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[quote][b][purple]Sister,
Here is some information on banking in general and emergence of Islamic Bkg:
1. Surah Rom and Baqara explicitly forbid Riba.
2. saying of hadith of our Prophet prophecying a time when a believer will even breathe in Riba (like there will be no moving out). Whatever we do or whatever service we use has an element of interest attached.
4. Interest just helps in creation of money in a multiplier effect pushing inflation up without causing any rise in productivity.
5. Islamic believes in Riba free bkg/business enhancing eco productivity without a reliance on a pre-determined rate.
6. An interesting point is that the fall of Osmanian Caliphate of Turkey in 20th century is attributed to the compunding interest which the Caliphate was unable to pay...
7. Banks at-least in Pakistan are striving towards Islamib modes of finance including MCB, Al-Meezan, Faysal Bank....
8. It is  one of the reasons for  myself to move towards Training from hardcore banking
9. There r some Islamic modes of investment for deposits and liabilities and interested bro/sisters should search.
10. last but not the least is that the only way to avoid it is to make a sincere effort and seek Allah's guidance and the way will open....
Seek for infinite intelligence and it will come for ur help
Brotherly Usman....[/purple]

[green]with thnx [:)] to br Usman Yousuf. 
Member Economists/Accountants /Bankers Community @ Studying Islam[/green][/b]

Edited by: hkhan on Tuesday, June 08, 2004 4:54 AM[/quote]

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