Islamic Banking and terror financing in Bangladesh

[Bhairava]

Islamic Banks in Bangladesh may open branches in India or Indian Muslims themselves may build such banking institutions by themselves for the Indian muslims.

How does Bangladeshi Islamic banking funding terrorist activities co-relate with Indian muslims opening Islamic banking for Indians ?

And Islamic banking or not, Bangladeshi banks are not there in India afaik.

So both your points are wrong.

So what happened? Was there any investigation? And yes, Indians have accused us of funding terrorism, being involved in terrorism many times before. And as of yet, not a shred of evidence. And frankly, we won't be surprised if this holds the same.

Hahaha some one tell this gut that probe and investigate are synonyms and not two different things...

 

[Zabaniyah]

Hahaha some one tell this gut that probe and investigate are synonyms and not two different things...

My question was, where is it? I didn't see any progress. No reports, nothing.

How are you so sure that Bangladesh-based Islamic banks fund terror? And did it historically ever?

 

[indian_jigar]

Islamic Banks in Bangladesh may open branches in India or Indian Muslims themselves may build such banking institutions by themselves for the Indian muslims. This is how the Usury taking Banks will keep on losing cutomers. So, in order to stop the Islamic Banks start and flourish in India, this Indian Dipanjan is lying against the system

As far as I am aware, there is no banking treaty between India and Bangladesh, so your rant is frankly just some delusional crap that is not in touch with reality. Its not going to matter how successful or unsuccessful your Islamic Banking is because you would not be able to open a branch regardless.

 

[Zabaniyah]

It was an investigative report with ample proof.

By who? Bob the clown?

HuJi is a reality, your own country has banned it, under pressure from the US government. Although that doesn't mean they don't operate anymore. Blaming HuJi doesn't automatically mean blaming Bangladesh Govmt.

Again, evidence.

Few years down the line you ll find out that there was a lot of substance in that story. Mark my words.

Sure, I buy it.

Not...

What a load of nonsense, you cannot just come into any country and open banks catering to local clients right away.
1. Both Governments need to have a treaty, any defaulting banks the Government of that country will be held liable.
2. You need to provide Bank guarantees and security deposits equivalent to the amount of deposits that the bank intends to collect from customers.
3. The bank needs to furnish all returns and collections on a daily basis.
4. The bank has to be localized, no local deposits go out of the country without clearances from the National Bank.
5. The bank intending to operate has to have the same interest and returns structure as all operating banks in the host country with just minor variations.
6. The bank has to get into agreements and pay usage fees to all other banks that it wishes to interlink locally with.

There are a hundred more terms and conditions including limited operations, limited number of outlets, staffing, scrutiny, ceiling of deposit collections, all transaction to be routed through the National bank i.e. Reserve bank of India.

Hence the Islamic bank of Bangladesh does not just waltz in and start collecting deposits from Indian Muslims, you'll need to pay through your nose to start operations and you are not big enough to bear those costs.

As far as I am aware, there is no banking treaty between India and Bangladesh, so your rant is frankly just some delusional crap that is not in touch with reality. Its not going to matter how successful or unsuccessful your Islamic Banking is because you would not be able to open a branch regardless.

http://www.sbibd.com/
Arab Bangladesh Bank Limited
Mumbai Branch
Liberty Building
41-42, Sir Vithaldas, Thackerse Marg
New Marine Lines, Mumbai 400-020, India
Tel: +91-22-22005392, +91-22-22005393
Fax: +91-22-22005391
SWIFT: ABBLINBB
E-mail: mumbai@abbank.com.bd
AB Bank Limited - About - Corporate Information

You can save your rants and delusions for later now

And yes, Bangladesh does have banks overseas in Europe and the Middle East.

You see people? Indians are the masters of misinformation. And they are proud of it.

 

[eastwatch]

What a load of nonsense, you cannot just come into any country and open banks catering to local clients right away.
1. Both Governments need to have a treaty, any defaulting banks the Government of that country will be held liable.
2. You need to provide Bank guarantees and security deposits equivalent to the amount of deposits that the bank intends to collect from customers.
3. The bank needs to furnish all returns and collections on a daily basis.
4. The bank has to be localized, no local deposits go out of the country without clearances from the National Bank.
5. The bank intending to operate has to have the same interest and returns structure as all operating banks in the host country with just minor variations.
6. The bank has to get into agreements and pay usage fees to all other banks that it wishes to interlink locally with.

There are a hundred more terms and conditions including limited operations, limited number of outlets, staffing, scrutiny, ceiling of deposit collections, all transaction to be routed through the National bank i.e. Reserve bank of India.

Hence the Islamic bank of Bangladesh does not just waltz in and start collecting deposits from Indian Muslims, you'll need to pay through your nose to start operations and you are not big enough to bear those costs.

Why do you have to beat about the bush to counter a possibility of opening Islamic type of Bank in India. Every Foreign Bank needs permission from the authority if it wants to open a branch in another country. However, it is always possible to open a Bank by the Indian Muslims to cater to their people. So, in order to stop this an idolator bigot of India is trying to tarnish the image of Islamic Banks in Bangladesh.

 

[Roybot]

By who? Bob the clown?

Yes if you want to call United States Senate Bob the clown, then sure.

The excerpts of the US senate report can be found here,

US panel exposes governance failure at HSBC

And the full report can be read here (if you are bothered that is)

http://www.clmr.unsw.edu.au/sites/default/files/attached_files/us_senate_report-__hsbc.pdf

Again, evidence.

You want intelligence reports and evidence to be presented to you?

HARAKAT UL-JIHAD-I-ISLAMI/BANGLADESH (HUJI-B)

aka HUJI-B, Harakat ul Jihad e Islami Bangladesh; Harkatul Jihad al Islam; Harkatul Jihad; Harakat ul Jihad al Islami; Harkat ul Jihad al Islami; Harkat-ul-Jehad-al-Islami; Harakat ul Jihad Islami Bangladesh; Islami Dawat-e-Kafela; IDEK

Description: Designated as a Foreign Terrorist Organization on March 5, 2008, Harakat ul-Jihad-i-Islami/Bangladesh (HUJI-B) was formed in April 1992 by a group of former Bangladeshi Afghan veterans to establish Islamic rule in Bangladesh. In October 2005, Bangladeshi authorities banned the group. HUJI-B has connections to Pakistani militant groups such as Lashkar e-Tayyiba (LeT) and the Indian Mujahedeen (IM), which advocate similar objectives. The leaders of HUJI-B signed the February 1998 fatwa sponsored by Usama bin Ladin that declared American civilians legitimate targets.

Activities: In December 2008, three HUJI-B members were convicted for the May 2004 grenade attack that wounded the British High Commissioner in Sylhet, Bangladesh. In 2011, Bangladeshi authorities formally charged multiple suspects, including HUJI-B leader Mufti Abdul Hannan, with the killing of former Finance Minister Shah AMS Kibria of Awami League (AL) in a grenade attack on January 27, 2005. Bangladeshi police also arrested many top HUJI-B leaders in 2011, including Amir Rahmatullah (aka Sheikh Farid) in April, and chief Moulana Yahiya in August. Bangladeshi police recovered arms, explosives and bomb making materials following the arrest of HUJI-B operative Abdul Alim in May.

Strength: HUJI-B leaders claim that up to 400 of its members are Afghan war veterans, but its total membership is unknown.

Location/Area of Operation: The group operates primarily in Bangladesh and India. HUJI-B trains and has a network of madrassas in Bangladesh.

External Aid: HUJI-B funding comes from a variety of sources. Several international Islamic non-governmental organizations may have funneled money to HUJI-B and other Bangladeshi militant groups.

Country Reports on Terrorism 2011 Chapter 6. Foreign Terrorist Organizations

 

[indian_jigar]

You see people? Indians are the masters of misinformation. And they are proud of it.

Well, in my defence, I did say "As far as I know". No need to get so worked up.

Also, that doesnt look like an Islamic Bank which is what we are talking about here. But the point I was trying to get across is Bangladeshi banks are not that big in India, much less Islamic Bangladeshi banks. For anyone to suggest the reason this article was written was to stop the domination of Islamic Bangladeshi banks in India is still pretty delusional in my view.

 

[illusion8]

By who? Bob the clown?



Again, evidence.



Sure, I buy it.

Not...





State Bank of India, Bangladesh
Arab Bangladesh Bank Limited
Mumbai Branch
Liberty Building
41-42, Sir Vithaldas, Thackerse Marg
New Marine Lines, Mumbai 400-020, India
Tel: +91-22-22005392, +91-22-22005393
Fax: +91-22-22005391
SWIFT: ABBLINBB
E-mail: mumbai@abbank.com.bd
AB Bank Limited - About - Corporate Information

You can save your rants and delusions for later now

And yes, Bangladesh does have banks overseas in Europe and the Middle East.

You see people? Indians are the masters of misinformation. And they are proud of it.

And you can save your rants for your countrymen, did I say it's impossible? A sole branch in Mumbai does not transcend into delusional lungi clad's dreams of taking in Indian Muslims deposits and causing financial losses for India. The banking sector will shunt them out if they get into anything that's seedy or fundamentalistic or get into terror financing activities. That solo branch would be under watchful eyes anyways.

 

[boltu]

Islamic Bank of Bangladesh is the most successful and profitable bank of BD.They still posses a hell lot of money where other banks are suffering from liquidity crisis.So i assume its just another way of conspiracy against them ,but people still prefer the Islamic way of banking and will continue to do so.Even Standard Chartered has started Islamic banking named 'Standard Chartered-Saadiq'.

 

[Spring Onion]

How does one do that? If not for this article Indian Muslims will go to BD and open accounts in Islamic Bank Dhaka??

1. Indian Muslims are poor enough NOT to have bank accounts be these in Islamic banks or otherwise.

2. India is the only country in the region which has grabbed clients specially from Gulf a huge market even their govts have deposited huge amount in Islamic Banking there. Whereas Pakistan failed to expand Islamic banking here while BD is doing well.

3. Therefore India would love to see Islamic Banking closure in BD.

4. The example is the retarded write up by an Indian in this thread, since he is implying falsely that BD Islamic Bank has links with terror outfits whereas its NOT like that. If any client has links with any terrorists its NOT the fault of the bank. The bank can only close down the account of the said person after evidence.

 

[Spring Onion]

Islamic Banks in Bangladesh may open branches in India or Indian Muslims themselves may build such banking institutions by themselves for the Indian muslims. This is how the Usury taking Banks will keep on losing cutomers. So, in order to stop the Islamic Banks start and flourish in India, this Indian Dipanjan is lying against the system

He is not attacking the Islamic Banking System since India has rapidly opening Islamic expanding than Pakistan and BD and got a huge market due to lack of Islamic Banking in other countries in the region. He is only attacking Bangladeshi Islamic banking to harm you and put a halt to any new clients.

 

[illusion8]

1. Indian Muslims are poor enough NOT to have bank accounts be these in Islamic banks or otherwise.

2. India is the only country in the region which has grabbed clients specially from Gulf a huge market even their govts have deposited huge amount in Islamic Banking there. Whereas Pakistan failed to expand Islamic banking here while BD is doing well.

3. Therefore India would love to see Islamic Banking closure in BD.

4. The example is the retarded write up by an Indian in this thread, since he is implying falsely that BD Islamic Bank has links with terror outfits whereas its NOT like that. If any client has links with any terrorists its NOT the fault of the bank. The bank can only close down the account of the said person after evidence.

\

The government today said it is not legally feasible for domestic banks to carry out interest- free Islamic banking activities.

"RBI has informed that in the current statutory and regulatory framework, it is not legally feasible for banks in India to undertake Islamic banking activities in India or for branches of Indian banks abroad to undertake Islamic banking outside India," Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.

He said the Reserve Bank of India has received references from the Indian Centre for Islamic Finance for introducing interest-free banking in the country in order to ensure inclusive growth with innovation in accordance with recommendations of the Raghuram Rajan Committee.

Islamic Banking is based on the principles of Islamic law and guided by Islamic economics.

Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest. Collecting interest is not permitted under Islamic law.

'Islamic banking not feasible in India' - Indian Express

 

[Spring Onion]

The government today said it is not legally feasible for domestic banks to carry out interest- free Islamic banking activities."RBI has informed that in the current statutory and regulatory framework, it is not legally feasible for banks in India to undertake Islamic banking activities in India or for branches of Indian banks abroad to undertake Islamic banking outside India," Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.

He said the Reserve Bank of India has received references from the Indian Centre for Islamic Finance for introducing interest-free banking in the country in order to ensure inclusive growth with innovation in accordance with recommendations of the Raghuram Rajan Committee.

Islamic Banking is based on the principles of Islamic law and guided by Islamic economics.

Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest. Collecting interest is not permitted under Islamic law.

'Islamic banking not feasible in India' - Indian Express

Ok it means the "Islamic Banking" which India is offering is like throwing dust in the eyes of clients hence the Gulf states/clients as well as other Muslims should withdraw their money and deposit it in BD banks.

 

[Zabaniyah]

Yes if you want to call United States Senate Bob the clown, then sure.

The excerpts of the US senate report can be found here,

US panel exposes governance failure at HSBC

And the full report can be read here (if you are bothered that is)

http://www.clmr.unsw.edu.au/sites/default/files/attached_files/us_senate_report-__hsbc.pdf




You want intelligence reports and evidence to be presented to you?

Country Reports on Terrorism 2011 Chapter 6. Foreign Terrorist Organizations

Gee, I didn't know media reports equals to intelligence reports

But do keep us updated on developments (if any). You appear desperate

And you can save your rants for your countrymen, did I say it's impossible? A sole branch in Mumbai does not transcend into delusional lungi clad's dreams of taking in Indian Muslims deposits and causing financial losses for India. The banking sector will shunt them out if they get into anything that's seedy or fundamentalistic or get into terror financing activities. That solo branch would be under watchful eyes anyways.

Yeah, you along with another Indian did imply that.

Man, the kind of arrogance and paranoia you guys display is just laughable really

 

[Spring Onion]

Yeah, you along with another Indian did imply that.

Man, the kind of arrogance and paranoia you guys display is just laughable really :

Its ignoranat bullying not arrogance. Arrogance only suits Pakistanis and Bangladeshis