State Bank of India to launch Islamic fund

[cloud_9]

Is earning on such investments according to Islam ?How does it work?

 

[Saheli]

Aapki baat kuchh palle nahi padi... zara hamein bhi to bataiye ki aaj ke din me aisi kya khaas baat ho gayi?




So does it mean that the bank does not have to pay any interest on the money it holds? If that is the only difference, then how would Muslims rise in the society? One wave of inflation and their earnings could be wiped out (if I am right in comprehending this concept of Islamic banking).

They get dividends. It is just like any financial investment or stock option.

 

[Kaniska]

What an idiotic post. Lol

Guys if this concept is benifitial to common man...why only Muslims, every one will avail it...

 

[Stephen Cohen]

It has been estimated that many Muslim families dont put their savings because of
interest that is accrued and then it becomes a problem for their religious beliefs

This scheme is a novel way of channelising savings into the productive sectors
of the economy while being compliant with Islamic principles

We need to invest more savings in productive sectors no matter where they come from

And not in sectors such as Gold and jewellery

 

[Stephen Cohen]

It has been estimated that many Muslim families dont put their savings because of
interest that is accrued and then it becomes a problem for their religious beliefs

This scheme is a novel way of channelising savings into the productive sectors
of the economy while being compliant with Islamic principles

We need to invest more savings in productive sectors no matter where they come from

And not in sectors such as Gold and jewellery

 

[wolfschanzze]

Wait sometime till Subramaniyam swamy throws a spanner in the works, he stopped islamic banking before too in court, he might do the same now.

 

[Pride]

I agree with SBI's approach. From business POV, it is to reach a target of millions base users. This is something like Infra or ELSS fund. If it is written in some religious texts to use your money in one's way then SBI is just providing them a mechanism. I don't know why few users are jumping against the same.

 

[SouthDesi]

Wait sometime till Subramaniyam swamy throws a spanner in the works, he stopped islamic banking before too in court, he might do the same now.

He stopped an Islamic Bank i guess. This is just another type of account in SBI, not sure could be like a mutual funds(?).

 

[Pride]

Wait sometime till Subramaniyam swamy throws a spanner in the works, he stopped islamic banking before too in court, he might do the same now.

I like and hate Swamy at same time. He becomes so anti-Muslim at times that he forgets that he could not influenced or convinced the same idea to his daughter while he wants whole Indian Hindus follow him.

 

[SouthDesi]

I like and hate Swamy at same time. He becomes so anti-Muslim at times that he forgets that he could not influenced or convinced the same idea to his daughter while he wants whole Indian Hindus follow him.

This is what Swamy's explanation recently -

- Her Father-in-law and husband are an atheists
- Her Mother-in-law follows Budhism(She was an Hindu)
- His Daughter follows Hinduism and raising her kids with same beliefs.

 

[wolfschanzze]

I like and hate Swamy at same time. He becomes so anti-Muslim at times that he forgets that he could not influenced or convinced the same idea to his daughter while he wants whole Indian Hindus follow him.

He has explained how islamic banking is harmful for Indian economy, it is the saudis with their oil money who want their agenda done in India.
How islamic banking is a fraud and indirect way of collecting interest.
how is he anti- muslim?he is merely calling "a spade a spade",just like muslims call you kafir for being a non-muslim he is stating in clear the agenda of islam and we should be thankful for him that he is exposing such Taqiyya(deception) in front of hindus.
He never said or asked hindus to follow him, many follow him because of his ideas and intelligence, he brought down biggies in court cases.
He highlighting 2g scam and other scams along with him campaigning on Social media and MSM, United the hindus and you see the LS election result,all parties washed away in modi tsunami.

 

[wolfschanzze]

He stopped an Islamic Bank i guess. This is just another type of account in SBI, not sure could be like a mutual funds(?).

He will make sure no sort of Islamic banking will take root in India and he will fight them in court and stop the process.
Already he responded on twitter to such speculation, wait some days you will see him in court regarding this.

 

[SouthDesi]

He will make sure no sort of Islamic banking will take root in India and he will fight them in court and stop the process.
Already he responded on twitter to such speculation, wait some days you will see him in court regarding this.

We may not agree with him on few things, but i have learnt lot over the years from his articles and speeches.

 

[Pride]

This is what Swamy's explanation recently -

- Her Father-in-law and husband are an atheists
- Her Mother-in-law follows Budhism(She was an Hindu)
- His Daughter follows Hinduism and raising her kids with same beliefs.

And you think, anybody care that much. I think he should have influenced his son-in-law by this time to convert to Hinduism. I don't want to be personal for him as it is his family matter but it is weirdest that most of the prominent BJP leader who shout at top of their voice against Muslims have actually very close family relation with Muslims. I find it hypocrisy.

 

[Pride]

He has explained how islamic banking is harmful for Indian economy, it is the saudis with their oil money who want their agenda done in India.

How islamic banking is a fraud and indirect way of collecting interest.

I will see the video what his explanation is as of now, I can't see the video so I refute to comment. What I know is that earning profit on hard earned money is "Haraam" and not the Islamic way so the money earned as interest can be used to distribute among poor.

how is he anti- muslim?he is merely calling "a spade a spade",just like muslims call you kafir for being a non-muslim he is stating in clear the agenda of islam and we should be thankful for him that he is exposing such Taqiyya(deception) in front of hindus.

Supporting Hinduism and being Anti-Muslim is 2 different thing. He is going and selecting all anti-Muslim issues and even cross the lines many time. He is expelled from Harward due to that. If you are so righteous about the "Correct" things then you should look for core issues and not blindly support wrong doing like so many Baba issues.

He never said or asked hindus to follow him, many follow him because of his ideas and intelligence, he brought down biggies in court cases.
He highlighting 2g scam and other scams along with him campaigning on Social media and MSM, United the hindus and you see the LS election result,all parties washed away in modi tsunami.

This part I like him as he is learned scholar and he is not afraid of anything and fight even if he is talking utter nonsense i.e. Read Sonia is KGB agent. Al Jazeera took him very nicely for "misquoting" Sholay post.