Islam prohibits taking interest, which could make life easier according to some people. While it prohibits interest what alternative does Islam provide in dealing with financing?

Question

Interest does not make life easier. In fact it destroys the economic future of people as we see all the financial crises the world is witnessing. This does not mean that financing is prohibited. Financing is useful and has its appropriate venues in Islam. Financing can be provided through a deferred payment sale, leasing or venture capital. Financing through interest- based lending is the only thing that is prohibited because it is not always done to buy useful and appropriate goods and services and also because the loan does not create value. Payment of interest perpetrates injustice.

0
Al-haqq 2 years 0 Answers 332 views