Quote:
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Originally Posted by BD-Shardul
Prophet's Quote of the day: On Piety and Self Restraint
From an-Nu'maan ibn Basheer (radiyAllâhu 'anhu) who said that I heard Allâh's Messenger (salAllâhu 'alaihi wa'sallam) say:
This hadeeth is the reason why I doubt the Islamic bank. Hence whatever profit we get, we distribute it among the poor without any intention of sowab.
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I myself have doubt on the concept of "Islamic Banking" I asked some scholars and about all of them said for now, it is the best system we got...
for example: to avoid Ribaa/interest: Islamic Banking system is that an "Islamic Bank" buys the house and you agree to pay the bank in a contract...I personally disagree with this because either way you end up paying more than what the house is originally worth.
Scholars explained to me that the difference is: you agree with the bank on a fixed contract...I personally see no difference..anybody care to help? (I know we have discussed this here before...but a refresher wouldn't hurt
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