Here is a fatwa if you plan to marry into family of a bank employee

[nang2]

Interesting subject. My little google search revealed that the word "riba" that appears in Quran and is explicitly prohibited by Allah may be interpreted as either "usury" or "interest". Orthodoxy Islam tends to use the latter. I think "usury" may be more proper. After all, banking activities that seek interest actually boost economic development and thus enhance the overall well beings of people. Why would Allah prohibit that?

 

[RealNapster]

Asal idea to ab diya

Agay samjhdar hein ap

Saath Naswar complimentary.

 

[Godman]

Interesting subject. My little google search revealed that the word "riba" that appears in Quran and is explicitly prohibited by Allah may be interpreted as either "usury" or "interest". Orthodoxy Islam tends to use the latter. I think "usury" may be more proper. After all, banking activities that seek interest actually boost economic development and thus enhance the overall well beings of people. Why would Allah prohibit that?

Such laws probably made sense during a time where there were no properly regulated financial institutions but in the modern era where financial institutions are regulated and monitored by the Government such laws are outdated.

 

[nang2]

Such laws probably made sense during a time where there were no properly regulated financial institutions but in the modern era where financial institutions are regulated and monitored by the Government such laws are outdated.

Actually, such laws make sense when government is heavily involved in financial institutions. With close government ties, financiers can maintain their monopoly by restricting newcomers, charge insane rates and get away with it. They are only no longer necessary when there is sufficient competition among financial institutions and free entry into this business.

In short, don't assume government is a benign saint.