Why Do You Say Murbaha in Islamic Banks is Back Door Riba- Sheikh Imran Nazar Hosein 2011

[8trace]

yes, what if the rate of interest is equal to the inflation rate?

[rohi288]

How can we counter Inflation in todays Monetory system .The interest paid is to counter inflation?Pls explain

[PersonOfBook]

@rohi288 How can we counter Inflation in todays Monetory system .The interest paid is to counter inflation?Pls explain - The answer to your question is that the fiat currency is not islamic in the first place, as it can devalue at any time by any amount. An example of an Islamic currency would be for example a gold and silver currency which has an intrinsic value. If I give you 5 Kg of gold and ask for it 5 years later on, its fair, but that is not the case with fiat currency.