Wednesday, January 16, 2013

Egyptian Bank Lends Farmers Money For Second Wife

Want an extra wife? In Egypt all you have to do is go to your local bank for a loan. That is, if you're a farmer. The Egyptian Bank for Development and Agricultural Credit is actually encouraging polygamy by offering to loan farmers money if they want a second wife. A third wife, however, will more than double their interest payments.

I suppose having two wives  might come in handy: an extra pack horse to work the fields, though the banks say they're doing it to combat "spinsterhood".

Bank chairman Mohsen Batran along with the Agriculture Minister held a joint press conference to share the good news.

.. the bank will be granting loans to young farmers, to help them with the cost of marriage, according to “al-Ahram” newspaper.

His initiative includes encouraging polygamy, provided that they will just wed two wives. The bank’s chairman said that the loan’s interest on the first marriage is three percent while for the second marriage is six percent.

Men seeking a third wife will have to pay a loan’s interest of more than 15 percent.

According to Al-Ahram newspaper, there are nine million unmarried women in Egypt.

Batran, meanwhile, criticized those who are skeptical about the bank’s support to the farmers, adding that the bank had helped 37 thousand farmers with their debts.

Old Mohammed had a farm, ee-I, ee-I, O, and on that farm he had two wives...

But why are they charging interest, I thought that was haram.

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