3 ms·
Everyone knew that it was a BS argument. In Islam there’s no “low interest is ok, high interest is not”, interest is not allowed period. Not that that has sto
by turquoisevar 3y ago
Everyone knew that it was a BS argument.
In Islam there’s no “low interest is ok, high interest is not”, interest is not allowed period.
Not that that has stopped capitalism in Islamic countries, they just restructure it in a single fee and call it a “service fee”. Often done in a similar way that US lenders do with products targeted at riskier demographics: borrow $10k with a $2k fee, customer receives $8k.
And yes, lots and lots of nepotism in Erdoğan’s Türkiye.
- alephnerd 3y ago> Everyone knew that it was a BS argument Yep! Just introducing the fact that Erdogan basically contorts Islam for personal political gain to people who don't realize (or forget) it. Plenty of foreigners have a weird conception of Turkiye. > they just restructure it in a single fee and call it a “service fee” Yep! One of my buddies who I studied with wrote their PhD thesis on the intricacies of "Islamic Finance", which is primarily used as a way to launder money out of Iran via Turkiye, Qatar, and Malaysia.