Why Sukok bond is a terrible thing

A business man can walk into any commercial bank armed with all necessary paper work and get a loan.

It's that simple.

A conventional commercial bank is only interested in you repaying the loan and interest.

The commercial bank will not be a part of your company.

They will not own any equity in your venture and neither will they partake in any form of profit sharing.

The interest rate in Nigeria can be a b!tch but other than that you are rest assured that your business is yours only.

Now consider the Sukok loan.

The Sharia bank will have a share of your company and will partake in profit sharing.

When Buhari took a loan from his Arab masters, he inadvertently sold us to them.

A huge tranct of that loan gotten from the middle-east went into oil and gas exploration.

That means under the Sukok arrangement, Saudi Arabia owns shares in Nigeria oil sector.

Now, lets fastfoward the clock a bit...

In the not so far distant future, commercial banks will be discarded in prefrence of sharia banking.

Now, lets assume as a Kafur like myself you intend to venture into pig rearing and are badly in need for some cash.

Do you think, the Sharia bank will extend you a faccility?

Don't you think it will go against their sharia code to invest in such a haramic venture?

It doesn't stop in piggery but practically any other venture that they will deem un-Islamic.

They have succeeded on the Political, Military and Legal fronts and now they are about to hit you hard with this economic warfare.

Don't be fooled.

FeloniousFelon:
Why Sukok bond is a terrible thing

A business man can walk into any commercial bank armed with all necessary paper work and get a loan.

It's that simple.

A conventional commercial bank is only interested in you repaying the loan and interest.

The commercial bank will not be a part of your company.

They will not own any equity in your venture and neither will they partake in any form of profit sharing.

The interest rate in Nigeria can be a b!tch but other than that you are rest assured that your business is yours only.

Now consider the Sukok loan.

The Sharia bank will have a share of your company and will partake in profit sharing.

When Buhari took a loan from his Arab masters, he inadvertently sold us to them.

Now, lets fastfoward the clock a bit...

In the not so far distant future, commercial banks will be discarded in prefrence of sharia banking.

Now, lets assume as a Kafur like myself you intend to venture into pig rearing and are badly in need for some cash.

Do you think, the Sharia bank will extend you a faccility?

Don't you think it will go against their sharia code to invest in such a haramic venture?

It doesn't stop in piggery but practically any other venture that they will deem un-Islamic.

They have succeeded on the Political, Military and Legal fronts and now they are about to hit you hard with this economic warfare.

Don't be fooled.

Hmmm

Religious intolerance is what brought us to this stage

Grow up man

Time will tell

sarrki:


Hmmm

Religious intolerance is what brought us to this stage

Grow up man

You can bend all you like and take it up where the sun doesn't shine - its your choice.

But what you shouldn't do is to expect every one to do same.

hell no