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asked 3 months ago
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That's just normal banking, where interest is charged. In Islam, the charging of interest is regarded as Usury, and is forbidden. Charges and fees however *are* allowed, and by a magical coincidence, if you take out an Islamic loan for 3 years, the amount you have to repay including fees and charges, is exactly the same as a conventional loan repaying capital and interest would cost you.
Dontcha just love religious hypocrisy? :-)
Dontcha just love religious hypocrisy? :-)
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