The Reality of Islamic Finance

Category Archives: Installment

Islamic Banking is NOT Islamic

by Tarek El Diwany | April 5, 2008 in Bank, Financing, Installment, Interest | Leave a comment

The contractum trinius was a legal trick used by European merchants in the Middle Ages to allow borrowing at usury, something that the Church fiercely opposed. It was a combination of three separate contracts, each of which was deemed permissible … Continue reading