Re: Islamic socialism resulted in utter destruction of Pak economy
I'm only vaguely familiar with the subject, but interest-free loans involve some kind of fee, rather than a compounded interest rate. Other schemes escape me, the essential point being that risk is distributed between loaner (who becomes more of an investor) and the one receiving the loan...or something like that...
Loans to individuals is just one of the many ways society invests in it future. Thanks to Sharia-infected minds, home loans and car loans become the only subject of discussion. And why not? Sharia is focused much more on death than life.
Bringing examples from a camel driven society to juxtapose Mullahs into 21st century life is so fraught with fallacies that no one can even imagine. And yet we have the Islamo-tinker thinkers giving fat-fat-fatwas on everything and every $hite.
21st century economy offers 1000's of different options to raise funds. Still the Islmo-tinker thinkers get stuck in the interesty-mud and refuse to come out of it.