I am planning to take car loan...but I need the loan as per Islamic procedure....So kindly help me which bank is good for islamic procedure loans...thanks
King, Islamic banking is not about the religious belief of its staff, its about the way the transaction is handled, if the transaction is processed in a shariah compliant way, then it is fine. do note that many non-muslims also bank with islamic banks nowadays. Have heard a lot of great reviews about CBQ Al Safa Islamic banking.
There is no "Islamic" Bank, a muslim should not take a loan unless absolutely required in life. Nowadays people take car loan to buy a brand new car, is it justified as per Islam if you talk about Shariah?
Spend only as much you can afford and from what you have, this is what Islam teaches us. There is no Islamic Bank, its all change of terms, they call it interest and these bank call it profit/loss, else everything is just the same and remember involving in Riba is waging a war againt Allah and his Prophet(pbuh)...are you prepared for this war in exchange of ur material desires?
Allah says in noble Qur'an:
Surah Al-baqarah verse no.278-279:
"Oh you who believe! Fear Allah and give up what remains of your demand for usury if you are indeed believers,
If you do not, take notice of war from Allah and his Messenger sallallahu alaihe wasallam but if you repent you shall have your capital sum. Deal not unjustly and you shall not be dealt with unjustly."
i have nothing against non muslims or them working in Islamic banks. I just dont think Islamic Banking is different from normal banking. People are just fooled into believing it.
Its just a new product aimed at a specific market.
totally! but like i said, it works for a number of people. The 'packaging' makes all the difference to them.
My dads been in banking for the past 35 years and he explained how similar both systems are. The funny thing is even a decade ago his bank sent employees for Islamic Banking courses to Ireland!!!!!!
Most banks have non muslim employees specialising in "Islamic Banking!'
Seems like non muslims know a lot more about Islamic Banking than us!!LOL!!
They are now "participating" in the collapse of the real estate industry and there are not even solid bankruptcy laws in this area :) so nothing gets resolved properly.
i agree with you but some people need the "islamic banking" label to satisfy their conscience.
Commercial Bank has 'Al Safa" and even Al Ahli bank has an islamic section. I have heard that Al Ahli bank gives a very good rate for your long term deposit.
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King, Islamic banking is not about the religious belief of its staff, its about the way the transaction is handled, if the transaction is processed in a shariah compliant way, then it is fine. do note that many non-muslims also bank with islamic banks nowadays. Have heard a lot of great reviews about CBQ Al Safa Islamic banking.
J.J
pleaseeeeee.
mmyke, my post is for Muslims who believe...you are not under any compulsion to even read it so why bother asking someone else to leave?
take the religious stuff and go away...
you have a head on your shoulders, use it for realistic thinking.
There is no "Islamic" Bank, a muslim should not take a loan unless absolutely required in life. Nowadays people take car loan to buy a brand new car, is it justified as per Islam if you talk about Shariah?
Spend only as much you can afford and from what you have, this is what Islam teaches us. There is no Islamic Bank, its all change of terms, they call it interest and these bank call it profit/loss, else everything is just the same and remember involving in Riba is waging a war againt Allah and his Prophet(pbuh)...are you prepared for this war in exchange of ur material desires?
Allah says in noble Qur'an:
Surah Al-baqarah verse no.278-279:
"Oh you who believe! Fear Allah and give up what remains of your demand for usury if you are indeed believers,
If you do not, take notice of war from Allah and his Messenger sallallahu alaihe wasallam but if you repent you shall have your capital sum. Deal not unjustly and you shall not be dealt with unjustly."
Allah(swt) knows best..
i have nothing against non muslims or them working in Islamic banks. I just dont think Islamic Banking is different from normal banking. People are just fooled into believing it.
Its just a new product aimed at a specific market.
totally! but like i said, it works for a number of people. The 'packaging' makes all the difference to them.
My dads been in banking for the past 35 years and he explained how similar both systems are. The funny thing is even a decade ago his bank sent employees for Islamic Banking courses to Ireland!!!!!!
Most banks have non muslim employees specialising in "Islamic Banking!'
Seems like non muslims know a lot more about Islamic Banking than us!!LOL!!
idea is just a gimmick....
They are now "participating" in the collapse of the real estate industry and there are not even solid bankruptcy laws in this area :) so nothing gets resolved properly.
a marketing tool....
and usually their accounting is totally mixed up...
i agree with you but some people need the "islamic banking" label to satisfy their conscience.
Commercial Bank has 'Al Safa" and even Al Ahli bank has an islamic section. I have heard that Al Ahli bank gives a very good rate for your long term deposit.
same as any other,,,,its only the packaging thats different.
Must be good.
Better try QIB
How about Barwa bank?...It is good for Islamic loans bcoz they are also offering islamic loans as per sharriaha.
i think qatar international bank is ok
and al qatar islamik bank .... tried both of them and they are good