09-27-2003, 01:58 AM
The point of view in saying that this is not like loan is right but the Goverment is paynig interest to holders of Treasury bills and from thier angle it is simply invetment with guaranted return at a specified rate which is prohibited in Islam.
So in my point of view the income from interest of Treasury bills is not alowable in Islamic Sharaih.
U can also read the lectures of Moulana Taqi Usmani on Islamic financing on this web site in the refrence section. They are really good and will clear most of ur questions on permissable modes of financing and genretaing income according to Islamic Laws.
So in my point of view the income from interest of Treasury bills is not alowable in Islamic Sharaih.
U can also read the lectures of Moulana Taqi Usmani on Islamic financing on this web site in the refrence section. They are really good and will clear most of ur questions on permissable modes of financing and genretaing income according to Islamic Laws.
