Falling prey to ‘Halal’ investments

[livingdead]

so now you agree circumcision is good? but not "good enough". lol well it is amazing if it brings down STD don't you think? you rather save millions of lives and tax payers money in curing STIs and UTIs if you just circumcise. NHS do not get involved because they feel done at a young age is "illegal and against human rights" and done at later age can cause complications. but clearly study suggests 57% decrease in STIs is great!

as for rich guy partnering with a poor guy. well apparently according to you that poor guy is a genius entrepreneur. why wouldn't you wish to partner with a genius use his skills and your money to both people's benefit?

and you asked about ISLAMIC LAW for OWNERSHIP OF HOUSE. well its simple it has NO INTEREST.

it is done in the following way. the rich man or a man who can afford the house buys the house and then SELLS it at a profit to a poor man. and poor man PAYS YEARLY INSTALLMENTS on it. BUT if he fails to pay in a year then his property is not seized. but in CAPITALISM even if the guy cannot afford it he MUST PAY and if NOT it will be taken away.

so if you see 0 interest system is the best possible system. while interest system is like a FEUDAL system where feudals literally slave the poor workers on their farm due to non payment of debt.

simple as this interest system makes a person AN UNJUST AMIRSH PURI TYPE OF THAKAUR.

I never denied that there are some health benefits, that was posted in earlier posts. also whether decreased risk is good enough to ask for mass circumcision. I made that in my first post itself (not to you but other guy). There is a reason why most developed countries do not do it routinely where as they vaccinate all kids. And reason is, that reduction is either not properly proven or simply not good enough.

About rich man partnering with poor, yes only for absolutely top class brilliant ideas in that case its the poor who is loser because he loses 50 percent equity. If you are a facebook inventor, you wont lose your equity so cheap. Better get some money from bank with low interest and just pay 15 -20 percent money.
As you can see the system is bad for both sides.

About house ownership, why will a rich man give house to a poor man in small installment. This does not happen in real world simply because its not mandatory for muslims to do so.

BTW can you tell me any country wherre such a system is workable. BTW its not against banking system to extend the period of payment (payment holiday) and some banks do give that option.

 

[ice_man]

I never denied that there are some health benefits, that was posted in earlier posts. also whether decreased risk is good enough to ask for mass circumcision. I made that in my first post itself (not to you but other guy). There is a reason why most developed countries do not do it routinely where as they vaccinate all kids. And reason is, that reduction is either not properly proven or simply not good enough.

About rich man partnering with poor, yes only for absolutely top class brilliant ideas in that case its the poor who is loser because he loses 50 percent equity. If you are a facebook inventor, you wont lose your equity so cheap. Better get some money from bank with low interest and just pay 15 -20 percent money.
As you can see the system is bad for both sides.

About house ownership, why will a rich man give house to a poor man in small installment. This does not happen in real world simply because its not mandatory for muslims to do so.

BTW can you tell me any country wherre such a system is workable. BTW its not against banking system to extend the period of payment (payment holiday) and some banks do give that option.

CLEARLY your point of view is just to argue. because on one hand you admit that circumcision is good and on the other you said not good enough. and you have no argument against it. you just say "not good enough". without explaining why you feel that. or what makes you prove that or how can it be classified as good enough for you. when infact every country tax payers billions is being spent on trying to cure STIs and UTIs.

and you gave an example of facebook inventor. well guess what when "inventing" or coming up with a "great idea" no one knows its great until after. so if it becomes facebook type big good. but what if it flops? THEN WHATEVER YOU HAD ALSO IS TAKEN AWAY BY BANK. but in Islamic banking if it flops then no worries because you lose nothing but the financer loses his 100%. but then it was his risk also. So both parties are equal. in success and in loss! if idea becomes great then well the financer who took the risk to invest becomes rich super rich. however if the idea flops the investor loses his investment only. while poor man stays the same level he was on before the deal.

read this link it might help you with some logic.

http://news.bbc.co.uk/2/hi/business/2525635.stm

Islamic businesses is about partnerships and less about enslaving people and taking away their everything.

 

[Anubis]

No, you are talking about two issues here. Zakat is donation, you dont expect any profit from it. Where as in any business you expect profit.
How can I start a business just with zakat money that I receive?

From a rich man's pov suppose he has 100x money, he will invest his own business and invest heavily. Rest of money he will keep and give 2.5 percent in zakat on it. Instead of investing in 5 businesses 20x each of which he is minority shareholder simply because his effort will be divided.

Ultimately the rich man will have last laugh. Compare that to a bank where everybody keeps money and gets a share of income from investment. Rich or poor.

If the the rich man invests his idle money in his own business he is actually helping the society.....More investment in most cases mean more jobs.....more employment equals less poverty.....You are assuming that people remain poor only if they have no 'business'....Where as people can be lifted out of poverty through employment.Islamic economics is based on the idea of encouraging trade thus there's no taxation on trade but there is on idle money.Example:Say the owner of walmart lives in an Islamic economy.....Now he has 100x money which he can divide by sharing with 5 other investors creating 5 extra convenient store(a total of 6 including walmart) and in terms employ 6x10=60 employees OR invest all of its money on his store and create one Big convenient store which can employ 60 employees.