::: vuaskari.com ::: USURY (sood) or Interest (Must comment plz)

There are a lot of confusion in our Muslim society about usury, interest rate, etc, I m also a lot confused, here are some points which require your personal and logical experience and knowledge according to the true priceless of Islam.

1. What is usury? In real meanings

2. What is the difference between usury and interest rate?

3. Islam permits us to deposit money and get fixed % rate on it? If yes than how and if no than also why?

4. Insurance policies are allowed in Islam?

5. Prize bond shares, saving coupons?

Normally it is considered that money generated from your money with out your personal effort or work is illegal and in Islam it is just like usury, most of the Islamic scholars declared banks profit which they share with their account holders is same as usury? Some of the Ulama has declared insurance and such other policies not allowed in Islam.

What do you think? What it should be, and how we can clear the concept?

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