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Historical context: Principles from the past guide usage in modern world

By Farhan Bokhari

Published: May 23 2007 03:15 | Last updated: May 23 2007 03:15

Those who gorge themselves on usury behave but as he might behave whom Satan has confounded with his touch; for they say: ”Buying and selling is but a kind of usury” – while God has made buying and selling lawful and usury unlawful. (verses from “Al Baqara” – the Koran)

Since the dawn of Islam, devout Muslims seeking to follow religious tenets more than 1400 years old have relied on verses from the Koran, the Islamic holy book, to press their case in favour of following only those financial principles which are permitted by religion.

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