There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Banking

[RonRon]

why got special banking for muslims?

 

[chuckyworld]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

All the others Religions haven't got around of thinking to start their own banking.

 

[theDoors]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Charging interest is considered Haram.

 

[Jabba]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

how does islamic banking works?

 

[theDoors]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

based on profit sharing of the capital invested

 

[Jabba]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Can borrow from them without interest?

 

[theDoors]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Part of the profit made to be paid back as fee for borrowing the capital.

 

[theDoors]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Catholics forbade believers lending at interest in the Byzantine empire.

 

[DrPanacea]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

why got special banking for muslims?

So that they can move funds around easily for their Jihad.

 

[Ash007]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Catholics forbade believers lending at interest in the Byzantine empire.

Yup, the Catholic used to believe the same thing as the Muslims that "Creating" something out of nothing. In this case, interest, is against the teaching. Only "God" is allowed to "create", anything else is the works of the devil. What is interesting is that according to Judaism, the same concept applies as well, but its allowed to lend and charge interest on the condition that its to another non-Jew. Watch the documentary The ascent of money, it explains a lot about financial systems and how it evolves over time.

The Medici family, got around this by charging a "bank fee", which effectively amounts to "interest" in a way.

http://en.wikipedia.org/wiki/The_ascent_of_money

As for Islamic banking, there seem to be different types and conditions as well. If you look at some of the types, its essentially the same as interest bearing loans but worded to make it sound like its not.
http://en.wikipedia.org/wiki/Islamic_banking

 

[DrPanacea]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Part of the profit made to be paid back as fee for borrowing the capital.

Interest is considered haram, so disguising it as paying back as part of profits is not. Warped logic which is hypocritical.

 

[theDoors]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

So that they can move funds around easily for their Jihad.

You have to ask the 5000 princes in the Saud Family.

Chechen War in Russia was largely financed by the Saud family.
Sleeping With the Devil: How Washington Sold Our Soul for Saudi Crude by Robert Baer has details on how the money is moved.

 

[theDoors]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Yup, the Catholic used to believe the same thing as the Muslims that "Creating" something out of nothing. In this case, interest, is against the teaching. Only "God" is allowed to "create", anything else is the works of the devil. What is interesting is that according to Judaism, the same concept applies as well, but its allowed to lend and charge interest on the condition that its to another non-Jew. Watch the documentary The ascent of money, it explains a lot about financial systems and how it evolves over time.

The Medici family, got around this by charging a "bank fee", which effectively amounts to "interest" in a way.

http://en.wikipedia.org/wiki/The_ascent_of_money

As for Islamic banking, there seem to be different types and conditions as well. If you look at some of the types, its essentially the same as interest bearing loans but worded to make it sound like its not.
http://en.wikipedia.org/wiki/Islamic_banking

Current financial structure is the cumulation of the Rothschild banking family banking experience.

Cash Nexus by Nial Ferguson is a good primer.

Carroll Quigley's book Tragedy and Hope page 53 explains in detail how the entire Anglo American banking system works. If you want an ecopy, private message me with your email.

 

[Char_Azn]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

why got special banking for muslims?

To prevent pork eating infidels like us from touching the money. Wait the money become dirty and they cannot go to meet Allah becoz of that how?

 

[theDoors]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Anyone who is interested can visit this website
http://www.islamic-banking.com/

 

[scroobal]

Re: There is no Buddhist Banking, Christian Banking, Hindu Banking but Islamic Bankin

Merely cosmetic - interest is repackaged as fee. All 3 Abrahamic religions have the same issue but Judaism and Christianity have past the issue sometime back.