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Personal loan
Why You Must Never Charge Interest On Loans
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[QUOTE="Kingsley, post: 185099, member: 30278"] This is indeed very interesting, on one hand it sounds so right to change interest on loan because if we consider the fact that these loan organizations also employ staffs and they also have maintenance cost and running cost and all these expenses will be borne by the loan organization, where do we expect them to raise the funds to service this expenses if not from the interest they will generate from the loan. So again no body will wants to run a business without making profit as that is the objective of every business owner. But on the second hand looking at the topic from a religious perception there is somewhere in the bible and Quran where it is stated emphatically that we shouldn't charge interest on loans in this regards it seems religiously wrong to charge interest on loan and I stand with the religious perspectives. This is where the government will need to show support for small and medium scale business to support them so that they will not get themselves entangled with this loans that away their hard earn profits. [/QUOTE]
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Why You Must Never Charge Interest On Loans
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