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the Catholic Church
Actually the Catholic church has no problem with it, and even has banks and financial operations with which it makes income happily with doing it.
The charging of interest is absolutely not allowed under Muslim law.
Islamic banking refers to a system of banking or banking activity that is consistent with the principles of Islamic law (Sharia) and its practical application through the development of Islamic economics. Sharia prohibits the payment or acceptance of interest fees for loans of money (Riba, usury), for specific terms, as well as investing in businesses that provide goods or services considered contrary to its principles (Haraam, forbidden). While these principles were used as the basis for a flourishing economy in earlier times, it is only in the late 20th century that a number of Islamic banks were formed to apply these principles to private or semi-private commercial institutions within the Muslim community.
If you're googling answers for your homework and we're talking about the middle ages then the answer probably is the Catholic church.
What else can I help you with?
What do banks with some of the profits they make by loaning out the money?
pay interest on savings accounts
In what way are bondholders and banks similar?
In effect, these are both instances of an institution taking a loan from an individual. When you put your money into a bank, you are in essence loaning your money to the bank. They pay you interest on the money, and then they loan it out at a higher interest rate and keep the difference. Likewise, when you take out a bond you are in effect loaning your money to the government, which will pay you back with interest at a later time.
What term describes loaning money for a fee?
"Scam" If someone is loaning, they do not charge an upfront fee unless they are scamming you. Loans are paid back with interest, not an upfront fee.
Do Banks and credit unions earn interest on your money by loaning it to others?
Yes they do, as your money means nothing to them and they are crispy briefcase WANKERS
What do banks do with some of the profits they make loaning out the money in their customers saving accounts?
pay interest on savings accounts
What do banks with some of the profits they make by loaning out the money?
pay interest on savings accounts
In what way are bondholders and banks similar?
In effect, these are both instances of an institution taking a loan from an individual. When you put your money into a bank, you are in essence loaning your money to the bank. They pay you interest on the money, and then they loan it out at a higher interest rate and keep the difference. Likewise, when you take out a bond you are in effect loaning your money to the government, which will pay you back with interest at a later time.
What term describes loaning money for a fee?
"Scam" If someone is loaning, they do not charge an upfront fee unless they are scamming you. Loans are paid back with interest, not an upfront fee.
Do Banks and credit unions earn interest on your money by loaning it to others?
Yes they do, as your money means nothing to them and they are crispy briefcase WANKERS
What do banks do with some of the profits they make loaning out the money in their customers saving accounts?
pay interest on savings accounts
Which services do banks offer?
Banks offer investment opportunities. They also offer a savings account where you can invest your money in the bank itself so they can use your money to give people money in the form of loans. They give you some money back in the form of savings interest.
Why are banks willing to pay interest on their customers deposits?
Banks are willing to pay interest, because they are turning around and loaning that money out to other people for more interest. They still make money on the deal, and offering interest often attracts customers with larger stacks of money.
How does a bank make money from issuing money market certificates?
They make money by taking the money that you have deposited and loaning it out to another individual, business, or bank at a higher interest rate than they are paying you. For example, they may be paying you 1.5% interest and then loaning the money in a mortgage at 6%. This is true of all interest-bearing accounts. When a bank issues a money market certificate it pays interest to the certificate holder in exchange for the bank being able to keep the money for a specified amount of time. During the time that the bank is holding the money they invest it at higher interest rates, such as mortgage loans. The difference between what they earn on the investments and what they pay in interest is profit for the bank.
What does Usury mean?
As a general definition, usury is loaning money at extravagant interest rates. The legal definition varies. The practiced of lending money to people, especially making them pay unfairly high rates of interest.
How bank create money?
Money is CREATED by governments, not banks. They store money. Banks also EARN money by loaning money to people. People pay the banks back more money than they borrow (interest)
What best describes an activity of Dollar Diplomacy?
loaning money from foreign governments.
What does Scrooge do for a living?
Scrooge (and Marley, when alive) was a money-lender, charging high rates of interest. He started with very little. From a sign on his building it said Importer of fine goods and china. So he was an importer and then got into money loaning. He probably partnered with Marley as an importer loaning money was less risky and with higher returns.
