Quote from: bobos15 on June 17, 2014, 01:24:38 PM

A similar attitude to the interest retained and Islamism. It is even suggested that the Qur'an clearly rejected the use of interest rates (what surah can this writing I do not know - as indeed all religious books are open to interpretation).

Without any compensation, why would a lender lend his money?
Whether you call it interest or any other name, this compensation is the foundation of our banking sector.

Even in Islamic banking, there is some compensation which is paid to the lender.

http://en.wikipedia.org/wiki/Islamic_banking

In an Islamic mortgage transaction, instead of lending the buyer money to purchase the item, a bank might buy the item itself from the seller, and re-sell it to the buyer at a profit, while allowing the buyer to pay the bank in installments.