couls someone calirify this deal;

shichemlydia

Junior Member
salam alikoum dear brothers and sisters,
my question is;
we all know that RIBA in islam is haram, but if someone lends money for long period of times, as an example you lended money to someone in 1990 and he will give it back to you in 2011. how could the lender protect his money against inflation without harming the borrower and without going through RIBA.
jazakoum allah
wa salam alikoum
 

arzafar

Junior Member
^^^
1. abolishing interest.
2. replacing paper currency with valuable materials (gold, silver, copper).
3. basing paper currency against valuable material such as gold, silver.

1kg of silver in 2001 = 1kg of silver in 0001
there is inflation too with material things, since there is variation in production but that inflation is negligible.

I suppose all that is not doable in today's world so it's better to make sacrifice until muslims can establish their own worldwide banking/trading system. (cant see it happening)
 
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