I do not agree with this Islamic bank concept. have you ever heard a Hindu bank, or a Jews bank, a Sikh bank, a Christian bank for that matter? it is ridiculous.
Re: bank based on religion is non-secular...
by Maximus Meridius on Feb 04, 2011 09:46 PM
It's a money making racket, like any other. It is taking advantage of the programming that muslims have been subjected to, that is getting paid interest is bad. So, you have a captive market of people who don't have to be offered competitive interest rates. Basically, Islamic banking, instead of charging interest, they pay/charge you a percentage of profit/commission. For some reason, as long as you don't call it interest, it is not interest. In this day and age, where inflation eats away at the buying power of your money, not being able to get interest on your savings is like giving money away for free. At the very least, you need to consider that aspect. (Inflation during the gold standard era was low). But as an American businessman once said, a sucker is born every minute.
This tactic was used by the Medici in Medieval Italy to get around Rome's usury laws (like Muslims, medieval christians were also not allowed to charge interest on loans. That was a jewish thing). The Medici instead charged/paid commissions for currency conversions (you took a loan in one currency, paid it back in another and a commission was ostensibly charged on the conversion).
Re: bank based on religion is non-secular...
by sherin suzkin on Feb 04, 2011 09:27 PM
Mr. shaheen khan..you cannot say something ridiculous only because you dont know it.Islamic bank is a bank which follows Islamic way of money transaction,loan..etc without taking interest.it has got nothing to do with religious fanaticalness.
Re: Re: Re: bank based on religion is non-secular...
by Yasir Ahmed on Feb 04, 2011 09:53 PM
to believe in the light, u need to see the light, mr. nair
Re: Re: Re: Re: bank based on religion is non-secular...
by Ramakrishna Rao on Feb 04, 2011 09:58 PM
yes,seeing dark ,do not think its light,islam and its banking is similar to dark .
Re: Re: bank based on religion is non-secular...
by shaheen khan on Feb 08, 2011 11:16 PM
enlighten us on how such bank survive without taking interest? it can become a case study for management institutions world wide.
Re: Re: bank based on religion is non-secular...
by Ramakrishna Rao on Feb 04, 2011 09:56 PM
its u who do not know.the word interest is substituted with profit.other wise its no different
Re: bank based on religion is non-secular...
by Yasir Ahmed on Feb 04, 2011 09:51 PM
There is no Hindu or Jewish or Sikh or Christian system of banking. Do you know why ? - Because these religions do not offer a comprehensive SYSTEM of banking. The scriptures of these religions do not discuss economics or a way to conduct banking. ISLAM is the only faith to speak in detail about every aspect of running a bank. This is not a Muslim bank. This is an Islamic bank - it is a SYSTEM.
Re: Re: bank based on religion is non-secular...
by Ramakrishna Rao on Feb 04, 2011 10:00 PM
u donot know basics, iam actually in working in S.A dealing the same .its sheet nonsence.just word interest is substituted with profit,nothin else.
The Post Office of India observes the following Official Holidays.
The Population of India is 80 % Hindu. So, by the Law of Proportional Representation, 80 % of the Public Holidays should be Hindu Holidays. yet, the Post Office observes 4 Islumic Holidays, but ONLY TWO HINDU Holidays !!!!!
MMS : "The Nation's Minorities shall have First Right to the Nation's Resources."
KSIDC is Kerala State Industrial Development Corporation which wants money to develop industries in the state; I request all the opposition people here not to bark but lend interest free money to KSIDC for indefinite period;That will show how strong you are to stop; I am sure once they get that they wont be interested in supporting such banks; Ok please tell me now how many 'maiKaaLaal' are there..
Re: will islamic bank follow RBI RULES? OR AREBIAN RULES?
by Zeeshan on Feb 04, 2011 07:53 PM
KSIDC and high court are fools, only you are intelligent. how can someone even think of applying to start a bank without keeping RBI guidelines in mind?
Re: Re: Re: will islamic bank follow RBI RULES? OR AREBIAN RULES?
by Zeeshan on Feb 04, 2011 07:58 PM
In Business there is something called "opportunity"
Islamic Banking is growing at a rate of 10-15% per year and with signs of consistent future growth.[12] Islamic banks have more than 300 institutions spread over 51 countries, including the United States through companies such as the Michigan-based University Bank, as well as an additional 250 mutual funds that comply with Islamic principles. It is estimated that over US$822 billion worldwide sharia-compliant assets are managed according to The Economist
Re: Re: Re: Re: will islamic bank follow RBI RULES? OR AREBIAN RU
by surya das on Feb 04, 2011 09:31 PM
YEs f00l like u had seen similar opportunitues with East India Co.
Re: Re: Is there a Hindu Bank in India?
by Maximum on Feb 04, 2011 07:15 PM
In hindism Money is given interest is taken Not like others where money is snatched or Robbed
Re: Re: Re: Is there a Hindu Bank in India?
by Oye Kake on Feb 04, 2011 07:17 PM
Snatching money or robbing money leads to the chopping of hand in Islam
Re: Re: Re: Re: Re: Is there a Hindu Bank in India?
by Oye Kake on Feb 04, 2011 07:51 PM
On Judgement day three types of person will be called for trial first 1> King 2> Priest who preach religion 3> Rich man
They will have to justify their power and if proven guilty will be thrown to the hell-fire; That is the place where King have to justify their attrocities, priest have to justify their so called call for Jihaad and rich has to justify their proper earning and spending;
Re: Re: Re: Re: Re: Is there a Hindu Bank in India?
by Oye Kake on Feb 04, 2011 07:46 PM
If he has done mistake and did not got any punishment here than his hand would have been chopped every day as a punishment in grave;
And yes this is for those who believes; if you dont believe you are free to do any thing;
Re: Re: Re: Re: Re: Is there a Hindu Bank in India?
by this that on Feb 04, 2011 07:54 PM
KEEP IT UP. HITTING OTHERS IN THE WORLD CAN NOT BE ACCEPTED BECAUSE LATER THERE WILL BE PUNISHMENT IN THE AFTERLIFE.
Re: Re: Re: Re: Is there a Hindu Bank in India?
by M Yahya on Feb 04, 2011 08:43 PM
Kyu Babar say kya dushmani hae India earning lot on tourism and the tourisim is based on wat Mughal Gifted so many huge architecture to India if there is a government than its natural there people who oppose so wat he did to u let all us know
Re: Is there a Hindu Bank in India?
by Oye Kake on Feb 04, 2011 06:47 PM
Hindu bank could be established if you prove that there is a religious binding on spending or earning or lending money specified in the hindu scriptures which most of the hindus follows
Re: Re: Is there a Hindu Bank in India?
by Maximum on Feb 04, 2011 07:16 PM
Only fools require rules intellectual require guidelines Rules are mainly made for culprits who harm others and dont enjoy social behavior
Re: Re: Re: Is there a Hindu Bank in India?
by Zeeshan on Feb 04, 2011 07:48 PM
Dialogue mat maar maximum. Rules and guidelines both are weak. civilized society requires something called LAW
Re: Re: Re: Is there a Hindu Bank in India?
by Oye Kake on Feb 04, 2011 07:22 PM
Go and tell this to those money lenders who squeezes the poor and send them to hell in this world only; Rules are give so that accountability will be question against these rule in the afterlife its not only to bind you;
Re: Re: Re: Re: Is there a Hindu Bank in India?
by this that on Feb 04, 2011 07:41 PM
YOU REALLY DONT DESERVE TO BE IN INDIA. ENJOYING SECULARISM AND BERATING MAJORITY.
Re: Re: Re: Re: Re: Is there a Hindu Bank in India?
by this that on Feb 04, 2011 07:57 PM
TEMPLE BREAKERS DECIDING THE BEAUTY OF COUNTRY IS A CONTRADICTION
Re: Re: Re: Re: Re: Is there a Hindu Bank in India?
by Oye Kake on Feb 04, 2011 08:06 PM
@thisthat - you should know that I am among you but I accepted this coz I felt better; You didnt coz you felt that good so I dont have any problem with that; Any way 700 years of Muslim rules if they would have started breaking temples and started forcibly conversion let me know how many temples would have survived and this date the population ratio would have been reversed.Look at the Xtian countries all with full majority;
Re: Re: Re: Re: Re: Is there a Hindu Bank in India?
by Oye Kake on Feb 04, 2011 07:54 PM
@thisthat The country which got divided on the base of religion are the neighbours and we see their status now; India got splitted from them and continued to be a place for all religion - a unique in the world; whose beauty people like you wanted to finish
Re: Re: Re: Re: Re: Is there a Hindu Bank in India?
by this that on Feb 04, 2011 07:49 PM
THE COUNTRY WAS DIVIDED ON BASES OF RELIGION. WHERE HAVE YOU BEEN
Re: Re: Re: Re: Re: Is there a Hindu Bank in India?
by Oye Kake on Feb 04, 2011 07:44 PM
I am far better Indian than those who wanted to divide the country in the name of religion just to get votes and then when they get votes they did nothing; Doesnt that open eyes for you people;
