tag:blogger.com,1999:blog-4257263459445074416.post3480856585877528319..comments2023-10-19T02:40:04.995-07:00Comments on Islamic Finance Asia: Malaysia's Court of Appeal reverses High Court BBA rulingHABHAJAN SINGHhttp://www.blogger.com/profile/07890217612495434519noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4257263459445074416.post-66342317095082583212009-04-05T23:24:00.000-07:002009-04-05T23:24:00.000-07:00The view of the true and authentic Muslim scholars...The view of the true and authentic Muslim scholars is that Islamic Banking is "double haram".<BR/><BR/>The funny thing is that in the last 1200 years of Muslim trading & commerce, even at the level of international financial transactions, they have not required nor the need for Banking.<BR/><BR/>It is reported that Banking does not exist under the Khalifate system and they never relied on Central Bank and Commercial Banks.<BR/><BR/><BR/>It is only at the turn of 19th Century and the Fall of the Utmaniyyah Sultanate, when the Eurupeans began to appear as Bankers to the Sultans in the various Muslim Countries; the Muslims started to ABANDON the proper practice of Trading & Commerce.<BR/><BR/>They all fell to the lure of Captialism, Riba-based banking and Finance. The Sultanates began to borrow from European Bankers and use of "fiat paper money".<BR/><BR/>And the verse of Quran says, Allah and His Messenger "fights" those who practice Riba including IGNORANT Muslims.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4257263459445074416.post-90349919973947656332009-04-01T20:11:00.000-07:002009-04-01T20:11:00.000-07:00spelling mistake i suppose..not bank giving a riba...spelling mistake i suppose..not bank giving a riba(rebate)..it is ibra'..<BR/><BR/>Regards,<BR/>AhmadUnknownhttps://www.blogger.com/profile/12457949543941609192noreply@blogger.com