Wait...what?

see

I approve of this non-usurious system.

How did usury even become legal?.

i thought the creditor gets a share of the debtor's business and the interest is taken from future profits if they exist, if not, it's just the principal whch must e repaid no matter what.

I heard that some islamic banks buy what you need for you then resell it to you in small monthly payments, is that true ?

>I've done biz with Islamic lending institutions. It's MORE usurous. They pack profit margin + coverage for losses into the principal (those two things are called interest), and it ends up being worse for the consumer. You pay 100% of the interest, even if you pay off your loan early.

ahhh, makes sense. Thanks.

They, more or less, charge a flat fee for making a loan.

It makes exponentially compounding interest impossible, which is actually good.

Reminder that usury is also un-Christian.

uh yeh... we need that here.

suddenly i support immigration

The equations and repayment schedule may be different as for what is considered interest, but the end result of over a period of time where you borrow money and pay more than you borrowed is mathematically equivalent.

technically christians should not accept usury either but theyve been cucked into oblivion.

It's not fair. Why do they get so much right, but have to be Muslims anout it?

>How does that work?
they have been close to the jews long enough to stay away from their tricks

too bad islam and muslims are shit

This question is anti-Semitic. Delete it now, goy!

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>The equations and repayment schedule may be different as for what is considered interest, but the end result of over a period of time where you borrow money and pay more than you borrowed is mathematically equivalent.

the difference is between fixed and compound interest. if the bank's way of e.g. financing a purchase is buying what you need for you then resell it to you in small monthly payments, then you cannot get caught in a debt trap. that eliminates the usury problem.

I'll concede to that. But surely they have some sneaky bullshit though? Can they 'increase the amount of required profit sharing' for failure to pay on time?

I work in shipping.

Islamic Finance = Regular Finance + Paying an Islamic Cleric to issue a fatwa declaring it Sharia-compliant

That is all there is to it.
It's the same exact thing as in the rest of the world.

As always, Islam is about hypocrisy first and foremost.

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>Can they 'increase the amount of required profit sharing' for failure to pay on time?

Only if you agree, otherwise you can walk away from the deal. That's kinda the point, it takes away the trap that usury draws you into.

Here's the problem, you are not one of them and never will be. So they don't support you, your rights or anything about you and never will.

(((Usury))), I say let them have that one, they are lucky. You just jelly

Aren't credit unions pretty similar to this?

same way it works for jews who have loans without interest

>How did usury even become legal?
The decline of feudalism and the rise of private enterprise at the start of the modern era brought about a massive increase in the number of people seeking loans to purchase land or start businesses. At the same time, people were moving out of their ancestral villages into cities.

What this meant was that instead of taking out small loans from friends or family who were content to rely on the debtor's word that he'd pay them back, people were now seeking to borrow large sums of money from strangers, who did not care about them or know their reputation. Without interest to act as an incentive, who would lend under those circumstances?

It was necessary to legalize charging interest in order to encourage lending and thereby stimulate the economy.

People find ways to re-create Interest without calling it Interest. boom. Islamic compliant.

Normal loan
You get a loan for 100 dollars. With interest you pay 110. You pay 10 bucks for 11 months.

Islamic Super Loan
You get a loan for a 100 dollars. You agree the seller deserves profit of 10 dollars for giving you this money. You agree to pay him in installments. You pay 10 bucks for 11 months.

It's all a shame.

Interest also serves a means of efficient allocation of resources by measuring and accounting for risk.
It also encourages a good flow of money. If I loan 100 dollars to a stranger just to get 100 dollars why would I bother? There is risk and I will lack that 100 dollars in the in between time. I don't know if i might want or need that 100 dollars while it's loaned to someone else.
But if you agree to pay me a little bit more extra in exchange for money NOW, then now i have an incentive. Now i have a reason to not simply hoard. And someone who normally wouldn't have access to resources is given the money they need to improve their lot in life. It's a virtuous cycle at its most basic.

Even high interest rates have a place. Risky shitty people get payday loans. A greater rate of them fail to repay those loans and get fucked by the interest. This allows for everyone else to get by using the payday loans they need to survive. Loans which they payback before the interest even starts to accumulate.

they dont charge interest but they take "gifts" its a bullshit workaround to stay sharia compliant

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They charge ongoing "service fees" that are basically exactly like interest, but with enough Islamic pilpul that they can pretend otherwise. It usually ends up being way more than just a normal interest rate and is a huge scam most of the time, but if you argue against it they just claim you want usury and shame you down publicly.
They could teach the Jews a thing about banking desu.

this is why jews hate them and this is why they hate jews. usury. otherwise known as the foundation of our country and the motivation for every single thing the nation has ever done. which explains why they hate us too.

in theory, islamic finance is superior to the kike usury system. The fundamental principal of islamic finance is that you can't loan out money and charge interest on it, as all transactions need to be asset backed and the risk is to be borne by the the owner of the asset. The justification for this is that asset backed transactions generate real growth in the economy as opposed to the interest based system which just breeds inequality.

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>They charge ongoing "service fees" that are basically exactly like interest
ignore this jew who has no fucking idea what he's talking about

>It usually ends up being way more than just a normal interest rate
You need some references for that claim.

It's a religious affair to them, so no, they would go to hell and worse, be banished from their community if it ever got out.

Worse than death for a communial animal.

I was gonna post this. I don't work in finance, but some years ago when I heard about the phenomenon I did some research and found out they do pay interests, they just call it something else. Hide it away in other fees and such. Muslims are so dumb.

Wishful thinking. Not how it works. At least not with "interest free" loans in the west that some banks offer muslims. They just change its name and say they base the fee off of something else. Muslims get jewed as well don't think for a minute otherwise. What you say might be correct when it comes to loans in the desert what the fuck do I know about desert dealings.

There is no way to avoid compound interest if the repayment schedule is not like calculated beforehand. Time preference is always a thing. When you don't pay on time they probably force you to take out another loan to cover the first one and there goes your compound interest.

Islam
>Pros: 1
>Cons: 12858435

Ain't gonna convert me, Muhammad.

They charge interest in other creative ways

>jewed.com
>how can you not be jewed?
golden dinar will rule post ww3 world

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Islamic banking is pretty based. I wish we could bring back a similar Christian version, but that requires us acknowledging kikes are Satan spawn.

not gonna lie, that sounds pretty based.

That’s why the non-oil producing Arab states are big mounds of sand and goats and why the oil producing Arab states look like Wakandia.

I heard they usually calculate the interest as a 'fee' instead.

private banks are not allowed in islam

this is very based

wtf i love islam now

GTKRWN

That's how it (should) work for Christians too
You can't make money off of time (which belongs to God)

Just more prof that our country are more develop then yours west propaganda say we not know science when we are most advance west say our bank bad when our economy are best Islam make more develop country then west because Islam is the truth

>Islamic banks dont believe in interest rates? How does that work?
Neither did Christian ones.

It only matter of time that the will of Allah happen to your country you don't need to convert in the future it be done for you instead mashallah

More thing christen steal from Islam in our country which are more scientifical there is prof that christenity develop after Islam it try copy us so that why Europe advance a lot not because if christen but because of islam

A big part of it is that mudslimes don't know basic math.

Islamic banks don't allow you to give someone money in exchange for money (this would be usury), but they do allow you to give people goods in exchange for money -- and doing so at higher than the value of the goods is simply "business"

Most banks will offer to buy things on your behalf if you pay them back plus a fee within 90 days. This is basically interest, except with a guaranteed collection date. If you do the math they actually charge absurd interest rates -- like 20% or more

More western lies kike

Right but then how do you make money?

Lets say I want to start a factory that makes toothbrushes. I come to you because I need capital. If you're not going to charge interest, how do you get a return on your investment into my factory?

t.seething kike

I loan you $5000. You Owe me $7000. How much you owe me doesn't change over time. This is how it's supposed to work. Kikes subverted banking and added Usury a long time ago.

Nice meme flag

Get off that 9 year old.

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then explain how it works before you go explode in a pizza shop or drive through a Farmers market full of tourist

so they buy the goods for you and you have to pay bck within a set time period

what if you dont pay it back in full in 90 days? Jail? How does this work for large loans to private enterprise? Oh right, everything is state owned.

...still, there must be some small businesses that require funds that number in the tens of thousands

Musharaka (partnership) is one of the financing contracts used by Islamic banks. A Musharaka contract is an agreement where two or more parties (for example an Islamic bank and its clients) agree to contribute to the capital - in cash or in kind, no debt is accepted - of the partnership in equal or varying amounts to establish a new project or share in an existing one.

Musharaka could be constant, where the partners’ shares in the capital remain constant throughout the period as specified in the musharaka contract or diminishing, where the Islamic bank agrees to transfer its share gradually to the other partner, so that the Islamic bank’s share diminishes and the other partner’s share increases until the latter becomes the sole proprietor.

The profits and losses (risk) from the business are split as per the ownership %. This is in contrast to conventional finance whereby the borrower assumes all the risk. Even if the business is making losses, the borrower has to pay the interest every month.

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> This is basically interest
nice strawman schlomo.
This is not the same as interest as the key differentiating factor is risk. i.e. which party assumes it. For eg if you need a car islamic bank would purchase the car on your behalf and "rent" it out to you and charge "rentals" on it which include the principal + spread. But unline conventional banks the asset is owned by the muslamic bank, hence they assume all the risk. If the car were to be jacked by a nigger the bank takes the loss, as opposed to jew finance where even though you're just lost your car you're still liable to make the monthly shekhel payments.

honestly a lot of these alternatives just sound like arrangements we already have in the west

thats called a publically traded company

Simple. You can't pay? You're in default and subject to the legal consequences of that or you accept a new loan to cover the full amount you owe plus totally-not-interest with an end result of totally-not-compound-interest.

>publically traded company
wut? You can't be this daft.

musharka financing is simply a shariah compliant version of traditional financing. If i need a new apartment i can get into a musharka agreement with an islamic bank. I put a downpayment of 30%. Bank owns 70%. The bank charges me a rental on the 70% + purchases back "units" (kinda like principal repayment) which gradually reduces the bank's share over the tenure of the agreement.

you wish dirty nigger.. your fuck ass religion was setup by the vatican through mohammeds relative fatima in an attempt to retake lost territory of the roman empire

Why do you need interest rates?

If all interest does is account for risk then how do the banks make so much profit? Shouldn't they just break even if that were the case?

youtube.com/watch?v=CCb6uFBjkYY
youtube.com/watch?v=CCb6uFBjkYY
youtube.com/watch?v=CCb6uFBjkYY

MUST WATCH

not even mudslimes want a l*af in their community

So in Islamic banking, you only pay interest if you actually succeed to make money?
But if you fail, you pay back the money without interest?

How does this work for like a mortgage?