Spotlight: Islamic Banking System

In times of financial crisis there is an alternative banking system, which has proved to be more stable, than the traditional, Western banking system. I mean - the Islamic banking. The financial systems in the Islamic countries, even in those, who were formerly Soviet republics - like Kazakhstan - are a real alternative, while the Russian business and science lacks necessary knowledge to adapt its finance to the severe conditions of the crisis.
We will be discussing this issue with our guests the Head of the Russian Islamic Committee Geidar Jemal and Financial analyst Sergey Aleksashenko.

Category:

People & Blogs

Tags:

• financial
• crisis
• alternative
• banking
• system
• Islamic
• business
• Geidar
• Jemal
• Financial
• analyst
• Sergey
• Aleksashenko

[nilo723]

i guess we should try Islamic Banking once..

coz everybody is fed up of the Federal Reserve..

[Koshkesh88]

Perhaps we should insert the old christian bank that was similar to islamic bank. The jews ruined the whole idea of banking thanks to people like Rotschild!

[makeiteasyable]

good for Islamic people ^^

[IndianPrince04]

@davidshazusa Either way, they will fund international terrorists like Bin Laden and find ways to funnel billions of dollars to his bank account.. yeah very islamic.

[davidshazusa]

Islam is against Private Banks or Banking system, only State / Governments allow to own Banks and Interest / Riba / Compound Interest is not allowed in Islamic Government Banks, so no taking advantage of Loan taken by poor people

[ltmikepowell]

If I'm not mistaken, Islamic financial and economy system has dictated that the wealth and value must backed by golds/silvers or any real, hard commodities, just as Quran has preached.

[ltmikepowell]

@4werr0n3 And yes, my country also got lots of banks that have Islamic banking system. Unfortunately, we are still in one piece, alive and kicking. If U.S. Dollars does collapse, my country still can grow, make or even mine things to sell to others.

Go and beg more fiat money while it's still got value. You earned it anyway.

[adahbache]

@4werr0n3 lol ok i think im wasting my time here. i dont think you understand much of what is being said or how the world works. If you want to chat in private then im happy to talk. Otherwise need to bid you good bye.

[4werr0n3]

@adahbache

Well if " no "ISLAMIC" country actually practices "ISLAMIC" banking" then what's the point in calling yourself a "Muslim" or living in a "Muslim" state, when 99% of your co-believers commit lipservice on a daily basis ? It seems like anyone can call himself a "Muslim" once he becomes a practicing munafiq huh ? Nothing against the holy Quran and genuine Muslims but to me that's an odd mindset well deserving the label hipocricy, hope you can follow.

[adahbache]

@4werr0n3 ummm rrriighhhttttt.. you seem VERY educated. So people growing opium in afghanistan translates to islam being hypocrital... geez thats very mature and brave of you to embaress yourself like this in public.

Buddy do you actually know anything about Islam? want to talk in private and have a chat?

[adahbache]

@4werr0n3 LOL you dont really have a clue about the world do you? You have generalised almost 1/4 of the worlds population.

And buddy FYI - no "ISLAMIC" country actually practices "ISLAMIC" banking. I work for the lagest bank in saudi arabia and trust me it aint islamic. Its the western system disguised with pretty islamic words. Buddy dont be so quick to judge, learn Islam for yourself not from your good mate the TV

[IC1101]

@4werr0n3 All those countries that you mentioned are not suffering because of ''Islamic banking''... ironically that might be one of few right things about their economies. Islamic banking haven't been tried yet, dont dismiss it because of your prejudice about muslims.