Islamic Finance
Islamic Finance questions and answers
Find more information on the Islamic Religion @ The Adherents Religion Website.
Q: what are the major problems of Sukuk in the Islamic finance?
problems, deficits, and how to enhance it
A: The biggest problem for Sukuk is legitimacy. Recently, it was estimated that over 80% of Sukuk were not Shariah compliant. Beyond legitimacy, securitized assets that meet criteria are not as readily available in this part of the world.
Q: What procedures are followed in islamic banking.How do they finance without interest?
A: This is a very informative site on Islamic banking:
http://en.wikipedia.org/wiki/Islamic_banking
One example it gives says that in the case of a mortgage, because they forbid charging of interest, the bank might buy the house itself and sell it to the buyer for a profit.
The site should give you the info you're looking for.
Q: Where can i study MSc or MA in Islamic Finance & Banking In UK University ?
A: Check the link below.
Q: I am not an expert,I want to know if Islamic finance is the answer to the actual financial global crisis.?
A: Nope.
Islamic finance is just basically banking with alot of rules.
What was mentioned above by the previous contributor is what we call 'riba', or no interest.
To get around it, banks use this technique of buying the product for the customer and selling to them at a profit; and asking the customer to pay bit by bit in the process. (Muhabarah)
It has little or nothing to do with the global financial crisis.
Q: By accepting Islamic Finance System are we muslims fooling our selvs because it is other way around!?
In somany countries like UAE, SAUDI ARABIA and many more muslim countries are opting for these institutions to open their islamic windows or complete sharia compliance banking but when you look in detailed manner you will find that these banks are actually fooling you charging more interest rates than conventional banking system kill you ! since it's got name sharia most of the muslims are investing in it you can ask their experiences it's so bad, actually what quran is saying is don't charge any intrest, if you want to help give zakat, sadaqa, qairaat no muslim will be poorer, o.k. we think practically and shellfishly live Islam behind just to show world that we are muslims even then this banking system is wrong in my view we need to work out about the lending rates, so called service charges, admin charges, profit sharing etc.,
A: Appreciating the first responder, I agree with you. I did try to go into the details and found it very fishy. Unfortunately I had opted conventional loan then but all thanks be to Allah, now I have decided to buy whatever I can and not to take a loan at all.
There is a saying of the Prophet Muhammad PBUH in Riayd us Saliheen which suggests that there are few things in life which are clearly allowed and some clearly forbidden. Most are in the grey area and it is better for us to avoid them for our better future.
I strongly feel that finance business can not be run without dealing in interest at any level since the major finance insitutions in the world are run by agencies which have no interests in avoiding interest. Based on this all these companies calling islamic banking are likely just going around in circles to make more money.
may Allah guide us all on the straight path, amin
Q: What is Islamic Finance?
A: Islamic Finance normally refers to investing funds or borrowing funds in a Shariah Compliant way.
Shariah Compliant refers to doing something in accordance with Islamic Law and following the rules that are in place.
And Allah knows best!
Q: Can anyone tell me why Islamic Finance 101 is being held by the U.S. Dept. of Treasury?
For those of you who voted for change...why is it any concern here in the good ol' U.S. about "fatwas issued by Shariah boards"?
Art do you think I would have asked the question if I did not? Of course I understand the issues here that is why I am posting a question about it.
Here is the link:
http://www.saneworks.us/uploads/news/applications/7.pdf
A: Considering how deeply the US has been involved in the Mideast for the past few years, why would we NOT be concerned?
Q: what is islamic finance and islamic banking?
A: They keep your money.
Q: Is there possibility Islamic World financing and bribing the American media to beck Barack Hussein Obama?
A: ~~Please! You are getting your information from emails, and bogus commercials. Do not be a sheep. Educate yourself on the man, and you will no longer fear him.~~
www.barackobama.com
Q: Should we be worried about Shariah Islamic Financing in our investment markets?
A: no,nothing to worry about
Q: Is Islamic banking involved in home finance?
A: check out some of the links below
Q: What is the difference between Islamic Banking/Financing and conventional banking/financing?
A: in islam ... interest is not allowed...although most of them do that... but in islamic way that is allowed.
especially when you put your money in bank for 5-10 years and simply get profit/interest ...that is not allowed...
because in our system.. it is said that the men should work hard to earn on their own...like business/trading or could be anything permissable business....
Q: Why The Government of India is not allowing the Interest Free Banking or Welfare banking (Islamic ) in India?
Interest free banking is the welfare banking {Islamic banking and finance} is only for the welfare of the human-being not like the conventional banking which creep the blood and life of the mankind. All banks and financial institutions all over the world opening their Islamic banking window; this is for the human kind not for a special community and Islam always taken care the welfare of mankind
A: Islamic banking is like all other Islamic principles--they are based on hearsay and faith and indoctrination, not based on true and tried methodology. Government of India is right.