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Islamic Finance
 IslamiCity Forum - Islamic Discussion Forum : Religion - Islam : Islamic Finance
Message Icon Topic: Modern Islamic Banking Post Reply Post New Topic
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Male Islam

Joined: 09 February 2012
Location: Philippines
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Posts: 1
Quote Ohmarski Replybullet Topic: Modern Islamic Banking
    Posted: 09 February 2012 at 1:11am
Islamic Banking to succeed should be a combination of the operation of Islam's Baytul Mal and the Western Banking System, i.e., The Islamic Bank should be financed or funded by Zakat, Sadaqa, and depositors (those who keep their money in the Islamic Bank to be withdrawn sooner or later without interest); then the Islamic Bank should then help the people through lending/loans (without interest). This Islamic Bank should be operated or run by the Government so that all the money of the Islamic Bank is owned by the Government, and the Government is responsible to the Islamic Bank. The projects of the Government would be financed by the Islamic Central Bank. This way, the government is watched by the people closely, and corruption is removed from the government. This is the Islamic Government.

Edited by Ohmarski - 09 February 2012 at 1:12am
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