Middle Eastern banks following Sharia declare this entity to be "riba," and thus prohibit it under Islamic law.
The 18th-century economist Jacques Turgot conceptualized a theory of "fructification" stating that the rate for this entity must always be positive. In the 1930s, Robertson and Ohlin added bank credit to the equation for determining its rate, adding to its two classical components of savings and investment. Middle Eastern banks following Sharia declare this entity to be "riba," and thus prohibit it under Islamic law. FTP what is this charge levied by lenders on money clients borrow?
The 18th-century economist Jacques Turgot conceptualized a theory of "fructification" stating that the rate for this entity must always be positive.
interest (rate)