Many have attempted to find a genuine alternative to interest based lending

Please listen to an informative audio discussion with Tarek El Diwany on the true nature of home finance within the so called ‘Islamic Finance’ industry in the context of money creation and debt based fiat money.

An extract of the the audio which can be listened to here;

“…Islam is supposed to be built on issues of justice and on a belief in Allah and following His rules and if we suddenly ignore Allah’s rules and start making fraud permissible then nothing else that we do after that is going to be correct, especially if we build our entire financial structure on an act of fraud which is money creation. So I was quite disappointed really to find that this issue wasn’t being addressed at all in the Islamic banking sector. For the last thirty years we’ve assumed that we should copy western models of banking and finance, and that has involved copying the money creation system as well as copying the system of advancing money now in return for more money later. And again if we try to copy a structure which is built on usury or structure which is built on fraud, and more particularly if we copy both and try to put them together, then we are not going to be successful…”

A possible solution ( as discussed in the above material, while appreciating that as long as this system is still in existence, any solution within the current framework will only be a short term alternative still subject to boom and bust factors, not a complete and permanent answer) could be Ansar Finance

Please view this website and share with other interested parties

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