Re: Are the present days muslims following the ritualistic part of the religion ???
Peace Ghost14
There is no reason to have banks as businesses … The robbers thought how best to rob the bank, instead they created their own bank and convinced us all to put our money with them and give them more as a result. They are the only institution who can make money from nothing.
Borrowing money is also unnecessary … It supports a lavishness in lifestyle which is unfounded. There are concepts to have total cooperative banks which house the money for their customers and can operate as insurance companies too … It is about trust … And it is not true … that interest is needed … I know plenty of people who lend others money without interest. There are ways to secure pay back too … Such as holding deposits like the deeds to the household or a car. When the payments are completed then the deposit is returned.