Islamic banking goes nationwide

[Naden]

Thank you, Nur.

 

Any financial system moves money in the direction of the wealthy as they have the greatest power, I don't know how the Islamic system moves wealth from Allah to the people in these theories of finance.

 

Let's take the most common so-called Islamic practice (vs. so-called mainstream practices) and test it against how we understand the verses on Riba. I think if you go ahead and present your take, everyone else can pitch in and it won't necessarily all fall on you to prepare a time-consuming piece.

 

Movement of wealth to the poor, in any form, is only partly attributed to financial systems.

[Nur]

Naden sis

 

You write:

 

"Any financial system moves money in the direction of the wealthy as they have the greatest power, I don't know how the Islamic system moves wealth from Allah to the people in these theories of finance. "

 

 

Which is precisely why the big boys are afraid from a true Islamic Banking institutions and Islamic Law.

 

 

I will post my take later, inshaAllah, good suggestion!

 

 

Nur

[Fabregas]

For any of those interested HSBC(London) is doing a summer internship in the Islamic Amanah section and yes Islamic financing is fashionable nowadays, so get your books, courses and plan to get in on it. That is, if your a budding faraxconomist or xalimconomist. Plus it gives it gives you the chance improve your profit and loss balance sheet for the Akhira. Of course there are some issues concerning how Islamic this really is, but the Shariah says take the lesser of the two evils, as a Muslim explained to me the other day. Little Islamic is better than no Islamic @ all.

[Fabregas]

quote:An internship is the perfect way to find out more about a career path and a company’s culture before you choose your next move. For us, internships offer a great way to introduce some of the brightest and best new talent to our organisation and to show them some of the possibilities for a great future with us.

 

HSBC Amanah offers a 10-week summer internship to penultimate-year students. This gives you the chance to experience the realities of a truly global bank first-hand. So join us for the summer and you will gain vital experience and test yourself in a world-class workplace.

 

During the structured programme, you will complete a comprehensive induction programme, be fully integrated into a core business area and make a valuable contribution to our business. There will also be a busy calendar of business briefings, workshops and social events.

 

There is a lot of competition for places, and they are given to those who we believe show the most interest, enthusiasm and potential. Secure a place and you will soon begin to understand why we are a leading global organisation and why HSBC Amanah is such an exciting and dynamic area in which to work. It is no surprise that many of our summer interns are offered places on our full-time programme once their studies are

 

 

http://www.hsbcamanah.com/1/2/hsbc-amanah/about-us/people/careers/hsbc-amanah-careers-summer-internships

[Blessed]

HSBC Amaanah (and the like) is not Islamic or sharia compliant because HSBC remains a riba based institute. They still make the bulk of their profit from charging interest.

 

For a Bank to be Islamic it has to be halaal and riba free from start to end. There should be no dealing either directly or indirectly with anything that is deemed haraam. It's also supposed to benefit all consumers equally, not just Muslims. This is just the short of it..

 

The only institute that can be regarded islamic is therefore; The Islamic Bank of Britain.

 

The rest are just schemes to attract (and mislead) Muslim consumers. It's annoying. :rolleyes:

[Nur]

Naden sis

 

I am working on a new post about Islamic Financial Transactions ( Fiqhul Mucaamalaat), the Islamic worldview on wealth, its aquisition, transfer and philanthropy ( Awqaaf). InshaAllah, it will open new doors of knowledge on complex issues.

 

Nur