RE: Defend our secular constitution against the introduction of Islamic Banking

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• Ghana citizen 7 months ago

  I find this a good article but a mis-leading title.

  I find this a good article but a mis-leading title.

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• Baba 7 months ago

  I kindly request if you can educate us why the topic because it misleading and trying to paint Islam banking as align to Ghana constitution. Ghanaweb must please be source of good information not misinformation.

  I kindly request if you can educate us why the topic because it misleading and trying to paint Islam banking as align to Ghana constitution. Ghanaweb must please be source of good information not misinformation.

  reply
• Commonsense 7 months ago

  Excellent levelheaded piece. The original article 'Defend our secular constitution against the introduction of Islamic Banking' was hiding under the guise of defending secular Ghana to trigger interfaith friction, but i have ...
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  Excellent levelheaded piece. The original article 'Defend our secular constitution against the introduction of Islamic Banking' was hiding under the guise of defending secular Ghana to trigger interfaith friction, but i have to commend you for avoiding that pitfall in a dignified and matured way. Kudos

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• ola 7 months ago

  I concur; I agree with your position. Omitting the word 'against' would have made sense of the title.

  I concur; I agree with your position. Omitting the word 'against' would have made sense of the title.

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• judischrislam 7 months ago

  Why do we charge interest on loans and borrowed money? Interest is a concept that is not understood by many people.
  The first ethical reason to charge interest is to preserve the purchasing power (value) of the loaned money ...
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  Why do we charge interest on loans and borrowed money? Interest is a concept that is not understood by many people.
  The first ethical reason to charge interest is to preserve the purchasing power (value) of the loaned money. For example you borrowed money to buy ten liters of petrol at 3 cedis a liter last week.
  Now this week the price of petrol has gone up to 3.25 cedis. So to be fair to the lender you should pay 32.50 cedis so that the lender can afford the same quantity of petrol.
  Money is a commodity that involved in all aspect of trading so it is also a trading commodity. Since we go into business to make profit the the commodity involved should earn profit.; hence interest.
  Tere are two types of interest : Simple and compound interest. In simple interest it is the borrowed money that interset is charged on. Whereas in compound interest interest is added to the borrowed money and at the end of the term if it is not fully paid then the new sum is regarded as a new loan you have taken so interest earned also earns interest.
  
  In the Islam Community, the ineterst is paid at the time you are getting the loan. So money in hand equals the requested amount minus a fee that is retained by the lender. It is a disguished form of ineterst. The only difference is that it occurs one time.
  
  The question is why do they want their own Bank/ Would they allow a non muslim person to borrow from their bank? Waht are the financial liabilities to Ghana should they fail? Who is going to provide the initial seed money and how are they going to stay solvent?
  These are questions mto be asked and answers provided.

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• SOS 7 months ago

  Begone evil spirit, begone.
  
  There is nothing called Christian Banking and Islamic Banking but just one form of banking which has been practised in the West and and it's ex-colonies and another practised in some Middle-East ...
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  Begone evil spirit, begone.
  
  There is nothing called Christian Banking and Islamic Banking but just one form of banking which has been practised in the West and and it's ex-colonies and another practised in some Middle-Eastern countries and their affiliate nations.
  
  Over the last 250+ years people tied to western economies have started noticing a significant differences in the standards of living and quality of life of communities exposed to the two banking systems and are calling for more of the other (ie. Islamic Banking) in an attempt to improve their lots.
  
  There is absolutely no reason to politicise or constitutionalise that.
  
  |The people deserve true democracy.

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• Asante Boadi 7 months ago

  What about Christianity Banking, Budism Banking, Jewish Banking. Ghana must be very careful before Islam takes over the whole country. Just look at what has been going on with "Bokaharam" in Nigeria.

  What about Christianity Banking, Budism Banking, Jewish Banking. Ghana must be very careful before Islam takes over the whole country. Just look at what has been going on with "Bokaharam" in Nigeria.

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