To earn money without the typical practice of charging interest, Islamic banks use equity participation systems, which are similar to profit sharing. Equity participation means if a bank lends money to a business, the business will pay back the loan without interest and instead give the bank a share in its profits.
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Will You Love a Financial System that Has Zero Percent Interests? Welcome to the Islamic Financial System. Only the Greedy Will Hate It.
- Thread starter Loofydralb
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To earn money without the typical practice of charging interest, Islamic banks use equity participation systems, which are similar to profit sharing. Equity participation means if a bank lends money to a business, the business will pay back the loan without interest and instead give the bank a share in its profits.
fine, continue to enjoy your delusions
But that profit returns is already locked in. So even if company loses money, still must pay said profit return. Just like interest rates.
What happen when the business go bankrupt or making loses?
Libya was able to do that during Gaddafi's era. Interest free loans to his people. People are so brainwashed into thinking that banks are the only source to get loans, therefore forced to pay exorbitant interest rates.
What do you know, it's just another scam by the KM/fake Jews.
What do you know, it's just another scam by the KM/fake Jews.
In business theres no guarantee there will profit. But all profit will be distributed equally. Anyway I am no expert in Islamic banking.
Your imam never explain to you?
When the business has high erprofit, the islamic bank will get more sharing?
No. The distribution of the profit has been agreed to beforehand.
It is not an easy subject when you have for decades being brainwashed with the capitalist system and your inbuilt biases like greed, selfishness, lack of empathy, cheat etc will hamper your understanding of how Islamic Financial System works.
But I am assured if it were implemented globally, the will never be a boom and bust cycles, no banks getting forever richer, no more Rothschild's and Rockefellers trying to rule the world, no engineered inflation, no poor being taken advantage of, no more third world countries.
And lastly, no more need for WMDs.
Your islamic banking system is very similar to communism. The profit sharing, my guess is higher than prevalent interest. In the end, loaning from islamic banking a business will ended up paying more?
What is WMD?
If this islamic banking system works... mudslimes countries will be rich...
In theory, the system is like you will be feed equally well whether your dad is a poor dad or a rich dad.
So many gong cheebyes singing the praise of western banking scam system.
Then no need to pay the loan as its profit sharing.
This islamic banking is just manipulating by calling interest as profit sharing.
But yr ah bang says it's the best thing ever.... better than greedy ang mor banks..which is true ang mor banks are greedy
Your simplistic characterisation of Islamic finance don't do justice to the fair, stable and balanced outcomes it provides.
There cannot be manipulation when there is no interest to manipulate. Everything is shared risks and trade is transparent. You cannot go into Islamic finance and get scammed if you go in with both eyes wide open.
If it does not charge interest or interest in any other name, then it should be good. But Japan is currently almost zero interest and it's not working. Good if you are buying Japanese homes. Or start a business.
If I sell stuff without markup, how do I pay my staff, my utilities, my rent etc?
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