Connect with us

Politics

Grand Mufti of Oman hails Erdogan for lower interest rates, urges Muslim countries to follow suit

Published

on

 


The Grand Mufti of Oman, Sheikh Ahmed bin Hamad Al-Khalili, hailed Erdogan for the interest rate cut and urged all Muslim governments to follow his example.

The Grand Mufti of Oman hailed Turkish President Recep Tayyip Erdogan’s decision to cut interest rates in the country’s banking system, calling on all Muslim governments to follow his example.

His tweet referred to a quote from the Prophet Muhammad, in which he said that anyone involved in dealing with interest rates “is cursed.”

Many Muslim scholars argue that interest rates for loans are prohibited by religion.

“We salute the brotherly Turkish Muslim government, represented by its steadfast leadership, in its direction of purifying its economy from the abomination of high interest rates, which God has cursed at its recipient and sender, whoever registers it and both. witnesses to the transaction, ”Mufti Sheikh Ahmed bin Hamad Al-Khalili tweeted on Saturday.

“We call on all Islamic governments […] cooperate on this, ”he added.

He called on the Organization of Islamic Cooperation to “adopt this project with determination and diligence” to target a purely Muslim financial system.

The Grand Mufti of Oman has made a number of controversial comments in the past, including calling for an alcohol ban in the sultanate and praising the Taliban for their takeover of Afghanistan.

The Turkish lira fell to a record low against the dollar on Thursday after the central bank cut interest rates for the third month in a row following pressure from President Recep Tayyip Erdogan.

The bank lowered its key rate from 16% to 15% despite rising inflation and the rapid depreciation of the currency.

The besieged pound, the worst performing emerging market currency in 2021, fell to an all-time low of 11.30 against the dollar, but subsequently reduced losses.

Erdogan, a declared opponent of high interest rates to promote investment and economic growth, on Wednesday called for a rate cut.

“As long as I am in this position, I will continue to fight against [high]interest rate, I will continue to fight inflation, “he said.

“We will take this interest rate problem off the shoulders of the people. We will never let our people be oppressed by interest. [rates]. “

In a speech to members of his parliament from the Justice and Development Party (AKP), Erdogan also justified his decision with a verse from the Qur’an which formally prohibits charging interest.

“I cannot support those who defend interests,” he said.

Erdogan, who in the past fired a number of central bank governors, is known for his unorthodox belief that high interest rates cause inflation instead of controlling it.

Conventional economic theory asserts that the exact opposite is true.

Erdogan once called interest rates “the mother and father of all evils.”

Sources

1/ https://Google.com/

2/ https://english.alaraby.co.uk/news/oman-grand-mufti-hails-erdogan-slashing-interest-rates

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]