[ANN] IBB - Islamic Bank of Bitcoin - Dividends Statement for September

[teflone]

For Treasure chest details, see a few posts below.

For Septembers report, see bottom.

{Dividends} First Statement Release 30/8/11

IBB was started from a 'project development' thread on June 24th and after just a month from an idea in a forum, IBB shares have soared to over 1.40 BTC.

We are listed on the Global Bitcoin Stock Exchange (GLBSE.com) and have released shares at the beginning of July. Shares since then have risen steadily, and we hope for great growth in the near future. We thank you for the support and encouragement many forum readers gave us and of course to the many satisfied customers. To which without, we would not be.

With the above said we are proud to announce the paying out of dividends to our valued investors. 6.5057277 BTC in total will be paid out in dividends to 1000 shareholders, each share will receive 0.0065057277 BTC.

Teflone
PR Dept

IBB - Islamic Bank of Bitcoin
www.ib-bitcoin.com

[koin]

pardon me for missing something basic.

http://en.wikipedia.org/wiki/Dividend
"Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders."

ibb loans are issued without an interest charge.  profits for a lender generally come from interest less expenses and loss reserves.  where would the profits that these dividends represent come from?

[Yuusha]

pardon me for missing something basic.

http://en.wikipedia.org/wiki/Dividend
"Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders."

ibb loans are issued without an interest charge.  profits for a lender generally come from interest less expenses and loss reserves.  where would the profits that these dividends represent come from?

Most people choose to pay gratuity on their loans, basically adding a voluntary interest to the loan. This is definitely not necessary, and the IBB never actually asks for it, and the borrower is never punished in any way for not paying gratuity. It's just a way of saying thank you and supporting the company. IBB also makes money from selling software and from profits made in joint ventures.

I don't represent IBB in any way, this is just my understanding of the business model.

[teflone]

pardon me for missing something basic.

http://en.wikipedia.org/wiki/Dividend
"Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders."

ibb loans are issued without an interest charge.  profits for a lender generally come from interest less expenses and loss reserves.  where would the profits that these dividends represent come from?

As Yuusha stated thats pretty much it. Thanks Yuusha

This is a the most recent breakdown for August for us. https://bitcointalk.org/index.php?topic=21732.msg489140#msg489140


As you can see, gratuities happen.   We may ask if they want to give us a tip,  but gratuities are not expected and always welcomed.

Its good of you to ask.

[senbonzakura]

dividends paid

enjoy

[koin]

Its good of you to ask.

then would you mind me asking how you handle losses?  e.g., http://bitcointalk.org/index.php?topic=35678.msg474452#msg474452

[teflone]

Naturally we must absorb losses.

But we have many clever ways in handling defaulters, calling their parents is amazingly effective.

This is a joke of course.

The over whelming majority pay up, and we are learning new ways to protect ourselves everyday.

[teflone]

IBB Promotion:- Islamic  Bitcoin Treasure Chest (IBTC)


What's inside the Chest/Box ?

Casascius Coin ? OR  Bitcoin Silver Coin ? Or some other valuable Coin? & some other freebies

What's this chest useful for ?

This small chest we are giving away can be used to store your valuable coins whether it be physical BTC coins or other coins, maybe even some BitBills or other valuables.

How to win this ?

Apply for a short-term loan from IBB and you will be entered into the draw for this chest/box, last month's and this month's successful loan applicants will be entered automatically.

If you win this IBTC

We only require the winning applicant to take pictures and/or video of themselves unboxing/opening the Islamic Bitcoin Treasure Chest (IBTC) and post in the bitcointalk forums about it and the items contained therein.

*Terms and Conditions apply. More details soon.

[error]

What if I don't want or need a loan?

[Jessica]

Then you don't get a treasure chest?

[P4man]

Im kinda of intrigued by this concept. But also curious; what do you demand from loaner takers? I mean, if I apply for a loan, make up a fancy story of a business Id like to start, and I run off with the bitcoins, do you have any recourse?

[teflone]

Im kinda of intrigued by this concept. But also curious; what do you demand from loaner takers? I mean, if I apply for a loan, make up a fancy story of a business Id like to start, and I run off with the bitcoins, do you have any recourse?

Well first off, thats no way to start to get a loan

Im just teasing, these are small loans, generally  1-5 coins.


We usually get enough info that provides a reasonable assurance we can trust invidividuals.

And also our ways of persuing defaulters is quite simple. We have one way thats very effective.  If we spill it out here, it will lose the effectiveness.

At first when we started, we had a few defaulters, now since we have learned the hard way, we are getting pretty good at judging characters, and getting as little or as much info from them to satisfy our trust in them.



And to the other person, not requiring a loan..

You most certainly can take a small loan and return it. Then, maybe establishing some rep in the community in the process.


Im all ears for questions, keep them comming

[error]

Oh hell, how am I ever going to get any reputation in the community?

[teflone]

Oh hell, how am I ever going to get any reputation in the community?

Well error, sometimes you got to start small...

Im kidding, but please feel free to take a loan!

Im sure we can make an exception in your case since you have very few posts.. 

[teflone]

Not many days left!

Get your loan to enter the draw..

[saykor]

Not many days left!

Get your loan to enter the draw..

*Terms and Conditions apply. More details soon.

When we have a more details? I suppose if I get a loan in this moment the new terms not will apply.
From this https://bitcointalk.org/index.php?topic=21732 i see :
A bank that will offer :-
1. 0% Interest Free Loans

So i will get 5btc loan when i not will pay a fees, to increase a little more my reputation.

Regards,
Saykor

[saykor]

So I meet all points without number 1 but in other case we have a little history with you in the past as you know. So if you agree to not apply point 1 I can provide you the information for points 3 and 6 to apply for the loan.

[saykor]

Information send on pm.
Thanks

[TiagoTiago]

Can i get a loan just for the purpose of having a chance to win the chest? And if i do win, what would be involved in having it shipped to me here in Brazil?

[senbonzakura]

Can i get a loan just for the purpose of having a chance to win the chest? And if i do win, what would be involved in having it shipped to me here in Brazil?

yes you can , if you win we pay shipping , hurry answer my pm to get loan , so you can enter the draw