The Rise of Islamic Banking in a Time of Economic Crisis

islamic bank current issue

i am currently do project paper.

can u share about the issue in Bai Salam an Bai Istisna?

thank you

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Islamic approach to financial crisis by using zakat and copyright idea "al-memani world banking windows" universal currency,ban offshore banking, ban interest

Usuary

Allah has forbidden usuary and has given worning.If you want to deal with usuary consider that you are declaring war with Allah.Allah also promised to eradicate the amount of usuary collected unless you resent and take your capital only.

If you look to the amount of economic damage that has been caused in the current economoc crisis it in in trillions.The total amount of loss that happened now if it is calculated it will be more than ten to twenty fold if not more than the amount of interest that has been collecteted ever since dealing in interest was started. This is an evidence what Allah promised as mentioned above to eradicate the usury and interest has happened.

Look at the stages of the crisis starting from banks the biggest dealers in interest, followed by insurance companies, car manufaturers who are selling by installment with interest.the crisis will continue unless we start dealing in the way Allah have guided us.

I wish all the best and pray to Allah to bring an end to this crisis and guide decision makers to the right path.

sherea is the solution

Today our globe is suffering from economic crisis. The cause for this economic chaos is nothing but it is the model of the greedy capitalist theory. As all of us know before 1990 or 1991 the so called socialism were the most rival of the west economic model which was dominant in the east and some Arab and African countries. Socialist countries were claiming that the solution of the human crisis on the earth is the model of the Marxian economic theory. Without any, even an atom size solution could not be achieved ideas based on this model. The good was we saw its collapse.

Poverty, shortage of food, war, migration and other social disorder in various numbers of places specifically in countries that were used this model as a sample model of economic welfare became common. This theory is not fit for humanity to be practice on earth so that we saw its fail. The later model that hit our globe is the so called capitalism. I don’t like to discuss about the ideas that capitalism build up as it not the point of my opinion at this time ,but I can generalize what the capitalism in one point that is like fish daily life( the big eats the small) In a capitalism world a capitalist doesn’t need not to care about the poor ,what he cares about is his business ,the interest rate that he will collect from loans of others .as a result the poor became poorer and the rich het richer. If this the core of the model can, peace, stability, trust ship among people? Is this mechanism surely can solve this problem?

So what shall we see more economic model based on human philosophy? But my opinion is let’s come back to our faith, to the truth religion of God .Islam is the solution indeed Islamic sherea is could cure the problem. Otherwise solution will not be achieved forever. The good reason for my claim is that, Islamic banks in Europe and America showing remarkable growth in their capital. The forecast of their status is very promising. Therefore sherea is the solution.

Islamic banking

Although it is appearing that it will beecome the only solution but i have still reservations on it as the thing cannot be acceptable and fruitful to us if it is acceptable to the west also.Mind it.

answer to credit crunch

Copyright idea on www.credit-crunch.synthasite.com

islamic banking is the solution

At that current econmic crisis all over the world only islamic banking is the only solution provider of this recession.it is totally based on welfare of the common man as well as for a nat ion.The future of islamic banking is so bright and it is adopted by every country even non-muslims countries such as america, england etc.

MUHAMMAD SALMAN IDREES

COMSATS INSTITUTE OF INFORMATION AND TECHNOLOGY LAHORE,PAKISTAN

Islam

This article shows the superiority that Islam has over all the other religions!

Islamic Banking as good alternatives for current financial crisis

This article shows the successes of Islamic banking which is based on interest free banking whic is stricly forbidden by Quran. There are several verses in Quran which not only forbid but aslo condeme and warned those who charge,pay, or facilitate and support the interest based banking.

There have been always the aurguments that there is no alternative of interest based banking in the world and Islam does not come with alternatives for conventional banking. This aurgument is completely rejectable and unacceptable. There are a lot of options and principles under which not only Muslim but non Muslim can also organize thier banking activities and projects. Following is the summary of Islamic Banking principles and options applicable for al most all modern banking practices worldwide. These are the comprehensive principles wih broad scope of applicability that can cover almostly all modern banking products and services. Follwoing is the summary for these principles of Islamic Banking.

Currently world is seriously affected by economic crisis particularly bankng sector.

Islamic banking is the solution for current financial crisis.Islamic banking with its products under the principle of Mudhareba have control on the fund compared to conventional banking. Under the the Islamic investment accoutns the money deposited are invested in such project that are safe and secure and with more possiblities of transparancy. Murabeha and Bai Mawjal are the best priciples under which Islamic bank can deal with housing finance and mortgage projects. Under this principles the house is bought by bank and remain as its property but used by customer until he/she not pays the full amount. The bank sells the house with a premium price which is hire the purchase price to its customer with a deffered payment payable after certain time period.

Bai Istisna is another good principle under which all the construction projects can be financed in a very safe and secure and risk free manners.

Under the Murabeha principle of Islamic banking bank can finance the trade and commerse with more safty and security and very limitted risk.

Under the Bai Salam principle bank can raise fudn for its capital.

Under the Ejara suma al Bai bank can finance the auto business and bring oppertunities to every body to purchse cars for him/herself. Also under this priniple bank can finance households and equipments and machineries for industrial plants and project.

There are certain other principles which cover all banking products and services without involving interest.

Interest is stricly forbidden in Islam. Because interest or Ausury is the unjustifide way fo collecting money from needy people who are looking for financing thier projects and there need.Banks involved in the interest based banking ae more venerable compared to those who do interest free banking.

I have more information on Islamic baking any one who would like to get inforamtion and research on this topic they are wellcome.

Islam is the only complete remedy for Humand proplems

Islam presents the complete solutions for Humanity in the world. The solutions is not only for social and moralm affires but also for the economic crisis and presents best solutions for the financial needs of the humanity.

The recent global financial crisis is because of interest bearing system and the oil and essential commodities prices which were reached to record highest level.

The economic crisis begin from Credit and Mortgage crisis which is based on interest. Islam forhibitted the interest and condem the interest. Islam opposes it because it is the an appropriate way to collecting money from the needy people. Interest gives chance to the people who are richer to take money from the poor or middle level people who are needy

Islam do not allow to charge fix amount or percentage of money.

Islam gives good alternatives to replace interest based finacials.

There are many principles liek "Mudariba, Musharika, Murabiha, Bai Ain, Bai Mujel, Bai Selam, Bai Istisna, and others.

These principles give a wide space and provide a framework not only for banking butalso for money markets, investment, trade, financial markets, insurance and other sectors.

I can claim and I have a lot of materials on the topic that only Islam can provide best solutions for the global economic ression and to solve the current financial crisis in the world.

Any body how need more inforamtion on this topic I am at their service.