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All interest is usury in Islamic Law (and the laws before it such as Christianity and Judaism). There are ways to to put free cash into productive use without e
by za3faran 4mo ago
All interest is usury in Islamic Law (and the laws before it such as Christianity and Judaism). There are ways to to put free cash into productive use without exploitation.
- UltraSane 4mo agoI understand and I disagree. Interest isn't always "exploitation". A 5% loan isn't exploitation and it is very stupid to ban such things.
- za3faran 4mo agoI think it's easy to look around us to see why it makes complete sense to prohibit it.
- UltraSane 4mo agoIf going by the very poor economic performance of Muslim countries I would say interest is a very good thing if limited to reasonable interest rates and fair bankruptcy laws.
- za3faran 4mo agoCorrelation vs causation (post WWI colonization comes to mind, that continues to this day). Historically, there was a period of time when there were no poor people left to take Zakat, everyone paid their share, and no usurious transactions permitted.
- UltraSane 4mo agoHistorically, there was a period of time when there were no poor people left to take Zakat, everyone paid their share, and no usurious transactions permitted. When was this?
- za3faran 3mo agoDuring the time of Umar bin Abdul-Aziz.
- n4r9 3mo agoThis is worth treating carefully. There are sources like Ibn Kathir and al-Tabari writing centuries later which claimed that Zakat collectors would return with unspent funds because eligible recipients could not be found. Even if we take this at face value, that's a leap from there being no poor people left. Did it apply to the entire empire or only a few regions? How likely was the collector to actually find recipients if they existed in a given region? etc...
- za3faran 3mo agoPoint is to refute the claim the current situation in some Muslim countries is caused by Islam, instead of it being a direct consequence of colonialism.