08-13-2003, 08:25 PM
In pakistan banks are not allowed charged interest. Instead they charge a profit or what is known as mark-up. Can anyone please tell me how does mark-up diifer from interest. I dont see any except for a change in word.
Secondly if mark-up and interest are the same, people would say that it is haram. Can our economy survive if this concept of mark-up is disallowed? Those of you who do think that we can survive, please elaborate as to how?
Finally, what about investments in stock markets? Are they really halal? If people invest in the market expecting returns, they're basically investing in the company wanting a share in the profits. Isint this concept similar where a bank gives an individual or a group a loan wanting a return in there investments?
Secondly if mark-up and interest are the same, people would say that it is haram. Can our economy survive if this concept of mark-up is disallowed? Those of you who do think that we can survive, please elaborate as to how?
Finally, what about investments in stock markets? Are they really halal? If people invest in the market expecting returns, they're basically investing in the company wanting a share in the profits. Isint this concept similar where a bank gives an individual or a group a loan wanting a return in there investments?
