Refocussing the Valid Criticism on Islamic Banking

Toward A Just Monetary & Financial System

Refocussing the Valid Criticism on 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 makruf (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 Muslim ummah from using riba institutions.

THE MYTHS ABOUT MONEY

THE MYTHS ABOUT MONEY.

The first myth about money is that it is backed by gold. It is not true, money today is not backed by gold or anything of that nature. It is backed by nothing more than the law of fiat. In other words a legal requirement to accept whatever is money as determined by the authorities.

The second myth about money is that 100% of a nation’s currency is its paper currency and coins. It is not true, paper currency and coins forms on average only 3% of a nation’s currency, 97% is money created by banks.

The third myth about money which is about to be debunked is that banks’ creation of money begins with a deposit of cash by a depositor in a bank. Then less a certain percentage paid to the central bank as reserves the balance is lent to a customer of the bank who in turn places the money in his bank which is again relent minus the central bank reserve. With the deposit of RM1000, and say a 2% statutory reserve the banks can create in total RM24,000 of money out of thin air making a new total of money of RM25,000. Indeed if the initial deposit is RM1 billion, RM24 billion of money can be created by banks out of thin air. This is referred to as the Multiplier Model of Money which is now being debunked as a money creation process even by Central Bankers such as Mervyn King, Governor of Bank of England in 1994, Adair Turner, Chairman of Financial Services Authority of Britain in 2011 and Vitor Constancio, Vice President of the European Central Bank.

Kekeliruan isu wang kertas - Diantara bicara furu' dan bicara makro kesan sistem wang fiat

Assalamu 'Alaikum

Didalam Isu wang kertas apa kata kita bicara daripada segi makro, yakni daripada segi kesan sistem tersebut terhadap ummah terutama rakyat marhaen dan samada sistem tersebut melanggar maqasid. 

Masalah wang kertas, atau lebih tepat dirujuk kepada sistem wang yang tidak bersandar kepada emas atau mempunyai 'ain sendiri, ialah masaalah jumlah wang didalam sesebuah negara dinaikkan tanpa henti sementara barang dan khidmat tidak naik setaraf kenaikkan jumlah wang. 

Ini mengakibatkan inflasi besar, berpanjangan dan tanpa henti, yang sentiasa mencuri kuasa beli terutama dari rakyat marhaen yang berpendapatan tetap dan rendah. 

Contoh 1980an gaji graduan baru RM1200 nasi campur RM1.80, kereta termurah RM14,000 dan rumah termurah RM60,000. 2014 Gaji graduan baru purata RM1,900, nasi campur RM5, kereta RM40,000 dan rumah RM400,000. Ini jelas kesan inflasi sistem duit fiat.

Do we need an international reserve currency?

Borderless economy oic from Zahid Aziz

A Voice of the true America - The world awaits your victory

A voice of the true America

Posted by: Steve Cook
Published September 21, 2014, filed under Commentary, Government, New World Order

It is very clear that our friends, the American people, have had foisted upon them by trickery and deceit a government that serves other interests than theirs.

Serving a corrupt criminal elite, it has turned democracy into a con game.

In its domestic conduct it has shown itself to be an enemy of its own people, while in its foreign policy it has shown itself time and again to be the single greatest instrument of international anarchy, turmoil and war at this time. It has taken the American people down a path they never intended to take, dragged their good name into the gutter and all but bankrupted what was once the world’s most vibrant economy.

What happens in America has a profound effect, for good or ill, upon global civilisation and that is why all of us have a vested interest in the ultimate triumph of men loyal to its constitution and the principles enshrined therein, a constitution that is spat upon daily by the criminals who have hijacked American governance. It is also the reason why, as we decry the bad example set by those enemies of the people, we must also applaud and assist the good example set by those who refuse to let those principles be snuffed out.

A wise man once said that the price of freedom is eternal vigilasnce and a constant willingness to fight back. Once again the American people find themselves the victims of a parasitic elite, an elite encamped on their own doorstep and against which they will have to fight back if the are to recover the freedoms for which their forebears fought so valiantly.

The Engineering of World War III. Stop these evil people. Take back your country. Do not allow your leaders to be manipulated by them any longer.

PAMCTOP

Assalamu 'Alaikum,

PAMCTOP

That’s Ramstore to you and me, a shopping mall a good 20 minutes walk away from the hotel I’m staying at in this beautiful city the other side of the Himalayas. Yes, a walk I had to make succumbing to modern man’s weakness of life can’t be lived without a charger.

Yes I remembered ensuring I took the international converter everywhere in my travels the last couple of years, but I never had occasion to need it! So I never bothered to remember to bring it this time, only to find out that this time it was much needed, and that life is rather uncomfortable if you don’t have the stuff to recharge your smart phone and your smart laptop. Appeals were sent everywhere via emails and whatsapp to any fellow citizens nearby to assist a fellow citizen in distress.

Only when the hotel reception said for the umpteenth time that no international guest had return their converter did I decide to take thing into my own hands. After all I did promise Facetime with the loved ones at home soon, and I have tons of work and co curricula activities to do on my laptop. Yesterday the receptionist did show me a map of town and how near Ramstore was where I could buy the plug converter. Of course when people from cold countries say it’s a short walk; it’s actually a long walk for those from hotter countries. That’s because those for hot countries walk under the hot sun whereas those from colder climes walk under breezy winds.

Suatu Amalan Muamalat Yang Mencurigakan

Assalamu 'Alaikum

SUATU AMALAN MUAMALAT YANG MENCURIGAKAN

[Source : FB Page - Towards a Just Monetary & Financial System / KeArah Sistem Monetari & Kewangan yang Adil]

Hilmi : Azman pinjamkan saya RM1000 untuk 6 bulan?

Azman : Boleh, nah RM1000 tunai?

Hilmi : Azman boleh tak awak simpan dulu duit RM1000 ni. Saya nak guna sikit sikit je. Bila perlu saya minta lah kat awak, baki tu awak tolonglah simpan untuk saya, saya takut hilang.

Azman : Baiklah ini resit membuktikan jumlah wang yang ada pada saya sekarang ya itu sebanyak RM1000.

Salim : Azman, pinjam kan saya RM500 untuk 2 bulan?

Azman : Tak buleh saya dah habis duit.

Salim : Tu yang RM1000 Hilmi simpan dengan awak tu.

Azman: Ini duit Hilmi, saya tak boleh pinjam kat orang lain.

Salim: Bolehlah, saya bukan nak RM1000. RM500 je. Dan untuk 2 bulan je. Hilmi tak tahu. Saya terdesak ni.

Azman : Baik lah nah RM500.

Palestinian foreign minister seeks to prosecute Israel for war crimes at ICC

Wednesday, 06 August 2014 10:50

  21  24 

  0  46

Al-Maliki accused Israel of committing 'atrocities' and said that 'Israel does not leave us with any other choice; we must do everything we can to bring those responsible for war crimes and crimes against humanity to justice'

Palestinian Foreign Minister Riyad Al-Maliki has announced that the Palestinian Authority seeks to prosecute Israel at the International Criminal Court (ICC) for its war crimes committed during the latest aggression in the Gaza Strip.

Following his meeting at The Hague with ICC Prosecutor Fatou Bensouda of the Gambia, Al-Maliki said the Palestinian Authority seeks to join the ICC as a prerequisite to opening an international investigation into the Israeli-Palestinian conflict.

Arabs 48 news website reported that Al-Maliki accused Israel of committing "atrocities" and said that "Israel does not leave us with any other choice; we must do everything we can to bring those responsible for war crimes and crimes against humanity to justice."

Al-Maliki commented on the 72-hour ceasefire between Israel and the Palestinian resistance, which went into effect on Tuesday morning, saying: "We expect the ceasefire to continue for 72 hours and even more," adding "everything depends on the seriousness of the Israeli side."

The Palestinian Authority asked the ICC in 2009 to investigate Israel's crimes against Palestinians in the Gaza Strip, but the ICC prosecutor said at the time that only states could join the international court and push for a probe, thus preventing the Palestinians from pursuing their case at the ICC.

However, in November 2012 the Palestinians received an observer state status at the United Nations, which allows them to join the ICC and other international conventions.

Al-Maliki pointed out that the Palestinians are prepared to bear the results of any possible investigation, which would include both sides, not only the Israeli side.

Bensouda said in a statement that the court still could not investigate Israel over war crimes because the Palestinian Authority is not a member state of the Rome Convention.

The ICC prosecutor pointed out that she had not yet received "any official document from the Palestinians requesting to join the ICC or demanding to investigate the Israeli war crimes" following their recognition as an observer state.

Bensouda noted that her meeting with Al-Maliki was intended to "clarify the available mechanisms for any state to join the ICC or push for a probe".

The Times of Israel quotes Al-Maliki as saying that joining the ICC now is merely "a question of procedural matters."

- See more at: http://www.middleeastmonitor.com/news/middle-east/13273-palestinian-foreign-minister-seeks-to-prosecute-israel-for-war-crimes-at-icc#sthash.4deR9wxP.dpuf

An American Eid

From: Douglas……

Sent: Monday, 28 Jul, 2014 9: 57 AM

To: Zahid Subject : An American Eid

Dear Zahid.

 Eid al-Fitr is not an official holiday in America, but I like to take the opportunity to share Islamic culture with those around me who may not appreciate this important tradition.

 In honor of the occasion—at the local coffee shop where I’m a fixture—I decided to put a small plate of dates on the corner of my table. I was curious about how other customers would react.




From the store manager:

“Doug, you don’t like our own fruit and cheese tray?”

“It’s a special occasion. I’m recognizing Eid, celebrated throughout the Muslim world.”

“I had no idea! Let me put the Yemeni coffee on sale.” 



From the hipster:

“Are you selling dates?”

“No. I’m giving them away to acknowledge the Muslim Eid holiday. Here, take one.”

“But dude, there are no Muslims around here.”




And from the local police captain:

“Hey, are you investing in date production now?”

“I’m merely honoring the Muslim Eid holiday. Dates are big in the Muslim world. Try one.”

“This tastes great. Where’s the mosque? I’ll go buy some. Are they having a sale?”




Eid offers an opportunity to be grateful for community, both near and far. I trust that the season brings joy to your family and friends.



Warmly,

Douglas.




New York, New York 10004


From : Zahid

To : Douglas

Subject : Re: An American Eid

Dear Douglas,

Wonderful gesture!

Pardon me for being too candid with mine. Allow me to share with you below my current Facebook status.

"Ceasefire or upliftment of Gaza seige?

We can have both if the American and European Civil Society can now begin work on getting rid of Zionists pestilence in their democratic system. Or offer a third People Funded Candidate in the next election. As for current Israeli puppet leaders civil disobedience till they begin to act as national leaders and not Israel puppets."

May you regain your wonderful country for your wonderful people soon.

With warmest regards,

Zahid

Belum

Assalamu 'Alaikum

Belum

Sampai ke belum?

Sampai dah? Kemana?

Belum.

Sampai ke belum?

Sampai dah.

Kemana?

Belum.

Isy isy! Sampai ke belum?

Sampai dah.

Kemana?

Belum.

Papa! Sampai ke belum?

Sampai dah………….

You can go crazy with your nine year old daughter on this. It’s a play on the word belum which in Malay means ‘not yet ‘. Belum, the pronoun, is also the name of a royal heritage site on the mountainous East West Highway housing the world’s oldest rainforest reserve. A popular tourist sport with hotels on a man made island, actually a Dam made island, overlooking a man made lake, half way to Kelantan or Perak depending which way you’re heading. You can have fun with your kids on the play on words on whether you have arrived at Belum or belum(i.e.not yet in Malay)! But don’t try with Mama when she ‘s sleepy, might not get much of a response.

Here I am on the hotel balcony overlooking the beautiful fresh water lake contemplating the freshness of a Ramadhan morning a couple of days before Eid, in sya Allah. Contemplating indeed what we have done wrong as a Muslim ummah, or more appropriate what we have not done right. The monsters of Israel outplaying even Adolf Hitler is raining death and destruction on little kids, babies, invalids and the civilian population in Gaza. Patients in hospitals die on their beds not from wounds which put them there, but bombs Israel lands on the hospitals. Geriatric and invalid ‘terrorists’ are also not spared when their old folks and invalid homes are rained carnage by the ‘innocent lambs of Israel’ as they wish to portray themselves to the world.

Boko Not Halal

Assalamu 'Alaikum

Boko Not Halal

“The black economy in Malaysia is quite significant I think,” I said to unhappy looks on the face of my audience, which matched the puzzled look on the waiter’s face when I said “Black!” in response to his question how I liked my coffee. Innocent faux pas on the part of the Malaysian trainer faraway in deep Africa. I quickly recovered the situation by deftly referring to the ‘underground’ economy instead in my next sentence but I stood my ground on the coffee as I was not too fond of the condensed milk being used here being too rich for my taste.

Ubah atau kekal dalam kemelut / Change or continue in circles

Assalamu 'Alaikum,

Ubah atau kekal dalam kemelut / Change or continue in circles

Keadaan tidak akan berubah sehingga semua orang Melayu, Pas atau Umno belajar dan memahami sejarah. Yakni bagaimana agama kita telah sekularismakan oleh Penjajah.

Risk Management, the misguided subject that perpetuates the rule of riba.

Assalamu 'Alaikum

Risk Management, the misguided subject that perpetuates the rule of riba.

There is nothing wrong with risk management. As a concept it was promoted even by the Prophet s.a.w. when he says mafhum, “ Tie the camel first then place your trust on Allah” or tawakkal ‘alAllah. However it’s application out of context has perpetuated the rule of riba. However before we go any further let’s define riba in the most clear cut and easy to understand way. Most people understand riba as interest over a loan, which is correct. However a more exacting definition of riba is to define it within the context of injustice in the allocation of risk between two partners in a supposedly business relationship.

Perbualan Antara Sahabat II

Shuaib : Adakah Perbendaharaan Negara mengamalkan sistem perbankan rizab pecahan didalam urusan pinjaman perumahannya?

Zakaria : Perbendaharaan Negara tidak boleh mengamal sistem perbankan rizab pecahan sebab mereka bukan peminjam, penerima deposit dan pengendali akaun semasa dengan buku cek. Perbankan Rizab pecahan hanya boleh dibuat oleh institusi yang boleh membuat tiga perkara tersebut secara serentak.

Shuaib : Pemerintah mampu membuat tiga perkara itu melalui Bank Pusatnya. Mereka faham kesan buruk cetakan wang palsu. Mengapa mereka benarkan sistem bank membuat perkara yang sama kesannya saperti mencetak wang palsu dalam sebuah negara?

Zakaria: Sekiranya ulama benar-benar faham sistem ini, ia akan ditegah diatas sifat gharar kubra, menjurus kepada memakan harta tanpa haq, dan menindas golongan dhaif, dan menidak beberapa Maqasid Syariah.

Bank Zombie dan Fraudulatives

Bank Zombie dan Fraudulatives

HSBC Bank di ambang keruntuhan : Bakal Keruntuhan Bank Utama Kedua Didunia

http://iacknowledge.net/a-closer-look-at-china-and-hsbc-are-they-running-out-of-cash/

Assalamu ' Alaikum,

Aah keajaiban perbankan, bagaimana RM10,000 deposit tunai membenarkan bank-bank untuk terus mencipta  24,000 wang dari atas angin dan meminjamkannya tanpa siapa tahu keadaan sebenar sebab semuanya diselesai dengan pertukaran cek. Penipuan itu akan terserlah jika semua orang bermula untuk menuntut wang tunai. RM25000 wang yang berpusingan tetapi hanya RM1000 yang benar benar wujud. Inilah gambaran sebuah bank dalam krisis.

Of Zombie Banks and Fraudulatives

HSBC Bank on Verge of Collapse: Second Major Banking Crash Imminent‏

http://iacknowledge.net/a-closer-look-at-china-and-hsbc-are-they-running-out-of-cash/

Assalamu ‘Alaikum,

Aah the magic of banking how a RM10,000 cash deposit allows the bank to further create  and lend another 24,000 money out of thin air which nobody knows any different because all settle with cheques which banks sets off against each other. The fraud will appear if everybody starts to demand cash. RM25,000 money is floating round but only RM1000 cash is available. That describes a bank in crisis.

Islamic Banks as Determined by Islamic Economics

Perbankan Islam dari Perspektif Ekonomi Islam

Confusion in relation to Risk and Risk Management by Practitioners of Islamic Muamalat / Kekeliruan berkaitan Risiko dan Pengurusan Risiko oleh pengamal Muamalat Islam

Confusion in relation to Risk and Risk Management by Practitioners of Islamic Muamalat / Kekeliruan berkaitan Risiko dan Pengurusan Risiko oleh pengamal Muamalat Islam

Assalamu ' Alaikum

Confusion in relation to Risk and Risk Management by Practitioners of Islamic Muamalat

We often hear of the terms Risk and Risk Management being used today especially in the Islamic banking industry. Risk management practitioners in industry generally, and in the Islamic banking industry in particular, accepts in toto the Risk Management Knowledge as taught by the West all this while, without examining the background from which such Knowledge came from.

It is obvious the Risk Management Knowledge taught by the West is underpinned by the full legitimacy of riba to them . In fact, every aspect of Western Risk Management is designed to benefit  riba owners.

The Money Masters 3 1/2 hour non fiction documentary

http://www.themoneymasters.com/the-money-masters/synopsischapter-headings/

THE MONEY MASTERS is a 3 1/2 hour non-fiction, historical documentary that traces the origins of the political power structure. The modern political power structure has its roots in the hidden manipulation and accumulation of gold and other forms of money. The development of fractional reserve banking practices in the 17th century brought to a cunning sophistication the secret techniques initially used by goldsmiths fraudulently to accumulate wealth. With the formation of the privately-owned Bank of England in 1694, the yoke of economic slavery to a privately-owned “central” bank was first forced upon the backs of an entire nation, not removed but only made heavier with the passing of the three centuries to our day. Nation after nation has fallen prey to this cabal of international central bankers.

The success of the central banking scheme developed into a far-reaching plan described by President Clinton’s mentor, Georgetown Professor Carroll Quigley, “to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations. Each central bank….sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the levels of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.”

Famous Quotations on Banking from themoneymasters.com

http://www.themoneymasters.com/the-money-masters/famous-quotations-on-banking/

PRESIDENTS

If the American people ever allow private banks to control the issue of their  currency, first by inflation, then by deflation, the banks…will deprive the people of  all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

“I believe that banking institutions are more dangerous to our liberties than standing armies.” – Thomas Jefferson

… The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating. -Thomas Jefferson

History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by  controlling money and its issuance. -James Madison

If congress has the right under the Constitution to issue paper money, it was  given them to use themselves, not to be delegated to individuals or corporations. -Andrew Jackson

The Government should create, issue, and circulate all the currency and  credits needed to satisfy the spending power of the Government and the buying power of  consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity. -Abraham  Lincoln

All the World's Gold

From: Number Sleuth

Criticisms of Islamic Banking / Kritikan Terhadap Perbankan Islam

Criticisms of Islamic Banking / Kritikan Terhadap Perbankan Islam

February 12, 2014 at 5:47pm

Criticisms of Islamic Banking
https://www.facebook.com/notes/toward-a-just-monetary-financial-system/criticisms-of-islamic-banking-kritikan-terhadap-perbankan-islam/715739895124537


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.

Sectarian Warfare and America’s New Colonialism

Assalamu 'Alaikum
 

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.

Follow the Facebook pages of "If Americans Knew" and "Traitors In Government"

Zahid

The Final Speech That Doomed JFK

Why The Brave President Had To Die

Israeli Message to Americans

Post by Traitors in Government.

Yatim Yang Tidak DiTangisi / Who Cries for this Orphan?

Slaughter of Malay Muslim Villagers by Thai Forces

Post by Bunga Pusaka.

Patani- Slaughter of Malay Muslim Villagers by Thai Forces

Perbualan Antara Dua Sahabat

Assalamu 'Alaikum

Perbualan Antara Dua Sahabat

(Petikan dari FB Page : Towards a Just Monetary & Financial System / KeArah Sistem Monetari & Kewangan Yang Adil )

Zain : Boleh tak meminjam suatu barang yang sebenarnya sedang dipinjam kepada 25 orang lagi secara serentak, dan sekiranya 25 orang ini tuntut untuk pegang dan lihat barang yang dipinjam barang itu tidak wujud atau tidak mampu dihadirkan oleh peminjam melainkan dengan tipu helah?

Apakah hukumnya dari segi Shara'?

Jamil : Dah sah tidak boleh dari segi logiknya pun. Tu memberi pinjam secara Yahudi. Saya rasa Perbankan Patuh Syariah kita pun ikut cara itu kut?

Zain : Bro boleh tak saya sewa basikal saya kepada 25 orang secara serentak dan beri mereka resit mengatakan mereka boleh datang bila-bila masa untuk ambil basikal itu dari kedai saya?

Kekeliruan berkaitan Risiko dan Pengurusan Risiko oleh pengamal muamalat Islam

Assalamu ‘Alaikum

Kekeliruan berkaitan Risiko dan Pengurusan Risiko oleh pengamal muamalat Islam

Kita sering mendengar istilah Risiko and Pengurusan Risiko yang diguna pakai hari ini khususnya dalam industri perbankan Islam. Pengamal Pengurusan Risiko didalam industri amnya dan industri perbankan Islam khususnya menerima bulat-bulat ilmu Pengurusan Risiko yang telah diajar oleh Barat selama ini tanpa mengkaji latar belakang hasilnya ilmu tersebut.

Jelas sekali Ilmu Pengurusan Risiko yang diajar barat berpaksi kepada kehalalan riba kepada mereka. Malah setiap ajaran dalam Ilmu Pengurusan Risiko Barat berobjektif menguntungkan pengamal riba.

Hubungan diantara peminjam dengan yang meminjam bersandar kepada hubungan pinjaman wang atau “money lending.” Oleh yang demikian ini bukanlah merupakan suatu amalan muamalat didalam Islam. Hubungan muamalat dalam Islam contohnya ialah diantara penjual dan pembeli, dan penyewa dan yang menyewa. Oleh yang demikian Pengurusan Risiko yang diamal oleh ‘money lenders’  tidak boleh digunapakai oleh pengamal muamalat Islam.

Bank of International Settlements

Assalamu ‘Alaikum,

Bank of International Settlements (BIS) in Basel, Switzerland is where all central bankers in the world go to school. This is where they produce the banking regulations called Basel I, Basel II and Basel III etc. It basically tells the central banks throughout the world to go back and tell the banks under their jurisdictions in their respective countries how much capital to have in order to lent a multiple of that amount to the borrowers. That's the official lingo.

In everyday language it means how much cash to  maintain in the vaults to cover the actual cash requirements of their borrowers when the banks lent more money than they actually have. If they have RM1 billion in deposit, and reserves to be placed with central bank is 2% of deposits, they will actually lent out a total RM25 billion to their borrowers. The RM24 billion is money they don't have, which the banks created out of thin air not backed by anything, when they lent and relent and relent the original RM 1 billion deposit placed with them. They can do this because people settle with cheque books not cash and dont all go and withdraw cash at the same time! They even charge interest for this fictitious  money but that's episode II.