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usury (noun) lending money at very high rates of interest.
Usury is the practice or profession of lending money at very high rates of interest. A usurer is one whose profession is money lending, charging unreasonably high rates of interest. Usury exploits the poverty of the borrowers. The poor borrowers go on paying interest only without ever being able to clear the principal amount of money.
- As Islam strictly prohibits usury, in some of the Muslim country, there is no banking system. As charging high rates of interest are considered a sin in these countries, banking is not allowed.
- Money lending is not by itself usury, usury means charging high rates of interest mercilessly.