Mozaik Islam

Puasa Ramadhan, Fiqih Shalat, Rahasia Sunnah, Zakat Fitrah, Haji dan Umrah

Economy and Life

The Islamic Solution, Interest and Its Role in Economy and Life

The Islamic solution to the issue of interest rests upon two basic principles:

  1. If an individual wishes to lend money to another in order to help the latter, this act must be based on “brotherly principles” and it is absolutely unacceptable to charge any interest in such a case. It is not helping another individual to put him into a cycle of debt where he has to pay more than what they borrowed. This principle applies as well to Islamic international relations. If this important principle were applied today, countries would truly give “aid” and assistance to other countries, rather than sucking them into a pattern of dependency and debt burden. Readmore