Interest-free Islam
Iran will introduce in-terest-free banking in accordance with Islamic law in four months’ time, its central bank governor has said. The governor, Mohsen Noorbakhsh, said rules, under which all banking operations would be based on Islamic contracts and transactions, without interest being paid or received, would be introduced. Islamic banks use a variety of methods to avoid dealings involving interest, such as taking equity stakes in projects which they help finance, and sharing profits with their depositors.—London.
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Press, 29 February 1984, Page 20
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79Interest-free Islam Press, 29 February 1984, Page 20
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