MUMBAI (Commodity Online):India is the first buyer of Iranian oil to agree to pay for its purchases inGoldinstead of the US dollar,reported DEBKAfile's intelligence and Iranian. Those sources expect China to follow suit.India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets.
By trading in gold, New Delhi and Beijing enable Tehrantobypass the upcoming freeze on its central bank's assets and the oil embargowhich the European Union's foreign ministers agreed to impose Monday, Jan. 23. TheEU currently buys around 20 percent of Iran's oil exports.
For what higher title do we carry than to be the Vice Regent of Allah on this earth?
" By time, verily Man is in loss except those who believe and do righteous deeds. And reminds one another with truth. And reminds one another with patience." Surah Al-'Asr.
"The person who utters a word which meets with God's favour may think it has not been heard, yet for this word, God will raise him to a higher level of Jannah. Conversely, the person who utters a word that stirs God's anger may give no thought to what he said, only to have God cast him in Hell for seventy years."
(Narrated by Malik and al-Tirmidhi, also by al-Nasa'i and Ibn Majah)
"Dear God You do not burden that I must but win, but You command that I must but try. Dear God count me amongst those who try. Verily my solah, my ibadah, my life and my death is only for You, Master of all Universe. Peace and aching salutations to the love of our life Muhammad s.a.w"
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Thesis download : "The Negative Impact of Riba Banking on the Performance of Islamic Banking in a Dual System"