3 ms·
Makes perfect sense to me too. Islam forbids them from charging compound interest, but allows them to seek riches in the shared profits of successful ventures.
by daniel-cussen 9y ago
Makes perfect sense to me too.
Islam forbids them from charging compound interest, but allows them to seek riches in the shared profits of successful ventures.
- lostboys67 9y agoIts interest at all which is banned, which is why there are Sharia compliant bank accounts and investments.
- daniel-cussen 9y agoNo, they allow interest for inflation. A Muslim may ask for interest provided the end result is the same amount of specie, no matter how it's cast.
- lostboys67 9y agoThat's interesting I sit corrected but who decides what to use as the inflation measure ?
- daniel-cussen 9y agoSame amount of specie, same amount gold or other precious metal.