Islamic Finance & Banking - Is it a solution to the global recession ?

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  1. callonresources profile image60
    callonresourcesposted 12 years ago

    Islamic banking does not recognise or deal with riba (interest). In otehr words Islamic banking is an Interest-free banking system. Islamic banking has not been impacted by the global economic downturn and infact the Islamic banking sector is booming amid the global recession. Many countries in the west are taking a keen interest in the principals of islamic finance and banking. A number of universities in Europe have now undergraduate and postgraduate courses in Islamic finance and banking such as Rotterdam Business School in Holland and Henely Business School in the United Kingdom.

    What do you think?.. should Islamic banking be given a chance in the fight against the economic downturn and the financial crisis that is gripping the world? Can islamic banking be our way out to stability in the global economy

    1. wilderness profile image93
      wildernessposted 12 years agoin reply to this

      Nearly all businesses today depend on loans to maintain their business.  Can independent businesses get bank loans or must they find another source?

    2. Abhaque Supanjang profile image70
      Abhaque Supanjangposted 12 years agoin reply to this

      The chance should not be given, but it has been gotten. There have been many proofs that the Islamic financial and banking system give much better advantages for human in organizing their economic.

    3. heavenbound5511 profile image63
      heavenbound5511posted 12 years agoin reply to this

      Sharia Law/Islamic banking is supposed to all ready be in some of our major banking/financial systems.
      All these videos are very interesting and should be watched and listened to closely- and taken seriously. 


      ***The Muslim Brotherhood's agenda to DESTROY the USA!! Must see!!

      Islam: Declaring Jihad Against America - 2011

      4/1/2011- Sharia Law in America?

      Nonie Darwish, Shari'a Law & America At Temple University-Part 1 … n-1144543/

      **Three things you (probably) don't know about islam

      4 Stages of Islamic Conquest

      His people perish for the lack of knowledge- wake up!!

  2. lovemychris profile image76
    lovemychrisposted 12 years ago

    But they will never break through the brainwashing.

    Just like people ignore global warming: Hey--Pollution is GOOD for you!, they would have you believe that Highway Robbery is the American Way.

  3. knolyourself profile image60
    knolyourselfposted 12 years ago

    Japan had non-usry banking starting around 1930. Saw the theory that the Japanese were forced to invade places like China because of the economic blockades put up by the US and Europe, thus causing wars, wherein immediately upon their defeat non-usury banking was abolished. Wouldn't be surprised if this could be proven. Libya has non-usury banking. The rebels already have a usury banking system. Go figure.

  4. TMMason profile image60
    TMMasonposted 12 years ago

    No it is not.

    1. callonresources profile image60
      callonresourcesposted 12 years agoin reply to this

      ok..and your reasons please for it not being a solution to our financial misery and crisis??

  5. knolyourself profile image60
    knolyourselfposted 12 years ago

    Know is to know what to no. Later Gator.

    1. dutchman1951 profile image60
      dutchman1951posted 12 years agoin reply to this

      Islamic Banking....  Lets see, You ask for and obtain a Hammass Business Partner, Then Build a 200 Million Hotel Complex on the Med. Golf Courses, all of it, with no concern it is actualy your Land.

      100% Capital Gains, Interest Free.  Sounds like Donald Trump in a Head Scarf. We can all adapt to that!  No trouble at all, none what-so-ever...    smile

      1. callonresources profile image60
        callonresourcesposted 12 years agoin reply to this

        If that is so..why is ut then Mr Dutchman that the Dutch are now offering courses on islamic banking in their prestigious business schools !!!

  6. lovemychris profile image76
    lovemychrisposted 12 years ago

    "Richard said...
    It's interesting that the death toll estimate given for Pakistan is even greater than that for Afghanistan. 39,000 as opposed to 33,000. I think the people who claim the U.S./Israel are fighting a war against Islam are very, very much correct. Islam--and I say this as a Christian who has a great deal of respect for the Muslim faith--is the only force currently standing between the Zionists and control of the entire world. That's why it has to be demonized, attacked and defeated.

    There was a time when Christianity, too, might have posed such a threat--and may, possibly, again some day in the future, hopefully not too distant--but presently it stands corrupted to the point of being decrepit and toothless"

  7. jacharless profile image75
    jacharlessposted 12 years ago

    Interesting that someone posted this.
    Consider asking why the larger world powers have such a vested interest in specifically largely Islamic populated countries.

    Bah! Some forget, oil is worth nothing, until it is sold to market.
    and some of these countries have no oil at all, yet have huge flexibility and collective capital.

    For the person who claimed Israel is fighting a war against Islam, you should go visit the region before making that statement. Israel could care less about Palestinian theology as Palestinians could care less about Judaism. That is called media propaganda. Ask yourself this question: Why or What reason would the Persians and Medes have to harm Israel? Think rationally before you answer. Why would Pakistan, Iran or Iraq care what Israel does with its land. Heck, Egypt, Jordan, especially the UAE and Qatar barely care. The later mentioned are the most powerful, politically strong, wealthy generally Islamic by theology. The only loose cannon in the region is Syria and that is because they want a piece of the land pie. If Syria had its way, half of present Israel AND Palestine would be theirs.

    Remember, the entire East & West Banks + Jerusalem share three theologies nearly peacefully and nearly HALF of all natural Israelis and Palestinians are outspokenly non-religious.
    Zionists can never seize control -even with Judaism, Islam and the many variations of Hindi, in their front pockets. All this noise is a smoke screen for something else.
    Think about it.


  8. earnestshub profile image80
    earnestshubposted 12 years ago

    I remember the muslim country to muslim country loans of the 1980's
    4% was the going rate when local interest rates were 16%

    So called muslim to muslim loans were going for 11% to westerners out of accounts held in Switzerland.

    Someone was collecting the usery! lol

  9. callonresources profile image60
    callonresourcesposted 12 years ago

    I am hoping people will engage in a informative debate about islamic banking not on how or why they hate islam. Please you can take your issues about islam to other posts in the forum and let's concentrate on finance and banking in islam. This post is meant for people who understand global finnance not for people who want to have a bash on islam or other religions that they are not comfortable with at every opportunity.

  10. heavenbound5511 profile image63
    heavenbound5511posted 12 years ago

    More really great info.

    Dangers Of Allowing Sanusi Lamido Implement Sharia Banking

    U.S. Interest in Shariah Finance Opens Dangerous Doors, Critics Say
    Read more:,2933,451 … z1R0zwTRaa

    It’s On….. Sharia Banking In The USA…… Michigan now….. where next ? … here-next/

    ShoreBank, Sharia Law and Bank Bailouts

    Shariah law/ banking-FAQ Fact Sheet … Itemid=126

    Islamic banking: How it will operate in Nigeria
    Read more: … z1R134bmed


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