Legality and interest in the major world religions
Legality and interest in the major world religions

Summary/Abstract: Recent National Regulatory Framework from Law 216 of November 22, 2011, on the Prohibition of Usury in Business. Morality and the legality of the issue of usury are, however, deeply rooted in ancient times, with prohibitions against usury established in all major religions. Historical contexts and regional geography of principal economic forces have led religion and long-standing lending practices to coexist. Figures from ancient world cultures have taken stances against these practices, which, among other things, later influenced the attitudes of certain religious leaders. The three Abrahamic religions, in chronological order, Judaism, Christianity, and Islam, have numerous references of practical interest. Christianity has opposed these practices from the beginning, although some dogmas have been reinterpreted over time. In Islam, there is strong opposition to interest, and an economic phenomenon attracting more attention is the alternative to the current international banking system—Islamic banks.

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