Wednesday, July 9, 2008
Religion and Banking
Another sign of the role of religion in Maldivian society: Many Maldivians are opposed to making use of western-style banking as it is against their religion to collect interest. So it was big news when a Muslim bank decided to open its doors in the Maldives. This bank uses money only as a means of transaction investing in various products that they expect to make money. The government is a major shareholder.
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