Showing posts with label hadeeth. Show all posts
Showing posts with label hadeeth. Show all posts

Saturday, 7 January 2012

The Truth about sex based role divisions in Muslim Societies

by JAMEEL
Papers Presented by me in IOS International Seminar 
::: Saturday the 7th jan 2012 :::

In the name of Allah the most beneficent most merciful,
i begin by praising Allah ‘azza wa jall, as He is ought to be praised. 
Empowering Women:
Paradigms, Sources and Methodologies International Seminar
January 6-8-, 2012 Town Hall 
Calicut (Kerala)
The meaning of Muslimah - According to Farlex dictionary is A Muslim woman -a believer in or follower of Islam and a niqaabi - an observant Muslim woman who covers her face and hands when in public or in the presence of any man outside her immediate family 



When it comes to debates on women, in particular, a lot of effort has to be done in showcasing the positions that true Islam takes toward this issue, and distinctions should be built between the false image of women in radical Islam and the real image that is described in Quran and Sunnah.


In the framework of Islam, Woman is primarily considered as a Home maker and not a housewife because she is not married to a house. She can also work and is entitled to get equal pay if she does the same job as that of a male. There is no text in the Qur’an or the Sunnah which makes it unlawful for women to work or to partake any lawful job or profession. If she is married she should take the permission of her husband. She cannot take up jobs which are based on exhibiting her beauty and body, such as modelling, dancing, acting in films, taking part in beauty pageants etc. 

Many jobs which are forbidden for women are also forbidden for men, for example serving liquor, working in gambling dens, dealing in corruption and dishonest businesses, etc. A true Islamic Society requires having some women as professionals such as women physicians (doctors), women nurses, women teachers, etc. Women have no financial obligations in Islam. It is the duty of the man in the family to look after the financial aspects of the family. Therefore under normal conditions a woman need not work and is not required to earn her livelihood or that of her family. However in certain genuine cases due to financial crisis in the family where both ends do not meet, she has the option to work with the permission of her father or husband or any other elder of the family. Even in such conditions no one can force her to work and if she takes up a job it is by exercising her own free will. 

The best example we can quote is that of Prophet Muhammad’s (Pbuh) wife, Bibi Khadija (R) who was a very successful businesswoman. She transacted through her husband Prophet Muhammad (Pbuh). Hence, it becomes incumbent upon every Muslim, boy or a girl, to acquire knowledge through education. The first guidance given to the mankind in the Qur’an was "Iqra" i.e. to read, recite or proclaim. Surah Iqra or Surah Alaq Chapter 96, Verse 1-5. "Read! Recite! Proclaim! in the name of thy Lord and cherisher who created - created the human, out of a congealed clot of blood . Read and thy Lord is Most Bountiful. He who taught (the use of) the Pen- taught man that which he knew not (96 : 1-5). The first instruction in the Qur’an was, not to pray or fast or to give charity, but to read. This instruction was to both male and female. Islam gives a great deal of importance to education. Even according to Prophet Muhammad (Pbuh) "It is obligatory for every Muslim, male or female, to acquire knowledge (Al-Bayhaqi) 

The western populace has a wrong notion about Islam or it is the western media which makes the masses believe that Isalm is a religion of oppression towards the women, where as the fact is the women in Islamic countries enjoy more self respect and freedom than any western country, Here is an Example to throw light on this fact, Let me bring to your notice a part of the article printed in Washington Post in its issue of December 8-2000 followed by reply from Ms. Bassma, head of the culture and heritage committee at Al-Nahda Women's Charitable Society in Saudi Arabia. 


Washington post wrote “Five Saudi women sat in a coffee shop chatting animatedly about their lives over cafe lattes and sandwiches. Suddenly, they heard a commotion outside. Fearing that the 'mutawwa', religious police, had come to throw them in jail for being in public without a male relative, they hastily grabbed their long black scarves and covered their hair and faces as they cast wary looks around them. The 'mutawwa' did not show up, but the women decided to leave. Their outing had been spoiled. Ten years after a group of women defied a ban on driving and drove around the capital for 15 minutes, women in Saudi Arabia are still prohibited by law to drive their own cars." 

With Former Cheif Justice of India A.M.Ahmadi
& Dr Manzoor Alam - President IOS
 
Commenting on this fabricated news Item Ms. Bassma writes 

"The problem with other people is that they have a certain way of life, and they think if you don't live like them, there's something wrong with you. These self-styled liberators of women have this arrogant attitude and goes around imagining to their own fancy as to what will be the condition of women in Saudia and other Muslim countries if nobody is watching or putting pressure on them to be more civilized, and show some kindness?" 

"Why should a Muslim or any other Eastern Muslim woman for that matter, dress the way an American or European woman does? I for one am not being inconvenienced by being unable to drive in public but also believe that Saudi women should be given a choice as they have in Emirates or other Arab countries. On the brighter side, If I can have someone drive me around, why should I say no? In Paris, you have to be a princess to afford a driver. Here, every woman is a princess because she has one, and for those who cannot afford one, can always ask their relatives to drive them around, after all, not every woman gets a license in western countries either. For us in Saudia, women problems are LESS compared to some hypocrite nations acting as torch bearers to the Eastern world. They themselves are home to 40 million prostitutes with 10% carrying AIDS virus & almost 4 million of them suffering from full blown AIDS. For most of the women in Saudia, problem is whether to have blue carpet in the home or green & buy BMW or BENZ. Is this what the western countries prefer to call a suffering compared to children being sold for $5 or less or worse, 50 million female foetuses getting purged of their existence while still in their mother's wombs for either unwelcome sex or cultural taboos in most of the South East Asian countries? People want Muslim women to take off their scarves and long coats and dress more 'modernly', preferably, 'skimpily' - if that's the right word. You might agree, seldom men fantasize about women of loose characters, who might strip in front of them for a fee but a more titillating thought would be to see an educated cultured women walking with miniskirts and tight tops acting like a bimbo." 
It is afact that women in islam enjoy power, rights & freedom in all spheres of her life Dr. Jamal A. Badawi, elaborates on the status of women in Islam spiritual, social, and economical aspect Quoting from the Holy Quran as follows 
The Spiritual Aspect

Quran provides clear-cut evidence that woman is completely equated with man in the sight of God in terms of her rights and responsibilities:
"Every soul will be (held) in pledge for its deeds" (Quran 74:38).
It also states: “...So their Lord accepted their prayers, (saying): I will not suffer to be lost the work of any of you whether male or female. You proceed one from another ...” (Quran 3: 195).
“Whoever works righteousness, man or woman, and has faith, verily to him will We give a new life that is good and pure, and We will bestow on such their reward according to their actions.” (Quran 16:97, also see 4:124).
Woman according to Quran is not blamed for Adam's first mistake. Both were jointly wrong in their disobedience to God, both repented, and both were forgiven. (Quran 2:36, 7:20 - 24). In one verse in fact (20:121), Adam specifically, was blamed.

In terms of religious obligations, such as the Daily Prayers, Fasting, Poor-due, and Pilgrimage, woman is no different from man. In some cases indeed, woman has certain advantages over man. For example, the woman is exempted from the daily prayers and from fasting during her menstrual periods and forty days after childbirth. She is also exempted from fasting during her pregnancy and when she is nursing her baby if there is any threat to her health or her baby's. If the missed fasting is obligatory (during the month of Ramadan), she can make up for the missed days whenever she can. She does not have to make up for the prayers she missed for any of the above reasons 

As regards the Social Aspect Dr Badawi writes

a) As a child and an adolescent
Despite the social acceptance of female infanticide among some Arabian tribes, Quran forbade this custom, and considered it a crime like any other murder. "And when the female (infant) buried alive - is questioned, for what crime she was killed." (Quran 81:8-9). Criticizing the attitudes of such parents who reject their female children, Quran states: “When news is brought to one of them, of (the Birth of) a female (child), his face darkens and he is filled with inward grief! With shame does he hide himself from his people because of the bad news he has had! Shall he retain her on (sufferance) and contempt, or bury her in the dust? Ah! What an evil (choice) they decide on?” (Quran 16: 58-59). 

Far from saving the girl's life so that she may later suffer injustice and inequality, Islam requires kind and just treatment for her. Among the sayings of Prophet Muhammad (PBUP) in this regard are the following: “Whosoever has a daughter and he does not bury her alive, does not insult her, and does not favor his son over her; God will enter him into Paradise.” (Ibn Hanbal, No. 1957). “Whosoever supports two daughters till they mature, he and I will come in the Day of Judgment as this (and he pointed with his two fingers held together). “ 

The right of females to seek knowledge is not different from that of males. Prophet Muhammad (P.) said: "Seeking knowledge is mandatory for every Muslim". (AlBayhaqi). Muslim as used here including both males and females. 

b) As a wife: 

Quran clearly indicates that marriage is sharing between the two halves of the society, and that its objectives, besides perpetuating human life, are emotional well-being and spiritual harmony. Its bases are love and mercy. 

According to Islamic Law, women cannot be forced to marry anyone without their consent. Besides all other provisions for her protection at the time of marriage, it was specifically decreed that woman has the full right to her Mahr, a marriage gift, which is presented to her by her husband and is included in the nuptial contract, and that such ownership does not transfer to her father or husband. The concept of Mahr in Islam is neither an actual or symbolic price for the woman, as was the case in certain cultures, but rather it is a gift symbolizing love and affection. 

Over and above her basic rights as a wife comes the right which is emphasized by Quran and is strongly recommended by the Prophet; kind treatment and companionship. "...But consort with them in kindness, for if you hate them it may happen that you hate a thing wherein God has placed much good." (Quran 4: l9). The most perfect believers are the best in conduct and best of you are those who are best to their wives. (Ibn-Hanbal, No. 7396).

c) As a mother:
Islam considered kindness to parents next to the worship of God. "Your Lord has decreed that you worship none save Him, and that you be kind to your parents. . ." (Quran 17:23).
Moreover, Quran has a special recommendation for the good treatment of mothers. Once, a man came to Prophet Muhammad asking: “O Messenger of God, who among the people is the most worthy of my good company? The Prophet said: Your mother. The man asked then who else. The Prophet said: Your mother. The man asked, then who else? Only then did the Prophet say: Your father.” (Al-Bukhari and Muslim).

In another tradition, the Prophet advised a believer not to join the war against the Quraish (i.e. the pagan disbelievers at that time) in defense of Islam, but to look after his mother, saying that his service to his mother would be a cause for his salvation. Mu'awiyah, the son of Jahimah, reported that Jahimah came to the Prophet, peace be upon him, and said: "Messenger of God! I want to join the fighting (in the path of God) and I have come to seek your advice." He said, "Then remain in your mother's service, because Paradise is under her feet." "It is the generous (in character) who is good to women, and it is the wicked who insults them 

Discussing the Economic Aspect concerning the women in islam Dr Badawi says

According to Islamic Law, woman's right to her money, real estate, or other properties is fully acknowledged. This right undergoes no change whether she is single or married. She retains her full rights to buy, sell, mortgage or lease any or all her properties. It is nowhere suggested in the Law that a woman is a minor simply because she is a female. It is also noteworthy that such right applies to her properties before marriage as well as to whatever she acquires thereafter.

"Unto men (of the family) belongs a share of that which Parents and near kindred leave, and unto women a share of that which parents and near kindred leave, whether it be a little or much - a determinate share." (Quran 4:7).

Man in Islam is fully responsible for the maintenance of his wife, his children, and in some cases of his needy relatives, especially the females. This responsibility is neither waived nor reduced because of his wife's wealth or because of her access to any personal income gained from work, rent, profit, or any other legal means [this fact is often used to justify the fact that a woman’s share in inheritance is one-half of a man’s]. Woman, on the other hand, is far more secure financially and is far less burdened with any claims on her possessions. Her possessions before marriage do not transfer to her husband and she even keeps her maiden name. She has no obligation to spend on her family out of such properties or out of her income after marriage. She is entitled to the "Mahr" which she takes from her husband at the time of marriage. If she is divorced, she may get alimony from her ex-husband.

An examination of the inheritance law within the overall framework of the Islamic Law reveals not only justice but also an abundance of compassion for woman.
Considering the fact that before the advent of Islam the pagan Arabs used to bury their female children alive, make women dance naked in the vicinity of the Ka'ba during their annual fairs, and treat women as mere chattels and objects of sexual pleasure--possessing no rights or position whatsoever, these teachings of the Quran were revolutionary. It is also a fact that during the downward cycle of Islamic Civilization; such teachings were not strictly adhered to by many people who profess to be Muslims.

Such deviations were unfairly exaggerated by some writers, and the worst of this, were superficially taken to represent the teachings of "Islam" to the Western reader without making any original and unbiased study of the authentic sources of these teachings. That’s why Islam, probably the most misunderstood faith, needs to be speculated again; but this time regarding to what it is not what it is shown to be. 


Those who keep repeatedly wailing on the fabricated & false stories of atrocities and oppression of women in Islamic countries seldom see the realities of many non muslim countries. Recently shown in BBC program ASSIGNMENT titled: 'Let her die!', the reporter Emily Buchanan revealed that almost 3000 abortions take place daily in India, when parents find out that the foetus is that of a female child. These alarming statistics goes to depict that we have more than a million female infanticide cases taking place in India alone. The Telegraph of London reported a conservative estimate of 250,000 child abusers in UK of which already 110,000 have been convicted. Scotland Yard admitted to these figures which goes on to depict that almost a quarter of a million Britons - more that one in every 200 adults, is a paedophile and most often the victims of these unnatural desires of perverts are female kids/children. With such statistics, every kid's parent living in the U.K. would be frightened to death to leave their wards alone, almost anywhere. The upholders of Muslim women rights in the west or elsewhere might advocate that whatever minimum tolerance exists in Islamic countries or Muslim minds, is due to the indirect fear and pressure from the countries of the west and other progressive people of the world. It's surprising that they always seem to neglect to mention that over 50% of university graduate students in Saudia are a woman which is far higher ratio even when compared to our India or most western nations. A Saudi woman has also just been appointed head of a UN agency - but such facts are of no interest to these writers. If nations like India and the rest of the third world (in fact the elite's in third world countries) want to follow the ways of the west and become morally and spiritually bankrupt, let them - the Muslim countries should not follow them down the path to hell. Moreover, I wonder, why these people seem to care so much about Muslim women suffering in the hands of their illiterate/intolerant husbands or society. No one ever seems to care about Muslim men or try to uplift their social status in terms of financial or educational help? If we look at it from political perspective, it would seem like Americans have a long way to go as in it's over hundred years of independent history, it's yet to elect a women premier, which has almost become a norm in some Muslim countries of South East Asia and has happened once in Turkey. 

Dress code should never be in the agenda of women when she thinks of empowering herself in the contemporary world. Many a Non muslim researchers who have studied the life & culture of different Muslim communities with a clear and unbiased mind have acknowledged this fact , I would liketo concludewith avery interesting article written by Mary Walker (Production Co-ordinator on the BBC2 series "Living Islam") Also published in Impact Magazine Canada and was titled “A World Where Womanhood Reigns Supreme” 

Ms Mary Walker writes :
When I joined the team of "Living Islam" two years ago, my perception of Islam was dominated by prejudice and ignorance, and I found its treatment of women abhorrent. To me the veil symbolised the oppression of women, making them invisible, anonymous and voiceless, and the cause of this oppression lay in the will to perpetuate the family and maintain a patriarchal framework - the very basis of an Islamic Society. I thought women were entirely submerged by divine justification of their role as wife and mother. 

"Living Islam" was filmed over two years in 19 different countries and on location I was a lone female in an otherwise male team. I was aware that I especially should behave appropriately. In my mind, women were to be neither seen nor heard. My first trip took me to Mali - to an untypical Muslim community in the bush. Making sure to cover every bit of naked flesh while the men wandered around in short sleeves, I wondered what rooms I was permitted to enter and who I was permitted to talk to. But I also wondered whether my new-found meekness was not in part a reaction to the overpowering atmosphere of the patriarchal society I found my self in. Was this how Muslim women felt - resignation in the face of impossible odds? 
The first Muslim woman I met in Mali was far removed from my preconception about the Muslim female. She was the wife of a Shaikh dedicated to converting pagan villagers to Islam. A sophisticated, well-educated woman, previously married to a diplomat, she had renounced a Western lifestyle for a life in purdah. In my eyes she had sentenced herself to life imprisonment. But here was no prisoner, no poor downtrodden slave. A sharp intelligent and influential woman stood before me, clearly the one "who wore trousers" round here. Here seclusion gave her a status of honour and allowed her to exercise control from behind closed doors without confrontation. She was the bargainer, the head of the household, and the manager of her husband’s affairs and schedule. 

The emancipated woman in the West faces the conflict between confirmation of her femininity and the privileges that she associates with it, and repudiation of the confines of her female role and all the limitations that men want her to assume. From where I stood, this woman had transformed those limitations into privileges. 

On my next trip to northern Nigeria I met two more women who would alter my views even further. These were two women from the household of Shaikh Zakzaky, a fervent preacher of Jihad who urges his supporters to follow the example of Iran and replace the imperialistic western regime with an Islamic state. Zeenah Ibraheem, Zakzaky's wife and Fatima Yunus, her friend, had agreed to be interviewed about the role of women in Islam. They were in purdah and would only speak to another woman. The producer asked me to interview them. I was nervous apart from the fact that I had never interviewed anyone before. I was worried that my feminist sympathies would antagonise the women. But it was precisely these sympathies that Zeenah and Fatima themselves were questioning. Once again, the women were educated and articulate. And once again they had rejected the Western lifestyle which I considered so superior to Islam in its treatment of women. 

As I took my seat on a carpet in the courtyard, the invisible boundary between men and women was a welcome partition, and within this boundary womanhood reigned supreme. This was a sharp contrast with the feelings from the previous days in locations where my presence had been acceptable only as an "honorary man". We had been filming the medieval theatrics of the 'Salla' celebrations that marked the end of Ramadan. Men, men, men everywhere: 500,000 men gathered for prayer on the morning of the Salla, men pouring into the inner courtyard of the Emir of Kano's inner courtyard to pay homage - I was grateful to be allowed to witness these events but at what price? The complete annihilation of my female identity? 

But now I was taking the reins because of my sex. No more the feeling of inferiority and exclusion, as a novice in things Islamic surrounded by a team of experts, as a woman in a patriarchal society. Now the men were excluded. Apart from the cameraman and sound recordist, they were encouraged to stand well back. The cameraman covered his head and the camera with a black cloth - his very own veil. I was now in a world where the men had no voice. 

The women talked and in their answers I saw the seeds of my own re-evaluations. They argued that the veil signified their rejection of an unacceptable system of values which debased women while Islam elevated women to a position of honour and respect. "It is not liberation where you say women should go naked. It is just oppression, because men want to see them naked." Just as to us the veil represents Muslim oppression, to them miniskirts and plunging necklines represent oppression. They said that men are cheating women in the West. They let us believe we're liberated but enslave us to the male gaze. However much I insist on the right to choose what I wear, I cannot deny that the choice is often dictated by what will make my body more attractive to men. Women cannot separate their identity from their appearance and so we remain trapped in the traditional feminine world, where the rules are written by men. 

By choosing to wear the veil, these women were making a conscious decision to define their role in society and their relationship with men. That relationship appeared to be based more on exchange and mutual respect (a respect that was often lacking in the personal relationships I saw in the West), than the master/servant scenario I had anticipated. The Veil to them signified visual confirmation of their religious commitment, in which men and women were united, and for Zeenah and Fatima an even stronger commitment to a political ideal. 

So were my notions of oppression in the form of the veil disqualified? If my definition of equality was free will then I could no longer define that oppression as a symptom of Islam. The women had all exercised their right to choose. To some extent, they were freer than me - I had less control over my destiny. I could no longer point at them and say they were oppressed and I was not. My life was influenced by male approval as theirs - but the element of choice had been taken out of mine. Their situations and their arguments had, after all, served to highlight shortcomings in my view of my own liberty. 

In conclusion let me say ours is a religion very grossly misunderstood and there is no doubt that Islam actually grants women all rights according to Quran & Sunnah, and contrary to popular belief. Muslim women have the right to go out of their homes, to seek an Education, participate in social activities and to seek employment. It is the tradition and tribal societies, not Islam to be blamed for any low status and oppression of women. It is the revision of practices not divine Injuctions that is needed. It is not the revelatory Quran and the sunnah that need any editing or revision, what needs to be examined or re examined are fallible human interpretations and practices and not the Islam as a religion
ALSO READ :Protection of Environment : Statistics, Responsibility, & Contribution

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Thank you
Member All India Milli Council –Karnataka
Bangalore. 01, 

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Wednesday, 4 January 2012

Envy ( Hasad )

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Envy  ( Hasad )
Envy (Hasad) means resenting the blessings of Allah that are enjoyed by the one who is envied, and wishing that it be taken away. In other words, the envier wishes that the blessing be taken away from the one whom he envies, whether the blessing comes to him or not.



So the envier resents the blessing of Allah and wishes that it be taken away, and he may even make efforts to take it away.

It was narrated that Abu Hurayrah (RA) said: The Messenger of Allah sallallau alaihe wassallam said: “My Ummah will be stricken with the disease of the other nations.” They said: “What is the disease of the other nations?” He sallallau alaihe wassallam said: “Insolence, arrogance, accumulation (of wealth), competition in worldly gains, mutual hatred and envy, until there will be wrongdoing and then killing.”

The issue of the evil eye includes all people, even those who are righteous if they do not pay attention to it, whereas envy is limited to certain people. Hence the envious person has certain characteristics by which he/she may be distinguished, such as the way he/she looks and smiles, the expression on his/her face, and the way he/she speaks. All of that points to what is in his/her heart. Whatever a person conceals in his/her heart will inevitably show on his/her face and through slips of the tongue, in the way he/her looks and smiles, and in all his movements and expressions.

By His wisdom, Allah has made man’s face a mirror which reflects the thoughts that are hidden in his mind and heart. The effects of sickness are seen in the sick man’s face, and the sorrow of one who is grieving and depressed shows on his face, and the good health of one who is sound is reflected on his face. If a person is happy and content, his hidden thoughts show on his face and through slips of the tongue. If a believer is true and sincere in his faith and humble before the Most Merciful, and reads the Qur’an frequently, that joy and light will show on his face; his nature will be humble and kind, and his speech will be polite and noble. The opposite is also true: the effects of an evildoer’s immoral actions and sin will be reflected in his face and in slips of the tongue, even if he outwardly resembles those who are righteous.

By the same token, the envier who resents the good things that people have and wishes that the blessings of Allah be taken away, is sick at heart and lacking in faith. No matter how much he tries to conceal what he feels inwardly, he will soon let out the envy that he feels.

So how to recognize the envier? Well we will discuss this later insha Allah.

May Allah SWT protect all of us.

Monday, 2 January 2012

Islamic banking is the need of the hour

Islamic banking is the need of the hour
Amid dilly-dallying over allowing Islamic banking in the country, experts have said it is a question of "how soon and not whether it will be allowed", as it can greatly help a fund-starved country get long-term finances.
"It is not when, but how soon, the Reserve Bank and the government will take a positive view on this highly effective financing option," T Balakrishnan, the brain behind the country's first proper Shariah-compliant financial services firm Al Barakah Financial Services, promoted by the Kerala government, said on the sidelines of a meet on Islamic banking organised by the Indo-Arab chamber of Commerce and Industries here today. Balakrishnan, who just retired as the additional chief secretary of Kerala in-charge of industries and commerce, said the Kerala State Industrial Development Corporation-promoted Al Barakah Financial Services, which was refused permission by the RBI early this year to start NBFC operations, is still hopeful of getting the regulatory nod.
Islamic banking prohibits charging interest from idle deposits, but allows investment in productive projects business and the resultant profit-sharing.
Pointing out that 75 per cent of the bank deposits in Kerala is held by the state's Muslim population, which constitute 25 per cent of population, he said, if Al Barakah Financial Services, in which, the state holds 11 per cent equity, or any other organised player is allowed to operate, they can easily channel billions of rupees to build infrastructure in the state.
But he added none of these depositors draw interest from their banks, as it is prohibited under their faith.
At present, Islamic banks across the globe manage an asset base of over $1 trillion (as of 2010), which is projected to reach $2.8 trillion by the turn of 2015.
Addressing the summit, Rajya Sabha Deputy Chairman R Rahman Khan blamed the bureaucracy for their myopic approach to developmental issues.
"The problem is that our bureaucracy is not open to change and look for newer ideas. So is the case with the officials at the central bank.
"If they open their eyes and look at the Arab world and their finances, they will find that their banking model is many times better and more stable than interest-driven banking system that we have," Khan said.
Shariq Nisar, a director at TASIS that advices Shariah-compliant companies in their investment areas, said, "It is not that there is no Islamic banking being practiced in the country now. There are aplenty, but all in an unorganised manner. What we need is a formal approval from regulators, so that large players can enter and tap this huge untapped money for productive purposes."
Pointing out that already Islamic fund houses like Gulf Finance House, have invested over $1 billion in the country's infra sector like roads, ports, railways, airports, which are all Shariah-compliant, a partner at law firm Clasis Law Ishtar Ali said the Naiad Toll Bridge was partly funded by Islamic finances.
"But companies cannot come and invest in more such projects because our banking rules don't allow them to do so," he said.
Balakrishnan said, Al Barakah Financial Services will again move the RBI for approval and expressed the hope that it will come by going by the 30 per cent (or $300 billion) funding gap envisaged by the Centre for its $1 trillion infra push in the next Plan period.
He also drew his optimism from the recent statement by the Prime Minister that it is high time the country looked at the Malaysian model of infra funding.
The Southeast Asian tiger economy heavily depended on Islamic funds for its infra expansion. So are China, the US, Britain, Germany, France and many other non-Arab, non-Muslim nations, Balakrishnan said, adding Islamic banking is thriving in as many as 75 countries today.