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Islamic Banking : Are we 'cheating' God? |
Travel Info When one's intention was to borrow money, the 'nawaitu' or intention is still - to borrow money. Not buy & sell things. Intention differ from Akad, is ridiculous. When the banker try to avoid "interest charges"(syariah scholars called it Riba), they (banker/syariah scholars) manipulated it to (purportedly) "buy & sell' akad/contract, in order to legitimize the transaction. That is shameful to our religion. I personally think, 'interest' is not Riba. Riba is simply an unfair or unjustifiable burden to an 'ignorant' borrower. If the borrower fully understood the related costs, and agreed to the borrowing of the total costs and tenors, then it is not Riba at all, the contract is HALAL. Interest is simply a combined of costs of borrowing + opportunity costs, which is fair. Why are we making the fuss out of Riba and manipulated words and looks like the bankers & syariah scholars are 'cheating God and make fool of themselves. Appreciate your opinions. Thanks Travel Tips We are cheating the nation. It is just a marketing lie. People will buy anything if you coat it with religion . Islamic banking and people who advertise it are misleading the general in order to appeal to Muslims and therefore,win the competition. Others well, what is riba then in your thinking? if you pay or receive more than the original amount with no investment intended then that's riba. this is very clear in Islam and i think riba is forbidden in other religions Islam yeas Just do what you think good for the community. If you think bank interests is not good for the community and the economy, then don't go banking. Religion should not make your life complicated. Lots of things in Islam law are debatable, but you cannot cheat your consiousness. Good question...I have been in banking for 10 years and can tell you that its worst! all Islamic banking is, is interest bearing products camouflaged to trick the borrower/investor. Thank God I left banking FOREVER!!!!!!! there is no such a Islamic banking this is a big lie |
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