Questionable Islamic banking principles
Sarawak DAP has the strong oppinion that Bank Negara Malaysia must immediately investigate the practice of banks charging interests on loans under the Islamic banking principles as this is tantamount to borrowing money from loan sharks.
Chong Chieng Jen, party secretary, states that taking the Islamic banking principles into consideration, a borrower who defaults on his loan payment would be charged future interests on the period of the loan, if, for example, it is a 30-year loan.
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