3 ms·
> Religions who ban usury (now or in the past) only did so for "one's own kind" Not the case for islam, it's banned for all, regardless of being an 'in-group'
by gryn 3y ago
> Religions who ban usury (now or in the past) only did so for "one's own kind"
Not the case for islam, it's banned for all, regardless of being an 'in-group' or 'out-group'.
And the closest financial instrument similar to charging interest that's allowed is basically the lender buying it and selling shares of the thing to you at a markup with installments, meaning that they are sharing the risk with you.
- andsoitis 3y ago> selling shares of the thing to you at a markup with installments Islamic banking has provided several workarounds to accommodate financial transactions without charging explicit interest.
- deleted 3y ago[deleted]