Sunday, January 3, 2010

Reality

Differentiating: Trading, loaning and leasing

  • Return by way of pricing of goods and their usufruct needs to be fixed: permissible.
  • Islamic banking is also a business, It does not mean availability of cost free money.
  • Repayment of debts is must.
  • Time value of money is accepted to the extent of pricing of goods but not in the form of conventional opportunity cost concept.

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