Dec 27, 2008

Islamic banks are generally doing better than most western banks. That is because the Islamic banks do not charge usury. They partner with those who ask them for loans to set up a business.

I suspect that where the Islamic banks have lost money is where they have invested in stocks from western countries that have been in debt up to their ears. Or perhaps because they are holding currency that is going down in value.

Anyway, this is a revealing article on usury:

http://georgewashington2.blogspot.com/2008/12/why-islamic-bankers-are-doing-better.html