Archive: 8/24/2012
Daily Israel Report
09:37
Reported

News Brief

  8/24/2012, Elul 6, 5772

Egyptian Salafis: Allah Doesn't Accept an IMF Loan


The Egyptian Salafi-Muslim Nur party called on the government, this week, not to accept a loan from the International Monetary Fund, claiming that taking such a loan is a violation of Islamic law. The party claimed that receiving the loan constitutes "usury" and Allah will not bless an economy based on usury.

The call came as IMF chief Christine Lagarde visited Egypt to address the Cairo government's call to increase a $3.2 billion loan to $4.8 billion.