Macroeconomics 9th Edition by David Colander

Exercise 16

Islam considers the interest on loans to be an instrument of oppression of the poor by the wealthy.hat is why interest is banned by the Qur'an.n 2003, member countries of the Islamic Development Bank owed $883 billion in external debt and paid $14 billion in interest.
a.ow could loans be an instrument of oppression
b.ow could loans be an instrument of development
c.he Islamic Development Bank makes loans that remain within Islamic law.hat do you suppose are the conditions for those loans (You might want to look at its Web site at www.isdb.org for help.) (Religious)