Which is worse - Islam or Wonga?

[DodgyAgent]

It's a fair question but I think it's more complicated than that. You will find Muslims use banks, have bank accounts etc. Banks are necessary but the issue here is the true type of usury which several religions point to - Islam in particular.

I am sure the "modern Muslims" are not as against banking and the interest system as we might suspect - working in Barclays, I have learnt that. What they are against is this system of taking advantage of others by effectively multiplying loans. Mortgages, Loans etc are things which can be seen to be beneficial to society and are positive.

I don't think that this stance against Wonga is necessarily a bad thing? How about agreeing with them for a change and giving them a break! All we ever hear about them from the media is negative!

Edit: Also to add to that, I believe you will find many Muslim countries dealing in interest. A regulated form of interest is not the same as Wonga!

Wonga are regulated and their loans are pro rated at over 1000% when actually they are nothing of the sort. Most of their loans are for a maximum of two months and they only charge compound interest at 1% if the loans go over the alloted time. This takes their interest rates down to below 100%. I do not like it any more than anyone else but I understand why people need to use them because overdrafts and other small loans from banks are simply not available.

I will add that most of the loans seem to be paid back on time which shows that those who are borrowing are perfectly capable of making their own decisions.

[NorthWestPerm2Contr]

Wonga are regulated and their loans are pro rated at over 1000% when actually they are nothing of the sort. Most of their loans are for a maximum of two months and they only charge compound interest at 1% if the loans go over the alloted time. This takes their interest rates down to below 100%. I do not like it any more than anyone else but I understand why people need to use them because overdrafts and other small loans from banks are simply not available.

I will add that most of the loans seem to be paid back on time which shows that those who are borrowing are perfectly capable of making their own decisions.

Fine, all I am saying is we should respect the stance these guys might take. You might disagree with it but you can see how they perceive it as something immoral and unjustifiable.

[shaunbhoy]

I will add that most of the loans seem to be paid back on time which shows that those who are borrowing are perfectly capable of making their own decisions.

Linky??

I think your head has been turned by those foxy birds in the advert!! Or is it Earl?

[darmstadt]

It's a fair question but I think it's more complicated than that. You will find Muslims use banks, have bank accounts etc. Banks are necessary but the issue here is the true type of usury which several religions point to - Islam in particular.

Edit: Also to add to that, I believe you will find many Muslim countries dealing in interest. A regulated form of interest is not the same as Wonga!

But why are the Muslims up in arms about it? This is also against the rules that govern the Catholic religion so where's the Pope's stance on all this?

[Mich the Tester]

But why are the Muslims up in arms about it? This is also against the rules that govern the Catholic religion so where's the Pope's stance on all this?

[NorthWestPerm2Contr]

But why are the Muslims up in arms about it? This is also against the rules that govern the Catholic religion so where's the Pope's stance on all this?

That's a good question...... Maybe we should ask him or one of his reps.

[Fandango]

Newcastle United insist that the club will be unaffected by sponsorship deal with Wonga.com, Alan Pardew has said “the lads will still go out there and give it 4200%”

[DodgyAgent]

Newcastle United insist that the club will be unaffected by sponsorship deal with Wonga.com, Alan Pardew has said “the lads will still go out there and give it 4200%”

[NorthWestPerm2Contr]

Newcastle United insist that the club will be unaffected by sponsorship deal with Wonga.com, Alan Pardew has said “the lads will still go out there and give it 4200%”

[minestrone]

But why are the Muslims up in arms about it? This is also against the rules that govern the Catholic religion so where's the Pope's stance on all this?

I may direct you to Matthew 22:21

So the catholic church would probably have no issue with wonga.