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To Sayed Rafey: You reaction against interest is unreasonable

Reader comment on item: Salman Rushdie and British Backbone
in response to reader comment: To Plato: People are deprived of basic living needs because of interest based banking and economy.

Submitted by Plato (United Arab Emirates), Jul 21, 2007 at 07:25

>>Dear Plato, It is the soul that reacts.<<

Yes. Since the soul controls the body, the Islamic-type soul seems to make Muslims angry, violent and furious for the silliest of reasons.

>>And yes neither Muslims nor anyone else have time to feed souls. People are deprived of basic living needs because of interest based banking and economy. Nobody cares you have heard this idom now a days.<<

Read a little history Sayed Rafey. Before interest based banking, in the remote past when there was no banking at all were basic needs met? Famines, incurable diseases, wars, cannibalism all were rampant. Since the advent of interest based banking these are slowly beginning to disappear and the earth can now support more people that it ever has. I am not an economist but even I can see that without interest people would hoard their wealth instead of enabling society to put it to use to support the less fortunate.

Do you have any objection to earning rent from your property? How is it substantially different from interest? You put your money in a property and charge rent from people who want to use it. Is it not interest on the money you have spent to enable somebody without the necessary resources to occupy your property.You could also have given him money to build the property. For using your wealth to build the propery you charge him rent (interest). Many Islamic institutions hypocritically rename interest as profit. Luckily profiteering has not been banned by the Koran.otherwise Muslim countries would have a tough time charging exhorbitant prices for their oil.

regards

Plato

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