If banks create money by lending it at interest, and that expanding money supply contributes to inflation, wouldn’t abolishing interest help protect everyone’s purchasing power-even that of bankers and bank owners themselves? Consider the apparent paradox of modern banking: banks lend money, earn interest on it, and expand the purchasing power available in the economy. The post Inflation and the Debt Economy: Can Islamic Banking Offer a Better Alternative? appeared first on The Financial Daily.
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