Property Investment and Finance 09: Interest & Culture

The cultural beliefs of several cultures are reviewed regarding the charge of interest on money loans.
The ancient Hebrews, Islam and pre-modern Europe considered the charge of interest on money loans as immoral and even as a weapon of oppression.
Despite how odd this position appears to the modern Western mind, Islamic finance, which goes some distance to embodying rejection of interest charges (riba) is proving an extremely effective alternative financial system. It may even be more robust than the Western approach.