05-25-2009, 03:06 PM
AOA, brother i agree with u.let me expain what is the answer of ur question. actually the question arises why interest is prohibited in islam.ISlam is not against just the word "interest" but its harmful consequences.In enteret system borrower is bound to pay back a predetermeined rate of return to lander regardless of the loss and profit is business. borrowers are bound to pay although they suffer loss. actually that is the reason islam does not allow interest due to that harmful consequence. And in interest free business, borrower is just bound to pay return in only case of profit. because according to quran niether lander and nor borrower are suffer loss. In case of loss, both will contribute according to capital or as per agreement.your investigation about the time value of money is satisfectory and acceptable but it does not as that interest is not prohibited in islam. still interest is prohibited in islam.but due to changing world business system and ever business changing environment and inflation, the worth of today's money is greator then the worth of money tomorrow. that is why there is possiblity of suffer loss to lenders and this is also againt quarn. so th concern i have about the solution of the probless, our olmas are help resposible to study time value of money and suggest this problem to follow quran.