Thursday, October 1, 2009

Quran had forbid loan interest, buying land or other investment tools are better than make bank deposit?

The other side of bank transaction which is very important to the bank and represent major activity: If you can't pay for it instantly or within a month, do without it until you can...


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The bible forbid Jews from charging interest also

but that was based on an agrarian economy not a system built on capitalism.

I'm not sure it still applies

Wrong!

Qur'an has forbideen intrests among muslims.

As for the bank, you can take a loan, its part of the contract.

You can invest, you can buy land, you can deposit, you can withdraw.

YOu can do whatever you want. Its your choice.

You can invest, even in the stock market, thats bussiness.

Misinterpretation leads to misguidance.

If you interpreted the law yourself, i recommend you get help from a muslim scholar.

This isnt a question, it's some type of lecture about 6th century islamic banking practices. WHO FRIGGIN CARES what the cavemen do?

The Quran is contexual and was true in its time. try not to look at the situation of Islam today... Interest rate then was beyong monetary values, people used to put their wives and daughters as a colatoral. Interest in Islam is not kosher because then there were loan sharks and used to rip off people and turn them into slaves ... so the Quran came to structure the financial institution at the time. It created what we call today the Stock Market. Insead of depositing your money you put it to work. Either you win or lose. That makes the broker as someone who is responsible where the money goes. So some people would invest in moderate stock while others used to get more aggressive and invest in foriegn trade that was quite lucrative but risky as ships and caravans could get mugged by pirates and take all your investment.

Pretty much Islam has set the foundation of the stock market as we know it today. All muslim countries today have banks just like the one in the US. Islamic banks only represent less than 3% in the amount of money saved in the Muslim world.

you obviously care about God and what He thinks. God is God and knows us and what we do. if we seek Him surely He will not fosake us. please ask Jesus into your life and be born again by the power of the Gospel (which is a real event in your real life) i know cause it has happened to me! God whoever He is will look kindly on us if we want to seek and follow Him and is so awsome He would not care if we seek in the wrong place, surely. Jesus is mentioned as a prophet in the quran so if you are wrong to seek Him as Gods son you would think God will forgive you for trying because a man advised you to as he did taht and it actually happened. i was not even someone who beleived in God before i prayed to Jesus. God will answer yoou!

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