Interesting article about Islamic finance

Jump to Page:
< Previous  [ 1 ]  [ 2 ]    Next >

Member since: Aug 06
Posts: 155
Location: Ottawa

Post ID: #PID Posted on: 27-03-10 00:09:21

Originally posted by G13

Originally posted by Nightmare

Very lengthy article. You have not provided your views/comments. Pertinent question - Can banking business be interest free? What does common sense tell you? My understanding from athe article - and I admit it may be wrong - is that instead of charging interest, it is disguised as profit on reslling a product - sort of derivative contract. It might be getting popularity due to its attractive packaging as ISLAMIC BANKING. However, you should understand that there are no free lunches.

If I can get a million dollar interest free, I would convert to Islam immediately. Let me know if you know of such a deal.

Completely agree. In fact you end up paying more in this "scheme".

I also agree it's lengthy, about my comment- I could not understand it as much as i would've liked so thought I might understand better after some inputs from pundits here.

Member since: Nov 08
Posts: 1448
Location: Sunny - Leone

Post ID: #PID Posted on: 27-03-10 22:01:58

Why did Dubai Collapse?.

Probe and you will find that there is a link between this kind of banking and the borrowings by the Amir of Dubai.

Sunny Leone a true Canadian DESI now back in India !.

Member since: Jul 09
Posts: 97

Post ID: #PID Posted on: 28-03-10 14:34:56

i like vande matarams views on every topic. can i get ur personal mail id?

Member since: Aug 07
Posts: 18

Post ID: #PID Posted on: 29-03-10 14:00:44

To answer Vandematram,

Dubai has never been out of international economic system. Its commitment to Islamic Banking is just one stand-alone Dubai Islamic Bank. When we talk of Islamic Banking it would be taken to mean a whole independent Islamic Banking System, where justice and fair-play are the guiding principles in contrast with profit and greed that drives the present Western model. If you dwell deeper investments in Dubai has been overwhelmingly a traditional interest- bearing western style blow-up. Islamic Banking has either no part in it, or some individual Islamic Banking institutions might have investment in real estate and property development. The free market rise and fall was typical of western economic trade cycle boom and bust.

Contributors: Nightmare(2) kisi143(2) shuja(1) G13(1) brown_bear(1) Your friend(1) shyboy(1) Vandematram(1) Varturam(1)

Jump to Page: < Previous  [ 1 ]  [ 2 ]    Next >

Discussions similar to: Interesting article about Islamic finance

Topic Forum Views Replies
New Article
Articles 2948 5
Discussion on article: Immigration tips for illegal workers
Articles 2955 2
Discussion on article: En cash benefits from Canadian government ( 1 2 )
Articles 6714 11
Discussion on article: The Biggest Battles
Articles 1925 1
Article on immigrant numbers & foreign professionals
Moving Soon 1335 0
Discussion on article: India Land of Love,emotion and sentiment
Articles 2006 0
Discussion on article: I decided not to come to Canada ( 1 2 )
Articles 2225 8
Discussion on article: ľµØ°å
Articles 1381 1
How articles are selected?? ( 1 2 )
Feedback and Comments 2287 10
A very interesting article
Jobs 1293 0
Article on AIDS in India
Our Native Country! 1009 0
Discussion on article: INDIAN MUSLIMS -Under Siege?
Articles 4339 2
Discussion on article: Gujarati Business Association
Articles 2311 1
Discussion on article: USA v/s Canada - An Immigrant's Experience ( 1 2 )
Articles 5848 12
Article on India's Economy and Future Outlook
General 1343 0
US/ CDN price difference ( 1 2 )
General 2670 10
Discussion on article: Financial Planning ( 1 2 )
Articles 4131 8
Cost of the Bush era: $11.5 trillion
USA 1184 1
Tootin' muh horn agin!
Financial Planning 2147 5
Some Indians Find It Tough to Go Home Again - NY Times article
General 1810 6
Discussion on article: THIS IS HOW YOU SUCCEED IN CANADA ( 1 2 )
Articles 5461 7
Article in Frontpagemag: The Wrong Way to Fight Jihad.
News and Events 1859 6
Everything Gonna Go UP ! ( 1 2 3 4 5 )
Life 4531 29
General 1108 1
Discussion on article: REAL ESTATE SCENARIO IN INDIA
Articles 2937 0


Advertise Contact Us Privacy Policy and Terms of Usage FAQ
Canadian Desi
© 2001 Marg eSolutions

Site designed, developed and maintained by Marg eSolutions Inc.