Some might not know, Islam Law, Lending finance; bank, financers are not allowed | OSTK Message Board Posts

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Msg  44164 of 44194  at  4/13/2018 11:37:52 AM  by

ICE

The following message was updated on 4/13/2018 11:39:12 AM.

Some might not know, Islam Law, Lending finance; bank, financers are not allowed

to lend with %.
 
The financiers takes a stake in the project, whatever it might be. The financiers in other words, when feel it's a sound venture they finance
with the client and project.
 
The upside for the financiers is if the venture goes good, they sell their stake and thus making money on the difference.
 
Looks to me, it's similar to trade stocks. Up or down.
 
I'm no expert on this, but, that is what I learn't from my International biz work in merchant shipping.
 
IF, this has changed I don't know, but IF, why should it have changed ? The system of Islamic Law forbidding lending without interest rates should still be within that Law still.
 
Thus, that is why, given Bitcoins as well as other coins, are Not based on interest rates, but, rather on the '' fluctuations '', are Not based on interest rates.
 
Looking forward to all the Islamic Funds, even their National funds will now participate in the frey of virtual money system, the chain or whatever.
 
Best to all 
 


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