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…