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What Does SUKUK Mean? (Pictured) - Travel (3) - Nairaland

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Re: What Does SUKUK Mean? (Pictured) by virginchaser(m): 11:35am On Dec 18, 2023
This has given us access to Benin city.
Re: What Does SUKUK Mean? (Pictured) by GoodRocks: 11:49am On Dec 18, 2023
talk2hb1:
I am always amazed how some Nigerians displays their absolute Hatred and Disdain for Islam and Muslims, I am yet to understand is it out of ignorance or they are just being fagg0ts.

Islams and Muslims are considered Terrorists in every corner of the world. This is exactly why Americans hate Islam and Muslims with so much passion

1 Like

Re: What Does SUKUK Mean? (Pictured) by Banjoramos(m): 11:53am On Dec 18, 2023
Sukuk Means Bond that generates revenue from sales, profits, or leases rather than interest.
Re: What Does SUKUK Mean? (Pictured) by Successlane: 11:55am On Dec 18, 2023
talk2hb1:
I am always amazed how some Nigerians displays their absolute Hatred and Disdain for Islam and Muslims, I am yet to understand is it out of ignorance or they are just being fagg0ts.

It's ignorance, hypocrisy and bigotry all wrapped in one in their brains.

Go to these Islamic nations and see how the kinsmen of these Islam haters flood everywhere, doing all manners of job to survive.

2 Likes

Re: What Does SUKUK Mean? (Pictured) by talk2hb1(m): 11:57am On Dec 18, 2023
GO0DHardDick:


Islams and Muslims are considered Terrorists in every corner of the world. This is exactly why Americans hate Islam and Muslims with so much passion
Media Prosecution!
Re: What Does SUKUK Mean? (Pictured) by BreconHills(m): 12:02pm On Dec 18, 2023
Hananfine:


You don't need to reply this guys . Hatred is in their blood naturally

Too true

1 Like

Re: What Does SUKUK Mean? (Pictured) by RepoMan007: 12:11pm On Dec 18, 2023
cool
osmosis101:
Its an ARAB LOAN with no or less interest
I wonder why the hypocritical dictator didn't opt for this loan before enslaving his children to IMF and WB.
Re: What Does SUKUK Mean? (Pictured) by meum: 12:11pm On Dec 18, 2023
Decarbonisation:


But them fit loot am she, or draw down on it under the pretence of doing infrastructure project, and not do the project? grin
E Dey dia body. Itโ€™s not supposed to be so as Islamic financing doesnโ€™t support such
Re: What Does SUKUK Mean? (Pictured) by LyfeJennings(m): 12:13pm On Dec 18, 2023
GerogeI:
SUKUK is what happens when your country stupidly elects a religious bigot, who happens to be from your neigbouring country as leader. He builds no roads, rather erects religious symbols all over the place with 0.5km asphalt. Then tries to build a railway to his real country. Hacks election to hand over to another foreigner. Its a country for cattle, an animal farm of sorts.

U JUST PROVED HOW MUCH OF AN ILLITERATE U ARE
Re: What Does SUKUK Mean? (Pictured) by meum: 12:14pm On Dec 18, 2023
Quranisforfools:
Sukuk is not interest free, otherwise the Islamic bank which gave the loan will collapse.

What they do is charge interest, but they call it by another name.

Instead of calling it interest, the Islamic bank calls it a rental. The construction project be it a road or a housing estate belongs to the Islamic Bank and you become their "tenant". They'll start charging you "rent" at incremental rates which for all intents and purposes, is virtually indistinguishable from the interest charged by commercial banks.

The only difference is that while commeecial banks may charge compound interest (known as Usury), Islamic banks, on paper, are not supposed to charge anything more than simple interest. But the reality is, many of them do, even in Saudi Arabia.

Thatโ€™s it. They call it interest free but the rental part is how they make money from the loan

1 Like

Re: What Does SUKUK Mean? (Pictured) by Dejijossy(m): 12:15pm On Dec 18, 2023
You see the post at any project executed with Arab bond/loan. They offered interest free loan to Nigeria.
Re: What Does SUKUK Mean? (Pictured) by Omoluabi16(m): 12:21pm On Dec 18, 2023
Islamic finance...
Re: What Does SUKUK Mean? (Pictured) by firearcher: 12:35pm On Dec 18, 2023
GerogeI:
SUKUK is what happens when your country stupidly elects a religious bigot, who happens to be from your neigbouring country as leader. He builds no roads, rather erects religious symbols all over the place with 0.5km asphalt. Then tries to build a railway to his real country. Hacks election to hand over to another foreigner. Its a country for cattle, an animal farm of sorts.

Ignorance and insanity rolled into one

1 Like

Re: What Does SUKUK Mean? (Pictured) by Raheeqilmaktoom: 2:09pm On Dec 18, 2023
talk2hb1:
I am always amazed how some Nigerians displays their absolute Hatred and Disdain for Islam and Muslims, I am yet to understand is it out of ignorance or they are just being fagg0ts.

Whats even more saddening is the people displaying an open and an intense level of ignorance. Imagine someone that does not know what bonds are is criticizing interest free bonds and a horde of illiterates are egging him on.

Tradgedy of a people and tomorrow, these same people will be on front row of "they use religion deceive them" choir.

1 Like

Re: What Does SUKUK Mean? (Pictured) by Allisgud: 2:10pm On Dec 18, 2023
Which means any project they use the money for,a big sign board will be erected their
Re: What Does SUKUK Mean? (Pictured) by LagosG: 3:14pm On Dec 18, 2023
talk2hb1:
I am always amazed how some Nigerians displays their absolute Hatred and Disdain for Islam and Muslims, I am yet to understand is it out of ignorance or they are just being fagg0ts.
Don't mind them. They've been configured to think like that. They happily spend Naira with Arabic inscription
Re: What Does SUKUK Mean? (Pictured) by okorogodwin4(m): 3:41pm On Dec 18, 2023
Sukuku is an Islamic way of looting money
Re: What Does SUKUK Mean? (Pictured) by U09ce: 3:52pm On Dec 18, 2023
Islamophobes everywhere!

1 Like

Re: What Does SUKUK Mean? (Pictured) by Expanse2020(m): 3:54pm On Dec 18, 2023
We know your problem if you want to challenge them(islam) provide something similar....gather your sect leader to do the same to help countries if you can't do it stop making false note on the SUKUK
Re: What Does SUKUK Mean? (Pictured) by Quranisforfools: 4:26pm On Dec 18, 2023
I know the truth is painful to you in the same way disinfectant is painful to bacteria, but wether you like it or not, everything I said is true.
If you don't believe me, go and ask any Islamic banker you know and if he is honest, he will cure your ignorance.

Emu4life:

Biased gibberish statements as usual. Who takes a drunkard seriously
Well, may be fellow drunkards grin grin
Re: What Does SUKUK Mean? (Pictured) by Quranisforfools: 4:37pm On Dec 18, 2023
This is the problem when you can't call a spade by its name.

Islamic banks can refer to their own interest as either "rent" or "profit sharing", it makes no difference because it works exactly the same way as interest.

No bank will last longer than a year in business if it doesn't charge interest because interest guards against phenomenon like loss of currency value and inflation.

For example, in cases of property purchase, known as home mortgage commercial banks will charge about 6% interest.

But if an Islamic bank enters into a mortgage with you, it buys the house and begins renting it to you. You become their "tenant". They'll start charging you "rent" at incremental rates which for all intents and purposes, is virtually indistinguishable from the interest charged by commercial banks.

The only difference is that while in some cases commercial banks may charge compound interest (known as Usury) especially if the property is being used to carry out a business, Islamic banks, on paper, are not supposed to charge anything more than simple interest. But the reality is, many of them do, even in Saudi Arabia.


Raheeqilmaktoom:


Whats even more saddening is the people displaying an open and an intense level of ignorance. Imagine someone that does not know what bonds are is criticizing interest free bonds and a horde of illiterates are egging him on.

Tradgedy of a people and tomorrow, these same people will be on front row of "they use religion deceive them" choir.
Re: What Does SUKUK Mean? (Pictured) by Emu4life(m): 4:45pm On Dec 18, 2023
Quranisforfools:
I know the truth is painful to you in the same way disinfectant is painful to bacteria, but wether you like it or not, everything I said is true.
If you don't believe me, go and ask any Islamic banker you know and if he is honest, he will cure your ignorance.

I'm an Islamic Banker and I say you are wrong. Stop propagating false hood.
Re: What Does SUKUK Mean? (Pictured) by Quranisforfools: 5:19pm On Dec 18, 2023
Must you keep on lying? You're an Islamic banker and you don't even understand the fundamentals of Islamic banking?๐Ÿคฃ๐Ÿคฃ๐Ÿคฃ

Emu4life:

I'm an Islamic Banker and I say you are wrong. Stop propagating false hood.
Re: What Does SUKUK Mean? (Pictured) by Trophy12: 5:27pm On Dec 18, 2023
GerogeI:
SUKUK is what happens when your country stupidly elects a religious bigot, who happens to be from your neigbouring country as leader. He builds no roads, rather erects religious symbols all over the place with 0.5km asphalt. Then tries to build a railway to his real country. Hacks election to hand over to another foreigner. Its a country for cattle, an animal farm of sorts.
lol ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚ this man ,
Re: What Does SUKUK Mean? (Pictured) by splendournoni: 9:21am On Dec 21, 2023
talk2hb1:

Have you been to any of this place?
Or you are basing your information on the media report.
Get educated my brother

Humanitarian workers currently in Syria under doctors without borders... maybe you need to travel more then you will wise up
Re: What Does SUKUK Mean? (Pictured) by GerogeI(m): 9:39am On Dec 21, 2023
Tokskob2008:
I have being meaning to find out what it actually meant too and it's been skipping my thoughts....

Funny thing is majority of the roads this loan was used for are now terribly bad even worse than it were before.

This guys collected loans for constructions only for them to loot it and use the leftover change to construct rubbish roads all round.

The real objective was obviously the religious sign board, not the road. Most places you see the signboard the asphalt does not pass 0.5 to 1 km. Hence the objective was to maximize the number of religious symbols and normalise an Islamic agenda, just like herdsmen/ bandits terror are now normalized in our minds.
Re: What Does SUKUK Mean? (Pictured) by Abbey24(m): 10:44am On Dec 21, 2023
SUKUK is a non interest Islamic finance product i.e Islamic Bond, no interest rather profit sharing. It is used lately in Nigeria by federal govt. to finance capital projects, to sum it all, it is better than conventional bond and anything related to it
Re: What Does SUKUK Mean? (Pictured) by Coolgent(m): 11:01am On Dec 21, 2023
SUKUK is a Shari'a Interest Free Loan.
Re: What Does SUKUK Mean? (Pictured) by ThiagoKid(m): 1:51pm On Dec 21, 2023
GerogeI:
SUKUK is what happens when your country stupidly elects a religious bigot, who happens to be from your neigbouring country as leader. He builds no roads, rather erects religious symbols all over the place with 0.5km asphalt. Then tries to build a railway to his real country. Hacks election to hand over to another foreigner. Its a country for cattle, an animal farm of sorts.

Blood of Zachariah! grin grin grin
Re: What Does SUKUK Mean? (Pictured) by gaskiyamagana: 3:36pm On Dec 21, 2023
GerogeI:
SUKUK is what happens when your country stupidly elects a religious bigot, who happens to be from your neigbouring country as leader. He builds no roads, rather erects religious symbols all over the place with 0.5km asphalt. Then tries to build a railway to his real country. Hacks election to hand over to another foreigner. Its a country for cattle, an animal farm of sorts.
Child of history. Check some states projects financial assistance very well, some of them are using SUKUKU.
Re: What Does SUKUK Mean? (Pictured) by osmosis101(m): 7:43pm On Dec 21, 2023
RepoMan007:
coolI wonder why the hypocritical dictator didn't opt for this loan before enslaving his children to IMF and WB.

People lyk u went against it saying,dey are trying to ISLAMIZE Nigeria

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