Islamic Banking and Finance HSBC Amanah - Riyazi Farook

http://islamicfinanceandbanking.blogspot.com

Increasing Islamic banking

Islamic banking is seeing rapid expansion worldwide, with strong growth in the Middle East, Europe and South East Asia. Mohammed Ismaeel, Director Global Marketing, HSBC Amanah, says that many non-Muslims are also choosing Islamic products, with over half of HSBC Amanah's Asian customers being Chinese.

Category:

News & Politics

Tags:

• HSBC
• Amanah
• hsbcamanah
• islamic
• banking
• islamicbanking
• islamicfinance
• finance
• sharia
• compliant
• Mohammed
• Ismaeel
• bank

[bilalisb73]

this is not real islamic banking.

[madina55]

Here is the danger: People using the name "Islamic, or sharia'" to suit their desires. If you are going to charge or get the lender pay back more than he/she actually took, then what's so Islamic about this? Same difference as the kaffir banking if that's the case. Riba in small or big amount has nothing Islamic about it. Many banks today unfortunately do this and call is Islamic back. SHAME SHAME.

[tumbirs]

If I want to buy a house, I ask someone to buy it for me, I pay back in 10 years and want to live there aswell. Now I have to pay rent to stay, pay maintenance, local tax and employ his services as I dont own it yet and ontop of that I have to buy the house from him in 10 years.

Does this mean it is Usary or Riba?

[kaydoy15]

its a cover up for riba, HSBC is bank like all the other banks built upon riba. I suggest to everybody that they should research throughly before purchasing any products sold by any of these so called Islamic banks.

[markazislam1]

ninteresting

[chaosbringer127]

loans are supposed to be favors, not profits. The nation should have a system whereby you can obtain a loan and it must be paid back in X-time, etc.

[sossow1]

i suggest that you guys read more about how islamic banking goes then compare it to conventional banking.. it is totally different..

i've worked in HSBC and Islamic products share risk between both the bank and the customer...

they use Trading instead of interest!

so instead of spreading false comments about this system, gain more knowledge about it!

[hamidmushtaq]

very true madina55! this islamic banking is just earning interest with a different name. If you read their contracts, you can clearly see they are unislamic. Prophet Muhammad forbid selling a thing which one do not own. But Islamic banks only buy a thing when they know customer will buy and they even guarantee it by either having a downpayment or asking the customer to compensate for losses in case he do not buy the thing after the bank purchased it. How is it Islamic! Its fraud!