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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (43015)	9/10/2002 10:32:40 AM
From: Ilaine	Respond to of 281500

Just imagine if the bankers had to dig the gold out the ground before making out new loans <ggg> This is one of the main reasons that Islamic nations are so backwards. The payment of interest is contrary to Shariah law, so capitalists have no incentive to loan money. There are creative ways around this, similar to devices which were used by devout Christians during the Middle Ages (like loaning money at a discount, similar to paying points on a mortgage - the interest is built in at the beginning, not paid at the end) but for the most part a device is a device. It can't fool God, say the devout.