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If you paid $10k toward a $100k asset, most of that $10k actually goes toward interest because of how the loan is setup. Islam never denies that time and money
by gher-shyu3i 6y ago
If you paid $10k toward a $100k asset, most of that $10k actually goes toward interest because of how the loan is setup.
Islam never denies that time and money are related, it just places moral restrictions on how money can be used in society without exploitation.
- selimthegrim 6y agoI have some bad news for you if you think profit sharing is going to replace free cash flow as a metric for company expansion. What happens if there's no profit? Have you been watching that Khadim Hussain Rizvi video where he tells the Pakistan Army to just repay the IMF loans' principal?
- gher-shyu3i 6y agoIf there's no profit, the investors and the company owners have taken the risk and share it equally. What's the problem? I'm not aware of Pakistan's Army deal with the IMF. If they took on an interest bearing loan, it's their problem they got themselves into.
- selimthegrim 6y agoThey didn’t have one. Rizvi was encouraging a coup for them to deal with loans of civilian govt
- selimthegrim 6y agoYou might want to look into Amazon or “Hollywood accounting”
- gher-shyu3i 6y agoThe fact that there are other examples of exploitation and fraud is tangential. The argument is that interest is one form of exploitation, it's not the only form.
- selimthegrim 6y agoMy point is unequally shared risk is exploitation, but maal-e-ghanimat isn't?
- gher-shyu3i 6y agoGhanayem is not unequally shared risk. People go to war for reasons, sacrifice their lives, and the winner takes bounties.