now please tell me , how trade is possible without making any money or profit ?
Islamic banks, claiming that they do not deal in interest (but merely conceal it through legal tricks.)
Islamic banks do compensate and charge for the time value of money, thus paying and receiving what is known in economics as interest. Compare Islamic banking to contractum trinius鈥攁 legal trick devised by European bankers and merchants during the Middle Ages, designed to facilitate the borrowing of money at a fixed rate of interest through combining three different contractual agreements .
aren%26#039;t these so called Islamic Banks(following rules of islamic law %26quot;shariah%26quot;) making mockery of islam itself ? making fool of simple muslims ( who deal with them in name of islam) %26amp; making huge profits ?
According to islam: %26quot; banking %26amp; profit making are considered evil, while trading is permitted?credit check
Part of every religion is hypocritical BS .It all superstitious BS.Changing the rules to fit a persons life style is part of removing guilt and still believing you are following the original set of rules
According to islam: %26quot; banking %26amp; profit making are considered evil, while trading is permitted? loan
you don know any thing
intrest is bad see in old times in india there is a group of comunity which do not do any thing and just they sit and suck the blood from the villigers viens
i will not go in detail s but there are many things i want to tell you i don have time know can give youAll true religions have prohibited this. Read the following references from Islam and Bible:
Islam prohibit usury (interest on loan). Quran forbids it. %26#039;Allah has laid His curse on usury and blessed charity to prosper. Allah does not love any ungrateful sinner - (Quran 2 AlBaqara 276)
Apostle of Allah has cursed upon the people involved in this act. %26quot;Narrated Abdullah ibn Mas%26#039;ud: The Apostle of Allah (peace be upon him) cursed the one who accepted usury, the one who paid it, the witness to it, and the one who recorded it%26quot; - (Sunnan of Abu-Dawood 1475)
Narrated Abdullah ibn Hanzalah ; Abdullah ibn Abbas: Allah%26#039;s Messenger (peace be upon him) said, %26quot;A dirham which a man knowingly receives in usury is more serious than thirty-six acts of fornication.%26quot; Ibn Abbas%26#039;s version adds that he said, %26quot;Hell is more fitting for him whose flesh is nourished by what is unlawful.%26quot; Ahmad and Daraqutni transmitted it. Bayhaqi transmitted in Shu%26#039;ab al-Iman on the authority of Ibn Abbas - (Al-Tirmidhi Hadith 854)
Bible also prohibited it many times, for example read the following lines and for more detail you may read King James version.
8 If he has not exacted usury Not taken any increase, but has withdrawn his hand from iniquity and executed true judgment between man and man; -(Bible Ezekiel 18:8)
link|||residual income is much more difficult with traded sheep|||banking and profiting are totally legal
wherever you got that idea your wrong its borrowing that is not permited thats why we arent allowed to lease|||%26quot;usury%26quot;, the practice of lending and charging interest (as it is more commonly called) was also banned by Christians and the Catholic church for 100%26#039;s of years. remember the dark ages? so were Christians %26quot;making a mockery%26quot; of Christianity by effectively charging interest even though it was prohibited, as you so clearly point out?
that%26#039;s why Jewish business men became so wealthy, and in many cases hated by their Christian counterparts...because their religion did not prohibit this core tenet of capitalism.|||It%26#039;s talking about interest and loaning money only to gain profit from it.
Most traders do not trade for a profit, but for a fair deal.
2 silk clothes for 4 leathers (world of warcraft, sorry) or something like this...|||they can do whatever the h e ll they want, but in islam, taking money you haven%26#039;t earned and giving money to others that they haven%26#039;t earned(unless its a gift) is haram..i.e. interest, usury
we shouldnt trade something for something else..instead we should sell that something, and then with that money buy, that something else...why because you can be cheated or you can cheat in this way..say you want a bag of rice, but all you have in 12 oranges..then you should first sell the oranges for money, and with that money buy the bag of rice....by haggling for how many oranges i owe for the bag of rice, i may end up paying less than i should or more than i should..rarely, can the value of an orange be ratioed to a bag of rice so that trading can be fixed...this also means that we shouldnt blow up prices and put them on sale, and use this as a technique to get people to buy things that are not worth their value...neither should you haggle for a tomato that you think is 50cents more than it should be...of course profit is allowed, but you have to work for it, not use tricks to get it...
do you like getting ripped off by college loans, mortgages, retarded taxes and insurance?? fine go ahead..ill keep my money..|||The medieval Christian church also considered interest evil; while understanding that it was necessarily to keep a flow of capital through the economy.
In the medieval case, Christians allowed Jews to carry out this activity, since interest was %26quot;sinful%26quot; and a large part of Christianity%26#039;s early history was anti-semetic....this was fine in the eyes of Church leaders.
There is no one to carry out this role in Islam so they have to devise another way to get lenders the required return on debt.|||what do u mean profit making is evil?
according to islamic sharia, INTEREST is haram(forbidden)
we r not supposed to pay/take interest|||Dude, the words %26quot;Islamic bank%26quot; sounds like %26quot;Islamic wine%26quot; or %26quot;Federal reserve%26quot;, no such thing....just a name to mislead us.|||look i%26#039;ll trade you these four shiny quarters for that dull 50 dollar bill|||you don%26#039;t get it mate
the trading is legalized, cos that way people would cover their cost of making a product, and therefore spend what they earn on neceesities needs and other needs. if u produce a good at 50 dollars u wont sell it at 50 dollars cos u wont make profit out of it.
however, the interest , borrowing money from an institution in other word money trading, creates trouble and it%26#039;s harmful to the individual. people would be in debts, you cant pay the debt on time , the debt increases and so on. it%26#039;s an evil act. the lender is benefiting it from this act, and the borrower is struggling to pay back the rapidly increasing debts.
hope the answer is clear x|||You are completely misinformed. Check these out:
http://search.ft.com/ftArticle?queryText...
http://search.ft.com/ftArticle?queryText...
Basically, Islamic banking and finance are going to save the world economy!|||Banking is not banned by Islam. What is banned by both Islam and Christianity is usury.
Most people believe usury is the lending of money at interest. This belief is totally false. Usury is the practice of lending money at interest for other than profit making ventures.
Simply put, borrowing money to buy your new home that is not rented or used to turn a profit is usury. Borrowing money to buy a home you are going to rent for a profit is NOT usury, even if the interest is exorbitant.
Usury should be banned by all countries. Legal usury has turned Western populations into one of the most indebted, dependent and spoiled lot in known history.
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