Gold

Max B. Sawicky sawicky at bellatlantic.net
Thu Feb 27 04:41:22 PST 2003


I thought Islamic finance entailed selling notes at a discount, on the pretext that the repayments were not the same as interest.

mbs

From: DoreneFC at aol.com
> As long as we are wandering around in the land of the gold standard, does
> anyone understand the Islamic laws about financial matters? The only thing
> I understand is that there is a prohibition on interest, but I do not
> understand how that is operationalized within the present financial sytem.

Islamic banks usually revolve around profit-sharing. They lend a business money, and share in the profits - if the business receives no profits for a year, the rentier receives no return on their money. Get your own FREE, personal Netscape Mail account today at http://webmail.netscape.com/



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