Can this advert be for a bank in Nigeria?

Sanusi's Islamic bank    


http://www.gulf-daily-news.com/classifiedsdisplayenlarged.aspx?displayImage=classifieds/ads/2009-09-03/b_GULF021.GIF

[img]http://www.gulf-daily-news.com/classifiedsdisplayenlarged.aspx?displayImage=classifieds/ads/2009-09-03/b_GULF021.GIF
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not for nigeria, if its true, then i join those condemning Sanusi's action

What is acyually wrong with Islamic Banking? At least we can borrow without interest.
If anybody know itz flaws pls advice us.

I recommend one NLder called Abuzola

olabukola:

What is acyually wrong with Islamic Banking? At least we can borrow without interest.
If anybody know itz flaws pls advice us.

there's actually nothing wrong. . . .we don't just want wool pulled over our eyes in the name of bank rescue   

Islamic banking can't really survive side-by-side with normal banking, unless imposed by force.
Would you deposit your money in a bank that offers no interest when other banks offer interest?

Seun:

Islamic banking can't really survive side-by-side with normal banking, unless imposed by force.
Would you deposit your money in a bank that offers no interest when other banks offer interest?

The attraction is in the fact that the business is 'halal' which is attrative to the muslim Ummah. Ask 'Nasmalt' the malt drink started by Nasfat. People tend to get passionate about things they associate with their beliefs. . . , . .

Seun:

Islamic banking can't really survive side-by-side with normal banking, unless imposed by force.
Would you deposit your money in a bank that offers no interest when other banks offer interest?

Islamic bank is surviving well in the UK and conventional banks have islamic banking as a product so i am sorry your statment above is highly untrue. Your conclusion based on interst is not that simple if you understand banking. Islamic banking will give depositors profit out of the investments and the diffeerence is they both share the risks both bank and customer and likewise when it gives loan they both share the profit as well as the loss.

illusion2:

there's actually nothing wrong. . . .we don't just want wool pulled over our eyes in the name of bank rescue

Lets reason together, which is easier is it to raise 25 billion and start a new bank with a fresh image or acquiring a bank with billions of dollars in liabilities and bad image. Islamic bank is against interest and buying a bank built on interst will be an oxymoron of some sort.

These banks are PLC remember and sanusi cannot just dash anyone th e banks which has board of directors. Sanusi sacked the management and not the owners or shareholders of the banks. Management are paid employees different from owners although an owner could also be in the management like oceanic and intercontinental.

Lagosboy:

[b]Islamic bank is surviving well in the UK and conventional banks have islamic banking as a product so i am sorry your statment above is highly untrue.[/b] Your conclusion based on interst is not that simple if you understand banking. Islamic banking will give depositors profit out of the investments and the diffeerence is they both share the risks both bank and customer and likewise when it gives loan they both share the profit as well as the loss.

o boy how u dey i have been wondering what happened to you? hope you are well?

back to this matter. you have something running is different from surviving let alone successfull. UK banks know very well that apart from the funds they get from dubai and the arab states which by the way the fund managers dont place into sharia compliant islamic funds there is nothing to gain from any islamic banking system.

it will interest you to know that not even the bankers themselves are patronising this product cos barclays for example said only 17% of staff poled said they would use the products. note the intention to use not actually subscribing.

you know too weel the UK is a politically savy environment so dont think they are doing it becos it makes business sense.

good to know you are back and active again.

Lagosboy:

Lets reason together, which is easier is it to raise 25 billion and start a new bank with a fresh image or acquiring a bank with billions of dollars in liabilities and bad image. Islamic bank is against interest and buying a bank built on interst will be an oxymoron of some sort.

These banks are PLC remember and sanusi cannot just dash anyone th e banks which has board of directors. Sanusi sacked the management and not the owners or shareholders of the banks. Management are paid employees different from owners although an owner could also be in the management like oceanic and intercontinental.

lets reason together as well lagos boy,I personally dnt have any problem with I-banking ,d problem non-muslims have with this and 'sharia implementation' in a supposedly secular country like ours,is the promotion of one religion over the other. . . . . Everybody loves his religion & is protective of his/her beliefs. When we begin to throw our faith around in a supposedly non-religious environment. . . . THERE LIES THE PROBLEM.

in dubai,saudi etc,Islam is STATE RELIGION so no problems,u even have bank names like Islamic Bank etc. . . no one bothers becos we appreciate thats the religion officially here,but in a country like Nigeria,this'll just inflame tensions unnecessarily.

GEW:

o boy how u dey i have been wondering what happened to you? hope you are well?

Thanks my guy o i dey kampe , na chop money carry me go wey i no dey active , very soon God willing i shall be back full time

back to this matter. you have something running is different from surviving let alone successfull. UK banks know very well that apart from the funds they get from dubai and the arab states which by the way the fund managers dont place into sharia compliant islamic funds there is nothing to gain from any islamic banking system.

it will interest you to know that not even the bankers themselves are patronising this product cos barclays for example said only 17% of staff poled said they would use the products. note the intention to use not actually subscribing.

you know too weel the UK is a politically savy environment so dont think they are doing it becos it makes business sense.

good to know you are back and active again.

Barclays as far as i know dont have the product in the UK. Islamic bank of Britain is into full time islamic banking and has been waxing strong since 2004 when it came into inception.

If there is nothing to gain from islamic banking in the UK Llyods tsb and hsbc would have closed it long time as the product are targeted at retail banking and halal mortgages which has little or nothing to do with funds from the gulf countries. The products are targeted at the muslims and non muslims who prefer ethical banking and it is a niche market in the UK with about 10%muslim population.

illusion2:

lets reason together as well lagos boy,I personally dnt have any problem with I-banking ,d problem non-muslims have with this and 'sharia implementation' in a supposedly secular country like ours,is the promotion of one religion over the other. . . . . Everybody loves his religion & is protective of his/her beliefs. When we begin to throw our faith around in a supposedly non-religious environment. . . . THERE LIES THE PROBLEM.

in dubai,saudi etc,Islam is STATE RELIGION so no problems,u even have bank names like Islamic Bank etc. . . no one bothers becos we appreciate thats the religion officially here,but in a country like Nigeria,this'll just inflame tensions unnecessarily.

I feel your fear my guy and it is justified but lets not display unneccessary apprehension as this is just banking and a banking product to satisfy more than half the poupluation of Nigeria if they are interested. Any other religion that has a banking product could as well do the same with no issue at all. The fact that a bank is called islamic bank of Britain doesnt mean the 10% or less muslims are forcing their faith on the 90% population and it will be interesting to note that the management of the bank has many non muslims in it and several employees are non muslims.

Lagosboy:

The fact that a bank is called islamic bank of Britain doesnt mean the 10% or less muslims are forcing their faith on the 90% population and it will be interesting to note that the management of the bank has many non muslims in it and several employees are non muslims.

if they have it in teh UK. . . . .I have no probs becos 1. its not my country 2.They have enought strong institutions in place to protect everybody.

In Nigeria (my country ) however,a gov can declare whateva he wants arrest women for putting on trousers,watch as non-muslims are killed etc. . . .we don't have a proper system here.

illusion2:

lets reason together as well lagos boy,I personally dnt have any problem with I-banking ,d problem non-muslims have with this and 'sharia implementation' in a supposedly secular country like ours,is the promotion of one religion over the other. . . . . Everybody loves his religion & is protective of his/her beliefs. When we begin to throw our faith around in a supposedly non-religious environment. . . . THERE LIES THE PROBLEM.

Is Nigeria a secular or Multi-religious state? Please somebody should enlighten me.
The last time I checked there is 'SO HELP ME GOD' in our National Pledge.

Jarus:

Is Nigeria a secular or Multi-religious state? Please somebody should enlighten me.
The last time I checked there is 'SO HELP ME GOD' in our National Pledge.

The US has 'In God We Trust' as well & is still regarded as secular. Secularity isn't necessarily synonyous with atheistm or agnosticsm,it simply means seperation of Religious authority from governance.

The opposite would be a theocracy (like Iran),one of the most religious countries in teh World is Italy,which even has part of its geographic territory ceded to a particular faith(Vatican). . . .but its still secular.

You can believe in God ,but not bring in your religion to governance. . . .

It becomes clearer now, those 5 banks will be turned into 'Islamic Banks'

Are you people serious.

I hope you know 2 banks in Nigeria already have license to start Islamic Banking

The first is bank PHB

The second bank (JAIZ INTERNATIONAL BANK) received it license last year from the former CBN Governor, Soludo, the can only start when they raise the N25 billion.

The second wants to be a full fledged islamic bank compared to Bank PHB which will offer islamic banking on the side just like other foreign banks such as HSBC, Standard Chartered, Societe, Standard bank, etc.

and what LAW will they use to arrest people that BORROW money from Islamic bank and dont pay back?

EFCC or Sharia Law?

back2back:

and what LAW will they use to arrest people that BORROW money from Islamic bank and dont pay back?

EFCC or Sharia Law?

They will use the countries law. I think people are over exaggerating things a little bit. In the UK, France, etc they use the countries laws, not sharia. The only think sharia does is determine what type and how the products and services are offered.

They will use the countries law

Just like Sanusi did for the 5 banks the MD were sacked?

Hearsay at work again. Nigerians are a truly gullible bunch.

JosBoy4Lif:

Hearsay at work again. Nigerians are a truly gullible bunch.

explain yourself na. . .

Your original post insinuates that a general pamphlet is that of a Nigerian bank and was spearheaded by Sanusi.
This is what we call hearsay man. And like gullible Nigerians we have commentary criticizing already

JosBoy4Lif:

Your original post insinuates that a general pamphlet is that of a Nigerian bank and was spearheaded by Sanusi.
This is what we call hearsay man. And like gullible Nigerians we have commentary criticizing already

i won't say insinuates. . . . .I'd prefer. . . . . . hypothesise , & rather than assume these honourable Nigerians are 'gullible' i would commend them for holding an opinion,on pertinent issues whether current(existing) or probable. . . .

illusion2:

i won't say insinuates. . . . .I'd prefer. . . . . . hypothesise , & rather than assume these honourable Nigerians are 'gullible' i would commend them for holding an opinion,on pertinent issues whether current(existing) or probable. . . .

Wow you have one upped the fallible stupidity i heard earlier on another thread well done!
When you hypothesis something you are merely speaking in conjectures?
And for Nigerians holding opinions based on conjectures? Jesus Christ we are ruined.

[size=16pt]I BELIEVE THIS PROCESS IS CALLED ARABIZATION, AND ITS HAPPENING RIGHT IN FRONT OF OUR VERY EYES!![/size]

back2back:

Just like Sanusi did for the 5 banks the MD were sacked?

Yes, the law gives the CBN the power to step in and remove CEO's that have put their banks in a situation that can cause a risk to the economy and that can also affect other banks.

naijatoday:

Yes, the law gives the CBN the power to step in and remove CEO's that have put their banks in a situation . . . . . . . . . . . . . . . . . .

. . . . . . . . . but not to turn them to Islamic banks

illusion2:

. . . . . . . . . but not to turn them to Islamic banks

how has he turned any of the banks to Islamic Bank?

naijatoday:

how has he turned any of the banks to Islamic Bank?

the OP is merely babbling on a hypothesis that he made based on an [b]uneducated [/b]guess

I don't think there should be any apprehension on the setup of an Islamic bank. We should be tolerant of ourselves as people of the same country. There is a world phenomenon called freedom of association. let's all imbibe it. It is insinuations like this that are being raised here that contributes more to our backwardness.

Right now banks operate products that are interest free ran by muslims and no one sees anything wrong with that. Banks being ran by xtians operate these products. So what's the fuss about muslims putting their money in banks that fully support their beliefs. I won't be surprised if a Pastor of a church sits on the board of the so-called Islamic bank. Please let's be objective and not be guardian of religion. It is only God that can judge. Let's all focus on our personal interaction with God and learn to respect other people's beliefs.

God bless us all