Cash ISAs: The Best Currently Available List

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81999937#Comment_81999937

Don't think it's a 'pretense', they are an Islamic bank that generates profits by Sharia Law-compliant trading and investing in assets. Doesn't 'turns out' or 'seems to be' that they are not lending - lending is not forbidden, lending to obtain a benefit is forbidden.

p1ston

Let's see how many somersaults you're going to make in explaining that profit does NOT equal benefit.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81999992#Comment_81999992

I have no need to attempt somersaults, I'm not the one who is having problems with the concept of Sharia-compliant finance.

If it is troubling you (and it clearly is) then don't engage with them. Plenty of for-profit institutions to place your money with.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81999992#Comment_81999992

Profit does equal benefit. But there is no requirement not to benefit. The requirement is to invest rather than lend.

p1ston

https://forums.moneysavingexpert.com/discussion/comment/82000012#Comment_82000012

But @flaneurs says there is a requirement not to benefit.

Now it's required to invest.

I'm counting 2 somersaults already.

masonic

https://forums.moneysavingexpert.com/discussion/comment/82000021#Comment_82000021

No, @flaneurs_lobster says "lending to obtain a benefit is forbidden". For the hard of thinking, that requires both a benefit and lending. If lending is not occurring, then there can be a benefit.

I agree that some somersaults are being performed in twisting the words of other forumites, so I would just ask that you refrain from that in future.

p1ston

"If lending is not occurring."

Just so that I can refrain, up here's the actual quote.

You're actually saying this bank is NOT lending.

One more.

dlevene

What a really weird thing to get so upset about, also nothing to do with the topic of best Cash ISAs

p1ston

"It's not a contortion, it's a shift from a debt-based arrangement to an asset-based one."

In the very sentence in which you say it's not, you introduce yet another contortion.

I've lost count.

p1ston

https://forums.moneysavingexpert.com/discussion/comment/82000128#Comment_82000128

You said it. It is weird. I'm moving on.