|
Popular Searches |
address,
age,
allah,
allowed,
answer,
applicant,
application,
business,
case,
cases,
certificate,
child,
children,
civil,
community,
conditions,
considered,
contact,
council,
country,
custody,
divorce,
divorced,
divorces,
family,
father,
female,
form,
husband,
iddat,
income,
islam,
islamic,
khul,
know,
law,
legal,
letter,
london,
long,
man,
marriage,
marry,
masjid,
meat,
money,
mosque,
mother,
muslim,
muslims,
parties,
pay,
payable,
period,
person,
property,
prophet,
question,
reported,
required,
right,
ruling,
scholars,
second,
seeking,
shares,
sharia,
talaq,
wife,
woman,
women,
zakat,
|
|
 |
|
Finance minister opens door to Sharia banking |
|
|
|
Dutch Finance Minister Wouter Bos wants to investigate options for
developing Islamic banking in the Netherlands, the minister said on
July 16 in a letter to the Dutch parliament, dpa reported.
In the letter, which came in response to queries from the liberal-
rightist Freedom Party (PVV), Bos said that this particular form of
banking meets an existing demand of a portion of Dutch Muslim consumers.
Islamic
law prohibits the collection and payment of interest, as well as also
investment in businesses that are considered unlawful or that engage in
activities inconsistent with Islam. Instead of asking interest, Islamic
banks share profits and losses to finance their activities.
At
present, only London and Dubai are involved in Islamic banking. In his
letter to the parliament, Bos said Islamic banking provides interesting
business opportunities for the Dutch financial industry.
The PVV had
expressed its concern about Islamic banking, which it says lacks
transparency and results in higher credit risks. The PVV also fears
that the built-in “zakat” or philanthropy mechanism in the banking
structures increases the likelihood of covert support to Muslim
terrorism.
In his response, Bos wrote that prohibiting Islamic
banking would backfire on Dutch society precisely when it comes to the
war on terrorism. A prohibition might create alternative money channels
that would remain invisible to the Dutch authorities, Bos said.
The
finance minister stressed that Islamic banks, or Western banks offering
Islamic banking services, operate under Dutch law for the financial
industry. He also noted that the Netherlands promulgated laws aimed at
preventing the financing of terrorist activities, but there was no
elaboration on how that would jibe with overseeing the activities of
Muslim banks.
(Source: http://www.neurope.eu/view_news.php?id=76197)
|
|
|
|
The Quran |
Chapter: Al-Anbiya (21)
Ayat(verse): 78 |
| 78 . And David and Solomon , when they gave judgment concerning the field , when people ' s sheep had strayed and browsed therein by night ; and We were witnesses to their judgment . |
|
|
Who's Online |
|
We have 1 guest online |
|
News 
