Why is Interest (Riba) Haram?

[cantspeak]

what other comments? and I'm just a conspiracy theorist.

 

[cantspeak]

My understanding is you not allowed to make a profit on lending. You have to expect only what you gave.

@TheLibertarianQuiche
I reckon what islamic banks do is you will walk in and say you want a car and the car cost 20k. They will then buy the car outright. Then they will agree a payment plan of say 500 a month. But they will add profit on top of the price of the car. thats what i have been told and its how they avoid riba. because they bought the car added a profit to it and sold it to you.

The annoying thing is to stay in business they have to charge higher rates than a standard mortgage. They're basically following the letter of the law and discarding the spirit of the law.

 

[bluebird]

I noticed you liking more pro-capitalism comments than socialist/communist on here, unless I'm confusing you for another member loool.

Even a Xalimo conspiracy theorist is interesting. Most Xalimos I noticed are hardcore social warriors. So, it's interesting to see a different kind of Xalimo

somali women are commies these days

I''m not against socialism but i think it encourages certain groups (refugees) to be lazy. As an economic system i don't think it's bad

 

[XawoTako]

Im not qualified to answer such question but riba makes the rich richer.it's like legally stealing peoples money

 

[Adheer Warsame]

Im not qualified to answer such question but riba makes the rich richer.it's like legally stealing peoples money

It's not theft when people agree to it, a contract is signed and they should know what they're getting into

Also, you can't 'legally steal', it makes no sense

 

[Inactive]

Are you muslim?

Nondenominational yes

 

[Adheer Warsame]

Nondenominational yes

I thought you were a salafi-atheist? What happened?

 

[Inactive]

I thought you were a salafi-atheist? What happened?

I was** a long time ago

 

[Adheer Warsame]

I was** a long time ago

Kkkkkkkkk

 

[XawoTako]

It's not theft when people agree to it, a contract is signed and they should know what they're getting into

Also, you can't 'legally steal', it makes no sense

To me it makes sense because people are forced to pay riba if they want to take a loan