Islamic Banking.

[BlackVelvet]

You know what would be the perfect way to save for that, ayuto; no interest, no taxes

If you find one that has been running for a while and by people you are comfortable with, it's perfect.

[grandpakhalif]

Islamic banking is a farce, an oxy moron.

[Tuushi]

You know what would be the perfect way to save for that, ayuto; no interest, no taxes

If you find one that has been running for a while and by people you are comfortable with, it's perfect.

I cant claim ayuuto on my taxes.

[SultanOrder]

I spoke with a sheikh, and the sheikh said any interest accrued from your accounts can be used to pay utilities such as rent, heating, electricity, or you can give it away as sadaqa.

[Alphanumeric]

I spoke with a sheikh, and the sheikh said any interest accrued from your accounts can be used to pay utilities such as rent, heating, electricity, or you can give it away as sadaqa.

I like this sheikh. I've got some questions to ask him about particular drugs. Would like his input.

[Tuushi]

[SultanOrder]

I spoke with a sheikh, and the sheikh said any interest accrued from your accounts can be used to pay utilities such as rent, heating, electricity, or you can give it away as sadaqa.

I like this sheikh. I've got some questions to ask him about particular drugs. Would like his input.

You just can't buy food or clothes? with it. Of course you are not allowed to charge interest.

[gurey25]

Islamic banking is a farce, an oxy moron.

you are one strange salafi, didnt you do your homework?

There is one thing common to your cults doctrine, they all support "Islamic Banks"
infact they have little problem with western banks which are the same thing.
In the 60's and 70's the Saudi government reacted violently to the appearance of the first "islamic Banks" in pakistan , UAE and Bahrain. This was because they had western banks and had no issues with them, but if you open a bannk with the label "islamic"
you make it look like they are not islamic in the first place.

They gave up in the 80's when their pressure did not work even on poor bahrain which depended on its banking industry, and they joined the band wagon.

[grandpakhalif]

Gurey, unfortunately they have been duped, Islamic banking as its known these days contains the very same interest xaram activities that occur in Western banks. In reality there is no basis for Islamic banks in shareecah because fiat currency relies on the trust of its people as its value while the Quranic prescribed dirham and dinaar both have intrinsic value.

This is why I believe "Islamic banking" aren't really Islamic at all.

Just because I follow the Salafi manhaj does not mean I don't think critically on certain issues effecting the Ummah today.

[Daff]

I spoke with a sheikh, and the sheikh said any interest accrued from your accounts can be used to pay utilities such as rent, heating, electricity, or you can give it away as sadaqa.

IHWE

It works if you are financially disciplined. My moto what goes in that acct doesn't come out. I cut up the atm card for the second ckn acct, the day i received it.

Tuushi
You can use my method for both short/long-term savings.

[Hyperactive]

I spoke with a sheikh, and the sheikh said any interest accrued from your accounts can be used to pay utilities such as rent, heating, electricity, or you can give it away as sadaqa.

lol you should ask him, if you can buy car, house, travel etc.

innallilah! it's either halal or haram. what is this half half way! we also may ask state of mind that allowed to eat it, such, if you stressed, depressed, scared etc.

[Shirib]

I spoke with a sheikh, and the sheikh said any interest accrued from your accounts can be used to pay utilities such as rent, heating, electricity, or you can give it away as sadaqa.

what was his reasoning for that?

[DR-YALAXOOW]

all banks wather its islamic or not needs to make profit(faaiido) and also cover its expenses. so the islamic bank must also make money on the money like any other banks inroder to survive . for example if the bank keeps (savings) my money lets say 100 shilling and inroder bank to keep that 100 shilling of mine i have pay fees lets say 10 shilling more which means the bank made out faaiido 20 shillings.. and thats making money on money(RIBA). My point is practiclly its impossible to run a bank wather its islamic or not whit out making money on money (ribba) . and the lending money also the bank must get more money than they lended you, forexample if i borrow 100 shilling today, tommorow that 100 shilling will not have same value it had yesterday because of inflation whichs natural occurrence when it comes modern days papper money.

[Hyperactive]

yalaxoow, you just said what Arabs said to prophet and the answer came from Allah direct to address their statement.

"Those who devour usury will not stand except as stand one whom the Evil one by his touch Hath driven to madness. That is because they say: "Trade is like usury," but Allah hath permitted trade and forbidden usury. Those who after receiving direction from their Lord"

Allah said, trading not as riba/ interest.

[DR-YALAXOOW]

in 7th century Banks did not exist!. what islam was against was person to person lending money and the lender demanding to be paid back 100% intress rate. i think thats what islam made haraam. but todays banking system and the money system we have today are whole another issue.

and remember in 7th century slavery existed so if you dont pay back 100% intress rate one of your sons or daughters or your self could be taken as slave and being sold in local market. but today slavery does not exist and person to person leding money is againt law. and as is said modern banking system and 7th century person to person lending money are not same.. todays banks needs to make money and cover their expenses and whit out charging money the customers fees probably the bank will not exist..