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seeking financial help

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

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Basic rules for proper Islamic banking & finance

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.

This article looks into the general economic Muslim rules, their source and the thought behind them.

This article answers these questions:

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Islamic Banking Operations and Trade Finance

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%.

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Brief overview of Islamic Banking

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.

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Resources - General Islamic Reference Material

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

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