Financial Crisis

With Islam against the financial crisis – the Sharia deals other than the Bible also with economic aspects of interpersonal dealing what is when daily headlines about the financial crisis, banking scandals, or misappropriation of funds dominate the business section of the newspaper? Can you trust to even his hard-earned money? Long embody Western banks the consumer no longer, that felt like feeling of security. The consumer finds fewer and fewer possibilities seriously to invest his money, not to mention long term guaranteed win! At such times, you want back like old down-to-Earth systems without much speculation. And that offers the Islamic banking! Since September 11, a global Islamophobia is unfortunately, but who now puts his fears and cosmopolitan responds, can come in to enjoy of the benefits of the Islamic banking. Since the trend of Islamic banking have reached Europe; You now have the possibility to invest his money islam compliant without equal in the Middle East having to travel! Allah has allowed the action, but the Koran forbids the taking of interest ( riba) for the lending of money and also the unscrupulous use of financial emergencies. There are exact policies regarding economic together which are set out in the Sharia, the religious law of Muslims.

Although Sharia compliant banking have a religious background, but also Christians or atheists are welcome to invest in this market and to benefit from it in the long run. Incidentally, studies have shown that Koran loyal investors, at great financial crisis more and more of them came. Sizes such as Allianz, Deutsche Bank, Barclays have already filed your phobias and involved for some time in the Sharia compliant finance. One thing is sure such giants of the financial market would only make such steps if it properly will benefit. The Islamic banking system is based on thing means loans, such as about the Murabahah.

This buys the Bank on behalf of the client to a desired commodity and sold It’s these customers with a premium next. The customer has to pay off the whole thing in installments. In a conventional Western banking, the customer would take out a loan, buy the place himself, and then pay off the loan with interest and the acquired asset would serve as collateral for the loan. Also for the financing of real estate, there is a Sharia compliant approach, the so-called housing finance system. Unfortunately, it fails here but on the German legislation. Basic problem is the double incurred tax here, because in Germany it is making any transfer of ownership. In the case of an Islamic financing policy ownership would change however twice and therefore should be paid twice. England, the European Centre of the Islamic finance market has already reformed its legislation and islam compliant control system and benefited already from its European leadership in the Islamic business. Experts believe that it is only a matter of time, and also in Germany the Islamic principle of financing for Real estate the Western, is assimilated by changes in taxation. Sit back and watch the Exchange here. Interesting Fund under the supervision of Sharia are the “Al Sukoor” funds or the Noriba global equity fund.