4 ms·
And both religious created a way to indirectly pay interest by turning it into a business partnership. i.e. when you are helping someone (a friend, relative) y
by ars 3y ago
And both religious created a way to indirectly pay interest by turning it into a business partnership.
i.e. when you are helping someone (a friend, relative) you don't pay interest. But when it's a business loaning the money that desire to help doesn't exist, and it becomes a business partnership instead.
https://en.wikipedia.org/wiki/Loans_and_interest_in_Judaism https://en.wikipedia.org/wiki/Loans_and_interest_in_Judaism specifically: "Heter iska". And https://en.wikipedia.org/wiki/Murabaha https://en.wikipedia.org/wiki/Murabaha for Muslims (I think there are other forms as well). A copy of a Heter Iska: http://www.jlaw.com/Forms/iska_d.html http://www.jlaw.com/Forms/iska_d.html
- OkayPhysicist 3y agoYou're supposed to use Mudarabah[0] preferentially, which is dramatically less of a lazy hack around usury rules than Murabaha. (Also as a English speaker, those words are very hard to distinguish.) [0] https://en.wikipedia.org/wiki/Profit_and_loss_sharing https://en.wikipedia.org/wiki/Profit_and_loss_sharing