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Monday, 2 November 2009

Maldives: Public considering bank interest as Riba

Minister of Islamic Affairs Dr Abdul Majeed Abdul Baaree has said that public has started to consider bank interest as Riba (usury, but literally means literally means increase, addition, expansion or growth.) and this was because Islamic scholars from abroad were brought to Maldives for religious sermons.

Minister Baaree said this speaking about different Islamic awareness programs initiated by the Ministry. He said since the last four years, a lot of work was done to advice people that bank interest was Riba but without any success until now. He added that sometimes when certain Bills are submitted to the People’s Majlis for debate, some Majlis members has advocated that if any bank issues interest than it would be considered as Riba and that this was the positive aspect of inviting foreign scholars for religious preaching.

Islamic Minister said that during the last year Pakistani scholars were invited to Maldives twice and they had spread awareness of Riba and they also spoke about the difference between modern and Islamic banking systems.

Minister Baaree said that they will continue to invite foreign religious scholars for special issues. Under their program of conducting religious awareness programs, he said that the ministry has so far published 3 books and more books will be published in the future.

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