Studying Islam

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[quote]Salaam

[quote] What do you think is the difference between these two situations:

1) You go to bank and borrow money to buy a car, then you make monthly payments to pay off what you owe, plus you pay monthly interest. The interest is the fee of borrowing the money.

2) You go to the bank and bank buys the car. You use the car and pay the bank monthly amount so you gradually pay off what the bank paid to the car dealership. Plus you also pay a monthly amount which is a fee for using the car that belongs to the bank. [/quote]

My understanding (after speaking to many arab speaking) is that word Riba does not specifically mean interest but refers generally to any thing which is unjust. Therefore whether todays interset practiced by the banks etc constitutes as being unjust or not is debatable. However the so called Islamic banking is simply a con trick and if you look at the end result any individual borrowing money via the so called islamic system ends up paying back far more than under the orthodox banking system. Hence you could argue that so called Islamic banking system operators are practicing Riba.

regards[/quote]

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