Palestine – Breaking News

Malaysia PM called on Islamic banking to work on clarifying and resolving conflicts in interpretation over what products are allowed under religious laws.

The global economic crisis presents an opportunity for Islamic banking to show it is a viable alternative to conventional finance, Malaysia’s premier said according to reports Wednesday.

Prime Minister Abdullah Ahmad Badawi said the meltdown showed the need for laws enshrined in Islamic banking, which prohibits speculation and high levels of debt, and which has so far been relatively unscathed by the credit crunch.

"These ethical and moral safeguards are missing in the conventional system," Abdullah said in a speech, adding that the crisis was caused by trade in loans which few truly understood.

"In reality these repackaged sub-prime loans were nothing more than artful works of deception that fed the speculative excesses and hubris in the financial markets," he said at the launch of an Islamic law research academy.

However, he called on Islamic banking — a booming 1.0 trillion dollar global industry — to work on clarifying and resolving conflicts in interpretation over what products are allowed under religious laws.

"The Islamic finance community should not be complacent or unduly proud. We must continue to critically evaluate ourselves," he said according to the state Bernama news agency.

"For instance, have we truly established an alternative system or are we still very much mimicking the established conventional system?"

Islamic law prohibits the payment and collection of interest, which is seen as a form of gambling, so highly complex instruments such as derivatives and other creative accounting practices are banned.

There have been calls for the conventional banking industry to take a leaf out of the book of Islamic finance, which also shuns investments in gaming, alcohol and pornography in favour of ethical investments.

Agencies

Read More »Malaysia pm global crisis a chance for islamic banking to shine

 

 NOT TO BE MISSED INVITATION TO LECTURE & DISCUSSION ON THEPALESTINIAN ISSUE

In the Name of Allah, the Beneficent, the Merciful

Invitation/ Community Announcement

"The Palestinian Issue"

 

To be addressed by

Rabbi Yisroel Dovid Weiss  & Rabbi Dovid S. Feldman

of

Neturei Karta International

Jews United Against Zionism

A group of Rabbis from the USA  representing

The orthodox Jewish anti Zionist position 

Questions & Answers

Not to be missed!!!

 

 

Date: Tuesday  23 December  2008

Venue: Suleiman Nana Memorial Centre

Address: 65 Foyle, Avenue, Crosby, Johannesburg 

Time: 19h00 (7PM for 7.30PM – after Maghrib / sharp)

 

All Welcome

 

 

 

 

 

Read More »Not to be missed invitation

Who said nearly 50 years ago that Israel was an Apartheid State?

Address by Ronnie Kasrils: “ISRAEL APARTHEID WEEK”

Mandela: ‘We South Africans cannot feel free until the Palestinians are free.’

At the onset of international “Israel Apartheid Week” in solidarity with the embattled Palestinian people, I want to start by quoting a South African who emphatically stated as far back as 1963 that “Israel is an apartheid state.” Those were not the words of Nelson Mandela, Archbishop Tutu or Joe Slovo, but were uttered by none other than the architect of apartheid itself, racist Prime Minister, Dr. Hendrik Verwoerd.

He was irked by the criticism of apartheid policy and Harold Macmillan’s “Winds of Change” speech , in contrast to the West’s unconditional support for Zionist Israel.

 

Read More »Who said nearly 50 years ago that Isarael was an apartheid state?

Kashmiri Mass Graves Demand Attention as well Mr. Obama!

By Momin Iftikhar

President Obama’s interview to CNN, disclosing that he has directed his national security team to look into the Dasht-e-Leili massacre of possibly thousands of Taleban prisoners by Afghan militias supported by the US, has come as a welcome acknowledgement of a tragedy that has been ignored by the US corporate media � and the US Government – for eight long years.

The heart wrenching episode involving the death of thousands of Taleban prisoners, rounded up in the final sweep of US Special Forces in Afghanistan, in Nov 2001 is no secret in Afghanistan. These captured Taleban fighters got suffocated during the two days transit to Sheberghan Prison in sealed cargo containers, without any food or water. The dead bodies were buried in mass graves, using bulldozes in a stretch of desert close to Sheberghan. Mass graves of Dasht-e-Leili were first reported by Physicians for Human Rights (PHR) in January 2002 but the mainstream US Media refused to latch on to the story in the prevailing mood dominant in the US in the aftermath of 2002.

A recently declassified 2002 State Department Intelligence Report, obviously made possible by the shifting US strategy in Afghanistan, bares it all – including the US tacit approval of the inhumane conduct of its Northern Alliance protegees who were delegated all the dirty work in cleaning up Afghanistan. Abdul Rashid Dostum, a long time Indian and CIA sponsored warlord has been held responsible for the massacre and the timings suggest that, through acknowledging his crimes, US is trying to soften the impact of his close association with the Karzai Government in the forthcoming elections. The acknowledgement of the crime against Taleban prisoners by Northern alliance warlords may help to focus attention on the fate of many Pakistani and Afghan Taleban who were flown to India for investigations and are reportedly lying in one of the many mass graves that dot the IHK landscape ; particularly in Baramula district.

Read More »Kashmiri mass graves demand attention as well mr Obama