What is Islamic banking? Has anyone heard of Takaful and Modaraba types of banking intruments?
I think what they are doing is providing insurance-like cover to children and their education in Takaful, and in Modaraba they are providing profits if you invest in real estate.
I do not know how good is investing in real estate, without providing house insurance which the West does. As you like it, but Takaful is aimed at middle to upper class who are investing with the bank and does not cover higher education costs of the children!
Gupshuppers what do you think? Don’t test my Urdu!
I think all the banks, Islamic as well as unIslamic, have geared up to give cars without choice to existing account holders with medium pay scale. The car plies on the road and eats up petrol and gas, the shortage of which is supplied by the Middle East or so. Once you have a car, you have a job in a bank, and you decide to get married and have kids the birthdays of which are known by your bank insurance providers. bacha kala nikla to chor hai, chotai qad ka nikla to chor hai, mota nikla to chor hai. in the end, everyone wants blue gaddi!
Chapter 2, its very good, very humane way of dealing with money.
I read half a book about it, most of the work done on it is in Malaysia.
Very refreshing way of thinking about the money and borrowing.
you know what I think. I think malaysian banking and investment is risk-free and mitigated. they take insurance cover when investing and go into 2nd derivatives whilst practising it. useless when you think of the NYSE, and going up and going down points and precise capitalisations.
And Southie, is OP Obama? is mpg miles per gram?
Islamic banking does not offer wild interest rates Gupshupper. just like al Baraka is making everyone stay keer of buraka, burkha, etc.
I kind of like Mumbai-style Finance with derivatives trading on the stock exchange. May be we can work on it in Pakistan and I can get the Cuore that I deserve with my hard-earned money on my own! :)