Turkish clerics defy 1,400 years of edicts with home loan U-turn
Turkey’s top Islamic authority is challenging 1,400 years of religious thinking, with a new ruling on the fraught topic of usury.
According to the High Board of Religious Affairs, interest on home loans doesn’t violate Islam’s proscriptions against usury as long as the loan comes from a Turkish state bank and goes to buy a home in a government housing project.
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