Islamic Banking

In a partnership or joint venture where money is lent, the creditor only provides the capital yet is guaranteed a fixed amount of profit. The debtor, however, puts in time and effort, but is made to bear the risk of loss. Muslim scholars argue that such practice is unjust.[17] As an alternative to usury, Islam strongly encourages charity and direct investment in which the debtor shares whatever profit or loss the business may incur.

Posted by: Elaine Nelson (not verified) | 25 July 2008 at 1:52

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