Global Halal Industry worth $ 2.7 trillion!

[Hyperion]

I agree with you that it shouldn't be. "Time Value of Money" is a simple concept, and fine one. The problem is that once you get into all of it, then it's a very slippery slope, that's precisely the reason I always try to limit myself to Trade Finance!

The Koran, as far as I know, mentions Usury !

Which as far as I know is unethical & immoral loans being given out; you know those back-breaking loans !

But isn't 'Interest' different per se seeing that its there to account for 'Time Value of Money' - Whats so unethical about that ?

 

[Huda]

@Hyperion and @Armstrong please tell me if i am wrong


If our capital is insure or money earned by without efforts is forbidden and there are some more situations who made it forbidden
But i am sure about these two

 

[Armstrong]

@Hyperion and @Armstrong please tell me if i am wrong


If our capital is insure or money earned by without efforts is forbidden and there are some more situations who made it forbidden
But i am sure about these two

Come again, I'm sorry I didn't understand !

 

[Hyperion]

Hmmm.. what are you asking dear?

@Hyperion and @Armstrong please tell me if i am wrong


If our capital is insure or money earned by without efforts is forbidden and there are some more situations who made it forbidden
But i am sure about these two

 

[AUz]

On the topic: If the halal industry include Islamic banking then it could be worth $2.7 Tr, but if it doesn't include Islamic banking then in no way it will be near $2.7 Tr.

Well no.

There exists a thing called "Global Islamic Lifestyle Market" ...I'm sure that "Halal Market" also has this under its umbrella.

 

[Huda]

Hmmm.. what are you asking dear?

1. What is Riba i mean its characteristics?
2. Is Usury different from interest?

And apne mujhe Al-huda ka bhi batane ka kaha tha

Come again, I'm sorry I didn't understand !

You confused me

 

[Love Thy Pakistan]

halal global market of $2.27 trillion does not include Islamic Banking share. IB has reached more than $1.o trillion globally and is further increasing at a rate of 20% per annum. 45 non-muslim countries have started IB and another 30 are looking for expertise to do so. There is a great global market but we are just sitting ideal and doing nothing to tkae our share.
Moreover, is it easy to be critical rather than to be correct. The basic rules of IB are truely based on Shariah principles of finance/trade. Unfortunately, we have never tried to pay attention to learn what does our Glorious religion has to say about financial matters, what are the basic rules, etc. hence, we find it easy to conclude that it is nothing but change of words. whereas, IB today is based on true shariah principles i.e. as per Shariah three things need to be eradicated from every financial transaction that we conduct i.e. Riba, gharar(uncertainities) and qimar/mayser(speculative businesses). again unfortunately, we have very limited understand of Riba and hardly anyone knows what gharar and qimar/mayser are. at present IB is making a humble effort to remove these three things from our financial transactions so that we can move towards actual islamic finance modes. It took Prophet Muhammad Peace & Blessings Be Upon Hhim almost 23 years to spread the word of Allah Subhan o Talah and other Prophets Peace& Blessing be Upon Them took sizeable time to do the same. hazrat Nouh had 950 years to spread the word of Allah Subhan o Talah. Therefore to expect over change and perfection is simply impossible. Our best bet is to support all such efforts that are aimed to give us the opportunity to earn halal earnings either through IB or any other Shariah permissible mode. First five verses of Surah Baqrah and verses of Surah Asar cleraly spells out what sort of life Allah Suhban o Talah expects for all of us. the sooner we understand our job the better as no one knows when this life is going to end.

 

[Love Thy Pakistan]

Global Halal Market of US$ 2.7 trillion comprises of food & beverages, cosmetics and pharamceuticals. if you add Islamic banking it will exceed US$ 4.0 trillion. If someone is keen to understand what Riba/interest/usury is read the "historical judgement on Riba". it will clear all misconceptions. Pakistan is the first country in the world to declare modern interest is Riba.

 

[takeiteasy]

Halal and Kosher slaughtering is cruel to animals. use better alternatives. even hitting a ox or buffalo on it's head to stun is fair compared to the horrible blood bath in the name of religion called as halal and kosher. I am pessimistic about so called "health benefits" also.

 

[Bhai Zakir]

India: Halal India wins Quality Excellence Award