Originally Posted By: kallog
...Lenders and borrowers do usually share the risk. Lenders who lend money for people to buy houses take the risk of the borrower being unable to repay it and the house's value dropping. Which is what happened a couple of years ago in America. Lenders lost money as well as borrowers. They both shared the risk.

With no interest at all, the borrower is taking no risk.
Kallog, please back up your opinion--and I respect all opinions, even when I differ--with some evidence.

Did you know that there are some American banks which do loan interest-free money? For example,
http://www.university-bank.com/index.html

I met, and chatted, with the president of the bank, above, at the founding convention of www.UFANA.org, here in Toronto.
Quote:
"The World Comes to Toronto: The Growth and Potential of Islamic Finance will be on display at:
TORONTO, February 26, 2010 Politicians, Bankers, Real Estate Agents, and members of the global financial community will convene in Toronto at the inaugural Usury-Free Association of North America (UFANA) conference on March 30th and March 31st at Sheraton Centre Hotel in downtown Toronto...."
Please keep in mind that interest-free does not mean cost-free. Also keep in mind that we are talking about a different system here. Costs are covered by fees and profits are earned as dividends. When done right--and any system can be corrupted by corrupt people--it is simply more transparent and less likely to be corrupt.

THE FAMILY LIFE FOUNDATION www.flfcanada.com as one of the advocates of good ethics, is also one of the founders of UFANA. I represent the FLF (Inter-faith & Christian) as one of the directors of UFANA. In addition, there are Muslim clergy, imams.

GOD IS LOVE (1 John 4:7-21)
Yes, it seems that Agape-love can build bridges to justice and peace.
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G~O~D--Now & ForeverIS:Nature, Nurture & PNEUMA-ture, Thanks to Warren Farr&ME AT www.unitheist.org