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"You Have Dollar, We Have Allah!" - Erdoğan Erdoğan has invoked religion multiple times to justify his insistence on low interest rates (Islamic finance prohib
by olalonde 3y ago
"You Have Dollar, We Have Allah!" - Erdoğan
Erdoğan has invoked religion multiple times to justify his insistence on low interest rates (Islamic finance prohibits interest). I don't know whether it's a genuine belief but it's his stated one.
- beebmam 3y agoIncredible to me that these kinds of statements don't get people removed from power.
- TeMPOraL 3y agoThere's a huge chunk of society more or less susceptible to such messages. In the secular West, this is usually phrased as "money doesn't buy happiness", or "there is more to life than material wealth", or "money can't buy me love, can't buy me looo-oove!", etc. And of course Christianity has its own set of memes around it. The difference is, perhaps, that I haven't heard of a Western politician using such phrases directly when addressing the people - but that might just be because such politician would be considered a hypocrite. It works differently when religion is involved, too.
- niemandhier 3y agoIslam would also dictate a gold/silver bound currency
- unmole 3y ago> Islamic finance prohibits interest Islam prohibits Riba which roughly translates to usury or unjust gains. While today it's widely believed to mean all forms of interest, that wasn't always the case. Even Caliph Umar was of the opinion that the definition of riba was ambiguous. The bulk of Islamic finance today involves structuring financing arrangements that are functionally equivalent to interest bearing loans but let everyone pretend otherwise.