(August 14, 2021 at 12:08 pm)Fake Messiah Wrote:(August 14, 2021 at 10:25 am)WinterHold Wrote: All the Muslims of the world see "interest" as a sin that brings destruction from their God. So bankers automatically have 1.8 billion Muslims who wish to see them vanish, them and their sinful way.
Wow, yeah, the big "difference" is when a person wants to buy a car or house and needs a loan, rather than charging interest, Islamic bank buys the vehicle or a house and sells it to the individual at a price higher than market value, and retain ownership on the car or a house until the money is paid - which is basically interest rates but they pretend it is not.
Or they give a corporate loan in which, in addition to repayment of the loan, the bank earns a share of whatever profit the company makes.
There is no "excuse" for 'interest rate'/'Usury' in Islam:
Quote:Although Islamic finance contains many prohibitions—such as on consumption of alcohol, gambling, uncertainty, etc. -- the belief that "all forms of interest are riba and hence prohibited" is the idea upon which it is based.[18] The word "riba" literally means "excess or addition", and has been translated as "interest", "usury", "excess", "increase" or "addition".[20][21]
According to Islamic economists Choudhury and Malik, the elimination of interest followed a "gradual process" in early Islam, "culminating" with a "fully fledged Islamic economic system" under Caliph Umar (634-644 CE).[22]
https://en.wikipedia.org/wiki/Islamic_ba...y_in_Islam
Continuing from wikipedia:
Quote:Other sources (Encyclopedia of Islam and the Muslim World, Timur Kuran), do not agree, and state that the giving and taking of interest continued in Muslim society "at times through the use of legal ruses (ḥiyal), often more or less openly,"[23] including during the Ottoman Empire.[24][25] Still another source (International Business Publications) states that during the "Islamic Golden Age" the "common view of riba among classical jurists" of Islamic law and economics was that it was unlawful to apply interest to gold and silver currencies, "but that it is not riba and is therefore acceptable to apply interest to fiat money -- currencies made up of other materials such as paper or base metals -- to an extent."[26][Note 2][/url]
Ironically, fiat money was introduced widely in the 20th century by Nixon, and once by China for short years only before Islam even comes :
Quote:Government-issued fiat money banknotes were used first during the 11th century in China.[4] Fiat money started to predominate during the 20th century. Since President Nixon's decision to in 1971, a system of national fiat currencies has been used globally.
https://en.wikipedia.org/wiki/Fiat_money...20globally.
So we can put thousands of red underlines under the theory that "usury" was legal in the Ottoman Empire. Especially when the Quran prohibits it.
Moving on:
Quote:In the late 19th century Islamic Modernists reacted to the rise of European power and influence and its colonization of Muslim countries by reconsidering the prohibition on interest and whether interest rates and insurance were not among the "preconditions for productive investment" in a functioning modern economy.[27] , argued for a differentiation between sinful riba "usury", which they saw as restricted to charges on lending for consumption, and legitimate non-riba "interest", for lending for commercial investment.[28]
https://en.wikipedia.org/wiki/Islamic_banking_and_finance#Usury_in_Islam
Here's where bankes defeated Muslims 'temporarily' and colonized my land, enforcing bank systems that deal with interest on us.
Moving on:
Quote:However, in the 20th century, Islamic revivalists/Islamists/activists worked to define all interest as riba, to enjoin Muslims to lend and borrow at "Islamic Banks" that avoided fixed rates. By the 21st century this Islamic Banking movement had created "institutions of interest-free financial enterprises across the world".[url=https://en.wikipedia.org/wiki/Islamic_banking_and_finance#cite_note-31][29] Loans are permitted in Islam if the interest that is paid is linked to the profit or loss obtained by the investment. The concept of profit acts as a symbol in Islam as equal sharing of profits, losses, and risks.
https://en.wikipedia.org/wiki/Islamic_ba...y_in_Islam
And that's that.
1.8 billion Muslims despise the filth of bankers, I hope all the free people join the fight against these ghouls.