RE: Does humanity deserve Corona?
March 27, 2020 at 4:47 pm
(This post was last modified: March 27, 2020 at 4:48 pm by Belacqua.)
(March 27, 2020 at 3:57 pm)Mr Greene Wrote: So banks in Islamic countries now are offering loans where the interest is visible which is a more honest position than the one offered by Sharia compliant banks;
Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka
These are financial products where the interest charged is hidden from the customer, as such the system is intrinsically dishonest which is a dangerous procedure to adopt as policy.
Presumably the customers realise they are being charged interest, (they aren't stupid) though the merry-go-round forced by Sharia makes it harder to figure out what is being charged and the culture of dishonesty generated has a corrupting effect amongst those who are responsible for muslim peoples finances.
That's right -- even when banks make a show of being Sharia-compliant, they may still be charging interest. And banks which claim to be Sharia-compliant in this matter are not the majority.
So it would be false to say that governments and banks in Muslim-majority countries don't charge or pay interest.
I appreciate your changing your position on this, based on evidence.
Quote:As for the original claim regarding imperialism; Are you saying that Ottoman imperialism oppressed the Arab people to the point that they rose up and fought for liberty against their oppressors even though the Ottoman forces were equipped with modern weaponry including aircraft, artillery and machine guns, and their repression of the Arabs financial capacity has a lasting effect on Arab economies today?
I am saying that various kinds of imperialism, colonialism, and influence from rich countries have caused terrible damage in the economies and lives of people in poorer countries. I am saying that blaming their poverty primarily on their religions is far too simple.