Islamic Banking ‘invades’ Tanzania

I think all this hoola-baloo about sharia banking is just the usual Tanzanian trend of being a flag in the wind.
To me there is nothing uniquely 'Islamic' about this banking scheme. It is just a banking scheme that happens to be endorsed by Islam/ Islamic clerics. Labeling it Islamic banking is short of saying the other schemes are Jewish or Christian! That is, that the Jewish/ Christian establishment does not care for 'the brethren'.

My suggestion (though late, and will surely not be adopted) is that, instead of putting religious labels on such public services, neutral terms such as 'Zero interest loans' or 'moral (sic) banking/ loans' or better still 'green banking' (seeing as everything is going green these days!) should be used

Mkandara said:

Mkuu hivi kweli unaweza linganisha Bank na NGO ya Upatu kwa sababu tu DECI ilikuwa ya Wakristu..Mkuu wangu kama kuna NGO yoyote ya Waislaam inayocheza mchezo wa Upatu kama ule wa DECI ifungiwe mara moja na zaidi ya hapo wahusika watiwe ndani. Lakini kama mtu binafsi, kundi la watu au jumuiya inataka kufungua Bank au NGO itaruhusiwa kulingana na masharti ya kufungua Bank au NGO maadam service zake zitakuwa ktk taratibu na kutokiuka masharti..mkuu kuna banks na NGO ngapi hazijafungiwa? kuna banks na NGO ngapi zzinazohudumia watu fulani tu iwe hii bank ambayo ipo kwa watu wote isipokuwa sheria zake zinakataza uwekezaji ktk haramu.

Jamani Mkapa kafungua bank kwa hela zenu wenyewe, hampigi kelele isipokuwa hii bank inayoitwa ya Waislaam imekuwa taabu kwenu... Ama kweli maneno ya Nyani Ngabu yana ukweli mtupu - MIAFRIKA NDIVYO TULIVYO....

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Hii ya DECI nimetoa mfano tu jinsi ambavyo mara nyingi bureaucracy haiwezi kutegemewa au kuaminika kufanya kazi yake jinsi inavyotakiwa na matokeo yake watu kujifanyia mambo kiholela bila ya kufuata taratibu, kanuni, sheria.

Lakini hata hivyo sitashangaa kama hii ya kuanzisha mfumo wa huduma za fedha za Shariah itakuwa ni kufuata mkumbo tu kama DECI ilivyoanzishwa wakati ule: kwa vikle KBC, Stanbic, Standard Chartered nk zimeruhusiwa Kenya basi ni sawa kwa Tanzania vilevile bila ya kupitia Sheria zilizopo.

Plancscale,
Mkuu majibu yako ni rahisi kabisa.. Jiulize wewe hivi ukila nyama halal na wewe sii Muislaam inakuwaje? Je ni makosa kuweka butcher za nyama halal na hizi butcher zipo kwa ajili ya Waislaam tu au?..mbona wazungu na wataalam wamegundua kwamba nyama yoyote ya mnyama anayekufa na damu yake hugeuka kuwa sumu na huoza haraka zaidi ya nyama inayochinjwa..
Uislaam ni kuamini mafundisho kama haya ikiwa wewe unaona riba sii haki basi ndio ktk Uislaam wenyewe. Uislaam si mtu, watu ila ni imani inayohitaji Ibada.

Kiranga said:

Plancscale,

Ndiyo maana mimi nikasema kuna haja ya ku-rexamine hiyo designation ya "Islamic banking". Kama inahusu mambo ya no interest, bila ya kitu kingine ambacho kiko uniquely Islamic, basi iwe "No Interest loan".

After all kuna wakomunisti, wasoshalisti, wakristo etc, wanaamini interest katika mikopo ni exploitation/ unethical/ au hata dhambi fulani hivi. Na wanaweza kukupa misahafu yao invyosema.

Sasa swali langu ni, what is uniquely Islamic about these loans. I'm talking core issues apart from labelling and bismillahing here and there.

Maana unaweza kukuta tatizo ni labelling, Wakristo na sisi atheist hatutaki kutumia service inayoitwa "Islamic banking" wakati hatuamini uislam, lakini tunaona kabisa hii service itatufaa kwa imani zetu kwamba interest ni exploitation.

Kama ni hivyo unaondoa label tu, unaondoa tatizo.

Tatizo sasa kila mtu atataka no interest banking, banking system inaweza ku collapse hivi hivi.

Click to expand...

Ni nini kigumu kuelewa hapa: Islamic Banking inafuata misingi ya dini ya Kiislamu kulingana na kanuni na sheria za Quran i.e., Shariah. Isengesaidia lolote kama jina lngebadilishwa kwani bado essence yake itabakia palepale: Quran aka Shariah! Sasa sijui hii 'labelling' [sic] idea yako ingesaidia vipi?

Islamic finance takes centre stage

The collapse of Western financial institutions and a general crisis of confidence in Western regulatory regimes has created an upsurge of interest in Islamic finance. While many in the West have long advocated that the financial sector adopts approaches such as more sustainable practices, ethical investment and non-predatory lending, Islamic finance is an example of how such a system might work in practice.

Assistant Treasurer of Australia, Nick Sherry, opening a conference on Islamic finance at La Trobe University, Melbourne in July 2009, said: “The conventional financial system would do well to learn what it can from Islamic finance's avoidance of exposure to the US sub-prime market and associated complex financial instruments.”

How Islam Banking Lend without Interest

Murabaha - A form of credit that enables customers to make purchases without taking an interest bearing loan. The bank buys the goods for the customer and re-sells them to the customer on a deferred basis, adding an agreed profit margin. The customer then pays the sale price for the goods over instalments, effectively obtaining credit without paying interest.

Ndjabu Da Dude said:

Ni nini kigumu kuelewa hapa: Islamic Banking inafuata misingi ya dini ya Kiislamu kulingana na kanuni na sheria za Quran i.e., Shariah. Isengesaidia lolote kama jina lngebadilishwa kwani bado essence yake itabakia palepale: Quran aka Shariah! Sasa sijui hii 'labelling' [sic] idea yako ingesaidia vipi?

Click to expand...

Ingesaidia kubadilisha jina kwa sababu naona kuna watu wengi wasio waislam ambao wanaamini katika principles zinazoendana na "No Interest" banking, lakini ukiwaweka katika kundi la "Islamic banking" wanaweza ku-object kwa sababu wao si waislam. Ndicho nilichoeleza hapo juu. Sioni ugumu wa kulielewa hili unatoka wapi.

Kwangu mimi swala lililo complex kuliko hizi labels, ni kwamba hii "No Interest banking" ita zi turn financial institutions largely kuwa na profit margin ndogo, ukitumia reductionism ya ku focus kwenye hii type ya banking tu, utaona haiko profitable na ni kama charitable enterprise.Sehemu zote inakosimama hii inasimama kama a non profit system ambayo either inakuwa subsidized na njia nyingine, au inalipa kama PR kwa banks kujionyesha zinajali maswala ya jamii. Naona kama kila mtu atakuwa na option ya kupata "no loan interest" atachagua hiyo. Mwisho wake banks zitakosa incentives za kutoa loans. Mimi kwangu hili ni tatizo kubwa kuliko hilo la labelling.

Once this "No interest banking" is wiodespread, banks na financial institutions nyingine zitakuwa na incentive gani ya kutoa loans kwa mfano?

Kiranga said:

Ingesaidia kubadilisha jina kwa sababu naona kuna watu wengi wasio waislam ambao wanaamini katika principles zinazoendana na "No Interest" banking, lakini ukiwaweka katika kundi la "Islamic banking" wanaweza ku-object kwa sababu wao si waislam. Ndicho nilichoeleza hapo juu. Sioni ugumu wa kulielewa hili unatoka wapi.

Kwangu mimi swala lililo complex kuliko hizi labels, ni kwamba hii "No Interest banking" ita zi turn financial institutions largely kuwa na profit margin ndogo, ukitumia reductionism ya ku focus kwenye hii type ya banking tu, utaona haiko profitable na ni kama charitable enterprise.Sehemu zote inakosimama hii inasimama kama a non profit system ambayo either inakuwa subsidized na njia nyingine, au inalipa kama PR kwa banks kujionyesha zinajali maswala ya jamii. Naona kama kila mtu atakuwa na option ya kupata "no loan interest" atachagua hiyo. Mwisho wake banks zitakosa incentives za kutoa loans. Mimi kwangu hili ni tatizo kubwa kuliko hilo la labelling.

Once this "No interest banking" is wiodespread, banks na financial institutions nyingine zitakuwa na incentive gani ya kutoa loans kwa mfano?

Click to expand...

Naona tatizo lako ni Lebe au neno Islam!! I
slamimc Banking ni principal ya kiislam kwa hiyo uwezi kuondoa asili ya kitu, hii ni system ambayo iko ethical kuliko convisional banking na misingi yake inatoka kwenye Holly Qur'an.

Mtu yoyote anaweza kufaidika na Islamic account sio lazima uwe muislam, Ulatya Na Amerika wengi ambao sio waislam wanafadika sio tu na Loan, bali kule Islamic Banking ina operate fully (Loan, Investments, Derivative na other Financial instruments)

Duniani watu wanalalamika na hizi banki za kizungu kwasababu ya ubakhili na big profit margin wanayojiwekea pamoja na Bonus, wananchi wa kawaida ndio losers

Kwahiyo islamic banking ndio solution!

Mkandara said:

Mag3,
1. Huyu mtaalam wa Kihindi kwanza hajui hizi bank zinafanya kazi vipi, hivyo ana assume what's going on kwa kusoma toka Internet au simulizi za mitaani. Ni hivi mkuu wangu.. Katika sharia za Kiislaam haikatazwi FAIDA (Profit) isipokuwa kinachokatazwa ni riba (interest) ambayo unakuwa charged au kupokea ktk fedha uliyokopa au kuweka.. Uislaam haukatazi service charges ambazo ni reasonable.. Hata faida kubwa ya kuumiza mtu hairuhusiwi..Maadam kuna makubaliano kati ya muuzaji na mnunuzi ktk bei iliyo reasonable hakuna Uharamu.

Click to expand...

Mkuu Mkandara, huu ujasiri wa kudai kuwa huyo mtaalamu hajui benki hizi zinavyofanya kazi eti ana assume what is going on kwa kusoma magazeti. Mmm, Watanzania kwa kudakia mambo - sasa huyo anayejua ndio nani hasa. Naomba usome kwa makini huu mjadala unaouata unaoendelea huko Moslem Congress ya Canada (MCC) kuhusu hizi benki. Mkuu Mkandara na hawa hawajui wanachoongelea ? Kumbuka kuwa hawa nao ni Waislamu kama wewe !


TORONTO - The Muslim Canadian Congress (MCC) has asked the Canadian Mortgage and Housing Corporation (CMHC) to abandon its $100,000 study to introduce so-called Islamic Banking in Canada, saying there should be no room in Canada for Saudi inspired Islamist political doctrines dressed up as innocuous religious requirements. In a letter to Karen Kinsley, Chief Executive Officer of the Canada Mortgage and Housing Corporation, the president of the Muslim Canadian Congress Farzana Hassan said, "Islamic Banking is nothing more than an attempt by Islamists, with backing from Middle Eastern Financial Institutions and their Western partners, to scare Muslim Canadians into believing that they should pay more to the banks and demand less in return as an act of religiosity. "
"Sharia Banking is an obscene attempt to fleece an already marginalized Muslim community while promising them the exact opposite. On the one hand Imams are warning Muslims of hellfire if they deal with the existing banking systems, and on the other the same clerics are being paid by banks to herd Muslims towards a system that is based on lies and deception.
What we need is a better deal from the banks for all Canadians, rather than dividing us up into religious groups and pacing obstacles in the way of better integration of all Canadians. Our banking system has developed in Canada over the last 200 years, and there is no need to adapt it to the failed economies and medieval systems modeled on Saudi Arabia and Iran," added Ms. Hassan.
In the letter, Ms Hassan said it was unfortunate that some Canadian Banks are succumbing to the lure of easy money that comes from supposed interest-free banking where customers receive zero interest on their deposits while paying more to the banks. "While the banks and their paid Imams and sheiks will make handsome returns, Muslim Canadians will end up as losers, with promises of rewards in the afterlife," she wrote.
"Religion has no place in the banking or mortgage industry and banks should desist from employing imams or sheikhs who sanctify so called Islamic bank products and mortgages. We are not living in the middle ages to get our financial cues from clerics claiming guidance from the divine," she added.
Explaining the deceptive workings of interest-free Sharia banking, as practised by Saudi and other Islamic banks, Ms Hassan said: "Muslim bankers and their hired clerics claim they indulge in interest-free banking, but in reality they hide this interest. So-called Islamic banking institutions claim they operate on "zero interest." However, the fundamental characteristic of charging interest is never truly eliminated in Islamic banking, but rather is hidden.
The MCC president referred the CMHC president to Muhammad Saleem, a former president and CEO of Park Avenue Bank in New York, who has written a book, Islamic Banking — A $300 Billion Deception. Mr. Saleem, who was a senior banker with Bankers Trust where, among other responsibilities, he headed the Middle East division and served as adviser to a prominent Islamic bank based in Bahrain, dismisses the founding premise of Islamic banking, saying, "Islamic banks do not practise what they preach: they all charge interest, but disguised in Islamic garb. Thus they engage in deceptive and dishonest banking practises."
The MCC president also referred the CMHC CEO to another critic of Islamic banking, professor Timur Kuran, who taught Islamic Thought at the University of Southern California, and who has authored, Islam and Mam-mon: The Economic Predicaments of Islamism, Prof. Kuran writes that the effort to introduce sharia banking "has promoted the spread of anti-modern currents of thought all across the Islamic world. It has also fostered an environment conducive to Islamist militancy."
Two other academics who have studied the phenomenon have reached similar conclusions. New Zealand business professors, Beng Soon Chong and Ming-Hua Liu of Auck-land University, in an October, 2007 study on the growth of Islamic banking in Malaysia, wrote: "Our study, however, provides new evidence, which shows that, in practise, Islamic deposits are not interest-free. " They concluded that the rapid growth in Islamic banking was "largely driven by the Islamic resurgence worldwide."
In the letter the MCC president said, an additional and related byproduct of Islamic finance is the legitimization and financial support by Western institutions for the type of radical Islamic scholarship and indoctrination. The need to certify shari’a-compliance of their Islamic products by "qualified shari’a scholars" has created demand for the services of experts that more often than not are the indoctrinated products of radical Wahhabi/Salafi shari’a faculties in Saudi Arabia and elsewhere, who generally hold views fundamentally inimical to the most ba-sic values of Western civilization.



Even a cursory look at the names, affiliations and views of popular shari’a scholars, such as Sheikh Yusuf Qaradawi, Sheikh Muhammad Taqi Usmani, Sheikh Mohamed Ali Elgari, Faysal Mawlawi, Sheikh Nizam Yaquby, Suleyman al-Maniya and others , many of whom sit on the shari’a advisory boards of dozens of Islamic banks and get paid princely sums from each, would make it clear that most are hard line Islamists and, in at least some cases, open supporters of terrorism. She informed the CMHC CEO that Mr. Qaradawi, a prominent Muslim Brotherhood ideologue, for instance, is chairman of the shari’a boards of the two Qatari Islamic banks owned by the ruling families among many others.
In another example, Muhammad Taqi Usmani, a radical Deobandi cleric and a former shari’a court member from Pakistan, who sits on dozens of shari’a boards in the West, is a key executive in the Karachi Deobandi ma-drassa Darul Uloom, which has trained and continues to train thousands of Taliban and jihadist cadres. He was also instrumental in the Pakistani government decision to declare the Ahmadi Muslims apostates and thus com-plicit in the murder and suffering of countless innocent Muslims. He is further on record preaching that Muslims living in the West "must live in peace until strong enough to wage Jihad’ against their fellow-citizens in order "to establish the supremacy of Islam."
The same is true about many of the trustees of various Islamic banking insti-tutions. The Dow Jones Islamic Fund (IMANX), for example, is owned by the North American Islamic Trust (NAIT) - a Saudi-controlled non-profit institution that holds title to hundreds of American mosques – which was recently listed by the US Dept of Justice as an unindicted co-conspirator in a terrorism financing trial in Dal-las, Texas.
"We urge the CMHC to not proceed any further with their ill advised initiative to promote Islamic banking in Canada. A crown corporation should not be a party to any venture that strengthens the jihadi movement and leads to the segregation of Muslims from the mainstream," Ms. Hassan added.
A copy of the letter was sent to Jim Flaherty, Minister of Finance and Monte Solberg, Minister of Human Resources and Social Development who is responsible for the CMHC.

Kiranga said:

Ingesaidia kubadilisha jina kwa sababu naona kuna watu wengi wasio waislam ambao wanaamini katika principles zinazoendana na "No Interest" banking, lakini ukiwaweka katika kundi la "Islamic banking" wanaweza ku-object kwa sababu wao si waislam. Ndicho nilichoeleza hapo juu. Sioni ugumu wa kulielewa hili unatoka wapi.

Kwangu mimi swala lililo complex kuliko hizi labels, ni kwamba hii "No Interest banking" ita zi turn financial institutions largely kuwa na profit margin ndogo, ukitumia reductionism ya ku focus kwenye hii type ya banking tu, utaona haiko profitable na ni kama charitable enterprise.Sehemu zote inakosimama hii inasimama kama a non profit system ambayo either inakuwa subsidized na njia nyingine, au inalipa kama PR kwa banks kujionyesha zinajali maswala ya jamii. Naona kama kila mtu atakuwa na option ya kupata "no loan interest" atachagua hiyo. Mwisho wake banks zitakosa incentives za kutoa loans. Mimi kwangu hili ni tatizo kubwa kuliko hilo la labelling.

Once this "No interest banking" is wiodespread, banks na financial institutions nyingine zitakuwa na incentive gani ya kutoa loans kwa mfano?

Click to expand...

Sioni kubadilisha jina ingesaidia lolote kwani kila financial transaction, deal, contract whatever in Islamic Financial System lazima ikubalike kulingana na Shariah: na ndiyo maana mabenki wanaajiriwa Wataalam wa Quran kuhakikisha process nzima inaendana na Shariah.

Sasa, unless you are trying to underestimate intellectual abilities za watu, sioni suggestion yako italeta mabadiliko yoyote. Put in another way: shit stinks just as bad whatever name you call it!

Mag3 said:

Mkuu Mkandara, huu ujasiri wa kudai kuwa huyo mtaalamu hajui benki hizi zinavyofanya kazi eti ana assume what is going on kwa kusoma magazeti. Mmm, Watanzania kwa kudakia mambo - sasa huyo anayejua ndio nani hasa. Naomba usome kwa makini huu mjadala unaouata unaoendelea huko Moslem Congress ya Canada (MCC) kuhusu hizi benki. Mkuu Mkandara na hawa hawajui wanachoongelea ? Kumbuka kuwa hawa nao ni Waislamu kama wewe !

MCC asks CMHC to drop $100,000 study to introduce Islamic banking in Canada
​

TORONTO - The Muslim Canadian Congress (MCC) has asked the Canadian Mortgage and Housing Corporation (CMHC) to abandon its $100,000 study to introduce so-called Islamic Banking in Canada, saying there should be no room in Canada for Saudi inspired Islamist political doctrines dressed up as innocuous religious requirements. In a letter to Karen Kinsley, Chief Executive Officer of the Canada Mortgage and Housing Corporation, the president of the Muslim Canadian Congress Farzana Hassan said, "Islamic Banking is nothing more than an attempt by Islamists, with backing from Middle Eastern Financial Institutions and their Western partners, to scare Muslim Canadians into believing that they should pay more to the banks and demand less in return as an act of religiosity. "
"Sharia Banking is an obscene attempt to fleece an already marginalized Muslim community while promising them the exact opposite. On the one hand Imams are warning Muslims of hellfire if they deal with the existing banking systems, and on the other the same clerics are being paid by banks to herd Muslims towards a system that is based on lies and deception.
What we need is a better deal from the banks for all Canadians, rather than dividing us up into religious groups and pacing obstacles in the way of better integration of all Canadians. Our banking system has developed in Canada over the last 200 years, and there is no need to adapt it to the failed economies and medieval systems modeled on Saudi Arabia and Iran," added Ms. Hassan.
In the letter, Ms Hassan said it was unfortunate that some Canadian Banks are succumbing to the lure of easy money that comes from supposed interest-free banking where customers receive zero interest on their deposits while paying more to the banks. "While the banks and their paid Imams and sheiks will make handsome returns, Muslim Canadians will end up as losers, with promises of rewards in the afterlife," she wrote.
"Religion has no place in the banking or mortgage industry and banks should desist from employing imams or sheikhs who sanctify so called Islamic bank products and mortgages. We are not living in the middle ages to get our financial cues from clerics claiming guidance from the divine," she added.
Explaining the deceptive workings of interest-free Sharia banking, as practised by Saudi and other Islamic banks, Ms Hassan said: "Muslim bankers and their hired clerics claim they indulge in interest-free banking, but in reality they hide this interest. So-called Islamic banking institutions claim they operate on "zero interest." However, the fundamental characteristic of charging interest is never truly eliminated in Islamic banking, but rather is hidden.
The MCC president referred the CMHC president to Muhammad Saleem, a former president and CEO of Park Avenue Bank in New York, who has written a book, Islamic Banking - A $300 Billion Deception. Mr. Saleem, who was a senior banker with Bankers Trust where, among other responsibilities, he headed the Middle East division and served as adviser to a prominent Islamic bank based in Bahrain, dismisses the founding premise of Islamic banking, saying, "Islamic banks do not practise what they preach: they all charge interest, but disguised in Islamic garb. Thus they engage in deceptive and dishonest banking practises."
The MCC president also referred the CMHC CEO to another critic of Islamic banking, professor Timur Kuran, who taught Islamic Thought at the University of Southern California, and who has authored, Islam and Mam-mon: The Economic Predicaments of Islamism, Prof. Kuran writes that the effort to introduce sharia banking "has promoted the spread of anti-modern currents of thought all across the Islamic world. It has also fostered an environment conducive to Islamist militancy."
Two other academics who have studied the phenomenon have reached similar conclusions. New Zealand business professors, Beng Soon Chong and Ming-Hua Liu of Auck-land University, in an October, 2007 study on the growth of Islamic banking in Malaysia, wrote: "Our study, however, provides new evidence, which shows that, in practise, Islamic deposits are not interest-free. " They concluded that the rapid growth in Islamic banking was "largely driven by the Islamic resurgence worldwide."
In the letter the MCC president said, an additional and related byproduct of Islamic finance is the legitimization and financial support by Western institutions for the type of radical Islamic scholarship and indoctrination. The need to certify shari'a-compliance of their Islamic products by "qualified shari'a scholars" has created demand for the services of experts that more often than not are the indoctrinated products of radical Wahhabi/Salafi shari'a faculties in Saudi Arabia and elsewhere, who generally hold views fundamentally inimical to the most ba-sic values of Western civilization.



Even a cursory look at the names, affiliations and views of popular shari'a scholars, such as Sheikh Yusuf Qaradawi, Sheikh Muhammad Taqi Usmani, Sheikh Mohamed Ali Elgari, Faysal Mawlawi, Sheikh Nizam Yaquby, Suleyman al-Maniya and others , many of whom sit on the shari'a advisory boards of dozens of Islamic banks and get paid princely sums from each, would make it clear that most are hard line Islamists and, in at least some cases, open supporters of terrorism. She informed the CMHC CEO that Mr. Qaradawi, a prominent Muslim Brotherhood ideologue, for instance, is chairman of the shari'a boards of the two Qatari Islamic banks owned by the ruling families among many others.
In another example, Muhammad Taqi Usmani, a radical Deobandi cleric and a former shari'a court member from Pakistan, who sits on dozens of shari'a boards in the West, is a key executive in the Karachi Deobandi ma-drassa Darul Uloom, which has trained and continues to train thousands of Taliban and jihadist cadres. He was also instrumental in the Pakistani government decision to declare the Ahmadi Muslims apostates and thus com-plicit in the murder and suffering of countless innocent Muslims. He is further on record preaching that Muslims living in the West "must live in peace until strong enough to wage Jihad' against their fellow-citizens in order "to establish the supremacy of Islam."
The same is true about many of the trustees of various Islamic banking insti-tutions. The Dow Jones Islamic Fund (IMANX), for example, is owned by the North American Islamic Trust (NAIT) - a Saudi-controlled non-profit institution that holds title to hundreds of American mosques – which was recently listed by the US Dept of Justice as an unindicted co-conspirator in a terrorism financing trial in Dal-las, Texas.
"We urge the CMHC to not proceed any further with their ill advised initiative to promote Islamic banking in Canada. A crown corporation should not be a party to any venture that strengthens the jihadi movement and leads to the segregation of Muslims from the mainstream," Ms. Hassan added.
A copy of the letter was sent to Jim Flaherty, Minister of Finance and Monte Solberg, Minister of Human Resources and Social Development who is responsible for the CMHC.

Click to expand...

NIMEIPENDA HIYO! Mkuu huo ni msimamo wa kundi na matakwa ya watu wake wa kundi linalohusika. Sioni tatizo wala ajabu kwa mtu mzima kujionyesha upumbavu wake na huyo Bwana hajafanya cha maana zaidi ya kuonyesha upumbavu wake wa kutoelewa kitu!

Hivyo nani aliemwambia Saudi Arabia wana shida ya kupata pesa kutoka kwa Mcanada aliekimbia kwao Pakistani au India kwa kutumia Islamic Banking System?

Wewe unaebandika habari hii sijuwi ulikuwa na maana ya kudicredit huu mfumo au ulikusudia vipi? Kama hiyo ndio haja basi umeingia mtego wa kujionyesha kutokujuwa. Saudi Arabia haihitaji fedha zao hao watu zaidi ya Hao waliowakaribisha hao wahamiaji wanakwenda Saudi Arabia kuzifuata fedha.
Halafu hili kwa upande wetu Waislamu wa Tanzania kama walivyofanya hao Waislamu wa Canada, nasi tunaweza kusema basi NI BORA MTUWACHIE WENYEW KUIKUBALI AU KUIKATAA! Kwani sasa naona lile suwala la Katiba halizukuriwi tena.

Mag3 said:

the same clerics are being paid by banks to herd Muslims towards a system that is based on lies and deception.
What we need is a better deal from the banks for all Canadians, rather than dividing us up into religious groups and pacing obstacles in the way of better integration of all Canadians. Our banking system has developed in Canada over the last 200 years, and there is no need to adapt it to the failed economies and medieval systems modeled on Saudi Arabia and Iran," added Ms. Hassan.
In the letter, Ms Hassan said it was unfortunate that some Canadian Banks are succumbing to the lure of easy money that comes from supposed interest-free banking where customers receive zero interest on their deposits while paying more to the banks. "While the banks and their paid Imams and sheiks will make handsome returns, Muslim Canadians will end up as losers, with promises of rewards in the afterlife," she wrote.
"Religion has no place in the banking or mortgage industry and banks should desist from employing imams or sheikhs who sanctify so called Islamic bank products and mortgages. We are not living in the middle ages to get our financial cues from clerics claiming guidance from the divine," she added.
Explaining the deceptive workings of interest-free Sharia banking, as practised by Saudi and other Islamic banks, Ms Hassan said: "Muslim bankers and their hired clerics claim they indulge in interest-free banking, but in reality they hide this interest. So-called Islamic banking institutions claim they operate on "zero interest." However, the fundamental characteristic of charging interest is never truly eliminated in Islamic banking, but rather is hidden.
The MCC president referred the CMHC president to Muhammad Saleem, a former president and CEO of Park Avenue Bank in New York, who has written a book, Islamic Banking — A $300 Billion Deception. Mr. Saleem, who was a senior banker with Bankers Trust where, among other responsibilities, he headed the Middle East division and served as adviser to a prominent Islamic bank based in Bahrain, dismisses the founding premise of Islamic banking, saying, "Islamic banks do not practise what they preach: they all charge interest, but disguised in Islamic garb. Thus they engage in deceptive and dishonest banking practises."
The MCC president also referred the CMHC CEO to another critic of Islamic banking, professor Timur Kuran, who taught Islamic Thought at the University of Southern California, and who has authored, Islam and Mam-mon: The Economic Predicaments of Islamism, Prof. Kuran writes that the effort to introduce sharia banking "has promoted the spread of anti-modern currents of thought all across the Islamic world. It has also fostered an environment conducive to Islamist militancy."
Two other academics who have studied the phenomenon have reached similar conclusions. New Zealand business professors, Beng Soon Chong and Ming-Hua Liu of Auck-land University, in an October, 2007 study on the growth of Islamic banking in Malaysia, wrote: "Our study, however, provides new evidence, which shows that, in practise, Islamic deposits are not interest-free. " They concluded that the rapid growth in Islamic banking was "largely driven by the Islamic resurgence worldwide."
In the letter the MCC president said, an additional and related byproduct of Islamic finance is the legitimization and financial support by Western institutions for the type of radical Islamic scholarship and indoctrination. The need to certify shari’a-compliance of their Islamic products by "qualified shari’a scholars" has created demand for the services of experts that more often than not are the indoctrinated products of radical Wahhabi/Salafi shari’a faculties in Saudi Arabia and elsewhere, who generally hold views fundamentally inimical to the most ba-sic values of Western civilization.



Even a cursory look at the names, affiliations and views of popular shari’a scholars, such as Sheikh Yusuf Qaradawi, Sheikh Muhammad Taqi Usmani, Sheikh Mohamed Ali Elgari, Faysal Mawlawi, Sheikh Nizam Yaquby, Suleyman al-Maniya and others , many of whom sit on the shari’a advisory boards of dozens of Islamic banks and get paid princely sums from each, would make it clear that most are hard line Islamists and, in at least some cases, open supporters of terrorism. She informed the CMHC CEO that Mr. Qaradawi, a prominent Muslim Brotherhood ideologue, for instance, is chairman of the shari’a boards of the two Qatari Islamic banks owned by the ruling families among many others.
In another example, Muhammad Taqi Usmani, a radical Deobandi cleric and a former shari’a court member from Pakistan, who sits on dozens of shari’a boards in the West, is a key executive in the Karachi Deobandi ma-drassa Darul Uloom, which has trained and continues to train thousands of Taliban and jihadist cadres. He was also instrumental in the Pakistani government decision to declare the Ahmadi Muslims apostates and thus com-plicit in the murder and suffering of countless innocent Muslims. He is further on record preaching that Muslims living in the West "must live in peace until strong enough to wage Jihad’ against their fellow-citizens in order "to establish the supremacy of Islam."
The same is true about many of the trustees of various Islamic banking insti-tutions. The Dow Jones Islamic Fund (IMANX), for example, is owned by the North American Islamic Trust (NAIT) - a Saudi-controlled non-profit institution that holds title to hundreds of American mosques – which was recently listed by the US Dept of Justice as an unindicted co-conspirator in a terrorism financing trial in Dal-las, Texas.
"We urge the CMHC to not proceed any further with their ill advised initiative to promote Islamic banking in Canada. A crown corporation should not be a party to any venture that strengthens the jihadi movement and leads to the segregation of Muslims from the mainstream," Ms. Hassan added.
A copy of the letter was sent to Jim Flaherty, Minister of Finance and Monte Solberg, Minister of Human Resources and Social Development who is responsible for the CMHC.

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Kwa kweli nakubaliana kabisa na mtazamo huu. Hizi Benki kuajiri "Shariah Council" kama sehemu ya utoaji huduma za benki za Kiislamu haikubaliki kabisa. Wanajaribu kufanya Shariah ikubalike na kuhalalishwa among mainstream Non-Muslims kama something totally harmless and even beneficial, while at same time wanawapatia ajira halaiki za Wanataaluma wa Quran/Shariah ambao wasingekuwa na kazi kutokana na kukosa elimu ya kisasa.

Bull said:

Islamic finance takes centre stage
How Islam Banking Lend without Interest
Murabaha - A form of credit that enables customers to make purchases without taking an interest bearing loan. The bank buys the goods for the customer and re-sells them to the customer on a deferred basis, adding an agreed profit margin. The customer then pays the sale price for the goods over instalments, effectively obtaining credit without paying interest.

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Nadhani watu waachiwe wafuate wapendacho.....

Islamic Banking: Interest-Free or Interest-Based?
By Beng Soon Chong and Ming-Hua Liu
Auckland University, New Zealand


http://www.efmaefm.org/0EFMAMEETINGS/EFMA ANNUAL MEETINGS/2007-Vienna/Papers/0019.pdf

Nilikuwa nipost nilichokiandika but sijui hii jamiiforum mpya ina matatizo au vp maana sikioni nilichokipost anyway kwa kuwasaidia ukisoma section 3 of BOT act inasema commercial bank yeyote ni financial institution inayoruhusiwa kufanya business of banking. Section 3 hiyo hiyo ikaja ikasema kuwa business of banking nanukuu , "means the business of receiving funds from the general public through the acceptance of deposits payable upon demand or after a fixed period or after notice, or any similar operation through the frequent sale or placement of bonds, certificates, notes or other securities, and to use such funds, in whole or in part, for loans or investments for the account of and at the risk of the person doing such business".

Tukienda katika BAFIA act ya 2006 ambayo iliboresha BAFIA act ya 1991 ikasema section 6 kuwa "A person may not engage in the banking business or otherwise accept deposits from the general public unless that person has a licence issued by the Bank in accordance with the provisions of this Part". tukiendelea section 9 inazungumzia masharti ya leseni nayo yakoje.

Sasa tukija katika banking products zinazoitwa islamic or shariah products ambazo zilianzia karne ya 20 na akina Mohammed Uzair, zinasema kuna Mudaraba ambayo inaoperate kuwa bank wanaguarantee fiduciary deposits lakini hawaguarantee return on investment. Kuna murahaba cost-plus mark up credit facility, kuna lease financing (ijara), Sukuk (loan) ambayo hii watu wanachajiwa according to their rating (credit rating). Sasa tukiviangalia hivi vitu sio vya kiislamu ni banking products kama zilivyo banking products zengine mfano fixed deposit, loan, overdraft, mortgage. Na banks kwa kutumia haki yao ya kikatiba na kibiashara kufanya biashara na hiyo inafanywa kuvutia wateja wasiopendelea riba au kuwekeza katika vitu ambavyo ni haramu kwa waislamu na watu wa dini nyenginezo. Zamani waislamu walikuwa wakitumia sana current account but siku hizi hawana haja ya hizo.

So in short huo ni ufafanuzi kwa wale wanapiga propaganda ya kuwa shariah products ni kwa waislamu jibu ni no ni kwa watu wote ambao wanahisi kuwa hizo products zina manufaa kwao na sio waislamu pekee. Nilikuwapo!!!!!

Hii Ndjabu!! mbona unajikashifu matatizo yako?.
Inaonekana hujui maana ya elimu,si hawa masheikh sasa wanahitajika kwa elimu zao ambazo wewe huna.
Wewe unafurahi sana waislamu wafe njaa kwa kukosa kuajiriwa.

Mimi nadhani kama ni benki kwa ajili ya waislamu, waachieni waislamu watumie benki yao, kuna tatizo gani? Kama wao hawataki riba, mjanja mwenye benki atafaidi hiyo riba wanayoikataa, wao Mungu atawajaalia pepo, kwani inawauma nini wenzenu wakienda peponi na ninyi mkabaki na riba zenu? Wewe usiyetaka islamic banking usipeleke pesa zako huko, kwisha.

Nimeiona hii nikapata udadisi kidogo. Hivi kwa sasa hivi taasisi kama BAKWATA, Ansar Sunnah, Bilal Muslim Agency, Islamic Propagation Centre, nk wanaweka pesa zao katika benki zipi, yaani akaunti zao ziko katika benki gani? Si ajabu wanahifadhi pesa katika mfumo ambao ni kinyume na imani wanayohubiri! Wanasema riba mi haramu, lakini akaunti zao huko ziliko zinapokea riba na sijui wanaifanyia nini hiyo riba, wanaigomea kuichukua au inakuwaje? Kimsingi nadhani inafaa kuwapatia watu kama hawa na wengine some kind of peace of mind, wasijisikie wanalazimishwa kutenda dhambi.

Nafikiri benki inayoleta wazo kama hili la islamic banking ina nia nzuri tu ya kukidhi mahitaji maalum ya wateja wake, na inastahili kupongezwa.

hivi makanisa yanaweka fedha zao wapi? kwani ukiristo si unakataza riba?

Gaijin said:

hivi makanisa yanaweka fedha zao wapi? kwani ukiristo si unakataza riba?

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Kwa kweli sijawahi kuwasikia wakristo wakikataza hiyo riba. Na majuzi makanisa ya waluteri na wakatoliki wamefungua benki zao za biashara, nakumbuka ile ya wakatoliki kule Dar nadhani inaitwa Mkombozi au Ukombozi, ilizinduliwa na rais mstaafu mzee Ruksa. Benki ya waluteri iko makao yake makuu Moshi pale Lutheran Centre. Huko kote riba ni kwa kwenda mbele, yaani wanaangalia mafao tu jamaa hawa.