1 year ago5 points(+0/-0/+5Score on mirror)2 children
The problem isn't specific to Muslims. Banking is vital to modern economies and it will exist no matter how hard you try. Best you can do is regulate it. 0% Max interest is not a useful regulation.
Replacing interest with recurring fees follows the letter of the law which is how banking works in Islamic countries. Banning interest is too simple and it will be worked around by people more clever than you.
“Not giving your money to one giant pool where the randomly found head of it can muscle that money around for specific loans that raise the cost of everything for you”
Yea I am fine with not charging interest. Means loans wont be given out and people cant but things they cant afford and thus raise the cost for everyone else and make bankers rich.
Well there's the problem right there.
Yea I am fine with not charging interest. Means loans wont be given out and people cant but things they cant afford and thus raise the cost for everyone else and make bankers rich.