Oman grand mufti hails Erdogan for slashing interest rates
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The grand mufti of Oman praised Turkish President Recep Tayyip Erdogan’s move to reduce interest rates in the country’s banking system, calling on all Muslim governments to follow his lead on this. His tweet referenced a quote by the Prophet Muhammad, in which he said anyone who is involved in dealing with interest rates “is cursed”. Many Muslim scholars argue that interest rates for loans are banned under the religion. “We salute the brotherly Turkish Muslim government, represented by its resolute leadership, in its direction to purify its economy from the abomination of high-interest rates, …

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