On Islamic Banking as Hail Mary. A Fatwa on My Best Friend
One last refuge of …..:
“In view of the rapid growth of Islamic banking, and the increased participation and acceptance of international financial institutions in Islamic banking practices that are based on the Shari’a…… ….BKME is in the last stages of becoming a fully Islamic bank… Islamic banks were the least affected by the international financial crisis, because they were not exposed to (housing) mortgage derivatives.” aawsat
Looks like he is saying they will try this because everything else failed. which is as good as any reason. They do it on Wall Street all the time. It is sort of their Hail Mary: not sure about the full of grace part here....
Fatwa of the day:
“It is not permissible to sell cats, monkeys, dogs and other than them which have fangs, because the Prophet (sal-Allaahu `alayhe wa sallam) forbade that and denounced it, and also because it involves a waste of money, which the Prophet (sal-Allaahu `alayhe wa sallam) also forbade.”
This online fatwa is unfortunate. I could never allow my best friend to see it. But then again, it does not say I can’t keep my best friend, it only says I can’t sell man’s best friend. My best friend probably likes that part, I hope.
As for the part about monkeys: I must warn you that this fatwa was issued online by a group of prominent Saudi ulema (clerical big bananas) , with the august title of The Permanent Committee for Islaamic Research and Fataawa, Not sure what is with all the extra aaa’s here
Cheers
mhg
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