[13 July 2012] Is Islamic banking applicable in today economy - English
[13 July 2012] Is Islamic banking applicable in today economy - English
After the baking crisis of 2008 and the collapse of financial markets,...
[13 July 2012] Is Islamic banking applicable in today economy - English
After the baking crisis of 2008 and the collapse of financial markets, doubts have emerged on the capability of the modern financial model to sustain a healthy economy. With the failure of both capitalism and communism, some experts, especially in Muslim countries are looking at Islam to find an alternative model. Islam's strong prohibition of usury (Riba) in particular is seen as a new foundation for a healthy banking system and consequently a sustainable and fairer economy. Other Islamic institutions like zakat and waqf (endowments) have potential economical functions.
In recent years Islamic Banking for example, has been tried with some success in some of Muslim countries and even in Britain. British Financial Services Authority estimates the assets controlled by Islamic banks at the global level to be $200-500bn which is growing at a pace of 10-15% per year. With prospect of about 12 million Muslims living in EU, Islamic financial and economical model is a feasible solution for the future. This week's Islam and Life asks: Are the principles of Islamic banking applicable in today's economy?
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News4U-Hamas criticizes Saudi Arabia over Hajj - English
A Hamas senior official has lashed out at Saudi Arabia for not granting visas to Gazans who want to go on the Hajj pilgrimage.
In remarks posted...
A Hamas senior official has lashed out at Saudi Arabia for not granting visas to Gazans who want to go on the Hajj pilgrimage.
In remarks posted on Hummaas's website, Atef Edwan said Riyadh had allowed thousands of people registered with the Palestinian Authority in the West Bank to have visas but not the 2,200 in Gaza who applied through Hummaas, AFP reported.
"By ignoring those Gaza pilgrims registered with the Waqf (department of religious affairs) Saudi Arabia is making a political mistake that will have negative consequences on the Saudi regime and the whole region," AFP quoted Edwan as saying.
Meanwhile media outlets quoted unnamed witnesses as saying that Hummaas police set up checkpoints across Gaza on Saturday, to prevent those who coordinated their pilgrimage with the movement's rival, the Palestinian Authority from traveling.
Since last month tensions between Hummaas and the Palestinian Authority has heightened as the Palestinian Authority Chief Mahmoud Abbas increased the detention of Hummaas' members.
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[Motion Graphics] تغییر حالت نمایش شما هم می...
چگونه می توان واقف بود؟ شما هم می توانید در این سرمایه گذاری بزرگ شرکت کنید و از...
چگونه می توان واقف بود؟ شما هم می توانید در این سرمایه گذاری بزرگ شرکت کنید و از برکت دنیوی و اخروی بالای آن بهرمند شوید.
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[Friday Sermon] Using this World without being Its Slave; Ali\'s...
- Minimum wage mandatory raise in the province of Ontario and its reactions within all aspects of society.
- Employees receive higher wages,...
- Minimum wage mandatory raise in the province of Ontario and its reactions within all aspects of society.
- Employees receive higher wages, however some employers cut off other benefits and plans as a result.
- In any country, when the government want to handle their own finances or budgets, it’s always the poor section of the society who suffers the most.
- On the other hand, officials and executives continue living a lavish lifestyle.
- Narration of Khutba # 209 of Nahjul Balagha.
- The advice given in the above Khutba is relevant to us even today.
- The executives who cut budgets should first start from themselves.
- Imam Ali(a.s) was not poor. He had many properties and wells that he gave away as waqf for charity.
- Imam Ali(a.s) ate only dry bread in-spite of having the means. This was to maintain the lowest level so that even the poor people of the society could relate to him.
- Imam Ali(a.s) is an eternal example for the Muslim world and the wise people of the world.
- Islam does not believe in complete isolation in order to enhance spirituality.
- We can use the luxury of this world but not become its slave.
- Islam only believes in temporary isolation known as ‘iteqaf’
- What we need to be careful of is the ‘greed’.
- Example of the fly that sits on the sugar and of the fly that sits on honey.
- We should not submerge into the luxury of this world and become its slave.
- Quote of passages from dua # 8 and #39 of the 4th Imam from Sahifa Sajjadiyya.
MP3:
https://s3.amazonaws.com/JCC/Fridays/FridayKhutba_Rizvi_2018-01-12_12-59-48.mp3
Friday Juma Khutba
Recited By: Maulana Syed Muhammad Rizvi
Date: January 12th, 2018
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www.islamicentre.org
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