Well, selected superficial Islamic banking products that continue to use legal devices to potray it as Islamic will possibly face worst than the physical tsunami one fine day, Wallahualam.
Wednesday, December 30, 2009
Tuesday, December 29, 2009
Monday, December 28, 2009
Sunday, December 27, 2009
Saturday, December 26, 2009
In conjunction with Awal Muharram 1431 Hijrah, let us start to Hijrah from 'Legal Device Islamic Banking Products' to True Islamic Banking Products. Salam Maal Hijrah 1431 Hijrah.
Please do not celebrate the coming new year of 2010 as each and every months are name after the Romanian God.Wallahualam.
Friday, December 25, 2009
No more able to offer excuses for whatever sins that one has committed, no longer able to use Darurah (necessity) to justify
the legal device used to justify and endorse so called certain Islamic Financial Products. Thus couldnt understand why selected Shariah Advisors originating from Malaysia are too bold in their ruling in the name of innovation and protecting the shareholder plus return on investments. Few others in Malaysia will simply follow like kettle and repeat everything like parrot without bordering to check from globally recognized prominent scholars. Wallahualam.
Thursday, December 24, 2009
Tuesday, December 22, 2009
Monday, December 21, 2009
Sunday, December 20, 2009
Those were the days where old kampung houses were build collectively by the villagers with minimum cash involved, how nice it was to be enjoying Keroncong while its rains as shown here in the black and white P Ramlee movie of Antara Dua Darjat. But now......now things has changed...in Malaysia Bai Bithaman Ajil that is supposedly to be a buy and sell contract, in substance is a loan document despite what the court of appeal has said. Analyse the document that even an idiot will be able to tell you that it is a loan document. Wallahualam
April 6 2010 Tuesday Zurich Switzerland
April 13 2010 Tuesday London UK
April 20 2010 Tuesday Makkah Al Mukkarammah Saudi Arabia ( In English/Arabic)
Well it is high time for one to listen to the other side of the coin in order to arrive at a better conclusion.
Promising you to be a worthwhile Islamic Banking & Finance seminar series that you have ever attended in your whole life, InsyaAllah.
To register, e mail: email@example.com
CASE STUDY SEMINAR SERIES 1431 HIJRAH/ 2010 ON BAI BITHAMAN AJIL COURT OF APPEAL CASE OF BIMB VS GHAZALI & OTHERS
26/8/ 2009. The same series will be held at various venue in Malaysia. In addition to the case study, those banking customers that have problems with Bai Bithaman Ajil products are also welcome to register and highlight their problem to be discussed openly during the seminar. Selected unreported litigation cases on BBA will also be highlighted.
26/1/2010 Tuesday Kuala Lumpur Malaysia
2/2/2010 Tuesday Georgetown Penang Malaysia
9/2/2010 Tuesday Labuan Malaysia
16/2/2010 Tuesday Kota Bharu, Kelantan Malaysia
To register, please e-mail for further info:- firstname.lastname@example.org
Salam Maal Hijrah 1431 H, Let us look forward for more progress in Islamic Banking & Finance Globally, InsyaAllah.
Friday, December 18, 2009
Wednesday, December 16, 2009
In search of Halal Rezeki, no syubhah it is better to sell papadom with nasi kandar rather than taking the high risk of selling the religion by issuing various ruling on Muamalah by becoming so called Shariah Advisors. Wallahualam.
Monday, December 14, 2009
Sunday, December 13, 2009
Malaysian James Bond aka Mat Bond To Investigate Abuse of Label Islamic to Selected Islamic Banking Products
Perhaps we should employ Mat Bond to look and examine selected self interest local Shariah Advisors that hold their position in direct conflict of interest with their personal business interest etc. Enjoy this short old malay movie opening clip ...anyway, Mat Sentul as Mat Bond.
Dubai will ultimately be save by Abu Dhabi on strict terms.
Yesterday (saturday, 12/12/09 , at Menara Integriti Kuala Lumpur Malaysia at Young Corporate Malaysian Summit 2009 the Deputy CEO of CIMB Bhd told all participants that when he is in Dubai, he is not sure whether he is in Middle East or Las Vegas.
Anyway, let everybody continue to analyse the Dubai Financial Crisis and let us enjoy for a moment the Kelantese Dikir Barat Song entitled 'Ayam Serama' that originally came from Minang song "Ayam Den Lapeh'. Enjoy.......
Thursday, December 10, 2009
Monday, December 7, 2009
Thursday, December 3, 2009
This scene of Seniman Bujang Lapok from the brilliant P Ramlee is about Sudin trying to give a useful advice on how to reduce the motorcyle noise.
By analogy, look at what selected few Shariah Advisor did--they too tried to give what they thought useful advice even though most of the well established international foreign scholars rejected most of their advice--what matters to these selected local Shariah Advisors is that Malaysia continue to be receptive of whatever advice that they may give--as , as always this is Islamic Banking ala Malaysia, I suppose.
Watch the movie carefully a very short clip but very thought provoking by the late Allahyarham Tan Sri P Ramlee.
Tuesday, December 1, 2009
These musicians are at their best when rendering the evergreen old russian song 'dark eyes' that Razak Rahman won the Malaysian Bakat TV in 1971 black and white Malaysian TV back then.
But at least these musicians didnt behave as few of local Shariah Advisors permitting derivatives when even Warren Buffet said that it is a financial weapon of mass destruction.
Well, these crazy advisors plan to launch the so called Islamic derivatives in Bahrain this month coz according to these Shariah Expert there are good derivatives and bad derivatives.
Anyway, let us enjoy dark eyes at the moment......
Monday, November 30, 2009
Sunday, November 29, 2009
Saturday, November 28, 2009
Wednesday, November 25, 2009
Recently, few of the silly self interest so called officially Malaysian made scholars (Shariah Advisors) were exposed in Kuala Lumpur at the International Scholars Meeting in Kuala Lumpur last week where repeated questioning by the Middle East Scholars have exposed the true colour of these character in exploiting Islam for personal gain. Worst, simple Intellectual Discourse questions were responded emotionally.
One cannot continue to lie forever-- a good lesson for these Malaysian made Shariah Advisors.
Let us forget these legally appointed crooks and enjoy this evergreen original relaxing song Ayam Den Lapeh by the late Oslan Hussein.
Tuesday, November 24, 2009
Monday, November 23, 2009
Saturday, November 21, 2009
Friday, November 20, 2009
This documentary aired by the History Channel 555 Astro last week sunday 15/11/09 8pm and tommorrow sunday 22/11/09.
All the parts are available on you tube by entering Tun full name in the search box in you tube.
Despite being a human being and having few major weaknesses, on the whole this is the well respected statesmen globally and have achieved so much for Malaysia.
Yg Bhg Tun Dr Mahathir in his official opening speech of Bank Islam Malaysia Berhad in 1983 at Menara Tun Razak Kuala Lumpur has insisted that Bank Islam Malaysia should practice a true Islamic Banking. (a text copy of his original 1983 speech will be scanned and e mail to you free of charge if you request it at email@example.com Please do provide us genuine particulars of yourself)
Do tune in tommorrow sunday 22/11/09 at 555 History Channel Astro at 8pm for the final part of the documentary for more insights of his trying times and challenges.
Let us not to be overly too innovative in creating Islamic Financial Products as we intentionally normally to refuse to consult well established scholars such as Sheikh Dr Yusoff Qardhawi, Sheikh Wahba Al Zuhaily, Sheikh Taqi Uthmani but continue to rely to some few half past six self interest local scholars that is earning mutiple income left right up down.
(Evidences available such as those reported in few local publications etc etc)
And worst still last monday 16/11/2009 Malaysian Reserve published a statement as headline that the Debate of legality of the product is irrelevant-as Malaysia need to have whatever conventional banks have--these statement by a young so called Islamic local bankers that have receive award in London in a locally sponsored Islamic Banking event event but conducted in London recently. Well a lesson to be learn is that we can self proclaimed that we are the best by sponsoring any relevant event and thus will go up on stage to receive the award complete in tuxedo and bow tie that is no different from those normally wore by magicians , Wallahuallam
Wednesday, November 18, 2009
Monday, November 16, 2009
Tuesday, November 10, 2009
Yesterday when I was young the life who so simple before 1983 in Malaysia. There is no Bai Bithaman Ajil financial product to victimized customers where incompleted houses still haunted the customers to pay the banks who is suppose to be the owner and worst part owner (i.e. bank) who just is too concern the money borrowed paid back to them, this is clearly loan, not buy and sell transaction.
How then in this whole wide world the customer is going to chase the developer who has dissapeared when the owner is clearly sitting in front of their eyes calling themselves "Islamic Banks'
Well, Shariah Advisors approve BBA therefore the fault lies with Shariah Advisors who equally have vested interest by receiving payments from the banks for their so called invaluable services to the banks. Wallahualam.
Monday, November 9, 2009
Sunday, November 8, 2009
Saturday, November 7, 2009
Friday, November 6, 2009
Thursday, November 5, 2009
In addition to what Yg Bhg Tun Dr M has said, if youth are interested to become an Islamic bankers ,youth should pursue the right kind of knowledge and training so that youth can start repairing all the mess that the old selected few self interest Shariah Advisors have done to our Islamic banking financial products. Ask any middle east bankers than one would immediately know the answer without having to do much research. Wallahualam.
Tuesday, November 3, 2009
This is a dikir barat version of Yg Bhg Tun Dr Mahathir , 'Malay Dillema'--for us all to collectively Muhasabah in our strive to repair the ummah economically via Halal and proper manner in light of our aspiration to grow the market for Islamic banking globally. This can be done only if we really implement the actual Muamalah principles in all aspects of Islamic banking and finance ignoring in total copy and paste mentality.
Even the robbers during those days opted for gold dinar instead of paper money. It is therefore strange that we in modern days with supposedly best educational background still prefer paper money.
Yg Bhg Tun Dr Mahathir Mohamed the Malaysian former PM has repeatedly called for the usage of gold dinar at least amongst OIC members nation. Perhaps our global financial systems framework are in reality conventional and Islamic only in our dream. Wallahualam.
Sunday, November 1, 2009
Thursday, October 29, 2009
Sunday, October 25, 2009
Thursday, October 22, 2009
This originally Ayam Den Lapeh very relaxing song-- here in this version it talk about working for Halal Rezeki as a career as compared to doubtful job (Syubhah) as Shariah Advisory Board members supervising the Islamic Banking System.
Without Iman--then what matter most is the Return on Investment--what matter most is the bottom line--what matter most is the Shareholder Fund-----as propagated by the leading Malaysian Shariah Advisory Council in Bank Negara and recently reported in The Malaysian Reserve.
Hello Mr Millionaire Shariah Advisor, I am not asking u to turn the Islamic Bank into charity.
The proof that Islamic banking gives priority to profit making and loss sharing via eg Musyarakah, Mudarabah.
But since u are in hurry--then everything is upside down and we are simply lying to ourselves that we have become the model for the global Islamic Banking System. Please ask any real foreign Islamic bankers--then only this dark secret will be unfolded ...We talk more later, meanwhile enjoy this Iman Mutiara by Raihan.
Tuesday, October 20, 2009
Shared via AddThis
This article from a UM Prof appeared in the star dated 20/10/09.
Monday, October 19, 2009
I reserve all my comments on this issue as we should let the defender of the present BBA format
present and defend their view at the forthcoming Bar Council Seminar on BBA in Terengganu this wednesday Oct 21,2009.
I will InsyaAllah write more on it after Oct 21, 2009.
Allah swt knows the best our ability and intention in anything .
Thursday, October 15, 2009
Wednesday, October 14, 2009
Tuesday, October 13, 2009
Shared via AddThis
This issue was covered in my seminar recently held at E&O Penang and will be repeated with updated info this year end InsyaAllah in Labuan.
I will talk more about BBA in later posting as currently I am in my Muqaddimmah stage since starting to blog yesterday.
Sunday, October 11, 2009
Since admitted to the Malaysian Bar as Advocate & Solicitor on 23/8/1991, I am actively involved in presenting papers in local and international seminars/conferences/summit on Islamic Banking & Finance as early as March 1992, a year ahead of the introduction of SPTF counters (Skim Perbankan Tanpa Faedah) for conventional banks in Malaysia in addition to Malaysia having the first Islamic Bank way back in 1983 till todate. This blog has been created due to many requests from past participants and also at the encouragement of Prof Dr Mahmood M Sanusi from the Inceif University established in Malaysia by the Malaysian Central Bank. For the record, Prof Dr Mahmood has more than 26 years experience at Ahmad Ibrahim Kulliyah of Laws, International Islamic University Malaysia prior to joining Inceif. Few years ago the learned Prof was invited by Harvard in Boston US and last year by University of Cambridge UK to share his views about these extremely important subjects. I will talk more on the issues relating to Islamic Banking & Finance soon and for the time being suffice to say Assalamualaikum wbt and Salam Eid Fitr Al Mubarak 1430 Hijrah on this 23rd Day of Syawal 1430 Hijrah.
Last but not least, this blog is writing point blank nothing but the truth and surely with an extremely intelligent audience on the net, all of you may judge on my sincere intention despite forseeing that there will be those that are keen to talk in the defence of certain products that are regarded by them as Islamic even though mere common sense will tell otherwise other than simply protecting the bottom line i.e. the shareholder and the return of their investment (ROI).
This blog is free for all i.e. to those who really understand well what is happening in the market with permission to quote for Ibadah but please do acknowledge the source of the info quoted to ensure everything is straight Halal and Barakah.
Businesswise, wealth of legal documentations that have originated from the conventional preceedents are being studied and corrected not merely by simply copy and paste or to put it in the words of Dr Humayon one of the paper presenter from the UK at The Malaysian Central Bank Conference on Legal Issues organized by IFSB 2 weeks ago--the learned Dr has used the term 'plug and play' though I prefer' copy and paste' term to describe the extremely weak full of loopshole selected legal documentations that are currently available in the market. Thus to seek for legal documentations vetting and opinion, I am opening up to the global market to offer the chargeable service by e mailing your proposal and/or instruction to : firstname.lastname@example.org
InsyaAllah will continue with the second series very soon.