Islamic banking necessitated by effect of global meltdown – ADO-EKITI— THE Governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has said the introduction of Islamic banking into our financial system was “necessitated by the effect of global meltdown that castrated the Nigerian financial system and slowed down the growth of the economy.”

He, however, assured that Nigeria’s subscription to Islamic banking would revive the current downturn of the country’s economy.

Sanusi pledged to dialogue with the leadership of the Christian Association of Nigeria, CAN, this week on the issue. [Gbenga Ariyibi has more...]

...this I find very interesting, because as society is growing and changing and you could almost compare recent developments on the world scene to the volcanoes and earthquakes that have been re-shaping the planet...

Gold Has Longest Run of Gains Since 1980...

...we need a new system to match up with some of the financial things happening, like the use of mobile phones for banking across Africa and Asia ... the 'micro-loan' concept ... online banking ...

Michelle Malkin

‘Lights Out’: Harry Reid Takes the Debt Ceiling Fear Up a Notch -

So, look at all of the news hitting the "financial fan" - try to make sense of it - and let's keep an eye on this development in Nigeria.

Islamic banking has the same purpose as conventional banking: to make money for the banking institute by lending out capital. Because Islam forbids simply lending out money at interest (see riba), Islamic rules on transactions (known as Fiqh al-Muamalat) have been created to avoid this problem. The basic technique to avoid the prohibiton is the sharing of profit and loss, via terms such as profit sharing (Mudharabah), safekeeping (Wadiah), joint venture (Musharakah), cost plus (Murabahah), and leasing (Ijar).

In an Islamic mortgage transaction, instead of loaning the buyer money to purchase the item, a bank might buy the item itself from the seller, and re-sell it to the buyer at a profit, while allowing the buyer to pay the bank in installments. However, the bank's profit cannot be made explicit and therefore there are no additional penalties for late payment. In order to protect itself against default, the bank asks for strict collateral. The goods or land is registered to the name of the buyer from the start of the transaction. This arrangement is called Murabahah. Another approach is EIjara wa EIqtina, which is similar to real estate leasing. Islamic banks handle loans for vehicles in a similar way (selling the vehicle at a higher-than-market price to the debtor and then retaining ownership of the vehicle until the loan is paid). [source: wikipedia]

Gas prices on the rise; top $4 in eight states...


Tags: World Economy, Islamic banking



Permission to reprint this blog post in whole or in part is hereby granted, provided that the author (or authors) and Dave Lucas are properly cited. Permission to reprint any comments below is granted only for those comments written by Dave Lucas and staff.

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Century I, Quatrain 64
At night they will think they have seen the sun,
when they see the half pig man:
Noise, screams, battles seen fought in the skies.
The brute beasts will be heard to speak
~ Nostradamus.

In 2011 we could interpret the "half pig man" to be the product of genetic technology (or a guy who has had pig blood vessels installed to replace his own damaged ones). The point here, is that as we catch up to the future, we are better able to look back and understand the past. In 1960, the genetic possibility would likely not have been explored, nor even thought of.

Watching the PBS-Television series "Freedom Riders" the other night with a 14-year old in the room. A young teen who stared at the screen, incredulous - unable to understand the racial divide portrayed in the episode being played - I tried to explain.

There were things thought impossible then (only 50 years ago) - things like a black president, telephones we could carry in our pockets, same-sex marriage. Things are more things that are part of reality now.

The young person(s) watching "Freedom Riders: will likely see many things come to pass in their own lifetimes that they cannot even begin to conceive of today.

"Farms" where human replacement parts are grown. A meteor striking the earth causing mass devastation. An invasion by a technologically superior race of beings from a distant planet. Men marrying animals.

It almost hurts the mind to think about things like that, does it not?

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Azerbaijan: Jon Snow and Amnesty International in Twitter Action

Twitter has been awash with tweets about Manal Al-Sharif, whom some have described as another Rosa Parks (the famous activist of the African American civil rights movement).

Rita Chemaly congratulates Lebanese women on recent progress toward gender equality in Lebanese law. Several laws have been modified to grant women more rights in the areas of income tax, inheritance, and social security. To read her post, Mabrouk! [congratulations], click here.

The Arab revolution has impacted the cinematic world. Filmmakers from Morocco, Algeria and Tunisia have just launched on their blog Maghreb du cinéma [fr], a suggestion box to reinvigorate the creation, production and distribution of their work. Their manifesto can be signed here [fr].

Every online search engine has to face the inevitable question: Can it top Google? But Mahesh Kukreja reveals a few sites which will help you unearth data from the past.

Michelle Malkin

CAIR: Realistic homeland security drills are raaaaaacist - CAIR is beside itself over homeland security drills in Minneapolis that used actors playing jihadists who — Allah forbid! — looked like actual jihadists.

#Syrie : des smartphones contre les kalachnikovs

A travers le monde, des militants de l’ombre s’organisent pour diffuser les images clandestines des manifestations et de la répression en Syrie.

De Beyrouth à Stockholm, Vincent Jauvert, journaliste au « Nouvel Observateur » a rencontré ces activistes qui utilisent les technologies les plus modernes pour briser le silence.

Azerbaijan: Jon Snow and Amnesty International in Twitter Action

Ahead of tonight's Amnesty International Media Awards 2011, the organisation has launched a Twitter photo campaign to call for the release of an imprisoned journalist and newspaper editor in Azerbaijan. With major British media names such as Jon Snow on board, pro-government supporters in Azerbaijan reacted negatively. read »

Africa: Bloggers Discuss The Failed Rapture

The American Christian radio broadcaster Harold Camping predicted that the Rapture would take place on May 21, 2011, when Christians will be caught up in the clouds to meet Jesus Christ. It is May 24, 2011 and we are still here. Bloggers in Africa discuss the failed Rapture. read »

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More Monkey Business in Malaysia: Tweets on the acid splasher

More Monkey Business in Malaysia: Tweets on the acid splasher

Written by Mong Palatino · East Asia

More than 20 cases of acid attacks have been reported already in Malaysia since March. According to Global Voices, many residents are scared to walk in the streets. Nutty Malaysian Netizens were quick to spread information about the 'acid splashing' cases but some reports turned out to be false. read »

Here's (literally) the biggest baby on the net today:
Wednesday's Flood in Louisiana Update (UPDATED) Flooding continues in Louisiana even though I didn't write about it yesterday. This is the last full week of school and I'm feeling like a zombie. But compared to the people down south, I've got no troubles at all. Here's a little aggregation of ...

The Rapture is coming! Here's a survival kit

‎
Las Vegas Weekly - Kristen Peterson - via Google

Forget Harold Camping's failed Rapture prediction of 1996. The Christian radio broadcaster says this time it's for real. He's predicted May 21, 2011 as the ...

End of the world, May 21, 2011? Whatever, it's funny‎ - CBS News
Megan Hart: Don't worry about the world ending on Saturday ...‎ - Muskegon Chronicle - MLive.com
May 21: Judgement Day?‎ - KPSP Local 2

TechCrunch

Angry Birds Tops 200 Million Downloads; More Than Double Its “Crazy” Forecast (TCTV) - BERLIN-- Yesterday at the Next 11 conference, I interviewed Rovio's Mighty Eagle Peter Vesterbacka on stage...

HAPPY BIRD!

Health Nut Wannabee Mom

Wingy Wednesday!!Fluffy Flies! Rescued Baby Crow Is Going To Be Fine! Our 3rd Rescued Bird This Spring! Whew -  *Here he is..................... Fluffy..........* 

Famous Bloggers

Marketing Your eBook as an Audiobook

A Newbie's Guide to Publishing

Why You Won't Succeed - Ebooks aren't a straight path to fortune and fame.

TechCrunch

#TwitterAllowsYouTo. discuss. - For someone so disdainful of the Internet, New York Times Executive Editor Bill Keller sure fits the textbook definition of a troll.

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(Source: Global Voices) On April 16, 2011, France's ban on the niqaab and burqa went into effect, re-stirring emotions on the subject and sparking protests in the European country and beyond.

United States-based Egyptian journalist and media pundit Mona Eltahawy has been outspoken in favor of France's ban, stating in a recent video, “I oppose Sarkozy, but I oppose this on women, because what choice do women have besides covering their face? This ideology doesn't recognize Muslim women's rights.”

In the video, hosted by Eliot Spitzer on CNN, Eltahawy debated Heba Ahmed, who wears a niqaab covering; in counterpart, Ahmed stated that “if [Eltahawy] wants diversity in Islamic belief, then she has to accept my version, just like I have to accept hers.”

This debate, along with other recent debates in which Eltahawy appeared, has engendered debate in the blogosphere, much of which focuses directly on Eltahawy's standpoint.

Shanfaraa, an Egyptian-American blogger who is also a professor of law, agrees with Eltahawy that the niqaab is not a religious requirement, and states that, like her, he rejects the theology that forces women to wear it, but nevertheless disagrees with her stance, explaining:

Mona seems to believe that once a person falls into the grasp of Wahhabi-Salafi theology, they can never escape, but in fact, Mona herself is the best evidence repudiating that view. After all, she grew up in Saudi Arabia and managed to resist that kind of religious indoctrination. Might it not be the case that individuals in liberal cultures are at least as capable of changing their religious commitments as Mona was? The most dangerous aspect of the niqab ban, and the one that I believe Mona radically underestimates, is that the state is giving itself the right to define what a particular symbol, in this case, the face veil, means to those who adhere to it. I doubt any Muslim woman wearing a face veil would agree with the French State’s characterization of it as a form of slavery. I doubt even Mona would agree with that. Yet, by agreeing with the French law, she is acquiescing to giving the state this power of interpretation backed by coercive force over people’s inner thoughts, a very dangerous power indeed.

The Cynical Arab, a Lebanese-American blogger, takes issue with the rhetoric used by Eltahawy in a piece called “On Caged Birds and Liberators”. In it, she criticizes:

Mona Eltahawy, often heralded as a go-to feminist icon for the “liberation” of women, refuses to acknowledge that a number of those who wear the face veil do so out of their own personal discretion. Yet the argument is that they simply do not know any better, they have been indoctrinated to wear the face veil, they have no apparent mind of their own as it has been seemingly been overwhelmed with extremism forced upon them by the male figures in their lives.

A woman wearing a niqaab covering. Image by Flickr user ashi (CC BY 2.0).

Blogger Sami Kishawi, in a piece entitled “Why Mona Eltahawy is fundamentally wrong“, prefaces his piece by explaining that, “This article does not serve to debase Mona Eltahawy as an individual nor should it be read as an attack against the fundamental human rights she claims to defend.” Kishawi then takes to task Eltahawy's debate strategy, explaining:

“Everyone has a right to an opinion” is an old adage we hear almost every time we engage in dialogue, discussion, and debate. Keeping this in mind, I see nothing wrong with Eltahawy promoting her opinions. Whether or not I agree with them is a tale for another day, but the true problem arises in her strategy.

Remember, she boldly claims to represent entire groups of people. Her strategy is noticeably opportunistic. She used her “Egyptianness” to elevate her agenda during the revolution and to push her ideas through mainstream media searching for that supremely rare “liberated Muslim woman”. Naturally, she insists that she’s right and that everyone else is more than just wrong – they’re radicals. Her work instigates the divisions within our communities, both Muslim and non-Muslim, in a blind attempt to rectify the wrongs of society. She says she stands for the Egyptian people who, by the way, support an end to the siege on Gaza, but soon after gives the opening speech for the J Street conference which doesn’t necessarily advocate for an end to the military occupation of the Palestinian territories. Her overall arguments are laced with apologeticism. She uses the most informal social media outlets like Twitter to debase and discredit other academics who don’t align with her ideologies. And she retweets anything that promotes her name. All of this and more indicates a lack of professionalism that I just can’t ignore.

On the blog Musings of a Muslim Mouse, there is an open letter to Eltahawy, meant to “represent real niqaabis around the world.” The blogger writes:

You imply that it is only “extremist Salafis and Wahhabis” who wear niqaab or demand it of their women. That’s kinda funny, because I have a Sufi aunt who wears niqaab; and the nice Indian aunty at the mosque is a Deobandi, and she wears it too. The Nigerian convert who campaigns for women’s space at the mosque and demands that Muslim men stop acting like caveman and behave like gentlemen has been wearing niqaab for several years.

I’m sorry that you have had bad experiences with the niqaab. I’m sorry that you’ve had bad experiences with Muslims who call you a she-devil, a whore, and a scourge against Islam.

Sister Heba Ahmad – the one you debated on CNN – said something really beautiful that I agree with completely: “Mona is my sister in Islam and even though I must disagree when she misrepresents Islam and Muslims, she still should be protected from the tongue of her fellow Muslims.”

That’s how I feel about you. I strongly disagree with what you say about the niqaab and much about what you say about Islam and Muslims in general. But that doesn’t mean I’m going to threaten to kill you, or swear at you, or condemn you to Hell. What I will do is invite you over for coffee at my place, with open arms and a warm smile that you can detect even beneath my niqaab.

Your sister in Islam,

A Muslim Woman Who Wears Niqaab

Photo by Flickr user ashi made available under Creative Commons CC-BY-2.0 license

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"Max on Life" by Max Lucado Religion | Christian Life | General Thomas Nelson (2011) - Hardback - 256 pages - ISBN 0849948126

Many of us get lost while wandering down life's hallways and corridors, especially when our minds get clouded by misunderstanding.

Some of the toughest questions you or I might ask in a lifetime are answered by Max Lucado --- "Max on Life" is a spirit-guide in the truest sense, a "user manual for the soul" with 172 Questions and Answers!

Doubts about church and worship, concerns about love and marriage, pornography, homosexuality, the concept of "born again" --- struggling with life's myriad of any number of day-to-day issues --- all are addressed in this marvelous book!

YES there are Biblical citations/quotations...

NO preaching, just TEACHING!

Each of the 172 Q&A offer real answers for Porn (#100), Daily Needs (#145), Suicide (#156) - there's even a whole chapter entirely devoted to the afterlife! You are more than likely to find the answers you've been seeking, and some of them will definitely surprise you!

Max YOUR life with Max on Life!

PS ::: A special addendum includes Max's advice on writing and publishing. It's followed by a page and a half of notes referencing source material, a topical index, scripture idex and contact pages for Max Lucado along with a few other products. Well-done, Max!



Tags: Max Lucado, Max on Life

Disclosure of Material Connection: I received this book free from the publisher through the BookSneeze®.com <http://BookSneeze®.com> book review bloggers program. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255 <http://www.access.gpo.gov/nara/cfr/waisidx_03/16cfr255_03.html> : “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

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And now a quick scan of what bloggers are blogging about! (Click here for more evidence that blogs ARE NOT "dying"!)

First up, a real eye-opener::: in Meeting Young Obama (posted on Anonymous Political Scientist by John C. Drew, Ph.D.), we learn about the American president from someone who claims to have had direct contact with him in the 1980s.

One of the biggest surprises in the last century has been that new religions continue to emerge in modern societies. According to The Technium, this was not supposed to happen.

If you'd rather look at photos, XiaXue [#1] has posted a series of snapshots taken in Dallas, Texas last Christmastime. Now, if you are in the mood for racier pics...

Tired of her template, Kimberlycun [#4] did a major blog overhaul... (results)

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My my...

it's difficult to believe people are making a big deal out of this... let's go after every catholic politician who is divorced or who has had an abortion or has broken some other teaching... Meanwhile, back in Washington, newsmedia reports have Barack Obama trying to "come to terms" with the idea of gay marriage...

the founding fathers or whoever it was that figured out it is best to keep church and state seperate certainly knew what they were talking about!

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Gadhafi: "Hell no, I won't go!"

Col. Muammar el-Qaddafi vows “to fight to the last drop of blood” as clashes intensify between rebels and his loyalists in the capital, Tripoli and witnesseses describe the streets as a "war zone."

Influential Muslim cleric Yusuf al-Qaradawi issued a fatwa on Monday that any Libyan soldier who can shoot dead embattled leader Moamer Kadhafi should do so "to rid Libya of him." This is on the level of, let's imagine, Justin Bieber telling kids to burn any Christine Aguilera CDs they find around the house... :::MoRe:::

Cuba's former leader Fidel Castro warned Tuesday that unrest in Libya may be a pretext for a NATO invasion. Nicaragua's Daniel Ortega has jumped to the support of the embattled leader of the North African nation, saying he telephoned to express solidarity. Qadafy says he's standing his ground. (And won't back down, adds Tom Petty).

World stocks fell on Tuesday as the growing revolt in Libya drove crude prices to 30-month highs in New York and London [prices for North Sea Brent LCOc1 touched $108.57 a barrel before paring some gains], prompting fears the unrest could spread to other major oil suppliers in the region and harm global growth. Gas prices are skyrocketing.

ليبيا ليست تونس او مصر !! - صورة

Tags: Libya, Egypt

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Muslim televangelist Yusuf al-Qaradawi says he knows what the Muslim Brotherhood in Egpyt thinks -- and he provides clues to how they might act. A profile in Germany's Der Spiegel called him the "Muslim Dear Abby." He made an appearance in Cairo on Friday.

Washington may reconsider the Muslim Brotherhood and engage with the moderate Islamist movement. Or not...


The Society of the Muslim Brothers (often simply الإخوان Al-Ikhwān, The Brotherhood or MB) is an Islamic transnational movement and the largest political opposition organization in many Arab states. The group is the world's oldest and largest Islamic political group, founded in 1928 by Hasan al-Banna, a 22-year-old elementary school teacher, as an Islamic revivalist movement in Egypt, after the collapse of the Ottoman Empire. The group has followers in 70+ countries. The Brotherhood was not the lead actor in the demonstrations in Egypt leading up to the resignation of Hosni Mubarak, but it played an important supporting role and made a conscious effort not to hijack the revolution away from idealistic young people brought together by social networking.

Related: A Young Girl's Response to Anti-Islamic Sentiment in the USA.

Readers can get a better understanding of the Muslim Brotherhood influence in America by reviewing Sayyid Qutb’s works ‘Milestones’ [ pdf ] and ‘In The Shade of The Quran’ (15 volumes, also downloadable in pdf form here). Chris Gaubatz has written "My Life Inside CAIR and The Muslim Brotherhood" - in which he purports to reveal the true aim of the organization.

A Look At The Youth Of Egypt's Muslim Brotherhood

Journalist Charles Sennott recently returned from Tahrir Square, where he was filming a documentary on the revolution for PBS's Frontline. It focuses on the young members of the Muslim Brotherhood [official website] who played an important role in Egypt's revolution. [Audio report].

So where exactly is all this leading to? It's that little bug of social revolution, of political upheaval, of "time for a change." Once it gets momentum going, it is very difficult to stop.

We cannot and should not FEAR change, but we can ACCEPT it and DEAL WITH IT! Remember, nothing is forever!

Tags: Muslim Brotherhood, Middle East uprising

For The Chinese Islamist organization known as the Muslim Brotherhood, see Yihewani.

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