Green Energy
- Uk: Treasury Rewriting Britain's Tax Laws To Accommodate Sharia Financ
Maybe if I play dead the Muslims will leave me alone. From Jihad Watch: "Sharia Law Sneaked Into Labour Budget," by Kirsty Buchanan for the Sunday Express, December 13: THE Treasury plans to rewrite Britain's tax rules to usher...
- Bank Customers Paying Jizya/zakat At Lloyd's Of Londno
As I understand it, according to Sharia Finance rules, a Muslim pays 2% Zakat (which is basically the equivalent of a Christian tithe - it's money that goes to Islamic "charity"), while an Infidel can pay up to 20% Zakat charge. In other words,...
- Islamic Banking - Growth And Prospects
Check out this article from ABC Australia. It reads like a Press Release from the Saudis. From ABC Austalia: The Islamic banking industry is now worth almost an estimated US$1 trillion and is widely considered to be one of the fastest growing sectors...
- Is Sharia Banking Set To Emerge From The Fallout Of The World Economic Crisis?
Thanks to Michael Travis for sending this over to me: Economic Crisis Fallout Shari'a Banking By Ilana Freedman; Editor & CEO, Gerard Group International, Inc. A dangerous trend is arising from the failing financial markets, as some of our leading...
- A Steaming Pile Of Sharia Finance
Shitrhea, I mean Sharia Finance is being proposed as a way out of the banking crisis. A mainstream paper like the Scotsman is promoting this pile?!?!? Watch out. Don't step in it. THE spectacular collapse of Lehman's, the problems at AIG...
Green Energy
What Is Sharia Finance?
It is a stupid way of swindinling Allah if this article is correct. Allah must be too stupid to realize that the whole system is based upon the goal of paying the same interests rates, and achieving the same results as Westerners, while using a slightly (very slight) different means:
Sharia forbids earning or paying interest on loans. So Sharia finance is about the ways to get around this prohibition. Sharia finance also concerns prohibitions on using money to finance the pork or alcohol industries.
The first is not a problem for dividend or capital gains earnings because they clearly involve risk which is a requirement of Sharia investments. The problem arises with home mortgages and savings accounts.
Home mortgages are handled by having a Sharia bank buy the relevant house and then sell it back, on a monthly payment schedule, to the mortgagee plus a rental fee on the use of the house. The net result is identical to a mortgage loan.
Pastorius note: This is exactly what we sons of apes and pigs do.
A savings account in a Sharia bank is one where the deposited money is invested in only Sharia investments. The returns are dividends and capital gains which are put in a fund that pays out the regular market savings account interest rate. Again, this is not really very different than a standard bank savings account except for the way the funds are invested (definitely not as secure as a bank savings account and certainly not insured by any government.)
All other Sharia finance is based on equity funds that exclude interest bearing instruments, like bonds, and avoid stocks in inappropriate (pork and alcohol) corporations. (Think socially responsible funds with an Islamic agenda.)
The multiple tools of hedge funds... options, puts, calls and arbitrage contracts are nearly all well suited to Sharia finance (excluding bets on interest rate markets such as Libors.)
The Sharia prohibition on interest was appropriate at the time of Mohammed, as Christianity took the same position. (Jews in both Moslem and Christian societies were relegated to banking.)We now see interest as a rental on money composed of a mix of risk, market pricing (national price index) and the supply of funds.
Okey doke. Well, at least Allah is buying it. Muslims ought to be proud to have a god they can hoodwink like that.
Sharia forbids earning or paying interest on loans. So Sharia finance is about the ways to get around this prohibition. Sharia finance also concerns prohibitions on using money to finance the pork or alcohol industries.
The first is not a problem for dividend or capital gains earnings because they clearly involve risk which is a requirement of Sharia investments. The problem arises with home mortgages and savings accounts.
Home mortgages are handled by having a Sharia bank buy the relevant house and then sell it back, on a monthly payment schedule, to the mortgagee plus a rental fee on the use of the house. The net result is identical to a mortgage loan.
Pastorius note: This is exactly what we sons of apes and pigs do.
A savings account in a Sharia bank is one where the deposited money is invested in only Sharia investments. The returns are dividends and capital gains which are put in a fund that pays out the regular market savings account interest rate. Again, this is not really very different than a standard bank savings account except for the way the funds are invested (definitely not as secure as a bank savings account and certainly not insured by any government.)
All other Sharia finance is based on equity funds that exclude interest bearing instruments, like bonds, and avoid stocks in inappropriate (pork and alcohol) corporations. (Think socially responsible funds with an Islamic agenda.)
The multiple tools of hedge funds... options, puts, calls and arbitrage contracts are nearly all well suited to Sharia finance (excluding bets on interest rate markets such as Libors.)
The Sharia prohibition on interest was appropriate at the time of Mohammed, as Christianity took the same position. (Jews in both Moslem and Christian societies were relegated to banking.)We now see interest as a rental on money composed of a mix of risk, market pricing (national price index) and the supply of funds.
Okey doke. Well, at least Allah is buying it. Muslims ought to be proud to have a god they can hoodwink like that.
- Uk: Treasury Rewriting Britain's Tax Laws To Accommodate Sharia Financ
Maybe if I play dead the Muslims will leave me alone. From Jihad Watch: "Sharia Law Sneaked Into Labour Budget," by Kirsty Buchanan for the Sunday Express, December 13: THE Treasury plans to rewrite Britain's tax rules to usher...
- Bank Customers Paying Jizya/zakat At Lloyd's Of Londno
As I understand it, according to Sharia Finance rules, a Muslim pays 2% Zakat (which is basically the equivalent of a Christian tithe - it's money that goes to Islamic "charity"), while an Infidel can pay up to 20% Zakat charge. In other words,...
- Islamic Banking - Growth And Prospects
Check out this article from ABC Australia. It reads like a Press Release from the Saudis. From ABC Austalia: The Islamic banking industry is now worth almost an estimated US$1 trillion and is widely considered to be one of the fastest growing sectors...
- Is Sharia Banking Set To Emerge From The Fallout Of The World Economic Crisis?
Thanks to Michael Travis for sending this over to me: Economic Crisis Fallout Shari'a Banking By Ilana Freedman; Editor & CEO, Gerard Group International, Inc. A dangerous trend is arising from the failing financial markets, as some of our leading...
- A Steaming Pile Of Sharia Finance
Shitrhea, I mean Sharia Finance is being proposed as a way out of the banking crisis. A mainstream paper like the Scotsman is promoting this pile?!?!? Watch out. Don't step in it. THE spectacular collapse of Lehman's, the problems at AIG...