Sunday, February 23, 2014
Wednesday, February 19, 2014
Wednesday, February 12, 2014
Criticisms of Islamic Banking / Kritikan Terhadap Perbankan Islam
Criticisms of Islamic Banking
There has been a lot of criticisms on Islamic banking but it has to be addressed correctly.
Criticisms of Islamic banking includes it being too expensive and just a mirror image of conventional banking.
To get credibility of the criticisms we must address the Shariah issues of Islamic banking whether Islamic banking in practise contradicts Shariah.
We cannot say Islamic banking is wrong because it is too expensive. It is a known principle in Shariah not to interfere in normal market pricing. If that is our line of criticism we have to prove the point with statistics and be sure we are comparing like with like. For example are we comparing fixed rate Islamic finance with floating rate conventional finance? In which case is our conclusion conclusively proven with numbers to support? We must also be cognisant that Islamic banking is not meant to operate in a dual environment and in a real Islamic economy it is haram for Muslims to frequent conventional banks. In today’s economy Muslims are allowed to also use conventional banks and conventional banks do not have to abide rules Islamic banks have to. This means Islamic banks by default have to be “like” conventional banks to survive and thrive. In this case it is not appropriate to level criticism only at Islamic banks; the bigger criticism have to be levelled at the government for allowing conventional banks to continue operating at a distinct advantage over Islamic banks. Governments have also failed in their duty to prevent the ummah from using riba institutions.
Tuesday, February 11, 2014
The strategy is to divide and turn societies against themselves using sectarianism, tribalism, religion, by any and every means to prevent the emergence of steadfast and organized political alternatives, with the capacity to retain the surpluses of their own societies for the development of their working people and for their society as a whole . The strategy is to enable powers external to the region to mop and seize the resources surpluses and markets , which is what we are witnessing in Iraq, in Syria, in Lebanon, in Egypt, in Palestine, in Africa among other regions, which is the ” New Colonization ” .
And we all know its not really America is it, but the pest that has infiltrated and taken over America.
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