Revolutionizing Finance: Eliminating Loan Interest for Economic Development
The article explores ways to finance economic development without charging loan interest. It discusses radical and moderate methods, such as using "free money" concept and adjusting banking activities based on Islamic and Orthodox principles. The study concludes that using "stamp scrips" at a macro level and eliminating loan interest in Islamic and Orthodox banking systems are not feasible. Instead, further development of credit cooperation and non-bank financing methods is needed to replace traditional bank lending.