The call is to schariagerechtem Islamic banking in the Arab world by the collapse of the markets louder
Whether rock singer Rod Stewart, soccer star David Beckham and the Baywatch busty girls Pamela Anderson - who is something on be held and had the necessary millions, bought a luxurious home in Dubai. As in any other country in the Persian Gulf prospers in the DIY, architectural fantasies were hardly Limits. With the international financial crisis, it is therefore now to a halt. More than half of all construction projects (total value: 582 billion dollars) are frozen in the United Arab Emirates. The neighboring countries, the crisis hit hard. The Kuwait Stock Exchange fell by 57 percent compared to June 2008. In total, investors lost from the Gulf region around 2.5 trillion dollars, estimates the Union of the Arab Chamber of Commerce.
For Nasser Saidi from the International Finance Centre in Dubai, this is the perfect opportunity to apply Islamic financial models. "They provide a better grip, greater transparency and instead of seeking quick profits to be long-term financing." The Chief Economist aus Dubai spricht vom "Islamic Banking", das auf der Scharia basiert. Ein System, das damit arbeitende Banken vor großen Verlusten bewahrte: Kreditgeschäfte, Hypotheken, Optionen, Futures, Derivate - alles, was die Krise in den USA auslöste, ist im Islamic Banking verboten. "Wir sind nicht von Bonds und Aktien abhängig", erklärt Adnan Ahmed Jussef, Vorsitzender der Union Arabischer Banken. "Wir sind auch nicht, wie die meisten Banken, daran beteiligt, Schulden zu kaufen und zu verkaufen."
Schon Prophet Mohammed war Kaufmann, und Handeln ist für gläubige Muslime ein gottgefälliger Beruf. Nur Zinsen dürfen nicht erhoben werden. Zudem keine Beteiligung am Glücksspiel, Pork, alcohol, tobacco, and prostitution. Ideally, Islamic banking is based on the fair exchange, as it says in a saying of the Prophet: "Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, salt for salt, like for like, hand to hand , in equal parts, each increase is 'Riba' (interest, usury). "
monitored a Sharia expert Advisory Board and reviewed at the bank, what is forbidden (haram) is allowed and what (halal) is. This he interprets the Koran. to examine the almost 1400 year old texts to modern situations is for the Islamic scholars do not always easy, the interpretations can have huge implications. 2008 broke the market for Islamic bonds to one half. Above all, "because of the remarks of the learned Sheik Taki Usmani, not that 85 percent of all bonds are Sharia compliant," said Zaid al-Mogaddedi by the Institute for Islamic Banking in Frankfurt am Main.
Nevertheless, with Islamic banking had it not been for the mortgage crisis in the U.S.. Instead of giving money to the Islamic banks had bought the house the whole or 80 percent. The customer then pays monthly installments until the complete eradication. Income payments are not regarded as interest but as a compensation for the value increases. "Another crucial factor in the crisis was the banking trade Nonexistent assets, "says Steven Amos of the Islamic Bank of Britain. Conventional banks often did not know what they bought it, whether it is for a real estate or deposits. We must however first have to deposit before we can do business. "Furthermore, could and should fulfill the bank lend money to other institutions. Loans in the billions, which were not covered, investment banks like Lehman Brothers were brought down.
In Great Britain There are now five Islamic banks and a further 20 known major banks, the Islamic departments have opened, which is understandable, with an annual growth rate of 15 percent. In Germany Islamic banking is still playing a minor role, although there were some 3.5 million Muslims with a huge potential, says Mogaddedi. "But the German legal and financial system is not for the development of Islamic finance oriented. Politicians are very careful."
The Islamic banking system is compared to the Western banking history is relatively young. 1963 and 1971, there were banks in Egypt, who worked without interest, but not explicitly described as Islamic. In 1974, the Islamic Development Bank - founded - now 55 member countries. Since 1999, two Islamic market indices, comparable to the German Dax. In these indices are included only companies that comply with Sharia law . Work Anyone who fails to do so - interest charges, or investing in pork - will not be included or excluded where appropriate.
published in the world at 5:04:09
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