Muslim Friends: Islamic Banking - Are we cheating God?

The weight of evidence of Islamic scholars is against you. Some Islamic countries have outlawed interest altogether, and there is a fair amount of literature around [reference] that agrees with this interpretation. My own view is that this is one of the major things that Muhammad botched when crafting the Qur'an (there are others), and that the prohibition of interest meant exactly what it said; Muhammad was not privy, 1400 years ago, to what we now know about economics. It is obvious that the use of money is of value; otherwise, people would not seek to borrow it. If this value is not paid for on terms agreeable to the lender, the lender is being cheated.