Comments by "XAUCADTrader" (@XAUCADTrader) on "Why Are Muslim Countries Poorer? - VisualEconomik EN" video.

Another big one is that they don't allow lending or making money from interest. It has to be by your own work and labour. They consider interest to be usury and unethical. The Western world and capitalism is completely reliant on interest, it's the most important variable in an economy.
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@mardbenzmura1446 It is, but through a large range of history, it wasn't. Even many are opposed to it. There's a lot of changes in banking practices in Muslim families. One of my buddy buys gold bars cuz he can't get anything that bears interest. I know the Ismali community runs their own community/family "banks" that don't lend at interest. There's an entire field of Islamic finance to make sure everything is Halal - Sukkuks as bonds with net present value of future interest flows tacked onto the bond price vs. a cash stream, etc. It's a big deal, some people are more pious, some aren't...Huge spectrum. But scripturally, it is a no-no if you want to be a purist, and many do. Religious purity is big deal for many.
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@TheTruth-cg8vj That's a good point. I'd be surprised if that nuance would have been captured by scriptures pre-Adam Smith / Ricardo / Irving Fisher...So not everyone adapted the interpretation.
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