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yeah take out an "interest only" mortgage and dont pay nothing. Pay "rent" which has nothing to do with interest
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Posted: 2005-10-14 01:37:45
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On 2005-10-14 01:37:45, solidsingh wrote:
yeah take out an "interest only" mortgage and dont pay nothing. Pay "rent" which has nothing to do with interest
somthing about suger..........
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Posted: 2005-10-14 01:41:37
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respect to her
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Posted: 2005-10-14 01:42:41
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baba deep singh ji shahid fought against muslims, even after his head had been chopped off, he picked it up with his left hand whilst holding a sword in his right hand, he died shorty after the sikhs won. RIP
he promised to god that he would come out of the battle alive so god gave him the power to fight even though he was beheaded
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Posted: 2005-10-14 01:46:16
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The place to be;
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Posted: 2005-10-14 01:56:48
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tis heavenly
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Posted: 2005-10-14 01:57:37
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i think some people are drifting off topic a bit. let's try to keep it relevant and civilised people
EDIT: this comment was in reference to a sequence of posts which has now been deleted
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On 2005-10-13 18:36:13, amnesia wrote:
In an Islamic bank, they say, ok you want this car. The bank BUYS the car, then gives it to you and gives you a finance option which comes to 20,000.
It's a technicality but one that most Muslims have no choice with in this day and age.
but it's not even a technicaltiy really, just semantics. whichever way you try to justify it they are still charging interest. while most muslims wouldn't have a choice, the bank certainly does.
it would be justfiable if the additional payments were kept strictly in line with the CPI and inflation, since 15,000 is worth less today than say five years ago, or is it justified as paying for the services of the bank employees (which would naturally be less otherwise the bank would never make a profit).
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On 2005-10-13 15:58:53, PeterKay wrote:
The definition of Interest, the literal meaning of interest or Al-Riba as it is used in the arabic language means to excess or increase. In the Islamic terminology interest means effortless profit or that profit which comes free from compensation or that extra earning obtained that is free of exchange. Riba has been described as a loan with the condition that the borrower will return to the lender more than and better than the quantity borrowed.
does that include profit due to compensation for taking on risk, or profit derived from assets increasing in value?
looked at simplistically, banks charge interest for taking a risk on you as an investment and to compensate for lost earnings in an alternate venture. interest could also be considered a "rental fee" for using their money, which they want returned at the end of the loan period. while there is no physical effort it's their money at risk, not yours.
you aren't supposed to accept interest earned on your bank account. but didn't you go to effort in saving and giving your money to the bank in the first place, and in allowing them to use your money to invest. wouldn't the interest you earned be considered reward for risking your money on them (admittedly a smaller reward for a smaller risk)?
continuing the effortless reward line of thought to it's logical conlusion, isn't property value appreciation "reward without effort". does that mean you can't sell your house for any more than what it cost you to buy? would the same apply to jewellery, artwork, or anything else that increases in value over time? how does share-trading and investment banking fit in? what about being a landlord, since the reward for your effort is, strictly speaking, only the property and not income derived from the tenants?
i guess i'm trying to get a sense of how far Al-Riba extends into financial transactions.
_________________
Whomsoever you see in distress, recognize in him a fellow man
Gelfen's special place where nobody talks to him anymore 
[ This Message was edited by: gelfen on 2005-10-14 02:54 ]
[ This Message was edited by: gelfen on 2005-10-16 06:44 ]
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Posted: 2005-10-14 03:50:46
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Why youll make your woman fight???
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Posted: 2005-10-14 09:18:29
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i believe they chose to. and i think we're still allowing ourselves to get distracted......
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Posted: 2005-10-14 09:43:53
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On 2005-10-13 23:08:19, PeterKay wrote:
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On 2005-10-13 17:28:51, solidsingh wrote:
so what do muslims say to banks when they open accounts
This is what i do, at the end of the year for example Ramadhan i contact my bank and tell them to give me the years total of interest in my account and then take that amount and give it to the poor with my zakat (2.5% of my total wealth). In this country its not as easy but Islam helps you in situations like these and my example is one easy way of dealing with the issue.
i dont believe this.
how did 'allah' know what interest was hundreds of years ago? youre just twisting words.
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Posted: 2005-10-14 10:33:01
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