However, the article you cited does not make that claim. It merely says that Erdogan is opposed to high interest rates because they are considered "usury" and are thus forbidden. This is different from saying that high interest rates cause inflation.

Do you have a different source specifically for the claim that the some people think Quran indicates that high interest rates cause inflation?

https://www.birgun.net/haber/erdogan-bir-musluman-olarak-nas...

this headline is the closest thing in it he says: '... and they are complaining about cutting the interest rates. Don't expect anything different from me. As a muslim, I'll continue doing what the religion/quran orders me to do. This is the ruling (of the religion).'

To be clear, I don't hold the position that Erdogan doesn't believe high interest rates cause inflation -- I don't know what he believes. I am just trying to find a source that backs up the parents' claim, if there is one.

As a straight up APY interest charge, yes. But there is an entire industry of "Sharia finance" that exists to circumvent these rules [0].

[0] https://www.investopedia.com/articles/07/islamic_investing.a...