02-18-2006, 04:39 AM
My view of the world is rather simple: The Love of money is the root of all evil. Interest is the Seed, Fear and Pride fertilize the root. Profit and competition provide the fertile ground.
Muhammed says that one should not engage in transactions with interest, yet interest is everywhere in modern society. Every credit card transaction has the merchant paying interest to the bank.
I have traced the effect that I call The Interest Mechanism back to the Book of Leviticus. http://www.behappyandfree.com/pdf/TheInt...hanism.pdf
I spoke to some Iranian students about banking in Iran, hoping that they may have created an interest-free economy, but instead I discovered that they have also recreated the previous banking system with interest. This problem goes back thousands of years.
My question is this: Are there any Muslim communities practicing within an interest-free monetary system? It seems unlikely that there are any countries that are doing so, but I would like to know more about what is happening in any smaller communities if they exist.