How Islamic Bank Work (English)

[@Simplicity111]

this is underrated !!! this deserve more view!!! Thank You

[@NasirKhan-fx8hq]

Good presentation but still need more details of transaction and profit losses.

[@TheIzzlud]

Can you show example how to buy a house based from Islamic bank system?

[@hadeethdaily7300]

The simple principle of Islamic finance is money should not make money, there should be risk and profit factors involved in the transactions. Without work/risk/action there is no barakah in your money, and your life will be lazy/lethargic/boring. To keep humans healthy and active Riba is made haram in Islam and business (profit and loss) is made halal. In Riba, there is an exploitation of once situation to make money.

[@ismoilova_shahina]

Well explained. Thank you

[@juliusnadduli4668]

great stuff here - is there part 2?

[@rosniarmeutuah4947]

thanx fo sharing with us

[@abdikhadir1191]

May allah reward you😊

[@lilylily6625]

Jazak Allahu Khayran 🌸 Thank you so much!

[@ayesew-ayesew]

Nice

[@Jaber-Ul-Haq]

Very Well Explained 👍

[@Wisdomseeker1028]

When a person buys a house from a bank, and agrees to paying in installments which totals higher than if paid upfront, what happens if he decides later to pay it off early? Would that then be considered 2 prices for the same asset, which is prohibited?

[@zenalsham7977]

No he can't change or and if he did he has to pay the higher price

[@NEOGEO1966]

MashAllah

[@simpleman1546]

Let me quote an example: Say a trader bought peanuts for 50 bucks and he is selling it at 60 bucks. How is that different from him charging 16% interest over 50 bucks?? What the ruling on making money from assets? Say I bought a car on finance- how will a bank earn ?

[@mudza92]

Buying and selling for more is trade, business. Giving money for interest is what is prohibited because look at the western world rich become richer day by day and poor become more and more poor. Because of interest. Intereat grows, you are late you pay penalty and the more time you need to pay the more money bank earns. But if bank buys car that you want for certain amount and sells to you for a bigger amount. Thag amount is set in place it can't grow more that's it.

[@Sam-ux8we]

If an islamic bank buys a $100 000 house to sell it to me $120 000 so I don't use the interest (Riba) how and where did the bank get this money from...? A bank..?

[@jorgearsenio161]

8/9/2023 Cusco perú 😮

[@Zen_Ft5e]

How about a simple example. If I want to buy a house as my families home, how does that work? Does the bank "own" my home and I lease it? Or something else?

[@razamughal4582]

If its a mortgage the bank owns it

[@mhm5319]

This video didn’t answer the question. Tell us what differentiates the traditional bank from Islamic bank ? Thanks

[@TheCatoblepass]

what if the shariah board is "owned" by the bank?

[@CClockworkk]

The sharia board is never owned by the bank and is usually either provided by the state or is formed privately away from owners and stakeholders of the bank with government oversight. If the bank does own the sharia board or has any amount of influence over it then I would assume that the government would intervene.

[@irshadansari7538]

Need to explain more effectively

[@merisn]

Lovely

[@noahriding5780]

It seems like there are some advantages to Islamic Banking. But what are the disadvantages, if any? Are people who aren't followers of Islam allowed to use Islamic Banks?

[@tranium67]

Yeh anyone can use islamic banks

[@bushfires1760]

would be good idea to ask to many Pakistanis and Indians workers exploited in Qatar the lovely experience with Islamic financial system (no much differences with the other one)

[@asadzeethree2726]

You're just upset that your financially and emotionally broke!!! 🤣

[@bushfires1760]

@@asadzeethree2726 yes, no worries...I'll use your system to be saved...I assume you are living in an islamic country

[@yousefghanem7183]

@@bushfires1760while I don’t know much about what may or may not have happened in qatar, just because a country uses the islamic banking system does not mean that oppression is required. At the end of the video it said that the bank needs an independent board to verify that all of its actions abide by sharia law. Exploiting a worker because they are in a bad situation would most certainly be against sharia law and so in theory an Islamic bank( or any islamic institution that abides by sharia law) would not do that without facing consequences.

[@bushfires1760]

yes sure...

[@asadzeethree2726]

@@bushfires1760. Brokie! 😆

[@nigeris10000]

So how exactly do they profit

[@mudza92]

They buy and sell assets for profit. That's plenty of money. Islam just wants to make sure rich people don't get extremely rich on the backs of poor who become more and more poor. It balances things out

[@2009jadeorchid]

islamic banking would get rid of all corruption

[@infoteka1708]

You couldn’t explain how it works Halfway through only

[@closeupman9591]

nice...but would be better without music when explaining something Islamic! 🤣

[@User.2024.1]

I didn't even notice that until you mentioned it. There's nothing wrong with a background soothing sound. Don't be too picky. You may not like it, but I like it, ignore it. If it bothers you so much, maybe don't watch it.

[@closeupman9591]

So telling the truth is being picky?@@User.2024.1

[@emergencyambulance2017]

well said@@User.2024.1 some people are just too cringe about music

[@irorook370]

Distinction without a difference. Profit is interest.

[@oneshotaddictedlolshorts7864]

that's why its called Islamic banking , we belive profit and interest is not the same thing

[@mudza92]

How is the profit interest? Profit is profit, interest is the one thing that allows rich to become more and more rich day by day, while poor become more and more poor and more in debt. Without interest that's not possible

[@fraz006]

When 'Islamic Banks' put the price of these so called 'house lease' or 'car lease', normally jaws will drop. The idea of renaming and redefining this and that is smart but i do strongly believe that there is a very strong reason why Islam prohibits riba. If the profit fixed by Islamic bank is as high as conventional bank loan interest ? The consequence is more less the same, the poor will still be oppressed, so whats the point. Of course that s the goal of prohibiting riba, to avoid the rich oppressing the poor. Have you heard any Islamic bank make loss? Sounds like the risk isnt shared equally between Islamic bank and loan customers ..

[@deen_squad_jnr1]

Why are u so obsessed to condemn Islam?

[@fraz006]

@@deen_squad_jnr1 i am a Muslim. Why I wish to do that? I am influenced by Sheikh Imran Hossein's opinion on riba and current slamic Bank loan system .The system still has a lot of room for improvement.

[@aiyukihara]

Bro. The purpose is only to avoid riba, not lending house for free to you. That's not what Islamic finance is about.

[@razamughal4582]

Islamic banking is a scam. The rate you pay back is higher than if you were to pay interest

[@Dr.tariqazzam]

My brothers which islamic bank do you think is authentic and adheres to sharia guidelines, recommend for me please the non liar banks?

[@haseebahmedd]

So eventually it is same. With islamic finance bank purchase the asset. And the won’t charge interest and will call it rent. All the banks are haram, they just change the name of interest as a rent.

[@sharminahamed2083]

Interest has no risk to the lender but in rent,if the buyer leaves without paying for the property, this puts a risky financial burden on the bank,Risk/Action is what Islamic banking all about. In other places they don't bare a risk regardless of the borrowers financial situation while here if he doesn't pay the mortgage,the bank is in trouble

[@user-ce5bu3fi8d]

I think you'll know the difference if you understand islamic banking better

[@itzblackstray6256]

@@user-ce5bu3fi8dcould you please explain to me what is it about? Can I take a huge loan for a business and then pay them back without no interest and sharing profits?

[@sazidafnan5015]

Bullshit

[@donsalehasky2335]

Still doesn’t cover the answer to be replied.. I still don’t get how 5r Islamic bank works😢

[@mdrizwaan5513]

Howmany.countries.fallowing.this.way.or.profit.way.....commertial.way .developement.way.for.the.people.to.thr.country.ingood.godsway.benfit.to.all

[@stalin1555]

The title should be "How to collapse your country's economy in 3 months"

[@planthearium908]

Islamic countries using their islamic system banking is the most prosperous economy in the world.

[@stalin1555]

@@planthearium908 what? 🤣🤣 Even Saudi Arabia doesn't follow your bull$h¡t isl@mic banking. Name one pisslamic country which wholly and completely follows your 'isl@mic banking'. (Hint: there're none) 😂

[@TheUtubers]

​@@planthearium908 dude we've done islamic banking system in the 70s and 80s and let's just say.. It doesn't work. The only reason why our country didn't completely collapse was because of us and saudi oil money. So no my friend it literally doesn't work.

[@planthearium908]

@@TheUtubers it doesn't work because you are not an expert of the system.

[@TheUtubers]

@@planthearium908 sure thing buddy sure thing whatever you say... And not to dismiss your majestic assumption but I spent months on it and it doesn't work. That was the whole reason why the middle East started adopting a more British style of capitalist economics rather than their older ones cause it simply wasn't sufficient enough to raise the standard of living. I could go into further more detail but it be simpler if you went and researched it yourself. It'll be more educational and less confrontational... Plus always be open minded buddy, the world moves on with time and what can't move on gets left in the past that is a fact. And the islamic economic system is one of those things. But still you don't have to take my word for it. Go do some research of your own, I'm sure you'll find it educationa,l if you want to learn instead of assume that is.. Anyways have a good day 💙