interest and islam

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interest and islam

Shahid_fss
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#93

02-27-2005, 11:04 AM

Hi guys
Sorry I can't read the whole topic as it is too long.

The question was about "riba" when there is inflation
Islamic economy is built upon many things not just on interest. If we take a model Islamic economy then weâll see that there are no extra spending, no black money to spend on, equal distribution of wealth (through zakat and taxes), no costly (useless) imports to spend on, simple living so no high demand, fair business and trade so no problem in supply, hardworking and sincere people so no foreign aid, followers of Islam so no crimes, volunteer army as used by Muhammad PBUH so low defense budget (just for weapons) and so on. If you compare all these things with the theory of inflation, you will see that all these things reduce inflation and keep the value of money and prices same at small changes. When there will be no inflation at all then we should not worry about interest.

Even then partnership on profit and loss sharing basis can be carried on.

There is no question, as all of us agree, that riba/interest is haram and we should as much as we can stay away from it.

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interest and islam - by mintblue - 01-12-2004, 11:17 PM

RE: interest and islam - by Linkin Park - 03-04-2015, 04:10 PM

[No subject] - by KJK - 02-07-2004, 04:09 AM

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RE: interest and islam - by smraza - 03-18-2004, 09:12 PM

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