The trouble with the term “Islamic banking”

By: Liibaan Yusuf

Image taken from: https://www.arabfinance.com/2015/Pages/news/
newsdetails.aspx?Id=313086&lang=en

There are banks internationally that pass themselves off as Islamic banks, trying to cater to the Islamic community.

So, what is Islamic banking?

Before answering this question, you have to know what banking is. Banking isn’t as simple as it sounds. You’d think it would be as simple as putting your money in the hands of a reputable organization which will hold it for you, Right?

Wrong.

The world of banking is far more complex and complicated than it started as.

Modern banking dips its toes into many different areas such as home ownership, lending and interest. Interest will be the main focus of this article. What is interest in terms of finance and banking? According to Investopedia.com, “Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party”.

In Islam, interest is haram or forbidden. This hadith (saying), narrated by Abu Hurayrah, but written by Ibn Majah in “The Prophet”, said: “Riba (interest) has seventy segments, the least serious being equivalent to a man committing adultery with his own mother”. It’s extremely easy to understand the state of interest in Islam, it’s completely forbidden.

In the case of Islamic banking, interest is a joke or illogical. Interest, which is a pillar in the modern banking system, is impossible to stand together with Islam, where interest is vehemently opposed. It’s like water and oil, no matter how much you try to mix them they will never mix.

Safdar Alam, founder of Siyam Capital, speaks out about this in detail. “’Islamic banking’ is completely disattached to Islam, it’s redundant to call it Islamic as it goes about everything Islam has forbade. Islamic banking systems is NOT Islamic at the root and cannot be considered Islamic without changing the principals of Islam”.

So, the problem with “Islamic banks” is that they do actually charge interest, and therefore present themselves fraudulently as being Islamic. A true Islamic bank would not charge interest.

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How does the reboot of the ‘Bel-Air’ show compare with the older ‘The Fresh Prince’?

By: Abdihakim Mohamoud

The reimagining of the popular ’90s sitcom ‘The Fresh Prince’ has taken thousands of fans by surprise. Although the original show was a comedy, the new ‘Bel Air’ show takes a darker, more intense take on ‘The Fresh Prince’.

Here are some of the key differences between the two shows, and how they compare to each other.

The reboot, which was inspired by a fan-made trailer of what ‘The Fresh Prince’ would look like today, takes the original sitcom to dramatic heights. One of the main differences is the newer shower digging deeper into Will’s past, and explores his life back in Philadelphia. ‘Bel-Air’ gives viewers a significant reason for his leaving Philadelphia; he was involved in a gunfight which led to a gang leader threatening him. This forced Will to leave Philadelphia and move in with his uncle and aunt in Bel-Air.

Another key difference between ‘Bel-Air’ and ‘The Fresh Prince’ was how Carlton is/was portrayed. In the original show, Carlton was a harmless character, however, in the reboot, Carlton is one of the antagonists. In the first few episodes, Carlton is intent on embarrassing Will, as he humiliates him in front of the entire school. Carlton also becomes incredibly jealous about Will and his uncle Philip Banks’s relationship, because Philip is his actual father.

All in all, the newer, more dramatic version of ‘The Fresh Prince’ has major differences from the original show. Carlton becomes an antagonist and the show digs deep into Will’s previous life back home. The show was criticized by fans at first, claiming that it was unnecessary for one of the most influential shows of all time to be remade. However, after a few episodes, fans quickly realized how different the show was, yet equally as enjoyable.

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