
    Vote
    Bad stuff?

  5. By Kimi Raikkonen Posted: 10/16/2009 3:32am PDT

    "the financial firm could purchase the car outright at an inflated price THAT INCLUDES THE INTEREST PORTION and then sell it to a customer who can then make FIXED PAYMENTS on a regular basis."
    Anybody see the stupidity of this?
    The person paying for the car at an elevated price due to having the interest included IS STILL PAYING INTEREST.
    You can do it however you like but at the end of the day you are still paying interests...
     
    Post Reply
    Vote
    Bad stuff?

  6. fb_1508843818 avatar John Fox Posted: 10/16/2009 8:35am PDT

    Kimi anyone who lives in a society where religious law is the norm will try and find a loophole around it. All religions are bad, nobody should live their lives according to a fairy tale.
     
    Post Reply
    Vote
    Bad stuff?

  7. By Raptor Posted: 10/16/2009 9:54am PDT

    Nope, Islam is a the cancer for human race. Check out the latest reports on radical islam. Oh and the muslims are so hypocrite and lame with thir hating stupid laws. By the way, hating muslims dosen't make you racist, because islam is not a race, it's cursed evil ideology.
     
    Post Reply
    Vote
    Bad stuff?

  8. By Database Error; Posted: 10/16/2009 10:52am PDT

    I'm Native American so all except the Europeans and Mexicans can get off my land, I like them, they have done me no wrong. I wouldn't be so racist if stereotypes weren't actually true. I live above some fucking arabs and they are the rudest mother fuckers. They refuse to come out during fire drills, how unAmerican is that? and they will not move if they are blocking part of the parking lot. They walk around with their collars popped like a bunch of faggots and drench themselves in cologne. This is God's land, not Allah's mother fucker. SoCo Saints till i die!
     
    Post Reply
    Vote
    Bad stuff?

  9. By Debug this **** Posted: 10/16/2009 11:01am PDT

    I have had a similar experience with arabs. One of them ran into my car with their bike at my apartment complex. I saw the little douche do it too. He just rode off without saying anything. But don't worry, I got my revenge :)
    Any who, those arabs need to quit being so radical and start slappin a peach tree or something. God know if they don't the hippos will!
     
    Post Reply
    Vote
    Bad stuff?

  10. fb_1508843818 avatar John Fox Posted: 10/16/2009 11:08am PDT

    I had no Idea this site was so full of retards.
     
    Post Reply
    Vote
    Bad stuff?

  11. By Yarub Posted: 10/16/2009 11:45am PDT

    @John Fox: I agree with your point of view.
    @Raptor: Thanks for using the word "RADICAL". Lets not forget that all radicalised religions are bad, hypocrite and lame. Many crimes have been committed in the name of radical religion, be it for Islam, Christianity or any other religion you might think of.
    @Database error & Debug this: So you had some bad experience with FEW arabs, does this give you the right to think that all +300million of them are bad? We need to kill racism NOW because if we don't, who knows who will be the next victim? Black, Asian, Jews or maybe YOU! So now you know why racism IS the Cancer of Humanity.
     
    Post Reply
    Vote
    Bad stuff?

  12. By  My Wheels On Walls Posted: 10/16/2009 1:07pm PDT

    Although at the end of the day they have still paid the interest just not directly!!!
    Does that mean if I ate pork and then went to rest room a few hours later I could then package it up and sell it as food in the Arab world?
    Could someone explain to me how this is OK with Allah?
     
    Post Reply
    Vote
    Bad stuff?

  13. By Ryan Posted: 10/16/2009 1:25pm PDT

    I caught an Arab trying to pick the lock of my car in a Walmart parking lot in the middle of broad daylight. He punched out the keyhole so I reported it to insurance and MY insurance went up. They think they run the place. I agree with saying go back where you came from. You're not welcome here. Oh yeah, the stereotypes are so true.
     
    Post Reply
    Vote
    Bad stuff?

  14. By viggense Posted: 10/16/2009 2:53pm PDT

    Focus....this article is not about spreading ignorance and hate. It is about a car company finding a financial loop whole to make money. Can we comment on that and leave the racial and ethnic rants to more 'radical' sites?
     
    Post Reply
    Vote
    Bad stuff?

  15. By Alex Posted: 10/16/2009 3:03pm PDT

    What you should understand is that some Muslim Scholars came up with these rules as an interpretation and application of the principles of the Islamic law that prohibits the use of interest in commercial transactions. I completely agree that charging more an item and paying fixed payment at the end of the month is exactly the same thing as having to pay a loan with interest. However, this is only one of the application of Islamic Finance. There are many interesting applications of its principles especially when it comes to investment.
    And by the way, there is a BIG difference between Arabs and Muslims, which people tend to forget :) And as I can see people tend to have more problems with Arabs than Muslim and start mixing up both :) which make them racist. If you can live with that, I personally do not care at all. Just imagine for one second that an American citizen is living abroad and s/he is rude or whatever with the people of the host country which make them believe that ALL Americans are rude and so on. Is it representative of the reality :) ? For sure not ! So, before judging the others just think for one second fellow car lovers and don't hate all the people that share your bad :) neighbor's race or religion.
     
    Post Reply
    Vote
    Bad stuff?

  16. By  My Wheels On Walls Posted: 10/16/2009 4:56pm PDT

    Thanks Alex that clears it up somewhat. Although what did Muslims do before this? Some twenty five percent of the globes population practices this faith and I see plenty of them in new cars right here in the U.S.
    If I were Ford Credit, GM Credit of any car company for that matter would'nt I want to offer this outside of the middle east too?
     
    Post Reply
    Vote
    Bad stuff?

  17. By Bash Riz Posted: 10/17/2009 7:39am PDT

    Isn't this supposed to be a CAR site?? Get your grudges against each other on other hate-fuelling websites! X-(
     
    Post Reply
    Vote
    Bad stuff?

  18. By mrroadrage Posted: 10/17/2009 9:41am PDT

    Suddenly I'm glad I don't live in America if this is the sort of ignorant, bigoted response elicited by an article about car financing.I thought Deliverance was fiction; apparently it isn't. Happy fucking Columbus Day, you morons.
     
    Post Reply
    Vote
    Bad stuff?

  19. fb_1508843818 avatar John Fox Posted: 10/17/2009 3:10pm PDT

    @mrroadrage, sometimes I wish that I didn't live in America either! The complete stupidity of many of my fellow Americans is astounding.
     
    Post Reply
    Vote
    Bad stuff?

  20. By HyundaiSmoke Posted: 10/17/2009 4:43pm PDT

    Interest is evil, A symptom is White Anglo Saxon Decadence.
    As Christians we arent supposed to charge interest either. I forgot a lot of us Americans have been brainwashed into Worshipping Freedom, Democracy, and Money more than God.
     
    Post Reply
    Vote
    Bad stuff?

  21. By Uncle Sam Posted: 10/17/2009 4:47pm PDT

    @John Fox, Using the @ sign is gay as mmmballs
    We need to exile your ass from the country. Sure there are some things to be not so proud of but NEVER say you wish you didn't live in America. May as well fly the flag upside down asshole.
     
    Post Reply
    Vote
    Bad stuff?

  22. By Alak Posted: 10/17/2009 6:42pm PDT

    i have been following this website for quite some time and this is the first time i have read so many comments on any article
    Does anyone know how sucessful is mercedes been with this islamic friendly financing sceme???? because for me this is really stupid for anyone to fall for such crap(i liked the way MY WHEELS ON WALL has put it in his comment) ........ well it might attract some jihadi taliban to purchase their car after being impressed by this scheme being Islam friendly and then fill it with explosive and blow it up.
     
    Post Reply
    Vote
    Bad stuff?

  23. By Anal Rage Posted: 10/17/2009 7:36pm PDT

    No Comment.
     
    Post Reply
    Vote
    Bad stuff?

  24. fb_1508843818 avatar John Fox Posted: 10/17/2009 9:57pm PDT

    @Uncle Sam, I flew the flag outside of my house upside down for 8 years while Bush was in office. The conservative right in this country make me sick and almost make me wish that I did not live here.
     
    Post Reply
    Vote
    Bad stuff?

  25. By Patrick Posted: 10/18/2009 2:11am PDT

    Hey John Fox,
    Why not just leave? We don't need you here. You aren't doing the country a lick of good. For our sake, just leave!
     
    Post Reply
    Vote
    Bad stuff?

  26. By Agent Posted: 10/18/2009 4:36pm PDT

    26 COMMENTS! (On something that, we Americans don't even need worry about)I am a Muslim, but I am Pakistani and I know that some Arabs are really ...yea, bad. Believe me. One hit my dads car at the supermaket and tried to get away.
     
    Post Reply
    Vote
    Bad stuff?

 

Have an opinion?Join the conversation!

Connect with Facebook

Motor Authority. Now with your friends.

Discover stories your friends read.
Share stories more easily.
You control what you share.
Learn more

Research New Cars

Go!


More from High Gear Media

 
 
MotorAuthority
  • Follow Us
  • Twiiter
  • Facebook
 
 
© 2011 MotorAuthority. All Rights Reserved. MotorAuthority is published by High Gear Media. Stock photography by Homestar, LLC. Send us feedback.