Meltdown turns spotlight on Islamic finance - 22 April 09

[SpaceTimeContinuums]

Support the Islamic Bank Of Britain (IBB)

Buy IBB stock on the LSE

[HijabifiedModesty]

Everything Islam (The Noble Quran ) promotes ends up being right . These are signs from God , yet ppl tend to ignore.Islam is a way of life. Like Hijab , ppl in the west think its opression to dress modestly.Its the epitome of modesty, the head covering. Mary the mother of Christ wore head covering. It gives tremendous respect and guys take you seriously. Alcohol , Islam is the only religion that completely stricts any use of alcohol other than medicine. There is more, this is the straight path.

[Droomjacher]

fuck the jewish bankers

western jewish bankers are fucking up the world

[hELLAsShining]

I am in favor of every nation controlling it's own money supply, with a gold or silver standard, no fiat currency and NO JEWISH BANKSTERS charging interest for every dollar printed!!!

[FarangBalls]

This method of banking is too honest for the West. Our elites can't make trillions of fake dollars under Islamic Banking.

[Droomjacher]

you 100% right

[sumairs2]

Today We are in Jewsih Banking system, We have seen its collapses after every 20 years once you can check history, Collapse accurs when someone nicksup the whole Trillions dollars of poor Americans /British or Pakistani tax payers and records remains clean.

Top ranked People in Govt of US is involved in these scams ,without their support its impossible,FEDREL RESERVE BANK does it its Privitly Owned Runned US bank which has the right to degrade or upgrade currency system without Transparency.

[bashir0810]

once again it not about religions it about get rid of interests. if u dont know anything about islam keeps your mouth shut.christians,muslims or jews we are all the same only god can judge anyone

[humbalshah]

Bashir there is hell of difference b/w christians, muslims and jews....if you dont know much about your own religion how come you judge all religions with each other...

[bashir0810]

we muslims believe in jesus we called him hanabih issa we believe in the holy bible the old testament s and the holy quaran is very similarity.i went to christian school i luv christian half my family is christian i will defend christian as i'll defend muslims depending on their actions.i dont hate any religions coz i didnt formed them i respect every religion jews,muslims christian except hindus coa they worshipped images

[minnocent2008]

@humbalshah you said well, some people r just name of muslim, and try to fit in which they r nt, im sure he (bashir) arnt a muslim, sometimes these people just butt in nd call their self who they r nt, unfortunatly

[zoomer33]

I agree with xtlhogciao, who cares what religion it is, I only care that it is SOUND lending.

[EncompassedRunner]

LOL..."it's ethical banking"...important topic, but serious guile going on in this vid

[Machhour1]

the guy at 1:02 is an IDIOT! are you serious? Take the islamic banking out of it????? THATS WHAT IT IS! ISLAMIC because it comes from islamic Religion!!

[hamachikama]

absolutely...i completely agree with you :)

[Machhour1]

THANK YOU, I mean finally a person who has a clear mind.

[salamuun]

@Machhour1 u sound like a terrorist, extremist. The guy meant to say that if someone did not know it was called islamic banking they would probably have identified it as 'Ethical Banking'.

Extremist like you Machhour ruin the good name of Muslims.

[xtlhogciao]

i have no intersest in what your religion is. muslims are no different than christians or jews or anyone else in my opinion. i really don't care.

getting out of the recession is what i care about.

[SoCalstylez858]

u should because jews run on charging interest on non-jews. not to themselves. read up on jewish talmud and torah.

[stockshunter]

@SoCalstylez858 be careful dude, or else you are labelled 'anti-semetist'

[bashir0810]

i lived in america so i know wht im talking about everything here it all about interest so it not about religion it about abolising interest u guys need to know wht u talking about before u even mention any thing.i dont think some of u have no knowledge of banking system.tell me

where can u get a home then u cant afford it no more, u will lose everything,but the islamic system u will not lose everything u will get something back

[gffran]

the bank is an economical order in society to maintain social order

[gffran]

Because every believer give zakat sadaqat and khairat to baitul mal for poor people when he is fit to pay the zakaat

And in case of any accidents the members who pay zakat can get loans from the same bank to continue their life by fulfulling their basic needs

so the member only can take and pay the loans without interests

this bank is not suitable for non-believer

[gffran]

We say baitul maal for bank and bank is actully an islamic term 

But We call it today islamic bank to separate the type of bank from non-interests banks

Because today all over the world banks are based on interests

The baitul maal (bank) Where every muslim stores 2.5 % of his incom per year

There are no other types of taxes except zakaat for him per year

It is the system of banking for believers only not for non-believers who believes in interest based banking system

[Donninator1]

assets are the gold or silver kiddo...

assets means anything of value. by definition..

catch up!

[xtlhogciao]

religion shouldn't be brought into this. it's strictly about banking methods. even if we end up keeping interest in the system and we don't go with the way they make loans, at least looking into islamic banking made us question whether what we are doing now is the best way. it may change nothing, or it could make us realize that we should tweak at least one small thing. at least we're making an effort to make our methods better.

[Abdoullah111]

religion is in everything

but people makes it not

at the end going back to what religon says

it always end up good :)

[xtlhogciao]

i have to say that i disagree with what religion says always ends up good while also agreeing with you that people make it fail.

if you look at all of the religions, we all have one thing in common. BE GOOD, SERVE GOD.

well everyone has their own interpretation of what is good and what's wrong depending on how they were raised. the word "islam" was used in this video and people decided to argue over religion instead of the point of the video. people suffering due to the economy

[xtlhogciao]

i'm aware that what i just said was terrible grammar and i hope that the point i was trying to make got through. i ran out of characers, but when i said "be good serve god", i wanted to add that i don't need religion to know that being nice to your peers is obvious. the rumor obama is a secret muslim is ridiculous to me. even if it is true, who cares? as long as he loves the country. andy griffith can't run the country forever

and we're not a christian nation. we're a free nation.

[Abdoullah111]

man islam is not like other religons in islam (( lending people money and then get it more is a HUGE SIN to the lender and the guy got the lend (( bad grammar i know )) - )) that's why our banking system is diffrent and its succefull Islam is not religon were u pray once a week we pray 5 times everyday man Islam is a religon and way of life as u see it in the media , u gonna hate it ofc because media = LIES media always show the good bad and the bad good

[nazirdjon]

i think Abdullah was meaning his religion (which in this case is Islam). Now for a Western person it's hard to understand why, but for those who were born as Muslims, sticking to the principles of Islam not only helps to maintain a discpline but being righteous in daily life.(i'm talking of my own experience here).

May be that's what Abdullah was meaning. experience).

[Abdoullah111]

yeah man everything islam says end up good

Wearing hijab U R LIKE

IT TAKES THE WOMEN FREEDOM SHE WON'T HAVE FUN ITS STUPID ITS NOT FAIR WOMEN JUST WEAR IT

but man hijab and way of how muslim women are raised

did end up with SO SO MUCH LESS ADULTRY which brings up deadly diseases

and alchohol

man u already know what alchohol causes from diseases and fights and car accident

while the pope and churge father

says drink whine its jesus blood

i dont mean to give u a class but am bored ;p

[nazirdjon]

xtlhogciao:

it's not about religion. it's about maintaining a fair system of banking principles, not based on 1 way interest principle. if interested make ur research ab it

[crimsoncoin]

comment removed okay losers, i unsub cya this is pure bs in the money market and aljazeer your reputation is afore you, cranks but know cranks

[bashir0810]

the islamic system works like this,when u loan to buy a home,if u cant afford the home no more, they will sell the house and whtever u have spend on the house will be given back to u,basically u no one lose,lie people are losing their home they no getting nothing back,so use the islamic method no more interest it tht simple

[bashir0810]

when it comes to telling truth nobody wanna hears it coz it doesnt feels good.muslims are not arrogant , islam teach us ignorance or arrogance is not accepted and all muslims should treat their neighbour with respect even if they are non muslims .i 'll defend islam as i'll defend united states of america this is my home

[bashir0810]

this is not about islam, it is the teaching ,method and prinicipals of islam

dont take it personal if banks in the west appilesand implements wht islam teach us when it come to loan money, everyone will be benefits for it .coz their prinicipal will benefit mankind stupid

[Simirial]

It does not matter about the intricate details how the loans are made, when the currencies being used are all fiat, and have interest and inflation attached to them the at the moment of creation. Worse yet, only 10% of the debt is actually circulating in the markets, making it impossible for all to pay the loans as contracted

[bashir0810]

we muslims dont not argue with others about religions,if u christian keep to ur religons and we muslim keep to ur religion as it states in the quaran al kafiroon

i think the islamic banking system is the best system coz it benefits the banks and the lender it not about christian or muslim it about doing the right things to help manking including all religions in this world it is the teaching and principles of islam benefiting manking,regardless of your religion.banks in the west got greedy ,

[azharaliahmed]

You can never have something like ethical banking, without the principles of Islam. Without the principles of Islam who will define ethical banking?. Do we expect the CEOs and financial corporations to act ethically. Therefore the only solution is Islamic banking and not ethical banking

[mieroth]

Oh, get over it. Ethical banking is completely possible without Islam, and will be even more successful. What do you mean who? The IASC defines standards for international accounting and there's no reason why another department can't be created to deal with general ethical guidelines. Fact of the matter is that non-muslims don't care about rules in Islam (which may shock you, I know). -.-

[audadvnc]

"Ethical banking"? Isn't that an impossibility? The whole goal of Western banking is the enslavement of the economy to the whims of the ruling class.

[LikeAPossum]

Anti-progress is not a solution.

[regulate112]

Islam is the only religion that is also a complete way of life - incorporating everything from prayer, family laws, financial regulations, inheritance, ethics of war, human rights, politics, morals etc...

[nikolaypopov]

If christianity was't weak, it would have been the same here too, fortunetly it is.

[regulate112]

Christianity is weak, because it is incomplete. It can not offer people and society what Islam can.

[mieroth]

And this is the problem with many muslims. Arrogance. It's why many people believe practicing muslims can never live peacefully in non-muslim societies. People who don't give a shit about human law and only follow God's law will cause problems.

[nazirdjon]

dude you know nothing about Islam. if you're confusing human rights and "god's rights". all you know is cnn's islam, and your superstitions about Muslims. Get over it, not all fingers are equal

[mieroth]

What? CNN's Islam is all about suicide bombers. You want to paint me as ignorant, but I'm not. I know perfectly well that Islam says not to kill, and that suicide bombers are not real muslims. What I am saying is that Islam is a way of life with a system of rules. True muslims put sharia law above human law. And someone who puts their beliefs above Western law is not compatible with the West. Mohammed cartoons, anyone?

[mieroth]

I will fight for freedom of speech. =)

I may not agree with what you say, but I will defend to the death your right to say it. - Voltaire

[GasGuzzler14]

descrimination of homosexuals, unequal rights of women...

[Tareq88]

Islam is here to stay, whether you like it or not, kafir.

[motafaker1989]

uequal rights of women are in every religion and every society...it is hallarious to think women and men are equal in everything.... women are attracted to men and men are attracted to women.. women get pregnant... do u see the paradox? islam uplifted the status of women more than any religion a

[motafaker1989]

moreover, i study in the US and my teacher is an athiest and she said that.... plus homosexuals deserve to be corrected..... homosexuality is awkwardness, disorder and is discusting

[Symian27]

The Sumerians practised usury but had a 'clean slate' policy in which new rulers cancelled the economic imbalances that had built up in the previous cycle. The practice of usury in the ancient Mediterranean world spread from this earlier model, but without the 'clean slate' aspect. The response of the Torah, the New Testament and the Qur'an to usury was to ban it, since it is against God's law and causes great suffering to mankind. Western leaders were arrogant and did not listen to this advice.

[hendep]

now... they turn it into a religion thing huh>

[reprimand33]

Like he said sub prime mortgages would have been consider to be an asset so it would have prevailed, notwithstanding not on such a large scale!! This report had his own opinion and he had already decided that this system of baking would have been better for the audience!! Not ethical journalism

[PATHtoVICTORY]

because they all are puppet lol!

[sinitskyd]

If fiat money forbidden by Islam? Then why the hell muslim countries hoard green Federal Reserve notes?

[samin62]

since when in last 100 years muslim countries been following Islamic Law? did you forget we lost all our lands to the west and then got "Liberated"?

[rehanwaris]

Mashallah!

Well I am spending this weekend doing research on IB.

Take care brothers!

[OrphanPaper]

ethics would have saved the westen banks , and oversight and a leagel framwork ,

[KingAssmar]

I saw the real news do a story on Canadian banks, who are also fucking turning (high/normal) profits. They weren't crooked either, just us, and all those other dumb fucks who follow us.

[jamesappleridge]

the middle east is awash in oil money, what did they do with it? did they free palistine no, did they build factories to support the local industry thus creating jobs no, did the build schools and an education system no

but they bought a lot of guns and golden toilets

good lord whats wrong with planet?

jimmy

[Tareq88]

The oil-rich nations have free healthcare, free college education, constructing schools and diversifying their economies to become less reliant on oil exports. Today over 100,000 students from these oil-rich nations are able to study in the best Universities in the world.

Regarding Palestine, they're not the ones who demolish Palestinian homes or force Palestinians out of their homes at gun point, but they could have done more and annihilate Israel once and for all.

[jamesappleridge]

if this is true, then Somalia is a made up place in hollywood, and dafur is just a running passion play from bollywood, islamic states? IT is not places, it is not religion, it is men, men living on the backs and sweat of their brothers, one man stands in a temple and says god says this or god is against that, while his brother who has the same god goes without? i don't understand

i have learned there are plenty to point and blame, but so few to say i have a better way,

i am sad

jimmy

[Pillat07]

Well put,

It's a shame, the propaganda spread about Islam is itself hurting the Western world.

[micahgee]

Yea, this is why I watch Al-Jazeera!

This kind of thing would never be shown on the US mainstream media.

[yunaas101]

@jamesappleridge arabs are stupid

[HijabifiedModesty]

@jamesappleridge  Salaam , well said . Materialism has replaced faith amongst us Muslims.

[prosvjeta]

max keiser has been endorsing islamic banking for a long period of time.

watch?v=unlmo6RSYiY

watch?v=WMUN9I0VMok

[jased30]

I like the ideas in this video.

[patwsr]

wow I never had a serious thought about this Islamic Banking system. Now this video will change me for sure.

[crimsoncoin]

bollox give me my interest, okay, then also fuck you money, mine etc if an indervidual profits frm a loan thats the indaviduals cash, i would hit the roof and thats why arabs invest with western banks, i dislike the arab way of credit union, bad lending needs good insurance for lenders

[moriscolatino]

and people like you are the reason we're in this mess in the first place.

[crimsoncoin]

your saying, no inerest on deposits, say you won a lottery or inherited or simply saved by going without, while the bankers use your money to create loans, and there by share that profit with you, wake up....Our problem is inflation because you pay more for things and devalue cos it aint worth a carrot, like the housing crash

[akamal1113]

Truly, the Revelation of the Quran causes anguish to the disbelievers.

Allah Huakbar, Allah Huakbar, Allah Huakbar.

[truthscavenger]

islamic bankers don't steal money like usury aka jewery.

fuck da european looters.

[1reimhard]

we dont need an islamic bank, we just need to end the FED!

[nekrad23]

And we have to elminate and strictly forbid derivatives !

If you try to issue, trade or enforce derivatives, you directly go to Leavenworth, without going through the startfield, without getting a paycheck.

End that hyper criminals !

End that mass murdering 1.5 trillion bankster bailout !

[minstral2]

Who owns the Banks? Are they public or are they private. If they are private then it will not work, because a very few people will have ownership in everything...just like Western Banking. The only way for it to work is for the Banks to be Nationalized and also have the system of paying a fee rather than compound interest.

[minstral2]

If the Banks were nationalized and the people given equal shares, then we would be free of greed and everyone would prosper. Above all else, remove the compound interest!

[PersonOfBook]

@minstral2 great dude! you think in the same way as I think! Remove this Islamic or conventional bank shit and nationalize the monetary system! If you wanna lend, lend without interest!

[nekrad23]

The major problem with "our" western banks is that they're allowed to issue their own money - giro money - out of nothing.

They loot the whole world by rapidly inflating the major currencies.

This has to be federal crime.

Put these criminals and eugenics like Rockefeller, Rothschildt, Morgan, Kopper, etc into working camps, so that they're learning what do did to the whole world!

[minstral2]

I agree, the fractional reserve banking system is the problem. The fact that it is privately owned makes it diabolical and evil. I think the central banks need to be nationalized where everyone becomes a shareholder and then all the Banksters should be rounded up and forced to spend a year, with no money, in worse economically hit area of Detroit...let them live in the squalor they have created!

[nekrad23]

You mean, each single citizen has an equal share on the central bank ?

That's an very interesting concept, giving everybody a kind of "national divident".