Thursday, December 31, 2009

26th Dec 2004

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.

Saturday, December 26, 2009

Al Hijrah Raihan

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

Sheikh AbdulRahman Sudais-Surah Qiyamah w/English Trans.

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

الشريعة والحياة - البدعـة ومجالاتها المعاصرة

Interview by Al Jazeera with Sheikh Prof Dr Wahba Al Zuhaily

Prominent Scholars Agreed to be the Muamalah Issues Advisors

Alhamdullillah the law firm of Messrs Syed Iskandar Syed Jaafar , Advocate & Solicitor Kuala Lumpur Malaysia have today on 7th Muharram 1431 Hijrah, Thursday  sucessfully secured the official consent from a  prominent Global Islamic Banking & Finance scholars --Sheikh  Prof Dr Wahba Al Zuhaily to be one of the member to the Advisory Panel of the law firm on Muamalah issues. We will continue to vet documents without fear or favour and say nothing but only the truth in Muamalah related issues, InsyaAllah.

Sunday, December 20, 2009

Krc. Alunan Biola (P. Ramlee)

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 things has 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

Analysts say HLB's R5.50 price for EON Cap OK

Analysts say HLB's R5.50 price for EON Cap OK

Crucial Legal Issues in Islamic Banking & Finance 1431H/2010 International Series

What is the status  of the current practice in Islamic Banking & Finance globally? What are the views of established scholars such as Sheikh Dr Yusof Al Qardhawi & Sheikh Dr Wahba Al Zuhaily on the ruling/fatwas issues by few  of the so called innovative Shariah Advisors? What are legal cases and documentations affecting the industry? Come prepared, you will know the answer.

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:


Many issues not fully addressed by Court of Appeal as well as the submission brought forward during the Appeal. Critically and constructively analysed. The one day seminar will be in the form of  endless questions and answers session relating to the issues to be discussed. Come prepared and ensure that you leave no stone unturned. Uncovered any doubts that you may have about the case itself or about any other cases referred to by the Court of Appeal in its  judgment delivered orally on 31/3/2009 and in writing on
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:-

Salam Maal Hijrah 1431 H, Let us look forward for more progress in Islamic Banking & Finance Globally, InsyaAllah.

2,000 trapped as Eurostar trains break down

2,000 trapped as Eurostar trains break down

Friday, December 18, 2009

Muslims urged to work towards greater cooperation

Muslims urged to work towards greater cooperation

Sheikh Dr Yusof Al Qardhawi received the Maal Hijrah award, Alhamdullillah
Salam Maal Hijrah 1431 Hijrah

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.

The pros and cons of mega projects

The pros and cons of mega projects

ayam serama-pendi

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 3, 2009

Bank of America to repay US$45bil bailout funds in next few days

Bank of America to repay US$45bil bailout funds in next few days

Seniman bujang Lapok Exhaust buluh

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

Benkó Dixieland Band - Dark eyes - Ochi chornye

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......

M'sian Islamic banks not affected by Dubai crisis

M'sian Islamic banks not affected by Dubai crisis

First foreign sukuk listing on Bursa

First foreign sukuk listing on Bursa

Wednesday, November 25, 2009

New book on Dr M out next week

New book on Dr M out next week

Oslan Hussein : Ayam Den Lapeh (HQ Audio)

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.

Price of gold eases

Price of gold eases

Bank Negara leaves benchmark interest rate unchanged

Bank Negara leaves benchmark interest rate unchanged

AIG approves US$7mil pay package for CEO Benmosche

AIG approves US$7mil pay package for CEO Benmosche

Friday, November 20, 2009

Part 1of Biography of Tun Dr Mahathir - 8

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 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.

aku bukan musuh harta-Carila Rezeki Halal

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

Mufti Taqi Usmani - Riba (Lecture)

The Major Sins Series- Riba/Interest/Usury - Abu Usamah 8/18




Do You Want the Islamic finance system?

Could Islamic banking be the answer to the current economic downturn

First ever U.S Islamic Banking Subsidiary

Tuesday, November 10, 2009

Bank Negara and China Banking Regulatory Commission sign MOU

Bank Negara and China Banking Regulatory Commission sign MOU

yesterday when I was young

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.

Media mogul Rupert Murdoch threatens to sue BBC

Media mogul Rupert Murdoch threatens to sue BBC

Weak US$ at 15-month low pushes gold to new high

Weak US$ at 15-month low pushes gold to new high

Thursday, November 5, 2009

Tuesday, November 3, 2009

'Conspiracy Of The Rich' ABC News

apa erti merdeka

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.

The International - Official Trailer

This film is based on true story of one International Bank.

The Truth About The Economy: Total Collapse

Pengumuman liberalisasi sektor perkhidmatan kewangan - Bahagian 1 (27-04-2009)

Nujum Pak Belalang (1959) - Part 4

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.

KeAgungan Tuhan - D'lloyd

Think before start exploiting Islam for small financial return by disguising selected conventional banking products as Islamic. A mere cosmetic change will not change the substance.

Islamic Banking System Resists Financial Crisis

CNBC World - Islamic Finance: Applying religion to economics

Islamic Banking in the west

The Urgent need for The Muslim Dinar Fixed at 1 gram of Gold in 57 Muslim states.

Thursday, October 22, 2009

YouTube lagu terengganu kerabu pucuk paku

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.

Iman Mutiara - Raihan

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.

Monday, October 19, 2009

The Malaysian Reserve Front Page Report on BBA Dated Monday October 19, 2009

Today the business newspaper i.e. The Malaysian Reserve has published some excerpts of the Court of Appeal long outstanding written judgment dated August 26,2009 on BBA since its delivery on March 31 2009. Briefly, suffice to say that the current BBA in its present format is in fact a loan not property purchase and property sale contract but in this judgment the court of appeal held otherwise.
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 .

Tuesday, October 13, 2009

Interview with Malaysian Business May 1st 2009 Issue

As Muqqadimmah kindly refer to the interview between me and Malaysian Business May 1st 2009 issue either the hardcopy or by google search the net with the title ' Crucial Issues In Islamic Banking & Finance '. InsyaAllah , hope that it will benefit you in understanding further the basic issues on Muamalat, InsyaAllah.

Year 1952-Rare Azan from Masjid Al-Nabawi, Madina

Rare Azan 1952 from Masjid Nabawi Madinah Munawwarah

Azaan E Fajr - Masjid E Nabvi, Madina Munawwarah

Fajr Azan from Masjid Nabawi Madinah Munawwarah.
Nabi Muhammad saw reminded us that whoever Ziarah his Makam and said Salam , he will answer it and also he will help with his syafaat in the Yaumul Qiamat.

Azan-E-Fajr From Makkah

InsyaAllah, Rezeki comes from Allah swt with an early morning performance of Solat Fajr . This Azan from Masjidil Haram Makkahtul Mukkaramah start at 1.11.

Bank Negara must help defaulters of Islamic banking: CAP

Bank Negara must help defaulters of Islamic banking: CAP

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

Muqqadimmah-Introduction On Islamic Banking & Finance Issues

Let me introduce myself in this very first series of articles on Islamic Banking & Finance.
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 :

InsyaAllah will continue with the second series very soon.