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Keral to start iSlamic banking

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goodcitizn
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Vakavaka Pakapaka
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Keral to start iSlamic banking Empty Keral to start iSlamic banking

Post by Marathadi-Saamiyaar Sun Aug 18, 2013 12:17 am



....what if a Hindu bank is started as well?

will iSlamic bank be open to kafirs and infidels?

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Post by Vakavaka Pakapaka Sun Aug 18, 2013 1:53 am

Well, if the bank gives interest on deposits, it is no longer iSlamic. If it doesn't, no kafir or infidel will be interested. Even Akbaruddin Owaisi will not put a dime in it (he does his banking at Andhra bank - LOL). If it does give interest-free loans, even chaddis will line-up.

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Post by Marathadi-Saamiyaar Sun Aug 18, 2013 2:35 am

Vakavaka Pakapaka wrote:Well, if the bank gives interest on deposits, it is no longer iSlamic. If it doesn't, no kafir or infidel will be interested. Even Akbaruddin Owaisi will not put a dime in it (he does his banking at Andhra bank - LOL). If it does give interest-free loans, even chaddis will line-up.
Not really....the Govt. will subsidize and pay the interest so that muslims theoretically get interest-free loan. has got to be some gimmick.

Or like loan shark, call it commission and deduct at the beginning.


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Post by rawemotions Sun Aug 18, 2013 3:42 am

There has  been a clamour for Islamic Banking for a few years. I thought RBI had clearly said it needs legislation to allow something like that.

How can Kerala bypass RBI ?
It looks like the coalition partner is miking the relationship to introduce Political Islam. Congress as usual is ok with such "communal" politics,as long as it favors its chief voting bloc that is a big chunk  of its votes in Lok Sabha.

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Post by goodcitizn Mon Aug 19, 2013 12:03 pm

What does Vysya Bank mean? Isn't that a Hindu caste-based name?

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Post by Propagandhi711 Mon Aug 19, 2013 12:54 pm

goodcitizn wrote:What does Vysya Bank mean? Isn't that a Hindu caste-based name?
islamic banking doesnt mean putting the name islamic or mohammed or pbuh in the title...they're governed by strict laws that you and I might not find savory.

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Post by Marathadi-Saamiyaar Mon Aug 19, 2013 1:22 pm

goodcitizn wrote:What does Vysya Bank mean? Isn't that a Hindu caste-based name?
An islamic bank is by the iSlamis, of the iSlamis and for the iSlamis - per Shariat Laws.

So now we have a separate Muslim Banking Laws in India....Razz

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Post by southindian Mon Aug 19, 2013 1:36 pm

Marathadi-Saamiyaar wrote:
goodcitizn wrote:What does Vysya Bank mean? Isn't that a Hindu caste-based name?
An islamic bank is by the iSlamis, of the iSlamis and for the iSlamis - per Shariat Laws.

So now we have a separate Muslim Banking Laws in India....Razz
Yup! We are getting there... one step at a time, whether its UK, France or Kerela. The end goals are same.

PS: Tracking a long-term project.
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Post by indophile Mon Aug 19, 2013 1:56 pm

Islamic banks are not supposed to charge interest or demand interest on loans. Since there is no such thing as a bank without interest, the wise interpreters of koranic laws allow the Islamic Banks to charge "a loan processing fee," "a loan maintenance fee," but just don't call it interest (riba), and then everything is kosher (no pun intended) or "halaal." There are some universities in the U.S. (well funded by oil-rich Middleeastern countries) that offer doctorates in "Islamic Economics," and there are those who get them.

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Post by Propagandhi711 Mon Aug 19, 2013 2:14 pm

indophile wrote:Islamic banks are not supposed to charge interest or demand interest on loans. Since there is no such thing as a bank without interest, the wise interpreters of koranic laws allow the Islamic Banks to charge "a loan processing fee," "a loan maintenance fee," but just don't call it interest (riba), and then everything is kosher (no pun intended) or "halaal." There are some universities in the U.S. (well funded by oil-rich Middleeastern countries) that offer doctorates in "Islamic Economics," and there are those who get them.
these oily cocksuckers want to avoid all developments in science, banking and technology (except things that go kaboom) and fools in our own regressive country are willing to indulge them. modern banking started like 5 centuries ago, for fucks sake

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Post by Marathadi-Saamiyaar Mon Aug 19, 2013 2:43 pm

southindian wrote:
Marathadi-Saamiyaar wrote:
goodcitizn wrote:What does Vysya Bank mean? Isn't that a Hindu caste-based name?
An islamic bank is by the iSlamis, of the iSlamis and for the iSlamis - per Shariat Laws.

So now we have a separate Muslim Banking Laws in India....Razz
Yup! We are getting there... one step at a time, whether its UK, France or Kerela. The end goals are same.

PS: Tracking a long-term project.
Wait for a year to get a "minority Status" and exemption from all Banking laws as it will already be under Shariat banking laws. Then expand operations to otehr states (just 2, 3 years), exempt from FOREX regulations, and Charity (read Saudi money) exemptions.

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Post by confuzzled dude Mon Aug 19, 2013 2:49 pm

Marathadi-Saamiyaar wrote:
southindian wrote:
Marathadi-Saamiyaar wrote:
goodcitizn wrote:What does Vysya Bank mean? Isn't that a Hindu caste-based name?
An islamic bank is by the iSlamis, of the iSlamis and for the iSlamis - per Shariat Laws.

So now we have a separate Muslim Banking Laws in India....Razz
Yup! We are getting there... one step at a time, whether its UK, France or Kerela. The end goals are same.

PS: Tracking a long-term project.
Wait for a year to get a "minority Status" and exemption from all Banking laws as it will already be under Shariat banking laws. Then expand operations to otehr states (just 2, 3 years), exempt from FOREX regulations, and Charity (read Saudi money) exemptions.
You should expedite your conversion plans to take advantage of this; By conversion, I don't mean monetary Razz

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Post by southindian Mon Aug 19, 2013 3:10 pm

goodcitizn wrote:What does Vysya Bank mean? Isn't that a Hindu caste-based name?
Another one. DhanLaxmi bank. These stupid Hindoos start a Hindoo name sounding bank for luck wonly. They don't have the courage to have any different banking rules/regulations, unlike patented laws of islamic bank following the great M-team book.
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