Comments on: CNBC World – Islamic Finance: Applying religion to economics

By: marwahmahmod

marwahmahmod — Sun, 07 Feb 2010 02:47:03 +0000

If that were the case, then Shariah law would have allowed muslims to charge non muslims interest but would not charge muslim borrowers any. Thats the point though, it doesnt. Islam doesnt allow for a Muslim to take or give interest to a Muslim or a non Muslim.

By: oratorspeaker

oratorspeaker — Sun, 07 Feb 2010 01:49:52 +0000

what the fuck?what next christian , buddhist , hindu , jewish banks anyone?

By: sherifhab

sherifhab — Sun, 07 Feb 2010 00:56:56 +0000

hhhhhhhhhhhhh
there will be nothing but Islam
ONLY ISLAM CAN DO IT

By: RedSeaCoral

RedSeaCoral — Sun, 07 Feb 2010 00:55:46 +0000

not really, you see jewish banking is something you already have, its that market where you have huge intrest and usery where people are ripped of and greater unfair prevails. budhists dont revel in money and finance,muslims however do and are quite ethical about it

they dont believe in making money on other peoples expense and so therefore incorouage fairness and trust. no intrest is involved so that means a win win situation for both parties in the transaction

thats why its so popular

By: RedSeaCoral

RedSeaCoral — Sun, 07 Feb 2010 00:40:27 +0000

if we didnt have the current banking system and went for a non intrest finance such as islamic finance non of us would probably be in this economic crisis.

some of you islamophobes might hate to see the FACT that islam is actully doing something right for you, but please help urselves, bite the bullet and acknowledge the benifit this market has offered thousands if not millions of people around the world.

if it wasnt for shairah complient finance alot of people would have no hope.

By: hamidmushtaq

hamidmushtaq — Sun, 07 Feb 2010 00:36:14 +0000

I don’t think, Islamic banks are really following Islam. Had they been following Islam properly, they would not be earning so much!

By: hamidmushtaq

hamidmushtaq — Sat, 06 Feb 2010 23:50:13 +0000

I’m a muslim, I’m against banking overall. In my opinion, banking cannot be islamic and Islamic Banking is indeed a back door to riba.

By: josg11

josg11 — Sat, 06 Feb 2010 22:57:57 +0000

i think there can be islamic banking but most of the examples now are using riba

By: hamidmushtaq

hamidmushtaq — Sat, 06 Feb 2010 22:49:12 +0000

I don’t think that banking can ever be islamic just like prostitution, gambling or drinking can never be. Banking is inherently unislamic. Islam encourages giving loan (interest free), but discourages taking loans. But what all banks do is to encourage people on taking loans because they make profit from it. Islamic banks all depend upon deferred payment, which is also a form of loan. The solution is to introduce gold and silver dinars and get rid of fiat money! (continued…)

By: hamidmushtaq

hamidmushtaq — Sat, 06 Feb 2010 22:38:18 +0000

(cont…) fiat money has no intrinsic value while a gold coin has! we should abolish interest all together and baitulmaal (house of wealth) should be established at government level, which lends people at no interest for business purposes. Banks should be there to only protect people’s money and transfer money. Lending business should not be commercialized!