General

Assalamualaikum everyone

my name is abd rahim and I am from Malaysia,

I am currently having some problem with my financial to support my family, would like to seek help from fellow muslim, pls give idea/advice how anyone can help me to resolve my financial problem.

Assalmualekum,

i am from New Delhi seeking financial Help i have taken loan from my friends 3yeas back for my marriage but still not able to pay back is there any one who can help some thing around $2000 to 3000USD. insha allah allah will help you for your helping hand

Jazakallah

E-commerce payments require knowledge of complex banking and financing information about the countries involved in an e-transaction. Even though most countries have a fairly similar banking and financing system, few Westerners know the basic rules that all good Muslims want to apply when they do business such as banking or other finance-related activities.

Banks traditionally offered current and saving accounts because of the benefits such products availed for depositors; a check book, typically associated with a current account for instance, is a must for all types of businesses. Further, current and savings accounts are classified as “low cost deposits”, i.e. they either bear no interest rates or comparatively low interest rates. This means that banks gain higher profit margins upon lending said funds. In consumer finance the interest rates could be as high as 11%. It is for this reason that banks strategically pursue sources of low cost deposits.

Islamic banking follows Islamic laws and principles, primarily the tenet that interest must not be paid or collected and that profits and losses are shared. There are two other rules that come to play in Islamic banking. First, banks cannot be involved with businesses that take part in industries that are considered sinful, like gambling and alcohol. Neither can entrepreneurs take part in ventures that deal with sinful activities. Second, excessive risk cannot be taken in ventures.

An very brief and informative paper on Sukuk (Islamic Bonds).

Recent innovations in Islamic finance have changed the dynamics of the Islamic finance industry. Specially in the area of bonds and securities the use of Sukuk or Islamic securities have become increasingly popular in the last few years, both as a means of raising government finance through sovereign issues, and as a way of companies obtaining funding through the offer of corporate sukuk. Beginning modestly in 2000 with total three sukuk worth $336 millions the total number sukuk by the end of 2006 has reached to 77 with over US$ 27 billion funds under management. By the end of 2007 the total figure is expected to exceed US$35 billion.

Asep Setiawan, an Indonesian journalist living in London, has an an article on whether Islamic fundamentalism and Multinational corporations.

From the introduction:

This essay assesses whether Islamic fundamentalism is a threat to multinational business.

1st Ethical is a UK based ethical tax planning and finance.

They have some papers on Shariah related financial matters, such as:

Paul Grignon is not a Muslims. However, he realizes the problem of debt, interest and how the modern monetary system works.

He has a video and web site explaining his views.

The following list contains sites that provide reference materialon Islam.

• Islam-Online.Net
  General information site on Islam, in several languages.
• IslamWeb
  Sponsored by the Government of Qatar. Offers a lot of information on Islam, including the Quran and Hadith, as well as an extensive library (although hard to navigate a book there). The Hadith is in Arabic and English (sub set only). The Arabic Hadith includes the "Six books" and other Sunnah compendiums, and is in searchable format.
• Al-Islam.com