Islam – Shariah law and Islam are inseparable. International banking UNDER Shariah will soon be the LAW

 

Please, see for yourself what Shariah entails.  Below is an article that will undoubtedly change what TAXES mean.  Undoubted different, not unlike a Communistic structure with Tyrannical overtones.  Shariah is a law that governs everyday life, which means culture.  It controls politics, which it calls governance.  Shariah also control the monetary aspects of life.  Islam is a THEOCRACY in which Religion is a mere portion of it’s entirety.  This is a RULE and not only a Religion.  It doesn’t allow for other Religions.  It doesn’t ALLOW any other RULE or measure.  It is exclusive and unto itself.  Those of you who want inclusiveness, will not do well under ISLAM.  Discrimination under Islam is PRESCRIBED.

 

 

Expert calls for setting up Islamic finance watchdog

Posted on » Monday, December 20, 2010

MANAMA: Standardisation of the Islamic banking policies, procedures and regulatory framework on a global level is important to propel the growth of the industry.

That is the view of BBK investment banking arm Capinnova Investment Bank chief executive officer Jamal Hijres.

“An important effort towards achieving international consistency was the creation of two multilateral institutions, the Accounting and Auditing Organisation for Islamic Financial Institutions and the Islamic Financial Services Board.

“The growth of such institutions will definitely improve and propel the industry at a faster pace.

“The Islamic banking industry is a fast growing sector that offers an array of opportunities yet to be exploited,” he said.

“Although the Middle East still represents the biggest share of the total Islamic banking sector, Western countries are gearing towards this new trend that presents a unique opportunity to diversify.

“With a growing market share and a considerable growth rate recorded over the past decade, it is essential for a unified global Islamic banking authority to be established.

IFC_logo

Islamic Banking is one of the fastest growing sectors of the banking industry with funds up to US$200 billion, growth at more than 15% per annum and 150 financial institutions operating in more than 40 countries. The unique value-orientated ethos of Islamic banking is proving increasingly effective in drawing finance from Muslims and non-Muslims alike. The Islamic Banking Colloquium is an initiative of the National Centre of Excellence for Islamic Studies and Asialink, both at the University of Melbourne to: Showcase the growth of Islamic banking globally Highlight the potential of Islamic banking in Australia Promote the understanding of Islamic finance principles Provide an opportunity for networking The Colloquium aims to introduce finance industry professionals to developments in this important growth sector of the global banking market. The event will bring together bankers, regulators, financial and legal practitioners, academics and industry experts.

 

“This authority can be entrusted with standardising Islamic banking operations and facilitating communication between the different entities, leading to the full exploitation of the sector’s potential.

“One of the most important challenges faced by the Islamic banking sector is the unavailability of experts in both banking and Islamic issues.

“An Islamic banker must possess a profound knowledge of Sharia rules and principles, in addition to finance.

Cash Waqf Certificate Framework

 

 

In addition to the above-mentioned objectives of cash waqf practice, profit of the managed waqf fund can be allocated for:

 

 

 

“The shortage in experienced and qualified scholars is forcing them to field positions on multiple Sharia boards, which in turn increases the risk of a conflict of interest.”

“Even though the financial crisis did not affect the Islamic banking industry in particular, the drop in Gulf real estate and oil prices had repercussions on the industry,” he said.

“However, now with oil prices back in the normal range it has definitely brought confidence back to the industry.

Your wealth Your principles

“While Islamic finance is one of the big success stories in finance today, it is worth looking at the current credit crunch in conventional finance to see how easily one problem can spiral out of control.

“This is something that Islamic finance practitioners need to take on board and make sure they are prepared to expect the unexpected.

“Rigid corporate governance programmes, transparency on compliance, learning from conventional banking successes and failures and achieving greater market penetration are all goals that will help sustain this area of Islamic finance.”

http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=294232

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7 Responses to Islam – Shariah law and Islam are inseparable. International banking UNDER Shariah will soon be the LAW

  1. […] more from the original source:  Islam – Shariah law and Islam are inseparable. International … Tags: Islam, middle-east, obama, politics, shariah, trade-center, university, […]

  2. […] Islam – Shariah law as well as Islam have been inseparable. International … […]

  3. dzul says:

    MUUHAMMAD THE MESSENGER OF ALLAH
    known as honest successful trader in his youth, he was travelled so far from the east down to the west with silver clouds in the skies which always followed him above his head to protect him from the heat of the sun;
    ALLAH has helped him with golds & strong human troops & horses that running so fast. & angels that always obey ALLAH LAWS to protect him to win him in war
    To liberated people from slavery (laborers).
    MUHAMMAD THE MESSENGER OF ALLAH liberated slaves (laborers) from tortured of their blood sucker bosses who used high interest rest debts system for people who needs money;
    these blood suckers with supported by kings could have the rights to kill, to rape, to torture all borrowers if they can’t repaid loan & high interest happened in his era.

    MUHAMMAD THE MESSENGER OF ALLAH liberated BILAL (AFRIKAN) slave & he choosed BILAL as First Man on EARTH to calling pray [adhan = adzan] for 5 times dayly prayers in KA’BAH for all ISLAM’s believers [MUSLIMS},

    MUHAMMAD THE MESSENGER OF ALLAH helped people to borrowed golds from him to build foundations in manufactures for commercials to satisfied consumers by SYARIAH contained of ALLAH LAWS described in AL’QURAN consisted 114 surahs & this SYARIAH system were existed up to nowdays in the heart of people all around the world,

    ALLAH blesses your banks & your people

  4. Islam – Shariah law and Islam are inseparable. International ……

    Here at World Spinner we are debating the same thing……

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