An excerpt from Malek Bennabi's book "La démocratie en islam" (Democracy in Islam).
This is merely an imprecise translation I did myself.
The other principle that ruled the muslim economical life is the prohibition of interests.
That prohibition dictated all the attributes of the economic organization in the muslim world. It set on straight away its democratic character by preventing the creation of banks.
Hence, money didn't acquire the all-powerfulness granted by banks in countries where interests are practiced.
Interests indeed initiate the commercial and industrial monopoly - in a scale specific to each era - through banks, who realize the concentration of capital (namely, the distribution of money on a large scale).
Therefore, forbidding interests prevented, through a cascade of effects chaining in each other, the hold of money that weighs on advanced countries (to the point where some of them fought money's grip through revolutions).
This legislation limited the power of money and its influence on muslim countries' economic life and avoided this form of tyrannical economy.
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