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Adapting Finance to Islam

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  • Adapting Finance to Islam

    November 22, 2007
    Adapting Finance to Islam

    By WAYNE ARNOLDCitigroup, HSBC and Deutsche BankCommercial BankSuezBerkshire Hathaway
    "Closer and closer to mankind comes their Reckoning: yet they heed not and they turn away" (21:1)


  • #2
    Re: Adapting Finance to Islam

    Whether these "Islamic finanical products" are actually HALAL or not, is debatable and questionable. As there is currently alot of difference in opinion on this at the moment .
    "Closer and closer to mankind comes their Reckoning: yet they heed not and they turn away" (21:1)

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    • #3
      Re: Adapting Finance to Islam

      It's just a way of wording the same riba based financial products and window dressing them to fool the awaam and those looking for an excuse to invest and make money by making them thinks it's shariah compliant.
      “Take Aqeedah from the Salaf, learn Adab from the Tableeghi Jamaat, and brotherhood from the Ikhwaan"

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      • #4
        Re: Adapting Finance to Islam

        Islamic Finance is Supported by Non-Muslims


        Source:Islamic Finance

        http://www.islamonline.net/servlet/Satellite?c=Article_C&cid=1195032536309&pagename=Z one-English-News/NWELayout
        Journal of Turkish Weekly http://www.turkishweekly.net/news.php?id=50578
        "Closer and closer to mankind comes their Reckoning: yet they heed not and they turn away" (21:1)

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        • #5
          Re: Adapting Finance to Islam

          Islamic finance seeks independence from politics

          Debate grows in Gulf states over revaluation - Nov-20


          - Nov-16


          Gulf markets set to rebound - Nov-19Copyright The Financial Times Limited 2007
          "Closer and closer to mankind comes their Reckoning: yet they heed not and they turn away" (21:1)

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          • #6
            Re: Adapting Finance to Islam

            http://www.gulf-daily-news.com/Story...&IssueID=30240
            Islamic finance 'is seeing rise in global demand'


            LONDON: Delegates at a two-day conference on Islamic Housing and Real Estate Finance held in London heard how Islamic finance is set for a major boost over the next few years.


            Putting Bahrain firmly on the world map of Islamic housing finance, Sakana Holistic Housing Solutions chief executive R Lakshmanan spoke on global and GCC-specific housing segmentation trends. He said how the real estate market is undergoing constant change due to many diverse factors which are closely allied to economic, demographic and cultural influences.


            He also discussed how Islamic finance can develop the latent demand by using mortgage products as well as value-added services.
            "The GCC mirrors many of the changes we see in international property markets which are boosting the demand for Islamic housing finance," he said. "These include changes to property laws which allow more people to participate in the housing market; a greater variety of property including more affordable housing, and the increasing range and acceptability of Islamic mortgage products."
            Recent changes in the GCC real estate market - in particular the increase in availability of freehold property - are contributing to the steady growth in demand for Islamic mortgage finance.
            "Closer and closer to mankind comes their Reckoning: yet they heed not and they turn away" (21:1)

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            • #7
              Re: Adapting Finance to Islam

              Originally posted by Abu Mu'adh View Post
              It's just a way of wording the same riba based financial products and window dressing them to fool the awaam and those looking for an excuse to invest and make money by making them thinks it's shariah compliant.
              No, not all of them are like this. Sure there may be some that are but that doesn't mean that all Islamic banks are doing this. And this kind of attitude doesn't help. Those who bank with Islamic banks are at least trying to stay away from that which is haram. And this is a good thing. Whereas there are some who like to operate with Western banks and then try to make themselves feel good about this by saying that Islamic banks are the same and that there is no point in switching over to an Islamic bank (I'm not pointing any fingers). This is not the attitude we as Muslims should have. We should try our best to adhere to the commands of Allah (swt) and stay away from that which is haram. And if we cannot completely remove ourselves from haram then we should at least attempt to limit it.

              Peace.
              "And thus have We willed you to be a community of the middle way."
              (al-Baqarah: 143)

              Allahumma innaa na'udhu bika min an nushrika bika shai-an na'lamuh; wa nastaghfiruka limaa laa na'lam.

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              • #8
                Re: Adapting Finance to Islam

                Is Islamic banking in Pakistan really Islamic? ======================================= http://www.thenews.com.pk/print1.asp?id=83982
                "Closer and closer to mankind comes their Reckoning: yet they heed not and they turn away" (21:1)

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