Excerpt:

The developer of the failed Ground Zero Mosque has nailed down "Sharia-compliant financing" for a new, luxury condominium tower and Islamic cultural museum on the same site, he and his banking partners said Wednesday.

The $174 million dollar project features a three-story Islamic cultural museum at 51 Park Place and 48 high-end residential condos in a 43-story tower at 45 Park Place in the Financial District.

The "Sharia-compliant" financing means the deal complies with complex Islamic laws that govern lending and borrowing, including a prohibition against accepting interest or fees for loans.


Read the complete original version of this item...