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Interest Based Lecture Of Sir Ghamdi.
I am working in a Islamic bank since last 10 years and previously I was working in conventional bank. I personally feel their is huge difference in both banking. In the lecture where Sir ghamdi sab describe the banking sector is quite surprising for me. One one side He pointed Islamic bank as shari excuse (ellat) on other hand He trying to justify conventional bank. Here I m sharing some points.
1. Their is no asset based financing in conventional banks. They purchase car in name of borrower and charged him interest and returned in installment. How we called it ijara if something is already in my ownership?? On other hand Islamic purchase a car with bank ownership and rent out to customers. Is this not a pure shari way?? Or its just shari ellat??
2. Conventional banks finance business in two ways I. Running finance ii. Fixed finance. In running finance they charged per day interest until you pay full financed amount back to bank on other side Islamic bank always use sale purchase agreements where Islamic banks sale goods in different types of bai like bai murabaha, bai musawama , bai Salam, etc etc so is this a pure shari way or it’s just a shari ellat.??
Please clear 🙏
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1 Reply
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Interest Based Lecture Of Sir Ghamdi.
updated 3 years, 5 months ago
1 Member
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Dear sir, it is fact that banking industry not just a money lender but provide so many services thay are beneficiary for whole nation. But maslay sood is totally different. Conventional banks gives facilities on current accounts although current accounts are qarz based but they offer free facilities to attracting qarz. On other hand they gives fixed profit on saving accounts which also lead to sood.
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