03-04-2006, 04:31 PM
Asalam O Alaikum,
i just read the disscusion and completely in agreement that interest is Haram and it is not in the benefit of the whole community.
We all Know that Riba (Interest) is haram, still we as an accountant have to face it in our routine professional tasks,
1. What we can do to avoid it at personal level and at the level of the organisation we are working with?
2. Are the Islamic solutions offered by the different financial institutions acceptable in the light of the teaching of islam (i.e. we always remain suspicious about the substance over form thing)?
3. The badness of interest is same for the person charging the interest and the person who has to pay the interest on the loan he has taken to take care his neccesities of life?
i just read the disscusion and completely in agreement that interest is Haram and it is not in the benefit of the whole community.
We all Know that Riba (Interest) is haram, still we as an accountant have to face it in our routine professional tasks,
1. What we can do to avoid it at personal level and at the level of the organisation we are working with?
2. Are the Islamic solutions offered by the different financial institutions acceptable in the light of the teaching of islam (i.e. we always remain suspicious about the substance over form thing)?
3. The badness of interest is same for the person charging the interest and the person who has to pay the interest on the loan he has taken to take care his neccesities of life?
