![]() ![]() ![]() It is a fact of life that despite the severe condemnation of interest in Islam, Muslim societies were unable to keep away from interest-based transactions when modern banks appeared on the scene. The international banking system discourages trade through embargoes and encourages interest. The modern banking system is, in fact, the representative of the very evil of interest, which through exploitation, and extortion sucks the blood of mankind and by creating inflation it breaks the backbone of man’s economy. Commercial banking as we find it today had evolved over time and has become a stable institution with commonly understood practices accepted all over the world. The Hidden Agenda Of ‘Interest’ Versus ‘Profit’īanks are an essential component of the present day world-individuals as well as public and private institutions can hardly operate without the institution of banking. The Hidden Agenda of ‘Interest’ Versus ‘Profit’
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