[lbo-talk] finance capital & shari'ah

[Michael Perelman]

even so, zero interest bonds would qualify.  in fact, the whole idea of a discount rate -- 
charging no interest but discounting the original loan -- came about as a rouse to avoid 
the strictures of the Catholic church.

On Thu, Jun 23, 2005 at 11:57:20AM -0400, Doug Henwood wrote:
> Jim Devine wrote:
> 
> >there are no bonds in the index, since interest is verboten?
> 
> It's a stock index, so there wouldn't be any bonds in it. Curiously 
> it has a lot in common with some "socially responsible" indexes - 
> this is from the full press release:
> 
> >Stocks that are excluded from the Islamic index are those of 
> >companies that deal in alcohol and tobacco products, pork-related 
> >products, financial services, the defense and weaponry sector, and 
> >entertainment.
> 
> Sut Jhally would be pleased at the last!
> 
> Doug
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-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu