02-18-2006, 12:53 PM
Quote:Yes interest-free economy does exist. For a fully-detailed answer, please watch the two-part video titled "Interest Free Economy" available on this page (and while you are there, you can watch some of the other videos too. They are really good) :
http://www.aswatalislam.net/DisplayFilesP....Name=Zakir_Naik
It is old, so there are many updates to it now. There are more Islamic Banks worldwide. In UK there is one fully functioning now. In fact, I have just opened an account with them and I am transferring over.
He is wrong that interest to a business is different than interest to an individual. A "business" is just a piece of paper, there is still a person behind it.
Also, it is interesting that he spends so much time talking about intoxicants, since I call Interest an addiction. :-)
I've only watched half of it so far, will catch more later.
I could give a talk like that in my sleep. A recent breakthrough I had is that the problem is not just Interest, but also the concept of "profit" itself, (what Marx called Surplus Value.)
I look forward to watching the rest of Part I an Part II.
Please tell me more about your bank that you arte moving to. Do they have a website?