01-20-2006, 08:42 AM
Well not exactly, its more complex than that. The fee for service is more of for the service or for the use of a product. Interest in the form of compunding and 'fixed' component of a loan is you may agree more taxing and unfair.
Infact the practice of regualting interest and monetary policy is more of an Islamic regualtion. Where the state (Bank of England, Fed) regulates interest rates to ensure adequate economic activity.
Well it is quite a long discussion, but in Islam commerce and relegion are one. Infact Islam is not just a relegion it is more appropriate to refer to it as 'DEEN' or a way of life.
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"Failure is a word unknown to me" - M A Jinnah
Infact the practice of regualting interest and monetary policy is more of an Islamic regualtion. Where the state (Bank of England, Fed) regulates interest rates to ensure adequate economic activity.
Well it is quite a long discussion, but in Islam commerce and relegion are one. Infact Islam is not just a relegion it is more appropriate to refer to it as 'DEEN' or a way of life.
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"Failure is a word unknown to me" - M A Jinnah