tag:blogger.com,1999:blog-1069457624670089531.post5274991490976592049..comments2023-10-01T12:08:35.448-07:00Comments on Heart Beats: What is in a name?dr.antonyhttp://www.blogger.com/profile/16191095888228061156noreply@blogger.comBlogger25125tag:blogger.com,1999:blog-1069457624670089531.post-13358357500112811742010-11-07T18:10:12.219-08:002010-11-07T18:10:12.219-08:00@Raji
Not so simple. If you want to take a car loa...@Raji<br />Not so simple. If you want to take a car loan,the bank will buy the car for you,and then take money back in instalments with what they call " commission" added. The bank will not say they gave u the money on interest.The bank will also invest in Sharia compliant investments,make profit and then distribute it to the depositors. They call it profit,instead of interest. It is partly a play of words.dr.antonyhttps://www.blogger.com/profile/16191095888228061156noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-69631172091259860322010-11-07T10:27:34.195-08:002010-11-07T10:27:34.195-08:00hey i was never aware of this"islamic banking...hey i was never aware of this"islamic banking".no interests too for loans..sounds interesting.would this be only for "muslim community"?and then how would they assure return of the loans?rajihttps://www.blogger.com/profile/18095103429113436115noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-87384923727452750062010-11-06T11:38:14.001-07:002010-11-06T11:38:14.001-07:00@Harimohan,
Welcome to the blog.
Our politics surv...@Harimohan,<br />Welcome to the blog.<br />Our politics survive on the basis of minority appease.We need the London School of Economicsteach that.<br />@Anonymous and Padma<br />Islamic banks invest in Sharia compliant investments.Thy defenitely create income,but they call it by the name profit.Islam prohibits interest,but they can accept profit.<br />@Heavenly Muse<br />Welcome to the blog.<br />It is in the name.If there is something good in that kind of banking, there is nothing wrong in incorporating the principles in to the existing banking system.But in a secular country, can we leave the control to Sharia Councils.<br />@Joe <br />That is the question.<br />@Insignia<br />Unfortunately, we have a very compassionate government.<br />@Bikrom<br />Yes..Jai to whom ?dr.antonyhttps://www.blogger.com/profile/16191095888228061156noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-44593670731109789792010-11-06T04:58:43.987-07:002010-11-06T04:58:43.987-07:00i wonder if our super rich politicians would like ...i wonder if our super rich politicians would like to invest their money in banks that don't offer interest.I feel they should lead by example and this interest free investment can be utilized for developmental enterprises. i know I am being unrealistic but there is no harm in wishful thinking isn't it?Hip Grandmahttps://www.blogger.com/profile/16891699611146003601noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-53999293080264336052010-11-04T18:45:44.094-07:002010-11-04T18:45:44.094-07:00practically interest and profit look the same but ...practically interest and profit look the same but it seems profit is when there is some work done on the money to produce something, so the result of work. are islamic banks in reality differ with other banks in their handling money?...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-42135512479295025592010-11-04T12:07:33.486-07:002010-11-04T12:07:33.486-07:00when sanskrit is introduced in varsities it is saf...when sanskrit is introduced in varsities it is saffron tinted and now this <br />our PM is just an Endhiran under Italian remote but where is the famed economist when he falls to such sectarian compulsions ?harimohanhttps://www.blogger.com/profile/18105229701118099822noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-8402564999471396842010-11-04T09:35:30.630-07:002010-11-04T09:35:30.630-07:00well JAI ho indian govt..
thats all i can say af...well JAI ho indian govt.. <br /><br />thats all i can say after reading this ... <br /><br /><a href="http://www.mann-bikram.blogspot.com" rel="nofollow">Bikram's</a>Bikramjit Singh Mannhttps://www.blogger.com/profile/18313466956044935335noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-46086677291284396152010-11-04T02:35:23.728-07:002010-11-04T02:35:23.728-07:00Hi
My father is a retired banker.All life we kept ...Hi<br />My father is a retired banker.All life we kept on debating about interest matter and Islamic views and the impact of interests on social stratification.<br />though he spent 20 years doing banking job he never spoke in the favour of interest.your post show that you researched a lot.<br />I personally believe that if you find a way more easy to tread upon we just opt it without giving it the title of any religious belief.Aroojhttps://www.blogger.com/profile/08977139014206764597noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-76097284716609135232010-11-04T00:03:58.711-07:002010-11-04T00:03:58.711-07:00Oh God!! Why does our government complicate things...Oh God!! Why does our government complicate things for common man!! Just imagine if it becomes a reality.Insigniahttps://www.blogger.com/profile/09819054091062923489noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-72378913202586456732010-11-03T11:40:08.013-07:002010-11-03T11:40:08.013-07:00Yes, the general opinion "do we really need i...Yes, the general opinion "do we really need it?"<br />There are so many other burning issues that have to be addressed.Haddockhttps://www.blogger.com/profile/11573906991666088642noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-49101205757820213752010-11-03T00:26:40.352-07:002010-11-03T00:26:40.352-07:00@stranger
they can accept profit,but not interest....@stranger<br />they can accept profit,but not interest.I have nothing against any feasible banking principle.But not a religious baranding.<br />@ BKC<br />Oh..you know that.But they also piss in their pyjamas when they hear the name.<br />@SG<br />But then what about other communities? Dont they have a say as well?<br />@QPC<br />Yes,I know that.But the problems arise when it is applied to a secular state.dr.antonyhttps://www.blogger.com/profile/16191095888228061156noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-83363994387631553952010-11-02T06:04:38.533-07:002010-11-02T06:04:38.533-07:00Islamic banking is common here in my country. Pro...Islamic banking is common here in my country. Profit sharing is just another way of getting interest.. that's how I look at it.Quay Po Cookshttps://www.blogger.com/profile/05828992142187594236noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-61271116888939455012010-11-01T23:18:47.085-07:002010-11-01T23:18:47.085-07:00I am OK with it as long as it is wholly funded by ...I am OK with it as long as it is wholly funded by private individuals and no public/government funding is involved.SGhttps://www.blogger.com/profile/05790347071764332430noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-36060881751848515602010-11-01T22:57:42.944-07:002010-11-01T22:57:42.944-07:00Yes, it was reported in the ET about Islamic banki...Yes, it was reported in the ET about Islamic banking in India.<br />What else can we expect from a Govt. which survived only on minority appeasement.BK Chowla,https://www.blogger.com/profile/03869011550287421537noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-91296336534116684052010-11-01T11:55:11.144-07:002010-11-01T11:55:11.144-07:00Nice post Physician. As always you take subjects w...Nice post Physician. As always you take subjects which are relevant.<br /><br />Islamic banking is normal in our part of the world. They dont charge interest but they have various fees and it is quite high like the interest.<br /><br />For deposits they dont provide interests and many Muslims feel okay with that. They might get profit percentage of the bank every year. They consider it not as interest.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-67448000306031413842010-11-01T05:53:06.153-07:002010-11-01T05:53:06.153-07:00@Kavitha
To me, the name is not appealing. It is n...@Kavitha<br />To me, the name is not appealing. It is not difficult to modify existing rules or to add any newer portfolios. Islamic Banking doesnt mean no returns.They give it a different name, profit.<br />@clouds & Rachna<br />Thanks for the visit<br />@ madhu<br />It defenitely creates profit. How can a bank run otherwise? They give it another pet name, that is profit, in place of interest.Islam doesnot prohibit profit,only interest.They invest and make profit and then divide the profit for investors.There are always ways!!<br />@ Harman<br />The general opinion.Do we really need it? That is the question.<br />@NRI girl<br />You are,as usual,wise.<br />@Anit,<br />Yes,this is our major concern.These funds are controlled by Sharia Councils,than government.<br />Generating income is on the same principles,except that the investment is only to Sharia compliant investment. They wont invest in Pork or alcohol for example.They by pass the interest issue,by buying you the car,instead of giving the money.It works out the same.dr.antonyhttps://www.blogger.com/profile/16191095888228061156noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-38729985139184236532010-10-31T19:01:09.259-07:002010-10-31T19:01:09.259-07:00The principle of not charging interest and usuriou...The principle of not charging interest and usurious transactions seems fine. Then the question arise how would the cost be met?<br />Again anything with minority content is sacrosanct in India , especially when it is something related to Islam.Flow of funds and application of funds will have to be controlled by the RBI like for any FDI remittance. Because it is also a fact that we must have the guts to acknowledge- money from repressive dogmatic regimes in the Gulf are finding ways into the hands of home grown militancy with various colour coding.anilkurup59https://www.blogger.com/profile/07961961217418715354noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-56667556939909032502010-10-31T16:05:59.245-07:002010-10-31T16:05:59.245-07:00Mmmmm... no comments...Mmmmm... no comments...NRIGirlhttps://www.blogger.com/profile/02709704269988589729noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-58895882855020243522010-10-31T11:01:41.793-07:002010-10-31T11:01:41.793-07:00..Islamic banking....well I will never vote for th.....Islamic banking....well I will never vote for that...Cuz...so many religions ,so many people ...I mean its absurd a..whole new agenda and legislation...there are several other issues that needs to be taken care off..rather then simplifying problems why multiply?hamaarethoughts.comhttps://www.blogger.com/profile/13355838190699373168noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-44990468182249778282010-10-31T07:34:22.670-07:002010-10-31T07:34:22.670-07:00Huh? Islamic Banking? I don't get this, if the...Huh? Islamic Banking? I don't get this, if they do not charge interest, they should also not get profits right? <br />Anyway, I never understood many Islamic ways, I really would not like to understand to be honest. <br /><br />Watch for it, tomorrow, some other caste will come up and say they want a separate banking system. <br />I think democracy is no longer relevant in India.Madhuhttps://www.blogger.com/profile/09742930370657731818noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-86636907712201433152010-10-31T06:05:39.878-07:002010-10-31T06:05:39.878-07:00Interesting topic. Don't really know what view...Interesting topic. Don't really know what view to offer.Rachnahttps://www.blogger.com/profile/02275266551382931603noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-83881794033933888382010-10-31T00:23:32.073-07:002010-10-31T00:23:32.073-07:00hey nice blog.....hey nice blog.....Ms Cloudshttps://www.blogger.com/profile/15636596888236618808noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-9808260153168758782010-10-30T22:14:36.127-07:002010-10-30T22:14:36.127-07:00@A
I think you misunderstood me. It is some thing ...@A<br />I think you misunderstood me. It is some thing like " have your say". I modified the post.dr.antonyhttps://www.blogger.com/profile/16191095888228061156noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-88893021329837154322010-10-30T21:21:45.293-07:002010-10-30T21:21:45.293-07:00If many of world's leading financial hubs alre...If many of world's leading financial hubs already have flourishing I.B. ,then in my opinion i see no harm in it happening in India .The biggest hurdle would be setting up a different legislation .Kavita Sahariahttps://www.blogger.com/profile/11342095914702911870noreply@blogger.comtag:blogger.com,1999:blog-1069457624670089531.post-78307401215452461892010-10-30T15:31:06.725-07:002010-10-30T15:31:06.725-07:00Are you serious? Islamic banking...is not it enoug...Are you serious? Islamic banking...is not it enough to have separate family law based on religion? Now separate banking based on religion.Amrithttps://www.blogger.com/profile/16023510703283897521noreply@blogger.com