Yesterday in the Friday prayer, our mosque cleric said that current financial crisis are because the western system doesn’t follow Islamic law in their banking system, and that affected all banks worldwide, he said Islam has discovered that 1400 years back!
He said Allah literally demolished some banks in US per this verse in (Quran 2:276):
“Allah will deprive usury of all blessing, but will give increase for deeds of charity; for He loveth not creatures ungrateful and wicked.”
I didn’t like his propaganda, because all the commercial banks here in SA are dealing with interest, you can’t take any type of loan unless you pay from 5% to 10% interest rate, so why this double standard, if one of the local banks here had filed for bankruptcy, would he say the same thing!
And of course he doesn’t know that usury is prohibited also in Christianity and Judaism before Islam:
“Take no usury or interest from him; but fear your God, that your brother may live with you.”
“If you lend money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him interest.”
“He who does not put out his money at usury, Nor does he take a bribe against the innocent. He who does these things shall never be moved.”