Islamic Banking System Resists Financial Crisis

[Nebulous1982]

''Clear Solutions: the Muslim Response to Zeitgeist Addendum''.

[SpaceTimeContinuums]

Support the Islamic Bank Of Britain (IBB)

Buy IBB stock on the LSE

[TenderTrap86]

This is the main reason why the West is at war in the Islamic world. Muslims don't allow fractional reserve banking (creating money out of thin air) .

This is actually capitalism in it's truest form. Today, what we have is monopolism, not capitalism.

[timetochilli]

what we need a society not based on society. meaning realsocialism

[domandcaro]

looks like personal interest america needs to learn a thing or two

[sufiatheart]

I believe that Sharia banking theory is 100x better than the absolute and catastrophic FRAUD called Fractional Reserve Banking. The chosen people invented it, modern society mindlessly runs on it as if it's the undisputed law of gravity, and its central principal involves LOANING MONEY THAT DOES NOT EXIST IN PHYSICAL FORM AND THEN COLLECTING INTEREST (non-existent money, squared?) ON NON-EXISTENT MONEY.

Jesus condemned usery, but Christianity zionised. Islamic banking is rooted in reality.

[peacetilltheend]

thank you for the inspiring video I didn't know how islamic finance works but now i decided to study it and invest in their system. the conventional banks are mafias they have been sucking our blood for years now it is no longer victims

[aliggali]

LOL THATS MICROSOFT SAM

[mewoone]

oh, you mean anti-jewish ...

[MsCuriousCat]

This could be GOD at work, GOD so tired of all this HATE that had been shown to the world and he's changing this to let the wealthy and free feel what the not so wealthy and free had been feeling all this time while thet been enjoying their life and not thinking about others.

[MemoMaimunah]

where did you get the audo voice to read that?

[oclandestin]

Salaam, the report was an audio download from muslimmedianetwork. com (link in the info box). All their reports have this automated voice.

[unknownjackal]

Interesting .........

[dangergodboy]

how is christianity an abrahamic faith when they only believe in paul

[vagabond4554]

You don't know much about Christianity then. We have both the old and new testaments. One does not contradict the other.

[dangergodboy]

offcourse i never said u have tht havent got both the testament but the thing is christianity is influenced by paul because paul's techings are followed not jesus'

[quebicboy]

christianity is an abrahamic faith

by the way im not christian

[simpleOgre]

Well, they believe in Abraham but they don't believe in the commandments. If they do the commandments they are following Abrahamic religion otherwise it is just same as Hinduism and any other idol worshiping religion.

[veriappelsiini]

...You need to give the collateral to the bank in order to get the loan for lower interest rate.

[Libyafor2010]

Allahu Akbar we need you sharia law

[9343105697]

BY saying your religion had mentioned 1+1 =2 , 1400 years back doest make you a mathematic genius , economics is too complicated and evolving for any one rule to be applicable for a couple of decades , let alone 1000 years.

[oclandestin]

Well the principles and guidelines are still working, and provide a sound ethical framework for financial dealings, so that speaks for itself.

[alphamain]

I'm proud of the current Islamic Banking system all over the world...however, we must becareful so that we only support Islamic Banking as long as it is not doing some dubious activities...support with conditions as opposed to unconditional support. Peace.

[PersonOfBook]

@oclandestin Islamic banks have nothing to do with Islam. They charge interest but call it other names. Any kind of banking is unislamic, just like any kind of beer is unislamic!

[oclandestin]

@PersonOfBook ... There's nothing unIslamic about banks or banking as long as the bank complies with Shariah principles. Islamic banks don't charge interest or usury. You should check the policies of Islamic banks. If they're Shariah-compliant they explain the banking procedures and all are checked by Islamic scholars, something you're clearly not.

[PersonOfBook]

@oclandestin No it is not Islamic. I've done research on them. They just hide interest. Many scholars also speak against Islamic banks. They maybe following Shariah by letter but not by spirit. It is similar to a man marrying a woman with the intent of divorcing her. Now according to letter, the marriage is valid, but in the eyes of Allah, it is not! Same with Islamic banks. They are just fraud, even worse than conventional ones, because they don't practice what they preach!

[oclandestin]

@PersonOfBook ... Just carry on keeping your money hidden under your mattress then. Meanwhile, learn about Islamic financial guidance.

[9343105697]

ok lets do some business , SO mr I KNOW EVERYTHING , clear my doubt on what does shariah have to say about public debt raised via bonds , external and internal soverign debt , cause here as per me its not applicable and will be a total failure,

P .S :- UAE ( Islamic country ) funded one of its bankrupt emirates DUBAI , by extending 10 billion $ @ 4%.

forget british people , make islamic states shariah compliant and atleast ask them to lend to their brothers free of int.

[oclandestin]

Watch the video and read up on Shariah finance via the links in the video info if you're really interested. As for the UAE, it's a Muslim country, not an "Islamic" country. That should be fairly evident by the western culture practised there. Most banks are not state run, so it's up to individual banks to set their own codes of conduct. Look up specific Islamic financial institutions and read their rules and regulations if you want to know more.

[Mezdazzma]

How do you mean, not an Islamic country? It's a theocracy out and out, and Islam is the official religion of the state as well as the majority religion - which makes it an Islamic country!

We don't have an equivalent for words like 'Christendom' which one would use for, say, the Netherlands or Denmark despite them being democratic monarchies, so 'Islamic' IS the proper word in this case.

[Mezdazzma]

Oh and by the way, having a multitude of religions, cultures and ethnicities does not inherently make a country unIslamic. MiddleAge Islamic empire was all about co-existence.

In any case, it is far less 'Islamic' to have a monarchy and tolerate it than to have whatever you call Western culture. What's ironic is that people wrap their aversion to the highly evolved, scary nature of globalisation in the garb of religion and get defensive.

You want pure societies, they don't exist anymore.

[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.

[oclandestin]

What alot of nonsense. There's nothing "racist" about Shariah compliant finance. Anyone can invest in Islamic banking. In fact alot of British Christians do because the Bible is also opposed to dealing in usury (interest). And considering Islamic finance is a safer investment than interest-based western banking systems, they are not going to need to be bailed out by taxpayers.

[nazirdjon]

i can't believe to be arrogant not to know details about Islamic Finance, meanwhile knowing Islam has perfect solutions . from now on i'm going to invest my time in the best way, leaving a purely Islamic Life

[donnie912]

We muslims already knew this,another proof (if we need one ) that islam is the truth.

[Capnwabbit]

Islamic law also states that only gold and silver should be considered real money (the "dina", pronounced deena).

I seem to recall the American founding fathers said something similar...

[theoriginalanomaly]

Do the banks leverage the money? Do they create new money? Are they granted monopolies?

[usman167]

They do leverage money and this is how money is created. Could you bit explain your questions regarding monoplies. I would like to answer this.

[theoriginalanomaly]

Is there another source of creating money other then what is under control of the centralized bank? It seems like a dumb question, but only because there are sadly no examples to bring up for competitive banking. Perhaps silver or gold notes? It makes sense to me, and seems to be more sensical. However I do not think you can morally justify allowing individuals the power of creating money. It seems like it is just a conservative way of doing the same thing however. Just different names.

[91SAMIR]

thats because islam is right

[oclandestin]

True, alhamdulillah : )

[91SAMIR]

baraka allahou fik oclandestin..

[oclandestin]

JazakAllah khair.

[diaverde09]

I like it

[oclandestin]

Thank you : )