Re: Mufti Taqi Usmani: Key Islamic Principles for Reforming the Global Financial Syst
Burqa... please no aain baaiinnn shaaiinnnnnn.... can i have simple non-jalebi asnwers for posts #117 or #123 or #133?
Mufti Muhammad Taqi Usmani was born in 1943 in Deoband, India. He is the son of the late Maulana Mufti Muhammad Shafi, the former Grand Mufti of Pakistan. He obtained his Takhassus degree (an advanced degree equivalent to Ph.D.) in Islamic education from Darul Uloom Karachi, the largest and most renowned Islamic educational institution in Pakistan. He also obtained a Master’s degree in Arabic literature from Punjab University, and a law degree (LLB) from Karachi University.
He is regarded as an expert in the fields of Hadith (sacred traditions of the Holy Prophet, may Allah's peace and blessings be upon him), Fiqh (Islamic jurisprudence), Economics, and Tasawwuf (Islamic spirituality). He has been teaching these and other branches of Islamic education since 1959.
He served as Judge of the Shariat Appellate Bench of the Supreme Court of Pakistan from 1982 to May 2002. He is also a permanent member of the International Islamic Fiqh Academy, an organ of OIC based in Jeddah, Saudi Arabia. He has served as the Vice Chairman of the Academy for nine years. He is also the Vice President of Darul Uloom Karachi.
He is generally known as one of the leading Shariah scholars active in the field of Islamic finance. For more than a decade he has served as chairman or member of Shariah supervisory boards of a dozen Islamic banks and financial institutions in various parts of the world.** He presently serves as Chairman of the International Shariah Council for the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in Bahrain.**
He has held many positions in the higher echelons of the education sector of Pakistan and has participated in numerous commissions set up by the government of Pakistan in the field of education and economics. Since 1967, he's been the Chief Editor of the monthly Urdu-language magazine "Albalagh", and since 1990, he's been Chief Editor of the monthly English-language magazine "Albalagh International." He has also contributed articles to leading Pakistani newspapers on a range of issues. He has authored more than 60 books in Arabic, English, and Urdu.
Positions Holding: Vice President and Shaikul-Hadith, Jamia Darul Uloom Karachi Chairman, International Shariah Standard Council set up by the Accounting and Auditing Organization for Islamic Financial Institutions, Bahrain. Permanent Member, International Islamic Fiqh Academy, Jeddah, sponsored by OIC. Member, Islamic Fiqh Academy of Rabita-al-‘Alam-e-Islami, Makkah Chairman, Centre for Islamic Economics, Pakistan since 1991 Positions Held in the Past:
Judge, Shariat Appellate Bench, Supreme Court of Pakistan from 1982 to May 2002 Judge, Federal Shariat Court of Pakistan from 1980 to 1982 Member, Syndicate University of Karachi 1985 to 1988 Member, Board of Governors, International Islamic University Islamabad, 1985 to 1989. Member, International Institute of Islamic Economics 1985 to 1988 Member, Council of Islamic Ideology 1977 to 1981 Member, Board of Trustees International Islamic University, Islamabad 2004 to 2007 Member, Commission for Islamisation of Economy of Pakistan.
- burqa, think b4 you speak. learn b4 you speak. go dig some history books. and read on current events b4 passing judgment and disrespecting a scholar. by disrespecting him you're disrespecting what ISLAM says about ECONOMY; Allah and his Rasul (saw)!
have just a little shame ok?
You must need some knowledge base and its of no use gibbering on the topic regarding which you don't have skills and knowledge so please don't waste our time to tolerate you there are many threads available for your interest let me choose some for you khail khilari, shor sharaba, jokes etc.
Hope u r a bit educated person n got wht i meant
You must need some knowledge base and its of no use gibbering on the topic regarding which you don't have skills and knowledge so please don't waste our time to tolerate you there are many threads available for your interest let me choose some for you khail khilari, shor sharaba, jokes etc.
Hope u r a bit educated person n got wht i meant
.
Re: Mufti Taqi Usmani: Key Islamic Principles for Reforming the Global Financial Syst
why you people are wasting your time in convincing burqaposh ???????
why i dont know leave such type of people you can find them in every step of life every field everywhere. I agree you people did your job well to let him think over the facts regarding islamic concepts of economics but please you can't change him unless God wills.
look we have a good topic here on islamic banking so bring some fruitful knowledge regarding the topic
Re: Mufti Taqi Usmani: Key Islamic Principles for Reforming the Global Financial Syst
Just by changing the terminologies and using arabic words, things can not become Islamic. Even the hardliner ulemas have rejected the current system of Mezan and other banks terming it haram.
Re: Mufti Taqi Usmani: Key Islamic Principles for Reforming the Global Financial Syst
The so called Islamic banks are doing good business in Pakistan only because complacent and so called religious people are flocking over there - just to have Halal transaction/income. But ironically these people wont give up exhorbitant profit making and tax evasion!
Just by changing the terminologies and using arabic words, things can not become Islamic. Even the hardliner ulemas have rejected the current system of Mezan and other banks terming it haram.
there is a lot of grey area between absolute haram and absolute halal.
i wud not comment on the present islamic banking mechanism prevalent in pakistan, as i m not expert on this subject but i want to say humbly is the fact that present islamic banking meets many of the islamic finance condition and shud be consider a step in the rite direction.
i must reiterate that we need gud and islamic entreprenuer with abilty to raise Rs. 6 billion capital.
This clear fraud in the name of "Islamic banking" has been going on for a while now.
So instead of "LoLing", care to get serious and point out where in the world the true Islamic banking is being practiced?
No "aaanyeeen baaaayeeen and shaaayeeen", just facts please.
Thank you.
it is evident who is doing aaien bahain shain...............
islamic banking is still in its nascent stage............. and 2ndly nobody will let u enter in the financial system so easliy as it has high entry cost plus the nation/ ppl who rules the world economic system also rules the world. so the existing player will never give away with their dominance so easily.
further we need to bear this fact in mind that Banking Companies Ordinace 1962, specifically prohibits the banks to enter into trading business ( with certain exception) leaving the bank to deal in the money and paper ( t bills, tfcs, shares etc) only. **
on the other hand as a matter of principle islam prohibits the money to be used as a **"commodity" and requires it to be treated as merely a "medium of exchange". so in the current banking regulations it is not possible for the bank to enter in to the trade to earn some real profit emanating from the real economic activity.
thats y the current islamic banking products are void of real profit loss participation essence e.g. murabaha. that is generally being crticised for its non islamic attributes.
but the question arises who we need to balame for it . our parliment, bank's regulator, shariah adivosers, enterprenuer or the ppl of pakistan ( as a borrower and deposit holder.
having said that present islamic product still meet many of the criteria as laid down by the shariah and islamic fiqah.
so burqaposh ( inspite of ur limitation , as i can guess u r a student of arts or medical without the basic knowledge of the banking and finance) we should hope for the best to support islamic banking system so that it can improve in the future.
criticising without realising the glaring ground realities is ridiculous, shameless and useless. do sth in the positive direction. go get some degree (if u want to ) and participate in a helpful way to set the thing right. may allah be ur guide.
may allah show all of us right path.
..... further **we need to bear this fact in mind that Banking Companies Ordinace 1962, specifically prohibits the banks ...
excuses excuses excuses. ayeeeen baaaayeeen shaaaayeen.
Pakistan may have the 1962 law. But other places in the world are free to chose. Even the richest gulf countries and Iranian Ayatullah group all have failed to show that Islamist banks can work.
Why?
Because its all "Holy smoke", and "snake oil". Just take the traditional banking products, change their name to some Arabic mumbo jumbo and sell it as Islamist product.
All because of hut-dharmi.
The current behavior of Islamist banks clearly shows that the modern banks offer all the options that a Muslim should be looking for. There is no need to put green cloth on something that doesn't need one.
Oh well.
May Allah stop Islamists from using our religion for their despicable worldly gains.
Ameen!