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by chupchap 15 days ago
> ban interest-based loans to private individuals

LOL, read up on how baking and loans in Islamic countries work. Banks buy whatever you want and then sell it to you partially at a higher rate. The customer then pays a rent for the portion owned by the bank till the principle is paid off. No interest charged technically, but effectively they do pay; except it is now kosher/halal. We humans use language to work around every such restriction by debating on the literal meaning of any such religious restrction.