First ever U.S Islamic Banking Subsidiary

[WorldOfDeceptions]

Not like it used to be, clicking on reply to oher peoples' comments. Anyway, I agree with Conglomerate8 :)

[markazislam1]

very good effort....

[conglomerate8]

Islamic banking = Back-door for Riba

[Zeek19]

@conglomerate8 Not all involves back door Riba.

[tayseerbr]

my friends ,,

islamic banks are more safety that others ,,

and the financial problems last year was the best example

[mowgly3000]

@tayseerbr Yes, that's why Dubai is in worst financial crisis it's been since before they found oil

[xpressin]

@mowgly3000 not all banking in Dubai is Islam based

[tahir1251]

shariah finance the solution for humanity!

[Ezzedeen01]

Not really, Islam permeates, or should permeate every facet of a persons life.

[ribhfinance]

The prohibition of usury is contained in all the original texts of judaism, christianity and islam. Shariah finance is a gift to mankind and is not reserved for muslims. Sharia law is flowing from this pure original source. It was designed by the One God who created this universe and who knows what benefits mankind. There will be no sharia bubble. Sharia finance is the exact opposite of Wall Street's greed, tricks and deception.

More on ribh . wordpress . com

[9343105697]

the problem of western democracies is that when you brand a person or a community cause he is different then you are called a racist , this is acceptable to me as long as the same charge is applied to people who want to indentify themselves different from the other community following different laws and investments . promoting this shariah investment is also a racist thing. This too will create a bubble and when it blows , it will be bigger thab the BIG BANG creation of the universe.

[ribhfinance]

Answer to Crock : Well it actually depends on the terms of your contract... You should refer to the clauses and conditions under which the house can be sold and who takes the initiative to sell : is it you or the bank. But anyway a clause that would clear the bank from bearing it's share of the loss would be void under Sharia law.

[crock703]

Question for anyone:

Under Islamic banking, if I buy a $100,000 house in a partnership with an Islamic bank, and after 10 years, I pay half of the house off.. but the housing market tanks.. and I sell the house to a new buyer for $50,000, does that mean that I still owe the bank $25,000, and the bank loses $25,000 of its own money?

[sunisastar]

apart from what is mentioned below. sharia law makes it cumpolsary for the leaders to be elected,

No punishment can be given unless the court rules it any prior punishment even for interogation is prohibited

A alleged criminal cannot be put behind bars nor placed under house arrest

Capital Punishment only in the case of Rape, ADultry or Murder

All non-Muslims are Citizens and they are to be taken care of directly by the Goverment and have the right to their seperate electorates

[sunisastar]

Sharia Law is not what the Media Promotes you should Read the Sharia Law where

1.If a poor person steals he cannot be harmed since its the states responsibility to help him in a business and help him establish himself

2.the President and the leaders cannot have Guards at their homes and must live at a level equal to the lower middle class with no special previlages, no expensive cars nothing

3.The Leaders and their Laws can be challenged by any person in any court and they have to comply

[crock703]

If the poor cannot be charged with theft, and it is the states responsibility to assist that person... what is the incentive for that person to use the help and not just rely on the state? Just the shame of being poor and dependent?

I'm really curious and hope you'll respond. If I am right about the shame thing, it seems that this creates a dangerous problem. Poverty becomes shameful, and wealth honorable.

[135petition]

I am not Muslim, but I think this type of banking system is very interesting. While I don't ever want to live under Sharia law, I think Americans should have the choice of using this type of system, which avoids the immorality and instability of the fractional reserve system. I like the idea of full-reserve banking and shared risk between the bank and customer.

[upfran]

i hope u seek the right bank in which islam is the way of life. Islam is not what most media post them as bad.

[crock703]

Can non-muslims use the banks? If not, is it Sharia Law that prohibits non-muslims from using it, or just the bank's unique bylaws/rules?

[Ezzedeen01]

Non-Muslims are completely free to use Sharia based banking. Same with halal (muslim kosher) meat.

Where i live, we don't have a lots of Muslims and so only 1 out of the 3 grocery stores sells halal meat.

Theirs never enough and the area where its located is always empty. I guess because the STRICT method of handling and processing meat in Islam appeals to people who are afraid of getting E. coli or other viruses from contaminated meat.

[DawnsNighmare]

Oh... you must live in Canada. That's right, you do!!

[cmonpeeps]

@135petition Well christianity is supposed to forbid usury as well. But, there is a separation between church and state so that's how the crooks can do what they do. In most islamic countries, there is not that separation. Sharia law and islam is not a religion; it's a way of life.