UAE to deposit $3bn in State Bank of Pakistan

[Trango Towers]

Riba at 3% per annum. Sweet sweet riba from one muslim to another.

Actually most people dont underatand the difernec between riba and interest

If i gave u 100 dollars today and you can but 100 apples with that today.
In 1 years time you return 100 dollars and it can only buy 97 apples...

DID U RETURN THE 100 DOLLARS?

Now if i as a lender will always incur a loss due to inflation etc why would i lend you money?


So u see most people just throw this ribba term around without understanding.

 

[maithil]

Friend indeed.

 

[denel]

Good but ultimately you will need to turn the entire economy back on track and away from the circular debt which will cripple the country.

 

[Lincoln]

investment takes time...surprisingly govt is moving fast expected signatures will happen on jan and Feb when crown prince of saudi and UAE come to Pakistan

Time will tell. It's great to be having investments, the biggest worry is keeping their confidence intact.

 

[ziaulislam]

All this borrowing has only met half our needs for the year. We will still need to borrow from commercial banks.

We will have to pay ~3% interest to the UAE for this loan. It is not free money. According to that article China lent us money at 1/3rd that rate so Ummah is proving quite expensive. If you include 10% rupee depreciation per annum we are looking at over 13% interest for the UAE and KSA loans.

Bonds and commercial borrowing will be higher than 6%

 

[maximuswarrior]

less then $2 dollar a day indian you have been saying this since 2017.

slap after slap after slap after slap on your face. its quiet remarkable

LOL this @SunilM fool got owned.

This is very much to the credit of PTI. Also thanks to UAE. I hope all iIl feelings can be put aside and we can work tirelessly in various projects.

Saudi Arabia, UAE, Arab nations and Pakistan must trade and work together. The West has shown its true face during the Khashoggi affair.

 

[SunilM]

LOL this @SunilM fool got owned.

This is very much to the credit of PTI. Also thanks to UAE. I hope all iIl feelings can be put aside and we can work tirelessly in various projects.

Saudi Arabia, UAE, Arab nations and Pakistan must trade and work together. The West has shown its true face during the Khashoggi affair.

As I said before, You will be asking IMF for a bailout soon enough. At max by June 2019.

 

[Abdussamad]

We've already submitted a draft plan to them so we are definitely seeking an IMF bailout.

 

[Abdussamad]

If i gave u 100 dollars today and you can but 100 apples with that today.
In 1 years time you return 100 dollars and it can only buy 97 apples...

DID U RETURN THE 100 DOLLARS?

The use of fiat currencies is also a form of riba in Islam. In islam only gold and silver can be used as a medium of exchange. I'm not a muslim just pointing out some things for the more pious members of this forum. There is no brotherhood of muslim countries. There is nothing islamic about loans like these. Getting all chuffed about it is pointless. It is all interest based and even involves the currency of the much hated american infidels.

 

[Trango Towers]

The use of fiat currencies is also a form of riba in Islam. In islam only gold and silver can be used as a medium of exchange. I'm not a muslim just pointing out some things for the more pious members of this forum. There is no brotherhood of muslim countries. There is nothing islamic about loans like these. Getting all chuffed about it is pointless. It is all interest based and even involves the currency of the much hated american infidels.

I agree. Its irrelevant. Most people dont understand. Even pious ones. But people love talking

 

[War Thunder]

Actually most people dont underatand the difernec between riba and interest

If i gave u 100 dollars today and you can but 100 apples with that today.
In 1 years time you return 100 dollars and it can only buy 97 apples...

DID U RETURN THE 100 DOLLARS?

Now if i as a lender will always incur a loss due to inflation etc why would i lend you money?


So u see most people just throw this ribba term around without understanding.

That's why the curreny you are refering to itself is ribba and haram.
The only currency in Islam is the metal currency with a constant value.
Not the paper filth, which they play with how they wish and can rob you of its value when and how they please...