[chottala.com] Islamic Home Loan vs. Commercial

My comments are inserted below.

Enayet Ullah <enayet_2000@yahoo.com> wrote:

No wonder your dentist can not find any "Venum" in
your teeth, maybe your dentist is also another Zionist
Mollah?

TURKMAN: I have no idea, what this phrase 'Zionist Mollaa' means. I have nothing to do any Zionists in USA.

----------------------------------- 

Perhaps you are not aware, in USA one has to pay
24.99% interest rate for the money they borrow from
the credit institutions; where prime lending rate is
about 6% & inflation is said to be about 3% (*).

TURKMAN: One doesn't 'have' to pay unless he is desperate or a Moron. Only nuts with Bad Credit History had taken such loans out to buy houses otherwise, normal people had taken loans on or around 6%. Real Inflation Rate average  in USA has been about 7% since 1929.

--------------------------------

For any financial institution (including Islamic
Banking), there is a operating cost & inflation of the
currency.

TURKMAN: True and this is why it can not remain Islamic because Islam doesn't say build a bank, collect Operating Cost and cost of Inflation. The reason was, there was no Inflation in those days. There was definitely Deflation and Purchasing Power of Money used to keep increasing, not Prices of everything. It was because Money Supply (which was made of Gold) was limited and increase in population was un-limited. Now Money Supply is un-limited because every country keeps printing Paper Money.

----------------------------------------

Those need to be taken into account for any
lending institution to make that institution
sustainable. Though Quran states no fixed interest,
but, both lender & borrower can mutually agree for
profit sharing and risk mitigation.

TURKMAN: Correction. God says, "No Interest at all". If Mutual Agreement is so important, why had not God said that in Qoraan instead of banning Interest completely? He didn't know about Mutual Agreements and Economist enough or what?

-----------------------------------

As a burden of proof, give me specific example which
Islamic Banking is ripping-off its stake holders? In
specific, your comment about Islamic Bank in
Bangladesh, are you aware about their lending rate ??

Now, can you stop lying for a bit??

TURKMAN: Islamic Banks attract Depositors by paying higher returns than Commercial Banks but they call it Profit instead of Interest. They have no Interest Rate. If you get a Home Loan, they increase your Rent every year telling you it has to charged according to going Market Rent so, your monthly payments keep increasing every year and in Fixed Rate Mortgage Loans from Commercial Banks monthly payments remain fixed for term of loan or 30 years. You monthly payments in Islamic Bank only decrease if you start paying off the Principle. If you sell the house you get all the profit but if you have an Islamic Loan you get only percentage of that profit since you don't own the whole house yet owing to amout of remaining balance of principle that you have not paid yet. Go learn Islamic Banking system first instead of keep arguing with me ...!  

--- S Turkman <turkman@sbcglobal.net> wrote:

> I have no Venum in my teeth sir and my Dentist would
> confirm this. All the Observers can notice is venom
> splattered around in Bangla and other Moslim Forums
> against me and people like my by your Mollaas.
>
> Please provide any proof from Qoraan or Hadith,
> what I wrote was wrong instead of switching the
> subject and spreading your venomous propaganda
> against me ...!
>
> Tell us all, where does Islam say receiving more
> money than lent from a borrower is not Interest ...!
> Where does Allah or his Prophet say in any books
> of Hadith, you can collect Interest in the name of
> Profit and Fees just to declare your charging of
> Interest Islamic?
>
> When are you going to stop ripping-off illiterate
> Moslims in the name of Islamic Banking?
> Do you know, there's God and He would ask you
> about your cheatings after you die?
>
> Enayet Ullah <enayet_2000@yahoo.com> wrote:
>
> This Trukman dude is a convulsive reactionary to
> comment on every subject which relate to Muslims;
> whether he is ignorant or knowledgeable about the
> subject - taking a pot shot is giving him greater
> pleasure, perhaps?
>
> My curious observation about his quiver attitude
> might
> relate to his early madrassa education; might be
> ill-fated; curious, if he was a victim of abuse by
> any
> his childhood mentors which is blowing out as
> anguish
> at his old age!
>
> Just an observation; absolutely no pun intended!
>
> Constructive criticism is way of perfection; and I
> do
> respect few of his criticisms; but, to criticize
> every
> single event or topic about Muslims, if just another
> nonsense!
>
> Mr Trukman, this site is dedicated to you, enjoy &
> indulge yourself with neo-con venom:
>
> jihadwatch.org
>
> Cheers,
>
>
> --- S Turkman <turkman@sbcglobal.net> wrote:
>
> > Islamic Banks should be investigated for fraud
> > because they charge more on loans than normal
> banks
> > and call it their Profit and Fees. They are not
> > Islamic because "receiving more money than lended
> to
> > a borrower" is 'Hraam' in Islam and they all do
> all
> > over the world ripping-off their Mollaa Clients.
> >
> > Arif Ahamed <ahamed.ahmed@gmail.com> wrote:
> > Dear readers,
> >
> >
> > Central Bank of Bangladesh, Bangladesh Bank has
> > warned the Islami Bank. The so called honest &
> Jamat
> > sympathiser - supporter Mr. Shah Abdul Hannan -
> who
> > often condemns media for criticising Jamat-Shibir
> -
> > had spent millions of Taka dishonestly for his
> > foreign trip by the money of the customers of
> Islami
> > Bank when he was Chairman of Islami Bank during
> > Jamat-BNP era.
> >
> > Similar incident happened (foreign trip by the
> > money of the customers) to another Islami bank in
> > 1999 & then Bangladesh Bank ordered to pay back
> that
> > money of the customer.
> >
> > For detail please read the news published on the
> > daily Prothom Alo on 17th January 2008
> >
> >
>
http://www.prothom-alo.com/mcat.news.details.php?nid=Nzg2MTI=&mid=MQ==
> >
> > Some more news about Islami Bank Bangladesh Ltd.
> > (IBBL):
> >
> > Ex Finance Minister & top BNP leader M Saifur
> > Rahman had informed in last parliament on 2006
> that
> > some suspected militants' accounts with the Islami
> > Bank Bangladesh Limited have been detected. Saifur
> > Rahman said this replying to a query of MP GM
> Quader
> > of Jatiya Party (Ershad).
> >
> > A Bangladesh Bank (BB) investigation in 2006 also
> > has found that Islami Bank staffs ignored norms &
> > also some lapses of banking norms in eight money
> > transfers that (law enforcing agency suspect) were
> > meant for funding JMB militant activities.
> >
> >
> > This is our Islami Bank!!!
> >
> >
> >
> > Arif
> >
> >
> >
> >
> >
>
>
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>
>
>

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