Re: Re: India to get its first Islamic bank
by sarfaraz on Feb 04, 2011 04:26 PM
My Dear friend Islamic banking is a banking methodology. and for your kind information there is Islamic share trading also carried out and is a big success and used by every India not just Muslim. And if you are not aware islamic banking is more successful than traditional banking all across world. and anyone can use the facility for his day to day banking activites. It is not restricted to Muslims only. And it is found that Islamic banking give u more returun on ur savings than normal banking does. So rather than doing Hindu muslim or BJP congress, should think of progress we are to get with it. rather we are quite late on it. Many super powers are using Islamic banking since long..
Re: Re: India to get its first Islamic bank
by sarfaraz on Feb 04, 2011 04:26 PM
My Dear friend Islamic banking is a banking methodology. and for your kind information there is Islamic share trading also carried out and is a big success and used by every India not just Muslim. And if you are not aware islamic banking is more successful than traditional banking all across world. and anyone can use the facility for his day to day banking activites. It is not restricted to Muslims only. And it is found that Islamic banking give u more returun on ur savings than normal banking does. So rather than doing Hindu muslim or BJP congress, should think of progress we are to get with it. rather we are quite late on it. Many super powers are using Islamic banking since long..
Re: confused
by Sachin Purohit on Feb 04, 2011 03:40 PM
The bank does not charge interest. It takes a share of the profit earned by the borrower. In case of a loss, it is banker's risk, not that of the borrower. This way, banker will have to be more diligent while giving the loan. He does not have any claim on the assets except when the business itself decides to liquidate. Banker won't force liquidation in case of default.
Re: Re: confused
by pabagu on Feb 04, 2011 03:45 PM
In such a case, it might promote entrepreneurship. The entrepreneur has nothing to lose if the enterprise fails. On the other hand the may not give loans to unproven budding entrepreneurs. In that way it actually negative.
Re: Re: Re: confused
by Sachin Purohit on Feb 04, 2011 03:50 PM
So that's like you investing in IPOs. If the project plan makes sense even in unproven, there may be venture capitalists willing to pour in the money.
Re: Re: Re: Re: confused
by pabagu on Feb 04, 2011 03:54 PM
the system is also risky for the investors. They will get some return only if the business that the bank lends money to does well. so the system may not take off in the presence of other options.
Re: Re: Re: confused
by Sachin Purohit on Feb 04, 2011 03:55 PM
Not sure how it would work out for depositors. Also because of uncertainty in income, the bank may need to make more provisions for bad times and bank-run scenarios.
Re: Re: Re: Re: Re: confused
by Sachin Purohit on Feb 04, 2011 04:09 PM
Except that I think banker's stake does not get traded. So there may not be a domino effect like the one that caused sub-prime crisis. On the other hand, in the usual banking system that we have, the loan assets created are bundled up and bought/sold amongst bankers as complex derivative products. If the underlying loans default, it sends the entire world's banking system into a tailspin.
Re: hahah
by mohammed arif on Feb 04, 2011 03:39 PM
dont worry there is high security for that. Loans given for property or other things are registered on banks name but U need to pay a little extra than market value. At same time U dont have any late payment defaults
Re: Re: hahah
by suman khan on Feb 04, 2011 03:42 PM
Check govt. of bangladesh. They are investagating role of islami bank in Bangladesh . They are patronizing islamic terrorism.
Re: Re: Re: Re: Re: hahah
by knightriders on Feb 04, 2011 05:07 PM
Suman ...is your father is Khan?? You are Hybrid? My dear RSS fanatic write it on your own name..
Re: Re: Re: hahah
by knightriders on Feb 04, 2011 05:06 PM
Bangliii are not following rules & regulation of islamic banking. They are lending for interest
