Thread: Islamiat 2014
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Old Monday, February 17, 2014
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Originally Posted by Codename Hijazi View Post




9: In the presence of interest based global financial system, discuss the possibility of interest free Islamic Financial system
Question no 9 demands two things that is first appreciate Islamic economic system by depreciating Global financial system . Who is running this system ; IMF , World trade center and certain banks ? who is funding these organization ? Discuss the reasons of wall street crisis as well as developing nation who have balance of payments deficit problems due to devaluation of their currency ... Islamic system is based on sadqat +zakat+Taxes

These all meant for equalization of wealth ...In this system Interest had been replaced with zakat which is compulsory and tax /amount that one contained with in year , land tax per income , jizaya and other as well ... Islam allow to retain property but it refrain to exceed the limits ... Interest make a few wealthy n zakat make a developed nation ... we have discussed facts in details
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Last edited by Codename Hijazi; Saturday, July 04, 2015 at 01:04 PM.
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