ANSWERS: 1
  • What "Islamic economic system"? Do you refer to Islamic juris prudence that is 500 years behind the western world in most respects? Or are you concerned with riba (usury) among classical jurists of Islamic law? It is unlawful to charge interest to fiat money that it is not riba and is therefore acceptable to apply interest except to fiat money. This is actually a good idea as it would reverse our suicidal fascination with currencies that have no intrinsic value. The west, aside from its central banks, needs to restore gold and silver standards so that central banks and governments are no longer allowed to manipulate the value of currencies.

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