Goke7:


the guy is right bruv, the church too can come up with a more humanitarian system of banking instead of following the ways of the world, this is why Islam continues to woo so much influence in our world today. The church need to change tactics or continue to face more difficult questions to answer

Ebonyi and nearly all the people posting here are not exposed. The IBOs complained of Nigeria's membership of OIC - Organization of Islamic Countries now called Organization of Islamic Cooperation, yet you don't know Islamic Development Bank belongs to OIC. A street hustler in Dubai who does not know the difference between a Multilateral International Financial institution and Microfinance Bank wrote an epistle since yesterday, nobody can lecture him. African Development Bank, AFC, World Bank and several others are multilateral agencies serving their member nations, you cannot compare their operations to a Microfinance Bank.

The Ibos are benefitting from OIC they should keep their mouth shut.

BananaPeel:
.
I think a lot of people are out of tune with what the church is about. The Islamic loan system was established by the govt of such countries who are 99.9% Moslems. [/b]It's a good system no doubt. The microfinance bank your dad borrowed money from owned by the church operates a system I believe is guided by the CBN(govt) lending acts or what have you but it's the church that takes the knock.
[b]So, because your dad is a member of the church, the loan should be written off? Did he not see TCs before he took the loan?
Our govt. should do the needful and we should stop blaming churches for the inefficiency of our govt.

The Islamic banking system is based on Sharia law.

"And if the debtor is in difficulty, give him respite till the time of ease; and your foregoing the entire debt from him is still better for you, if only you realize"
Qur'an 2:280

The point is let's have mercy on each other. Because he's a member of the church is enough reason to give him a respite.

Zeinymira:


The Islamic banking system is based on Sharia law.

"And if the debtor is in difficulty, give him respite till the time of ease; and your foregoing the entire debt from him is still better for you, if only you realize"
Qur'an 2:280

The point is let's have mercy on each other. Because he's a member of the church is enough reason to give him a respite.

.
That isn't a bad idea, it's the way people keep hammering churches for their own shortcoming or the govt. ineffectiveness. We don't know how people will loose their jobs in that mfb if they keep writing off people's debt.
Islamic Banking have funding most assuredly from the govt. of such nations. But what funding does that mfb(private) have from the govt?
There are many factors to be considered though. We should not just criticize and run emotions.