Could someone list the good and bad affects of interest on society.I also want to know what other religions say about Usury(or interest).
2007-02-12 05:13:57 · 3 answers · asked by Maxood 3 in Society & Culture ➔ Religion & Spirituality
Usury / Interest is forbidden in Islam.
It is obviously bad if it is forbidden.
The giving and taking of interest removes the blessing from wealth.
The poor in the community, who are the ones who normally borrow money for necessities, are negatively affected.
There are other negative effects as well.
2007-02-13 01:09:43 · answer #1 · answered by mystery woman 4 · 0⤊ 0⤋
In 1290 all the Jews were expelled from England for 300 years for practicing usury (at exorbitant rates) some were arrested hanged and their property was confiscated
2007-02-12 13:30:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
This was something I wanted to ask today also and you beat me to it. :)
Will be watching for the answers.
It is interesting to note that usury was a sin in both the old and the new testament. Not much of that argument is being practiced today I reckon.
2007-02-12 13:16:51 · answer #3 · answered by Antares 6 · 1⤊ 0⤋