islam is a load of nonsense so why should islamic finance be any different. check out FAITHFREEDOM.ORG for a true perspective on islam
judged by reason all religions are full of nonsense. That is why there is a concept called faith. What I don't get is this: It seems islamic finance is effectively the same as normal finance just with a different structure. I will have to read more on it.
Ask yourself the question: What mumbai or bali or beslan have anything to do with the brilliant product of your brain activity? jihad just moves from one part of the world to another.
If God was with the muslims, surely he would raise them up to take over Israel. But since the muslims do not control Israel, That must mean God has in power who he wants in power over there. Ever think of that?
I think Nattdog is on point for the most part. Based upon what I read at this division of HSBC which caters to Islamic finance (HSBC Amanah) I got the impression that interest was NOT charged and just a higher principle with no fluctuation in monthly payments. I guess variable rate mortgages are then out of the question within the practice of Islamic finance. It also appears that investors according to Islamic finance cannot really offer debt to a company and instead have to take an equity stake. Read more about it here: http://www.hsbcamanah.com/1/2/ALL_SITE_PAGES/amanah-global/about-hsbc-amanah/glossary-of-terms
If someone want to finance the business of manufacture and sell clothes for women with islamic finance, that business have to only sell what is allowed in islam. That business can not sell bikini for example. The islamic finance looks to the Koran for rules. If nothing can be found in the Koran for an answer, then a group of religious islamic men make the rule. So maybe islamic finance is good because the business they finance pay no interest, and the lender have shares in the company always so they want a successful business, but it has the power to spread islam rule through the world, through the business.
so bascially it's a finance based on moral religious and ethical rules, am i right in saying this? just how widespread or important is islamic finance