The Dutch multicultural left wants to legalise Islamic mortgages.
The left-wing party DENK has put forward the creation of »interest-free» halal mortgages. The proposal comes amid the campaign for the general election on 29 October in the Netherlands.
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The left-wing party DENK, which is oriented towards defending diversity and the representation of minorities, He announced this week that he wants to establish a legal framework that would allow the offering of interest-free Islamic mortgages.«According to its leaders, the current banking system excludes thousands of citizens who, for religious reasons, refuse to pay bank interest.
In a campaign video, the leader of the party, Stephan van Baarle, called for that Muslims in the Netherlands can also access housing without having to renounce their convictions. «Too many people cannot buy a house because interest-bearing mortgages are contrary to their faith,» he said. Several Dutch media outlets have reported on it, such as New Right.
The Muslim Party's flagship election proposal
DENK's initiative has emerged as its most prominent electoral bet in this campaign. The party was founded in 2015 by two Muslim MPs from the Labour Party to defend the interests of immigrants, especially Muslims. They won three seats in 2017 and 2021, and ahead of the elections on 29 October 2025 the polls place them at risk of losing ground, but they aim to retain representation.
In this context, the proposal to introduce halal mortgages has become its main electoral draw. The aim is to respond to a demand by a section of the Dutch Muslim community that refuses to pay interest on bank loans. According to DENK, the current system excludes thousands of families who cannot access a conventional mortgage without compromising their convictions. DENK leaders have insisted that This situation creates an inequality of opportunity and they are calling for regulatory change to allow financial alternatives..
Islamic finance is not legal in Europe.
Despite DENK's proposal, Islamic mortgages and loans are not legal in the Netherlands or the rest of Europe. The only partial exception is the United Kingdom, where there is a recognised and regulated halal banking system that allows the offering of Sharia-compliant financial products.
In Catalonia, an Islamic banking model has also been developed through a finance cooperative that s’It defines itself as «ethical banking».». This Islamic credit cooperative (CoopHalal) received €50,000 in grants during Ada Colau's term in office. From 2025 It is part of the Barcelona City Council's solidarity economy strategy. which gives it access to promotion, public contracts and contacts in the co-operative world. This entity The housing cooperative Som Tribu has granted credit. and some businesses, such as taxi drivers, go through a Sharia committee that validates the transaction.
Although presented as «interest-free» financing, this approach is misleading: even though interest is not formally mentioned, the transaction incorporates an economic profit margin that, de facto, It serves the same function as the interest on a conventional mortgage..
Meanwhile, in the Netherlands, polls place Geert Wilders, leader of the Party for Freedom (PVV), as the favourite., known for his outright opposition to Islam and immigration. The contrast between DENK's proposal and Wilders's programme reflects the polarisation of Dutch politics: on the one hand, the inclusion of Muslim religious institutions in the financial system; on the other, a discourse seeking to restrict Muslim entry into the country.
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