[lbo-talk] No Interest?

tfast tfast at yorku.ca
Wed Mar 8 13:08:07 PST 2006


Just because you can't charge interest does not mean you can't receive service fees.

Dennis Perrin wrote:


> 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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>



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