[lbo-talk] No Interest?

Dennis Perrin dperrin at comcast.net
Thu Mar 9 06:03:12 PST 2006


In the middle of this piece about growing Arab investment in the US (with little if any liberal protest) --

<http://www.washingtonpost.com/wp-dyn/content/article/2006/03/06/AR2006030601817.html>

I found this interesting tidbit:

"Arcapita has raised billions of dollars from investors in the UAE, Saudi Arabia, Qatar and neighboring countries and has invested the majority of it in the United States, where it owns Caribou Coffee, Church's Chicken and other companies, as well as real estate. The investments have to conform with sharia, or Islamic law, which means that they cannot involve businesses that traffic in alcohol, pork, pornography or gambling and that they have to use special types of financing to avoid violating Muslim rules against charging interest."

There are many things that I don't know about this world, and one of those things is that Muslims don't believe in charging interest. Does anyone have further info or relevant background on this?

Dennis



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