When is usury usury? Turkish fatwa casts doubt on Erdogan’s religious soft power drive

By James M. Dorsey

Turkey’s state-controlled top religious authority has conditionally endorsed usury in a ruling that is likely to fuel debate about concepts of Islamic finance and could weaken President Recep Tayyip Erdogan’s efforts to garner religious soft power by projecting Turkey as a leader defending Muslim causes.

The ruling, issued by the Directorate of Religious Affairs or Diyanet that is part of Mr. Erdogan’s office, stated that interest-based home…

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