What about dealing in any kind of interest? The following verses in the Quran from Surah Baqarah, the first surah of the Quran, verses 278 and 279 should make it clear: "Believers! Hold Allah in fear and give up all astounding interest if you do truly believe. But if you do not do so, then be warned of war from Allah and His Messenger."
anything that deals with interest is not allowed in islam, stocks however are fine as long as they are not stocks of companies that are based on interest for example buying and selling stocks of banks is considered haram because their main line of business/profit is from interest.
There is such a thing as Islamic economics which is free from usury and had long existed before Adam Smith's theories on capitalism. - MENJ
community gets togather, lends money free of interest to people that need it. it is very hard to do it in the west where everything is based on interest but it can be done. for example, when my parents bought their house, they had saved up a certain amount and then went around the community borrowing 5k from one person, 2k from another etc they were able to pay for the house. and those people that let them borrow the money did the same. this works very well, free of interest and no mortgage. and yes what menj said, there are islamic institutions do let you borrow the money free of interest
u seem to reject everything else in Islam so I dont think that will go to well with the people ur borrowing from.
well, at least I would be honest and pay them back. Honesty has no boundries in Christianity, we are told to be honest reguardless of what the other believes, in fact to make sure we represent Christ and give no one an excuse to hate Christ.
I think if you proved yourself to be honest, there would be no boundaries as to lending you money. If you truely are interested in knowing how Islam deals with just people, i really think you will be suprised on your findings. If i knew you well, u proved to be honest, i would lend you the money, like any other muslim would do. I was specifically saying if in one sentence you diss islam and on theother u ask for money, wouldnt go to well
??????????????????????????????????? Look what those arabs do to us? Hold us to ransom with there oil.
All businesses and economic activities need debt at one time or other. Availability of debt is the lifeline of all economies and easy access to debt is fundamental to all economic progress. If taking interest is so bad why don't all Islamic countries close all banks and other financial institutions whose main source of income is interest? As a matter of fact, the Nobel Peace prize for 2006 has been awarded to a Muslim, Muhammad Yunus and his Grameen Bank for providing credit to poor and rural people, who usually have no access to debt except from the greedy money lenders. Even Grameen bank takes interest from the debtors.