Islamic Bank
Islamic Bank questions and answers
Find more information on the Islamic Religion @ The Adherents Religion Website.
Q: By paying Zakat only, is it sufficient for islamic bank to achieve religious objectives?
A: An Islamic Bank is not for Zakat
Islamic Bank is like a big Broker that will venture business with you in equal conditions
you see Usury banks are the worst exploitation to Humanity ever.
Though they make it easy for you to get money but they do not share loses and they are mean with profits
while an Islamic bank is more strict in giving money is because it will share the losses and will give fair profits
just as if you and I open a company and do a project together.
Q: Can two men have a joint account in the Islamic Bank of Britain?
A: They can if they are both good looking and quite fit!
Q: What are the banks that offer Islamic finance Options in India or UAE?
Am residing in Dubai. I want to know any bank in India is offering NRI home loans offering Islamic (Murabaha) financing options? Islamic Banks here in th UAE which has this option does not seem to finance for home purchase abroad (in India) . Is there any bank here in UAE which offers this??Please help..
A: Why don't you check HSBC Amanah. It's the Islamic banking division of HSBC.
www.hsbcamanah.com
Q: Why people (Muslims and Muslims) are willing to be interested in Islamic Banking Services?
1- Why people (Muslims and Muslims) are willing to be interested in Islamic Banking Services instead of the conventional ones?
2- And why is it important for Non Muslim countries to comply to the Sharia'a Law, if it has already a good banking or financial system?
3- How countries should rally and work together to make the Sharia Compliant desirable for both the government and people?
Why people (Muslims and Non Muslims) are willing to be interested in Islamic Banking Services instead of the conventional ones?
A: Conventional banking has shown itself to be a greedy, rapacious monster incapable of handling it's own affairs. Islamic banking is based on the principles that it's immoral to lend money at interest, and that it's immoral to profit from dishonest and irreligious practices, even at a distance.
Christianity contains the same instructions, which is why traditionally the Jewish people in Northern Europe formed the majority of money lenders - because Christians were forbidden to lend at interest, they essentially forced the Jewish population to do it for them.
Organised international banking is essentially a parasite on society, existing solely to profit from the inadequacies of the exchange system. Islamic banking, in common with other attempts at ethical banking practices, represents an attempt to address this problem while recognising the need for banks, and of the necessity of access to capital for society.
He lends at usury and takes excessive interest. Will such a man live? He will not! Because he has done all these detestable things, he will surely be put to death and his blood will be on his own head. (Ezekiel 18:13)
If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest. (Exodus 22:25)
Q: prices in dubai islamic bank?
what are the real causes of stock prices of dubai islamic bank or in business in general... when the prices went really down the last six months...
please help me in this question
A: global financial crisis
Q: can you give list of true islamic banks riba free according to quran and sunnah?
its very hard to build new house and a good car at once, please give me list of islamic banks which are really riba free.
A: no
Q: Is there any halal/Islamic bank in USA?
I am saving up money every month in an interest free account. I have a few grands there and I was thinking if I put the money in traditional interest account I could probably earn some more every year. But bank interest is not allowed. I was wondering what could be a halal way to invest this unused money (not enough money to start any business tho).
BTW, earnings from Islamic banks, which run under Shariah, is Halal. I'd appreciate your answers/comments/suggestions. Thanks and May Allah bless you all.
ummB, when I opened my account, I told the rep that make sure I'm getting an interest free account. It's Astoria Bank.
A: put it in a non-interest bearing checking account. you will have no problem finding one of those.
Q: How does Islamic banking work?
Can somebody please explain to me how Islamic banks work and how they avoid riba? Thank you very much! Jizakallah khairen!
A: Well, here's the IBNI website:
Q: how much the local and foreign islamic bank in malaysia?who knows the answer?
A: in fact there r many major local banks have the islamic banks within them(under the same banking building) like maybank,cimb,public bank,etc.foreign bank like standard chartered bank,hsbc,ocbc,uob,hongleong bank,etc.have these types of facilities too.
Q: Islamic banks who follow sharia law are they the most secure banks around today?
I see on the BBC New Islamic banks are doing very well because they do don,t over stretch themselves and follow certain rules do you have to be a Muslim to open an account
A: May be they got lot of accounts from people with lot of oil money.
Q: i want to invest money in an islamic bank . which is the best islamic bank in pakistan?
A: there are no investment banks. interest is against the law, is it not? is this question a taunt?
Q: What do you think of Islamic funds/banks ?
what do you think is a Islamic bank fund and do you think it has a potential for expansion to non Islamic country's.
if you need more clarification to what is a Islamic fund please ask!
same question is in the personal finance section if you like to answer on a personal level.
And i beg you don't make this into a hate post!
A: I agree with the first poster. Its quite hard to run an islamic bank ad funds too because their source of money have to be 'halal', as in free from alcohol and pork and anything prohibited in islam.
and yeah, the interest free banking is really appealling. i think they do it to actually help people and not to gain profit.
can non muslims apply for a loan in islamic banking too?
Q: Islamic banking. In which site can i learn about the procedures, rates, comparison with the western banking?
Guys help me! So much information about islamic banking, but only theory! Give me a site with numbers. if there is no interest, how the islamic banks charge you.
A: Interesting question. Here are some links I found:
http://en.wikipedia.org/wiki/Islamic_banking
http://www.islamic-banking.com/ibanking/index.php
http://www.socialedge.org/resources/edge-wiki/IntroToIslamicBanking
http://www.videosift.com/video/Applying-Religion-to-Economics-Islamic-Banking-Finance
And an previously asked question and their answers:
http://answers.yahoo.com/question/index?qid=20071027165854AAvGlZf
Hope this helps.
-N
Q: What are the problems or the deficits that are critical in the Islamic Financial or banking sectors?
If someone can clarify those problems, and if that one of them is critical to be discussed as PhD research, which needs a profound study of the Islamic Financial (Banking) sectors.
A: I would suggest you visit cimaglobal.com, a UK examining body of professional accountants. They are offering a course in Islamic Banking. If you were to study their syllabus you will get the basic idea of Islamic Banking.
In Pakistan the pioneer in Islamic Banking is Meezan Bank Limited. I do not its web address but you can goggle it. Also you can visit sbp.gov.pk, web site of the central bank of Pakistan. Here you will find the directives for Islamic Banking.
There are also UAE based banks such as Bank Al Islami, Dubai Islamic Bank, etc.
As far as I can recollect the basic problem is the name Islam which is dreaded by the westerners or non muslims. Again the traditional banks are based on interest (usury) which is against the Islamic Laws called Sharia. There has been a lot of discussion on the term usury.
Q: how much the Islamic bank in Somalia?
i dont know anything about it,please try to answer....
A: what do you ask?