Shariah Compliant Finance is not as “innocent” and “ethical” as the proponents report. The full disclosure of what Shariah laws entail is often not disclosed, and only a few on the rules about what is and what is not acceptable to invest in under Shariah are discussed by the banking and finance industry promoting this .
This article shows the lack of respect for human rights applied to women in Afghanistan. However, this happens in most countries that are Islamic and practice Shariah Law. The crux of Shariah is subjugation. The glossing of this type of finance especially in this crisis of US economics is now being sold to the public as an alternative to the greed of Wall Street. Buyer Beware, do not be fooled. Shariah is more than not investing in alcohol or pork. Shariah is the rules of Islam, which cannot according to the law, be changed or reformed. If anyone tries to tell you this is not so, do your research.
Most of the posted articles on this blog discuss Shariah in it’s many forms. More often than not, there is no need for additional commentary, as the articles and the purpose of this blog are explained in the “About”section. Please keep checking back, as we post daily, and go through hours of international papers and blogs to give you a digest of what is going on in the world of Shariah Compliant Finance.
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comments by Allyson Rowen Taylor
By Raja Asghar
ISLAMABAD, Sept 28: Although a woman supervises Pakistan’s banking sector as the central bank governor, a premier commercial bank of the country, according to one of its senior officials, cannot accept women as witnesses in what a prominent lawyer and senator described on Sunday as a “gender-based discrimination” violating the Constitution and Islamic injunctions.
The Allied Bank’s regional head for credit administration department in Islamabad said this was being done under “court instructions” and “government of Pakistan rules”.
“Witnesses of ladies are not acceptable (sic),” said a memo from the official to a bank branch in Islamabad in connection with a credit facility against Defence Savings Certificates that was finalised on Saturday after the applicant was made to substitute a promissory note signed by two male witnesses for one that bore signatures of as many women, while several other papers needed for the arrangement were all signed by male witnesses.
This correspondent, who was shown the memo as an applicant for the facility, asked the bank official, Mr Saeed Akhtar, by telephone whether he was sure women could not stand as witnesses in such case. He replied: “Yes surely. I am doing this for 20 years.”
The official did not specify any law or a prudential regulation banning women from being witnesses but said this was being done lawfully although women held senior positions in the banking sector, whose supervisory State Bank of Pakistan is currently headed by its first woman governor Shamshad Akhtar.
continue reading at http://www.dawn.com/2008/09/29/top8.htm