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Muslim student leaders say changes to tuition fees in England could breach Islamic rules on finance, which do not permit interest charges.
Originally posted by Wide-Eyes
So, the Muslims are kicking off about the tuition fee hikes ....
The word "Riba" means excess, increase or addition, which according to Shariah terminology, implies any excess compensation without due consideration (consideration does not include time value of money). The definition of riba in classical Islamic jurisprudence was "surplus value without counterpart", or "to ensure equivalency in real value", and that "numerical value was immaterial." During this period, gold and silver currencies were the benchmark metals that defined the value of all other materials being traded. Applying interest to the benchmark itself (ex natura sua) made no logical sense as its value remained constant relative to all other materials: these metals could be added to but not created (from nothing).
Applying interest was acceptable under some circumstances. Currencies that were based on guarantees by a government to honor the stated value (i.e. fiat currency) or based on other materials such as paper or base metals were allowed to have interest applied to them. When base metal currencies were first introduced in the Islamic world, the question of "paying a debt in a higher number of units of this fiat money being riba" was not relevant as the jurists only needed to be concerned with the real value of money (determined by weight only) rather than the numerical value. For example, it was acceptable for a loan of 1000 gold dinars to be paid back as 1050 dinars of equal aggregate weight (i.e., the value in terms of weight had to be same because all makes of coins did not carry exactly similar weight).
Originally posted by Wide-Eyes
So, the Muslims are kicking off about the tuition fee hikes but are the British people in general?
Originally posted by weemadmental
well they can promote their Islamic laws in their own bloody country, this is the UK, if they don't like or want to follow our rules or practices they are welcome to pick-up sticks and go somewhere else.
Originally posted by oozyism
reply to post by Wide-Eyes
It seems Muslims are the only group of people who are actively involved in politics, and who are actively use their rights to make changes.