Afghanistan bans usury

[Ancient lion]

After the Taliban seized control of the country, billions of dollars of Afghanistan’s overseas assets were stolen/frozen by the US Federal Reserve and central banks in Europe. The country has also been hit by the exodus of foreign aid, which previously financed three quarters of its public spending.

Despite these challenges, the Taliban continues to implement its economic policies, including the ban on usury, in an attempt to reshape Afghanistan’s economy. The impact of these policies on the Afghan people and the country’s economic future remains to be seen.

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"Nooruddin Azizi, the Acting Minister of Industry and Trade, has announced that under the governance of the Islamic Emirate, all usury systems in the country have been abolished.
He adds that the Islamic Emirate is committed to fulfilling all requirements of the Islamic system through lawful methods."

RTA reported

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The Islamic term for usury is “Riba”, which means excess, increase, or addition.

Riba is considered contrary to the philanthropic objectives intended for alleviating poverty and creating dignified channels of financial support for the less fortunate.

The ban on usury in Afghanistan is part of a broader effort to establish an economic system that aligns with the Islamic law.

 

[jwoodie]

The ban on usury is fake economics. Merchants simply provide cash discounts to avoid the appearance of charging interest on installment payments.

 

[Grumblenuts]

Not to be outdone, Britain soon.. wait,

By the mid-19th century, Britain had seen enough and the centuries’ long project of restricting interest was entirely abandoned. {source: Microsoft}

Ahem, the U.S.,

There is no federal regulation on the maximum interest rate that your issuer can charge you, though each state has its own approach to limiting interest rates.

State usury laws often dictate the highest interest rate that can be charged on loans, but these often don’t apply to credit card loans.

Sorry. Never mind

 

[Andrew_Jackson_FTW]

After the Taliban seized control of the country, billions of dollars of Afghanistan’s overseas assets were stolen/frozen by the US Federal Reserve and central banks in Europe. The country has also been hit by the exodus of foreign aid, which previously financed three quarters of its public spending.

Despite these challenges, the Taliban continues to implement its economic policies, including the ban on usury, in an attempt to reshape Afghanistan’s economy. The impact of these policies on the Afghan people and the country’s economic future remains to be seen.

----------

"Nooruddin Azizi, the Acting Minister of Industry and Trade, has announced that under the governance of the Islamic Emirate, all usury systems in the country have been abolished.
He adds that the Islamic Emirate is committed to fulfilling all requirements of the Islamic system through lawful methods."

View attachment 876077

RTA reported

----
The Islamic term for usury is “Riba”, which means excess, increase, or addition.

Riba is considered contrary to the philanthropic objectives intended for alleviating poverty and creating dignified channels of financial support for the less fortunate.

The ban on usury in Afghanistan is part of a broader effort to establish an economic system that aligns with the Islamic law.

It’s all very interesting but one thing I keep coming back to Muslims in Albania or Turkey, or even Saudi Arabia, where men and women can hold hands in public. Interfaith marriage is allowed in Turkey. ..And many say that this is the true Islam.

As a Catholic , if I see a Jew or Muslim tell Catholic men to “stay away from our woman”, there is no way I’ll ever even really wanna be in the same room as those types of people.

Anyways, women above the age of 13 can’t get an education in Afghanistan. I don’t think they allow interfaith marriage in Afghanistan. You know where else they don’t allow interfaith marriage…. Israel. I’m not gonna stand for that.

 

[the other mike]

After the Taliban seized control of the country, billions of dollars of Afghanistan’s overseas assets were stolen/frozen by the US Federal Reserve and central banks in Europe. The country has also been hit by the exodus of foreign aid, which previously financed three quarters of its public spending.

Despite these challenges, the Taliban continues to implement its economic policies, including the ban on usury, in an attempt to reshape Afghanistan’s economy. The impact of these policies on the Afghan people and the country’s economic future remains to be seen.

----------

"Nooruddin Azizi, the Acting Minister of Industry and Trade, has announced that under the governance of the Islamic Emirate, all usury systems in the country have been abolished.
He adds that the Islamic Emirate is committed to fulfilling all requirements of the Islamic system through lawful methods."

View attachment 876077

RTA reported

----
The Islamic term for usury is “Riba”, which means excess, increase, or addition.

Riba is considered contrary to the philanthropic objectives intended for alleviating poverty and creating dignified channels of financial support for the less fortunate.

The ban on usury in Afghanistan is part of a broader effort to establish an economic system that aligns with the Islamic law.

Socialism on steroids.