heh heh heh

the "backward religious cults" are what the "progressed civilized west" are returning to in this day and age...specialized economic groups are calling to go back to the "mythological" Quran and the Islamic "superstitious" cult...

Integrating Money in Capital Theory
Published by John Wiley & Sons, Inc.

The Rise of Islamic Banking in a Time of Economic Crisis
U.S.News

Economist Suggests Islamic Finance as Solution to Economic Crisis

Islamic Banks Surge, Thanks to Financial Crisis

arab news

and remember..this is a drop from a sea..islam IS the solution to all people's problems..it IS an utopian life style.. it IS perfect dogma better than any other man made systems.. lol, the question is, how many crises do you people need to realize that?

what does it mean when a system set up by an illiterate man after reaching his forties, and doing so while conquering the biggest civilizations, to actually avoid downfalls which systems which were evolving for a thousand and four hundred years have fallen into and crashed? what does it mean?

come on people, you are smart, you are atheists, you are not sheep..what does it mean?

always asking for evidence, isn't this evidence? (albeit only one) isn't it enough to realize that there is more to this world than you give it?? HUH?

well it took them a thousand something years to realize it, but you seem to need a bit more to have it register...you know, some hit a bottom and rise, some hit a bottom and dig to the other side

Please Register or Log in to view the hidden image!

..

 

Log in or Sign up to hide all adverts.

What does Islam have to do with banking ?

 

Log in or Sign up to hide all adverts.

islam teaches you how to make chocolaty mints..which you give to your dear customers at banks..

IS THAT A QUESTION?

oh dear..

look,, islam IS NOT christianity..ok?

islam is freaking NOT a religion..although the majority of loser "muslims" live it like that..

it's a freaking WAY OF LIFE..it tells you how to drink a cup of water, what to teach your kids, how to treat your animals.....all the way to war stuff and politics and economics and literature and philosophy and sports and education and finance and morals and other things you can't count..it is as i said, a way of life..


no no NO NO..it does not make you live like a robot, it has constraints in freedom, not freedom in confinements..you can live without the next guy noticing that you're having all those "shackles" on..yes, the only thing he'll notice is how decent of a human being you are (if you keep'em shackles on)..

now does this make it easier to see how islam is related to banking??

 

Log in or Sign up to hide all adverts.

Who cares what 'the next guy' thinks ? You still know it..

No, that doesn't mean that you're a decent person at all. It just means that you are forced to come across as a decent person.

Not really, sorry. Unless Allah tells Muslims in detail how to do their banking.
This will never happen in secular countries though.

 

Islam opposes interest, as it is a seen as a dishonest way for people with more capital to make money from poorer people. Many third world countries are adopting Islamic banking, as an alternative to the highly exploitative World Bank and IMF.

 

Ah ok, thanks

Please Register or Log in to view the hidden image!

So.. how do Islamic banks make a profit ?

 

I don't know about "islamic" banks, but there are some community grass roots banks that charge a flat fee instead of interest. Others just act as brokers to your 401 or richer relatives.

 

if i went by that philosophy i won't be here

Please Register or Log in to view the hidden image!

that's how some muslims see it..so they tend to follow the west by following their own definition of decent, ending up not decent (or many times less decent) than the west.

forced requires the absence of two things:
1- trust in what you're being told.
2-knowledge of how what you were told is better..i.e an understanding of how it works..

many muslim "sheep" go by 1..

many muslim intellectuals go by 2.

notice that the followers of 1 aren't stupid, they just gave it a chance and it proved it self, you can replace it as "experience", which is similar to trust..bottom line, you don't know how it works...

that leaves those who don't trust it because they didn't give it a chance, and are not smart enough to understand how it is perfect..
i don't think the majority of the west fall into any of these three typs, as they usually don't even know enough about islam to judge it in the first place.

but that's the whole point..it does.

:shrug:have you bothered reading the OP

 

investment..
won't that work?

 

They are based on real assets. Rather than credit.

http://www.sciforums.com/showthread.php?t=75401

 

That's the only way it makes sense. But I still don't see where the profit comes from other than what Swarm mentioned; flat fee.
But flat fee isn't necessarily cheaper.

 

Should I understand thus: By going backwards the civilized west is no longer progressing. They are regressing to the already backwards state of Islam which in your mind is a good thing. Or....

'Progressive civilized west' is meant to be sarcasm. IOW, what the west thinks is progress is actually a step backwards. However this step backwards leads to Islam, somehow I've missed the connection. Or are you saying Islam is backwards from the west's way of thinking or that what the west believed was progress is not, and they are only catching up with Islam, which is progressively stagnant, an oxymoron at best?

So is this a criticism of the west or a congratulatory note?

 

By charging money for providing money.

They are just (as Christians were for a thousand years) forbidden to charge "interest" on monetary loans. So they have thought up a variety of ways to get more money back than they loaned out, in amounts depending on the time period of payback, that are not "interest". Recently they have put some serious thought into making arrangements that provide the great benefits of Western banking, without technically charging "interest", and have come up with some interesting innovations inspired by the Western advances that did depend on compound interest.

For example, one can buy a house from its owner, an Islamic bank, by paying for it over time - and, while you are paying for it (the exact agreed price, divided into installments without "interest") the bank rents the house to you - for a rental amount curiously equivalent (even to being adjusted downward over time) to what you would pay in interest on a Western mortgage loan. See how elegant?

In other words, barring some paperwork details Islamic banks work just like Western banks, except that they are regulated - Western banks were regulated too, for fifty years after the Great Depression, but that proved unpopular with the rich.

 

-=-

So they fool themselves into thinking their banking is morally superior.

 

what you said is ill-intended but true..in the same way jews were forbidden to fish on saturdays, so they put their nets on fridays and came on sundays and were like "oh! fish!"..there are similar actions taken by people who have a benefit from crediting their business as islamic..or don't have a choice (like in saudi arabia)..the method you described is straight out non-islamic from many faces, not only is it a poorly disguised attempt to charge intrest, but it is two deals in one deal, which is also forbidden in islamic law..

what you came with isn't new, nor is it exclusive to intrest, you'll even find similar lee-ways around adultery (in the name of some wicked types of so called "marriages"), around paying zakat, or alms(?), around many things which the poor people who neither have 1 or 2 in post #8 dn't believe in because of their stupidity..

but most people want to abide the islamic law, that is why many people who the islamic law isn't forced upon "adopt" it, even if only the name and a different line or two in the paper work..and why would they do that? if the islamic law didn't have a great acceptance even in secular countries..

no one is fooling himself but you stranger..
have you read the OP?
what do you know of banking?
what do you know of islam?
what do you know of islamic banking?
what the ruddy fu**ing hell do you know of morals?
what do you know of superiority?

but a fool doesn't know he's a fool so there's no point in asking you about that..

 

-=-

Of course, many people are fooling themselves & fooling others.
Someone who stopped thinking doesn't know he's a fool yet he blathers on & on.

 

have you any idea how that suits you?

for real, i'm not kidding:bugeye:

(except the fooling others part, you're just giving people a reason to try out the ignore button)

 

sorry, but i don't see what you can't understand..

islam is based on unchanging dogma, coming from god, who is perfect, dogma is perfect too, i'v explained this in my thread inspired by your post (if you remember it

Please Register or Log in to view the hidden image!

)

any other system is coming from flawed logic of a flawed being..having to fail in the end.

the west is copying the islamic cult in more ways than one, and preferring it to their cult that has been "advancing" for more than a thousand years (or even more)..why is a system unchanged for a thousand year better than one that has been contributed to by many humans for the same time?

it is freaking illogical...it is proof..psychoticepisode..explain it to me, or accept islam as the best way of life, one which kicks christian and atheist ass..

Please Register or Log in to view the hidden image!

 

-=-

You are the 1 who proudly proclaimed you stopped thinking long ago.
That automatically invalidates everything you say.

 

yes you are right..so please stop reading my posts..