Interest based lending and Sharia law . Why the Fed cut the interest rate when the market collapsed ? Because it is healthy they said . And indeed it is . الآية القرآنية وأحل الله البيع وحرم الربا Ive added this status because I regularly hear heartbreaking stories from individuals who are facing tough economic times. Unfortunately most of these ask for legal advice or money , which I just cant give. However I can give you feedback. Luke 6:35 But love your enemies, and do good, and lend, expecting nothing in return, and your reward will be great, and you will be sons of the Most High, for he is kind to the ungrateful and the evil. Usury is wrongly defined as the act of lending money at an unreasonably high interest rate, this rate is defined at the state level. Repayment of loans at a usurious rate makes repayment excessively difficult to impossible for borrowers. This is also called loan sharking or predatory lending. Usury has recently come back into daily conversations due to the emergence of payday loans and sub-prime lending. These types of loans are aimed at those who are at greater risk of defaulting, Usury is a very old notion that is almost as older than banking itself. It was first simple the charging of a fee for a loan. It is something obviously wrongly accepted today.
Posted on: Sat, 25 Oct 2014 16:38:22 +0000
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