Islamic Banking - Your VIEWS !

[Gilly]

I invested some of my pension into Islamic-compliant shares a few months ago. They have produced a good return thus far.

So the returns you gained, where did that come from and from whom?.

 

[Kianig89]

Here in Pakistan, they can't satisfy you on how are they Islamic and top of that their returns are less than conventional products

 

[sweep_shot]

There was an initiative in Netherlands. An interest-free bank. The project was called "Bank of Joy" (link: https://bofjoy.net/).

Founders of this project weren't Muslims. They were Christians.

I don't know the current status though.

 

[sweep_shot]

There was an initiative in Netherlands. An interest-free bank. The project was called "Bank of Joy" (link: https://bofjoy.net/).

Founders of this project weren't Muslims. They were Christians.

I don't know the current status though.

Anyway, just checked their social media page. It seems like they aren't very active. The project doesn't seem active anymore.

 

[Major]

dumbest thing to have existed.

Without interest, inflation would be over the roof and could never be controlled especially if its from the demand side.

Our former finance minister Shabbar Zaidi gave a very good response to this dumb concept that you cant associate a banking system to a religion. And even if you want to implement this absurd thing, go ahead try it. Do further damage to the country, at the end, you will still take a uturn back to the proper banking system.

Anyone with knowledge on basic economics knows how important interest rates are

 

[Cricket Warrior]

Our former finance minister Shabbar Zaidi

by the way he was the FBR Chairman not Finance Minister

 

[Major]

by the way he was the FBR Chairman not Finance Minister

He did held some post in ministry of finance as a care taker though.

 

[uppercut]

Why does Pakistan take large loans from external non-islamic sources at a very heavy interest rate year after year?

Never understood that position from a self proclaimed Islamic Country.

 

[MenInG]

Why does Pakistan take large loans from external non-islamic sources at a very heavy interest rate year after year?

Never understood that position from a self proclaimed Islamic Country.

Because Islamic sources also use Dollars for their financing.

Islamic or not, no one will give you free money.

 

[uppercut]

Islamic or not, no one will give you free money.

But Pakistan can always refuse to take loans ... i.e if they were truly a real theocratic country. Looks like the rulers don't believe in going by the letter of the religious doctrine that they have sold to the masses.