-------- "This is the time for action not only words, use your God given gifts to develop this country, dont be afraid to speak up, and feel PROUD THAT U R EGYPTIAN." -------- Mohaly, Feb 2011

Saturday, September 8, 2007

262) Islamic Banking....Is it a big Myth?!

I don't like people who manipulate others and use their need to benefit while selling them the same thing in a different name....I'd categorize cigarettes and Islamic divisions in banks in the same category of fooling people and selling them something else that they advertise or claim...

From sources inside the admin of Islamic banks, the money of the Islamic division and other divisions end up all to the same destination whether investment in projects or loans. It just have a different front end for marketing purpose and attracting more segments from the market to increase their market share and profitability.

And if it is really an Islamic division, why do we allow other non-Islamic transactions and legalize it!! My opinion....it is a big myth!

P.S. I am not against something being Islamic, but against fooling people.



L.G. said...

سألت كثيرا عن تلك البنوك واعتقادي أنها مثل غيرها ولكن الرأي بأنهم يزعمون أنهم يحركون الفائدة حسب الربح والخسارة ويتعاملون بمشروعات اسلامية لذا تكن أعذرت نفسك أمام الله وان كانوا كاذبين يقع الوزر عليهم فقط دونك والأفضل الاستثمار الحقيقي في مشاريع وليس بوضع الأموال بالبنوك .. والله المستعان

ahmed said...

totaly with u
fe nas keter betedhak 3ala el nas

sara said...

Sadly, no 100% islamic banking :(