islam is ………

November 1, 2008

Islamic Economics

Filed under: Islam,Opinion,Religion — WhyIslam @ 12:55 pm
Tags: , , , , , ,

Amongst this economic crises, a lot of experts are indiretcly highlighting the economic system in Islam. I really would like to discuss this topic more throroughly, unfortunately, I am not an economist and I know very little about it. As I am interested in the topic of ‘Islamic Discussions’, I will focus on a different aspect. In a previous post, I have mentioned that the economic system of Islam is one of the proofs that it is the religion of truth. How can a man 1400 hundred years ago set up the fundamentals for such an economy!

If there is a benefit to this economic crises, it is that it forced people to focus on alternatives and what has succeeded and what has not.

The Sydney Morning Herlad writes:

A thriving financial sector sounds like an oxymoron these days. Even Australia’s banks – among the most profitable in the world – kept a fifth of this week’s interest rate cut to cushion their margins. But there is one sector that has tongues wagging in the hubs of commerce: Islamic finance.

Washington Post writes:

The mortgage industry may be in meltdown, but at least one class of lender appears to be flourishing: Islamic finance companies that offer Muslim home buyers alternative arrangements such as lease-to-own deals so they can avoid making the sort of interest payments that many believe their religion forbids.

Officials at Guidance Residential, a Reston company that has financed more than 5,000 home purchases since it began in 2002, said the company is having its best year yet, with business up 7 percent in the first quarter of 2008 from the first quarter of 2007.

The solution is here

2 Comments »

  1. […] look into Islamic Economics can be found here Possibly related posts: (automatically generated)Islamic Banking: Steady in Shaky […]

    Pingback by Islamic Banking: Steady in Shaky Times « Islam is ……… — November 3, 2008 @ 2:19 pm | Reply

  2. If you want to learn finance then here is a great place
    Learn Finance

    Comment by Mickle — November 13, 2008 @ 7:06 am | Reply


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: