If you want to discuss "Religion and the Rise of Capitalism," maybe we could start a separate thread on that...
But as far as this thread goes, I think the author does make some interesting points. First of all, let me say that I don't think Protestantism is directly descended from Islam. For one thing, what is "Protestantism"? There are so many varieties of it that the term is almost meaningless. Nowadays, it means simply neither Orthodox nor Catholic. So perhaps the best thing to do for this discussion is to limit it specifically to Luther and his immediate followers and disregard the variants that appeared later.
That said, I don't think Luther was directly inspired by Islam, although there certainly would have been some discussion of it in the universities of his day. Many of the things that Luther believed or defended, either initially or eventually, such as polygamy, were typical features of other, earlier movements and did not come from Islam. The only thing I do wonder about is the "Sola Scriptura" current. That strikes me as something that might reflect a direct influence of Islam and its approach to its texts. Or did it come from somewhere else? I don't recall it's having been part of any other earlier movement in Christianity.
Okay, here's a "point."
What do you get when you ignore everything not found in the Bible? Fundamentalism. Christian Fundamentalism, to be exact.
Why, who are they? Presbyterians, Baptists, etc... Protestants all.
So you see, this one "point" in the article is flatly false.
Further, to compare Islamic Fundamentalism to Christian Fundamentalism is simply insane. We don't even worship the same God.
Doubtful, since Islam doesn't require Muslims to understand the Koran & translation into any language from the original Arab is frowned upon. The idea is to recite the book in Arab & Allah will do the rest.
Then there are the side books about the life of Mo, so the faithful can model their lives after him. When Muslims want to know how it all applies to something, they get a ruling about it (fatwa) from a Muslim scholar.