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Nairaland Forum / Nairaland / General / Politics / House Of Reps Okays Islamic (non-interest) Banking (7894 Views)
Senate, Reps Okays Pay Cut / Non-interest Banking Is Originally A Christian System Of Banking / "Non-interest Banking", Why Use That Frieghtful Aglorithme"Islamic Banking" (2) (3) (4)
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Re: House Of Reps Okays Islamic (non-interest) Banking by igboboy1(m): 11:21pm On Jul 22, 2011 |
nakedall: Anuofia do your research na Yoruba be the first, half of Yorubas are muslims thats whey fashola is keeping quiet cos he like am, even that ugly baboon musilu of yorubaland adegbite is chief organizer of this sharia thing, na so una go dey judge with your eyes closed, DO you think the north can succeed without their Yoruba muslim brothers? Every islamization act in this country has been done in tandem with the Yorubas na lie ok OIC membership, go and read and see who IBB consulted whether no be Yoruba Sharia who dey for power then? no be obj? OK sharia bank? no be adegbite musilu one of the whole yorubaland? ANuofia research next time before you spew ignorance |
Re: House Of Reps Okays Islamic (non-interest) Banking by Akainzo(m): 11:24pm On Jul 22, 2011 |
all4naija:I'm amazed at your lack of reasoning, its a guidelines to operate Islamic Banks within the banking system of Nigeria, not that he is changing the banking system to an Islamic banking setup. Kai, your ignorance is nauseating. Thanks for seeing that in bold. How the random attacked on Christians and non -Christians carried out in the North, You have forgotten that Islamic individuals in positions give out information about non muslims to be executed. Who are you trying to fool here?You are talking like a kindergarten, grow up and stop believing in stories. Being a christian is very much different than banking details. Shut up! We don't want Islamic Banking- Nigeria is a free society. You can't just bring it into the country without me agreeing to it. Nigeria doesn't belong to Muslims alone.If you are smart enough, you'd know that Nigeria being a free society is a reason why Islamic banking should be incorporated for those Nigerians that desire it. And when has it been that all policies of government are debated by all. Did you get to approve Soludo's consolidation agenda. You think too much of your demented self. Grow up. You are the ignorant one. Why hammering on the non-interest side of it when you know that it has other sectors? So, you are the one with the problem of not being able to express yourself well. You called in non-interest bank (Islamic Banking) .This prove your religion hypocrisy.Your stupidity is nauseating. Islamic banking is based solely on non-interest credit facility either for deposits, investments or financing. like i said earlier, use your brain and read up before going on an emotional stupidly jaundiced ranting. This is where you are wrong. Some foreign banks are operating it doesn't mean it is signed into law. It is just that some of the operations of these banks are in accordance with the USA system and to serve the Islamic part of the society they allowed it. For your information, I haven't seen where USA society is so religious to the extent of resorting to killing citizenry for petty issue. Northerners are religious. What do you say about Sharia? It was said it will serve the North well.You are definitely on drugs! please read what you wrote there and then ask yourself if you do not deserve a slap. After seeing all your simplistic responses I decided not to answer you for the basic reason you are not seeing the problems. You can not see the problems because you are seeing things from a religious perspective.My response to you was simplistic? ![]() |
Re: House Of Reps Okays Islamic (non-interest) Banking by kabukabu(m): 11:28pm On Jul 22, 2011 |
Please dont even start to lecture us about "tolerance", how many "Christian" establishments are there in Saudi Arabi ![]() ![]() ![]() |
Re: House Of Reps Okays Islamic (non-interest) Banking by emmatok(m): 11:31pm On Jul 22, 2011 |
salamsm: Fool, so all your Sharia Governors don't collect allocations made from Breweries, Tobacco companies and hotels. YEYE people. |
Re: House Of Reps Okays Islamic (non-interest) Banking by passyjango(m): 12:05am On Jul 23, 2011 |
What is Islamic about Islamic banking. Do you have to wash your legs five times a day or visit Mecca? The fact is that the only reason why Muslims and Sanusi are insisting on the name Islamic is just to massage their ego. There is nothing Islamic about lending money to people on a non-interest basis, we all do that for friends and family. Even some non-religious humanitarian organisations have such schemes. Am sure that is why some smart people don't care about the nomenclature. Muslims can keep deceiving themselves that non-interest banking is their idea, while we will own, run, and make money from the so called Islamic banks. After all, for a smart businessman, it is the bottom-line that matters not the nomenclature. Besides there will still be room for non interest banks that will not follow Islamic ways. |
Re: House Of Reps Okays Islamic (non-interest) Banking by NegroNtns(m): 12:16am On Jul 23, 2011 |
<Quote> Islamic banking is a product of banking system such as commercial or micro finance. </quote> It came out of Quran. |
Re: House Of Reps Okays Islamic (non-interest) Banking by Decryptor(m): 12:18am On Jul 23, 2011 |
Why wont they "okay" it? Useless bunch of F.A.G.G.O.T.S! |
Re: House Of Reps Okays Islamic (non-interest) Banking by Nobody: 12:44am On Jul 23, 2011 |
With all our economic problems, islamic banking is the pressing issue our reps and banking policy officials need to tackle? |
Re: House Of Reps Okays Islamic (non-interest) Banking by jmaine: 12:46am On Jul 23, 2011 |
Find Out!: Enough of your silly insinuations . . . For your information . . .a look at your amiable Sanusi lying just to achieve his objective . . Sanusi also said that he invited the Christian leadership to a conference where he could have explained the intricacies of Islamic banking, but you didn’t show up http://www.sunnewsonline.com/webpages/features/newsonthehour/2011/july/09/newsbreak-09-07-2011-001.html |
Re: House Of Reps Okays Islamic (non-interest) Banking by lastpage: 1:23am On Jul 23, 2011 |
Anytime there is a "dirty deal" to be made, guess where 'they go'? Reminds one of the Nzeribe and Chukwumerije era! I guess until the "process and procedure" for RECALLING these irritant lawmakers is properly detailed and documented, we shall continue to have this kind of democracy devoid of representation! mtchew |
Re: House Of Reps Okays Islamic (non-interest) Banking by Muza(m): 1:26am On Jul 23, 2011 |
Sanusi carry go jor,I dey your back. . . when is it kicking off,i need to borrow some cash ![]() |
Re: House Of Reps Okays Islamic (non-interest) Banking by Akainzo(m): 1:31am On Jul 23, 2011 |
kabukabu: And since we are talking about "tolerance", how many "Muslim" establishments are there in Israel?? Am sure you didn't get to the point where it was noted that Saudi Arabia is a Muslim/Islamic country while Nigeria is a secular country! By the way, Nigeria is secular yet it subsidises the bills for pilgrimages to Israel and Saudi Arabia. Think about that. You might also want to read up about constitution drafting in Nigeria and learn that Sharia has been in our constitution since 1979. Is that long enough for your 20 years mis-jive? |
Re: House Of Reps Okays Islamic (non-interest) Banking by Nobody: 2:21am On Jul 23, 2011 |
Akainzo: 14 mosques. Al aqsa mosque is in east Jerusalem. Akainzo: that is the problem with islam . . . they want "their" own BUT they want your own too! Funny how Saudi Arabia is a muslim nation but everyone else MUST be secular so muslims can have a foothold. Akainzo: Actually that is a sign of an unserious country. I dont know any other developed country that is involved in such. Akainzo: Are we secular or under sharia law? make up your mind dude. |
Re: House Of Reps Okays Islamic (non-interest) Banking by BetaThings: 2:33am On Jul 23, 2011 |
davidylan: The Al-Aqsa mosque predate the establishment of the state of Israel. And right to it is contested by peoples of Palestine and Israel. So it is not there because Israel is tolerant You should tell us the number of mosques in the occupied territories before Israel took over the place after WWII And how many mosques are being built in those places that Israelis are grabbing daily davidylan: How? Please tell us how the country came into being. Its founder was a muslim and made a muslim country just like the vatican is a christian state How can that be wnating your own. Which is YOUR OWN? Or are you saying that Nigeria is a christian state already? How may muslim establishments are in the vatican? Let us even look at the argument. why are christians opposed to Islamic banking? Do the conventional banks conform fully to christian principles? If not, do christians want to do something about it? |
Re: House Of Reps Okays Islamic (non-interest) Banking by Akainzo(m): 2:38am On Jul 23, 2011 |
davidylan:Quite ingenious of you to list mosques in East Jerusalem that used to be in a part of another 'state' but is now an occupied territory. Very ingenious. that is the problem with islam . . . they want "their" own BUT they want your own too! Funny how Saudi Arabia is a muslim nation but everyone else MUST be secular so muslims can have a foothold.Probably the same problem with every minority group/sect/tribe that want their own. You can ask the Christians in Egypt if they do not want their own as well. And by the way, has Saudi Arabia being a muslim nation stopped Italy from being a christian nation? Nigeria chose to be secular just as UK and other secular nations. Actually that is a sign of an unserious country. I dont know any other developed country that is involved in such.At least we agree on something. Nigeria has no business with pilgrimages. Are we secular or under sharia law? make up your mind dude.My guy I only stated what the constitution of the nation says. It says we are secular but recognises the sharia system as part of the nation's heritage or jurisprudence. You should be directing that question to the CDC folks, especially OBJ, that put the sharia in the nations constitution. All i am pointing out is that sharia has been in our constitution and thus part of this nation since the 1979 constitution, you might not like it or want it but it is still there. |
Re: House Of Reps Okays Islamic (non-interest) Banking by BetaThings: 2:40am On Jul 23, 2011 |
emmatok:The governors are politicians. We know that politicians are insincere. So you cannot just Islam by that Unless you want us to conclude that christians are not satisfied with the Bible when governors of christian states go to Okija shrine? |
Re: House Of Reps Okays Islamic (non-interest) Banking by BetaThings: 2:44am On Jul 23, 2011 |
all4naija:I hope you know that christians call non-believers infidels. Were the situation reversed, the christians would be getting allocation from people they too regard as infidels! |
Re: House Of Reps Okays Islamic (non-interest) Banking by jmaine: 2:49am On Jul 23, 2011 |
Edited . . . |
Re: House Of Reps Okays Islamic (non-interest) Banking by Nobody: 4:23am On Jul 23, 2011 |
Akainzo: 1. you are disgusting and ignorant hypocrite. 2. the term is "disingenous" not "ingenous" 3. There is a mosque in haifa and two in akko. Those are certainly not in occupied territory and NOT part of another state. 4. East jerusalem has always been a part of Israel - captured illegally in 1947 by Jordan. 5. its interesting you say east jerusalem used to be part of another state - Jordan. So exactly HOW is it "occupied" territory since Jordan already renounced rights to it way back in 1988? Akainzo: this is confused. What are you saying? What are you responding to? The christian copts in egypt were there LONG before arab islam invaded Egypt. Should we remove their churches now to please allah? Akainzo: Yet Rome has one of the largest mosques in Europe . . . what was your point? Akainzo: You cant have it both ways - Nigeria is "secular" and yet has sharia law in its constitution? Akainzo: Convoluted nonsense. secularity and sharia law are two sides of the coin. |
Re: House Of Reps Okays Islamic (non-interest) Banking by Nobody: 5:01am On Jul 23, 2011 |
My response to you was simplistic? Your replies and thoughts are so very archaic that i can only perceive that you are thinking from your religious anus. Go get it examined.For your information am an athiest. So, for trying to push me hard, I say f-u-c-k you, f-u-c-k Mohamed and your religion! Who is this muda fuker? Do you think I give a damn about your religion and your stupid Islamic Bank? F-u-c-k you! |
Re: House Of Reps Okays Islamic (non-interest) Banking by Nobody: 5:04am On Jul 23, 2011 |
Sanusi carry go jor,I dey your back. . .Whit all the borrowing you people are still the least develop. Go and educate your people first fool! You keep disturbing the peace of the country with your Islamic shiit! Don't preach religion to where I am! I hate religion!Fucking country! |
Re: House Of Reps Okays Islamic (non-interest) Banking by igboboy1(m): 6:48am On Jul 23, 2011 |
islam is for dumbwits, nothing good ever comes out of the muslim world the worlds top 15 economies are countries where muslims are not allowed to run the affairs of the country, from china to india to japan to germany to russia to america to brazil and co, no islamic power, islam is a morraforking backward ideology, primitive peeps, |
Re: House Of Reps Okays Islamic (non-interest) Banking by BetaThings: 7:30am On Jul 23, 2011 |
^^^ How come Qatar and UAE go on top of your list when you use per capita GDP? So why do we see many of your people on the streets of Dubai? Why are they going after bad? What again did Emeagwali say is the meaning of Algorithm Who introduced zero to the world? Do you remember? And why are non-christian states threatening to take over from christian states which made a head start through crude exploitation of other people Why did christians hold a meeting to share Africa and its resources among themselves Looks like the goal of becoming largest economy outweighs the need to allow other to live in peace Bakassi problem is traceable to christianity? Who is a dumbwit? |
Re: House Of Reps Okays Islamic (non-interest) Banking by BetaThings: 7:40am On Jul 23, 2011 |
davidylan:But the state of Israel came into being in 1947 and there were mosques in that country before the state was created. Should we remove them to please Christians? I notice that your problem with Islam also extends to the way you write Allah and what you think will please Him. Note that muslims are required not to abuse religious figures of other faiths. knowledgeable muslims obey that injunction |
Re: House Of Reps Okays Islamic (non-interest) Banking by rhymz(m): 8:56am On Jul 23, 2011 |
This is what we get for letting mediocres into the national assemblies. Going through the sessions at the NA only shows you how lacking in depth the majority of the so-called senators and mps are-bunch of half educated dimwits with no grasp of any political ideology let alone issues as professional and intellectually challenging as analysing economic policies, banking and finances. The slowpokes that head committees at both arms of the NA have no iota of any serious professional expertise on the subjects of their committees. Their knowledge of any of these professions whose committees they chair is at best at layman's level. They lack depth in their understanding of the subjects debated. And this is quite unfortunate, that is why "an average banker like Sanusi will be made a CBN governor on the basis of sentiments, exaggerated articulation of basic understanding of banking and finance. Besides, the NA is peopled mostly by bigots who are moved more by premordial sentiments and parochial foresights, men and women with questionable backgrounds and below average intelligence. Islamic banking in a country as corrosively heterogenuos as Nigeria? Have they thought of the implications of allowing it to function the way Sanusi is going about it-creating separate laws, rules and regulation different from the ones that regulates the conventional ones. I hope these reeeetarded MPs understands the constitutional stand on this before giving it a pass mark.fortunate, that is why "an average banker like Sanusi will be made a CBN governor on the basis of sentiments, exaggerated articulation of basic understanding of banking and finance. Besides, the NA is peopled mostly by bigots who are moved more by premordial sentiments and parochial foresights, men and women with questionable backgrounds and below average intelligence. Islamic banking in a country as corrosively heterogenuos as Nigeria? Have they thought of the implications of allowing it to function the way Sanusi is going about it-creating separate laws, rules and regulation different from the ones that regulates the conventional ones. I hope these reeeetarded MPs understands the constitutional stand on this before giving it a pass mark. |
Re: House Of Reps Okays Islamic (non-interest) Banking by BetaThings: 9:32am On Jul 23, 2011 |
I need to know why are christians opposed to Islamic banking? Do the conventional banks conform fully to christian principles? If not, do christians want to do something about it? |
Re: House Of Reps Okays Islamic (non-interest) Banking by emmatok(m): 10:00am On Jul 23, 2011 |
BetaThings: I need to know Why are Muslims bringing their Religion into Banking? Is Islam the only religion in Nigeria? Is Dangote, Dantata e.t.c, not benefiting from the conventional banking system? |
Re: House Of Reps Okays Islamic (non-interest) Banking by Ess: 10:59am On Jul 23, 2011 |
Cry babies at it again, :-) Go eat your heart out! ISLAMIC BANKING all the way!!! ![]() |
Re: House Of Reps Okays Islamic (non-interest) Banking by aljharem(m): 11:08am On Jul 23, 2011 |
This davidlyan argues like a real mumu with not intelligent form of facts. All in his head is Muslim and Islamic banking are all bad. What a big mumu |
Re: House Of Reps Okays Islamic (non-interest) Banking by Enice(m): 11:23am On Jul 23, 2011 |
Most people against Islamic banking are just sentimental or ignorant. Sanusi has categorically said times without number that: 1. Islamic banking is a banking model and it will be run as a business without regard to religion. 2. It is a business model that has been practiced elsewhere. This model has been taking in it's entirety to be practiced in Nigeria. It's laws as practiced involves some aspect of sharia law hence the name Islamic banking. 3. Anybody regardless of religion can apply for a license. Therefore, a pastor can apply for a license to run an Islamic bank. 4. There will be no discrimination as to who get a loan. Don't be surprise when you go to the bank, you may deal with a lady in mini skirt. The advantage of Islamic banking is that it benefits developing economies like ours. Lets look at these scenarios: mr A has a business proposal, idea etc. he goes to the conventional bank to source for a loan. What the bank will do is to give him the loan plus interest (compounded) without any concern about his business because he would have to deposit a collateral. With the Islamic banking model, the bank studies the proposal and goes into partnership with mr A based on a contractual agreement on profit and loss sharing. Actual money is not given to him but a manager is assigned to him to oversee the financial aspect of the partnership. If the business is profitable, both share the reward If not both share the loss. Note that this Model will create jobs in the financial sector due to employment of more managers. Also, the more partnership the bank goes into the more profit is made, the more people get employed. The multiplier effect is that the economy grows. |
Re: House Of Reps Okays Islamic (non-interest) Banking by Akainzo(m): 11:23am On Jul 23, 2011 |
davidylan:Your stupidity is awesome! Since you've heard of disingenous all your life, it shows how others actually feel about your intelligence. FYI, since i do not know you, that was why i used ingenous to at least paint you in positive light but i guess a pig would always love filth. I need not go into discussion with you about the state of Israel, its history and creation because obviously for someone like you that believes in half history is likely to believe that Mungo Park discovered River Niger and thus made the river available for the natives. Clownish reasoning believing that there were no owners of the land before the Israeli state was created. this is confused. What are you saying? What are you responding to? The christian copts in egypt were there LONG before arab islam invaded Egypt. Should we remove their churches now to please allah?Is this not the same way the mosques were there before the creation of Israel? And what i was responding to, which you failed to grasp was your asking why muslims should ask for their own, thus i gave you examples of minority christians in Egypt also asking for their own. This shows that is in man's nature to ask for things that appeal to his beliefs. Do you comprehend? Yet Rome has one of the largest mosques in Europe . . . what was your point?It shows tolerance and that they listen to the large population of their citizenry that are muslims unlike you in Nigeria that views other expressions of another religion as an anathema. You cant have it both ways - Nigeria is "secular" and yet has sharia law in its constitution?Nigeria is circular and also has jurisprudence tilting towards christian religious order. We are circular yet our pledge mentions God. Secular only means not promoting one religion as a state practice which is why Saudi is a muslim country and Italy is a christian country as both promote their religion as an integral part of the state. Secular is not the same thing as atheist. convoluted nonsense. secularity and sharia law are two sides of the coin.Luckily, you'd know that both sides exists together is why it is called a coin ![]() |
Re: House Of Reps Okays Islamic (non-interest) Banking by Akainzo(m): 11:46am On Jul 23, 2011 |
emmatok: Just because there exist such type of banking and some people would love to have its benefits. Tell me is banking as currently practiced a christian affair that you should see islamic banking as against the conventional banks or is it just that you are against anything islamic? Is the Catholic Church the only church in Nigeria? If you can accept that though all are christians but still have strong differences to make them branch out to Anglican, Presbyterian, Deeper Life, Christ Embassy, Redeemed and others, why then do you want other religions not to have their own preferences. By being tolerant to your younger brother does not mean you are tolerant to others in the same shoes. Please lets start to have tolerance for other things that are not in our comfort zones. |
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