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My Say : When risk is a four-letter word
Written by Zahid Aziz Monday 17 January 2011
This article appeared in Forum page of The Edge Malaysia, Issue 841, Jan 17-23, 2011
The objection of Islamic Syariah to riba has never been about the size of the interest charged. It is also not confined to consumption loans; it is prohibited also to investment loans.
Investment loans, isn’t that a misnomer in the first place? How could an investment be a loan, and how could a loan be an investment? That is the objection of Syariah to riba, an investment cannot be a loan, and a loan cannot be an investment. But we have accepted the fraud and spun it that a loan is an investment without question. For how else could we have agreed to a guaranteed return to someone who has lent us capital?