Islamic Bank of Bitcoin - LOANS

[MoneyGod]

I ofc did that already and it's basically what I said, a different word for interest. Or buy and resell profitably which equals interest again..
Would have liked to hear what muslims say about that.

Also there might be a difference between some english text on the internet and reality, considering censorship.

What you want to know about this please explain to me hope I can give you all information about this because I have some knowledge about this

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[m5j0r]

Thank you.

I've found this to be a short summary of everything else I read:

Ijara works as a leasing arrangement: the bank buys something for a customer and then leases it back to them. Different forms of leasing are permissible, including those where part of the instalment payment goes toward the final purchase. This might be used to help you buy a car or other item, or to help a business buy equipment.

Murabaha works by the bank supplying goods for resale to the customer at a price that includes a margin above the costs, and allows them to repay in installments. This might be used to provide a mortgage on a property. The property is registered to the buyer from the start.

But this contradicts the following:

A Muslim is not allowed to benefit from lending money or receiving money from someone.

To me it sounds like it's just naming things differently. It's just as if the bank would take your house as a collateral while you pay down debt as usual. And letting you buy it for a higher price equals interest again.
If I call the interest a fixed payment or not it will still be me profiting from you borrowing my money.

Do I miss something here? Or is it just a religious contradiction like it often is the case in other religions as well?

Edit:
Something else:

The money from savings accounts is invested in ethical products (sharia compatible) and return generated for the customer. A "target"-return is agreed on. What if the target-return cannot be reached? What if the investment fails? Do the customers then take the losses on their savings account?
This "shared-risk" concept is an interesting one.

[arbitrage001]

Thank you.

I've found this to be a short summary of everything else I read:

Ijara works as a leasing arrangement: the bank buys something for a customer and then leases it back to them. Different forms of leasing are permissible, including those where part of the instalment payment goes toward the final purchase. This might be used to help you buy a car or other item, or to help a business buy equipment.

Murabaha works by the bank supplying goods for resale to the customer at a price that includes a margin above the costs, and allows them to repay in installments. This might be used to provide a mortgage on a property. The property is registered to the buyer from the start.

But this contradicts the following:

A Muslim is not allowed to benefit from lending money or receiving money from someone.

To me it sounds like it's just naming things differently. It's just as if the bank would take your house as a collateral while you pay down debt as usual. And letting you buy it for a higher price equals interest again.
If I call the interest a fixed payment or not it will still be me profiting from you borrowing my money.

Do I miss something here?

You are not missing something.

Some culture just like to fool themselves rather than adopt to current economic rules and calling things differently.

[jkreddyg]

Hi,

I need 4-6 BTC for two months.I can Provide you BCT, IFC Coins & My ID,Address Proof as collateral.

[waqas]

Hi,

I need 4-6 BTC for two months.I can Provide you BCT, IFC Coins & My ID,Address Proof as collateral.

This thread is no longer active for loans you need to check some other thread here in this section for your loan

[Cryptogirl82]

so is this loaning bank still active?

[waqas]

so is this loaning bank still active?

Just read above post this bank is not active for long time OP is not online here for last 2 months

[Umer]

so is this loaning bank still active?

Just read above post this bank is not active for long time OP is not online here for last 2 months

Yup the Owner of the post did not come here from 2 months.. and i think he will not come ..

MAybe a mod have to delete this post?

[waqas]

so is this loaning bank still active?

Just read above post this bank is not active for long time OP is not online here for last 2 months

Yup the Owner of the post did not come here from 2 months.. and i think he will not come ..

MAybe a mod have to delete this post?

Which post you want to delete no one can delete any thing here just op can do all things

[Umer]

so is this loaning bank still active?

Just read above post this bank is not active for long time OP is not online here for last 2 months

Yup the Owner of the post did not come here from 2 months.. and i think he will not come ..

MAybe a mod have to delete this post?

Which post you want to delete no one can delete any thing here just op can do all things

AH i thought that the moderators of the forums have the rights to delete the topic i mean remove topic or move topic..

[jhay08]

I need a 1.20 bitcoin loan to be repaid 6 weeks.




1P4Rn1iJBH7sZ2Jyx2hNHeCKEXW9yWLJ7g

[Matze]

I need a 1.20 bitcoin loan to be repaid 6 weeks.




1P4Rn1iJBH7sZ2Jyx2hNHeCKEXW9yWLJ7g

Did you not read the other post before you.

[IsaacDestruction]

1BqTZ2Srgu9tUR6NJmYMftmBxP2PWv8KVR

السلام عليكم

I would like to borrow .5 bitcoin, I would pay you back within 1 week

The reason for this loan is, I'm trying to help my mother pay for the bills, her husband (my stepdad) and her have recently broken up (not complaining, he was a pretty abusive guy). I don't have a job at the moment, but I'm selling my Playstation and laptops to earn money back. I know that this probably doesn't mean much to you, and I'm a new user to this website also, so it's slightly hard to trust me. I wish I found out about bitcoin talk sooner, but I'm pretty new to the bitcoin scene in general. I used to sell things on eBay, game accounts and stuff that I didn't need, but my eBay account recently got closed due to a false chargeback on an expensive item. At this time, I'm cheated out of a good $800, have no job to supply myself, and am trying to help my mother who is lacking the funds necessary. I know there is no good reason to trust me at all, because of my short history with this website, but I can assure you, from the deepest spot in my heart, that I will get the money that you loan me (if you lend me money) back to you in one week time.

Like I said, I have not that much history on bitcointalk, I'll be honest. But I'm sorry for that, I honestly wish I could have picked up on bitcoin earlier. I definitely plan on staying in the community and trying to be the best person that I can be. I'm sorry for the emotional-ness of this post, but it would be absolutely wonderful if you could lend me.

Inshallah

[Umer]

stop it they are not online anymore.

[sukamasoto]

This thread has not been active and the last login IBB Ibrahim @ April 14, 2014, 07:08:54 AM
useless to get a loan here 

[csis]

Do you have a website?

[btc_investment]

Do you have a website?

him do not online in long time.

[Barnabe]

It's quite amazing that people ask for loans without even looking for previous posts...