5 ms·
I read once that in Islam taking interest on loans is forbidden, therefore Islamic banking operates based on some kinds of cooperatives. Is switching to an Isla
by marton78 6y ago
I read once that in Islam taking interest on loans is forbidden, therefore Islamic banking operates based on some kinds of cooperatives. Is switching to an Islamic bank maybe an option?
For those in Germany I recommend GLS bank. They have an ethical charter on whom they invest in and their loans are fully backed.
- TeMPOraL 6y agoCan't find the source now, but I read that while Islam (and Judaism, at least in the past) forbids usury and this sort of extends to low interest too, the concept of interest is useful enough (or at least in demand) that people developed all kinds of practices that work almost exactly as interest.
- cutler 6y agoA Jew is allowed to charge interest to anyone outside the Jewish, Christian or Muslim faiths.
- multjoy 6y agoThe whole reason that the Jewery got a bad rap in mediaeval days is that they were the only people who could charge interest, and people find it very easy to be turned against The Other who is also making money from them.