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by 7Z7 3597 days ago
Maybe I'm misunderstanding you. But mortgages exist in lots of Muslim majority countries. Are you really suggesting that Muslims don't take on debt?

You can take out a mortgage in Saudi Arabia, Jordan, Bangladesh, Morocco.. They were the first four I checked.

2 comments

You can something similar to mortgage or credit in UAE as well, but being late on the payment has devastating consequences.

http://www.dailymail.co.uk/news/article-2194633/Luxury-high-...

It has consequence for enormous part of a life. For example, I was traveling using metro in Dubai. I had 5 dirham on my travel card and the trip I wanted to take costs 3 dirham. I couldn't enter the train, because the maximum charge is 8 dirham, so I could have negative balance.

GP is referring to the fact that interest is forbidden in Islam. However, you can still get interest-based loans in Muslim countries. They're just branded differently.
So GP's point is invalid than, no? Muslims take on debt and business loans regularly.