We Don’t Go to Bars, Why Do We Go to Banks?

We Don’t Go to Bars, Why Do We Go to Banks?

By SuhaibWebb on from www.suhaibwebb.com

When I recently consolidated a student loan I had taken out many years ago, I noticed that the amount I owed was more than double what I had originally borrowed. I’m still in school, so I don’t have double the education from when I first took out the loan. I definitely don’t have double the income. Even before I knew anything about Islam and how it forbids usury, I knew something was wrong with that picture. And that there was a bigger picture involving a whole world in debt crisis.
The Failure of Islamic Finance

The Failure of Islamic Finance

By MuslimMatters on from muslimmatters.org

The Islamic finance industry has often battled with the question: How Islamic is Islamic banking? The question's pertinence was raised by Sheikh Muhammad Taqi Usmani who said that 85% of Sukuk, or Islamic bonds, were un-Islamic.

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