09-30-2003, 07:42 AM
<BLOCKQUOTE id=quote><font size=1 face="Verdana" id=quote>quote<hr height=1 noshade id=quote>Raza u have raised a question which is quite common and I would like to explain that the difference is not interest or Riba, its inflation which changes the prices of the commodities over the period of time. Now if we are in an economy in which all transactions are asset backed then we have no inflation and will not face this problem of losing the value of our assets over the period of time.<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana" size=2 id=quote>
Thanx dear,
Yar I have already told you that I have seen a financing arranged by a company through consortium of banks, in this consortium, both (self claimed islamic and Non Islamic Banks) are present. As the repayment, interest, securities terms are same for all the banks, but "Non Islamic Bank" shows the same amount under the head interest, which the "Islamic Bank" is showing it as profit, so what is the difference, is it interest for Non Islamic bank or its the effect of inflation for Islamic Bank ????????????????
My question is, If all the banks (islamic and non islamic) doing the same financing then why do they call themselves "ISLAMIC BANKERS"??????????
S M R
Thanx dear,
Yar I have already told you that I have seen a financing arranged by a company through consortium of banks, in this consortium, both (self claimed islamic and Non Islamic Banks) are present. As the repayment, interest, securities terms are same for all the banks, but "Non Islamic Bank" shows the same amount under the head interest, which the "Islamic Bank" is showing it as profit, so what is the difference, is it interest for Non Islamic bank or its the effect of inflation for Islamic Bank ????????????????
My question is, If all the banks (islamic and non islamic) doing the same financing then why do they call themselves "ISLAMIC BANKERS"??????????
S M R
