Quote:
Originally Posted by virgind
This statement is all well and good the thing that scares me the most is the fact of Sharia law. I have said it before that you dont want it and that is what islam is all about.
|
"Sharia-compliant financial instruments can't pay or collect interest, due to Islam's proscription of usury; Islamic investments also can't be associated with alcohol, pork, gambling, pornography, or other Muslim prohibitions. Islamic finance surged in recent decades by introducing products that mimic credit cards, savings accounts, and mortgages while avoiding interest."
How can Sharia-compliant businesses flourish much less survive if you can't charge interest and can't borrow money? I suppose you can borrow money but the lender can't charge interest.