Assalamu 'Alaikum
Commenting on the article by Salman Sheikh below Islamic banks should also learn to differentiate money lending from business risks. Islamic bank leases assets and sells assets; they should manage business risks not money lending risks which is the realm of conventional banking.
Take
a cold hard look at term sheets and legal documents, an intelligent
Islamic banker will be able to identify the money lending risk
management clauses in there which should be remove if one does not want
to be labelled a money lender
The operative legal
maxim in Muamalat is Alghunm bi Alghurm. One is not entitled to reward
unless one is willing to expose oneself to risk. The Muamalat
practitioner who understands this Shariah injunction seeks risk to justify his
rewards
Risk is only ugly to riba bankers; Islamic bankers who wants to be Islamic Muamalat practitioners are required to seek risks as a matter of Shariah injunction.
Best regards and Salam
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