Companies Accommodate Islamic Prohibition on Interest

July 5, 2001

Source: The New York Times

On July 5, 2001, The New York Times reported that "many observant Muslims and experts in Shariah, or Islamic law, do not agree whether [the Qur'an's prohibition on usury] bans any interest at all or only excessive interest...A growing number of Muslims...are seeking an alternative that adheres to the stricter interpretation of Islamic law."