Islamic finance has proven successful in poverty alleviation and promoting sustainable growth in many countries, including the United States, and it is very relevant in our country where 20 million people are starving. ― Justice Krishna Iyer.
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Here is the wise Islamic finance quotes collection
1. Islam is not only concerned with the relationship between man and God but it is also a system of beliefs, justice, equity, fairness and morality, these being the values that underpin the entire Islamic way of life. These beliefs are governed by the body of Islamic principles generally referred to as Sharia’a, which is, not surprisingly, the basis for the creation of Islamic financial products. ― Brian Kettell
2. Islamic Finance is about ethics, integrity, accountability, and social responsibility, it encourages business and entrepreneurship purely on profit and loss sharing basis and completely prohibits fixed incomes. Sharing of risk and returns by Investors and Entrepreneurs is an integral crux of Islamic finance. ― Mr. Imtiaz Merchant
3. Islamic banking is for all mankind and not a push for Islamic laws, the fact that you are seeing it in the media now is not because Muslims are pushing it, it is because it makes sense. ― Dr Sheik Ziyaad Muhammad
4. Our strength in finance has led us to set up an international financial centres with medium and long-term objectives, especially to develop Islamic financial and insurance services. ― Hassanal Bolkiah
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5. If you invest in Islamic finance products, you tend not to be sensitive to developments in interest rates. ― Fars Mourad
6. It is time we have a move from individuals to institutions. It could be a global shariah board… The reason is people deal with you on international standards. You have to have the right standards. ― Adnan Yousif
7. Accordingly, under Islam, either people invest with risk or suffer loss by keeping their money idle. Islam encourages the notion of higher risks and higher returns and promotes it by leaving no other avenue available to investors. The objective here is that high-risk investments provide a stimulus to the economy and encourage entrepreneurs to maximize their efforts to make them succeed, with appropriate benefits to the community. ― Brian Kettell
8. Conventional commentators describe the industry as “banking without interest” but the fundamental differentiator is the nature of money itself. In Islamic economic theory, money is merely a medium of exchange, not a commodity to be traded. It has no intrinsic value. Financial transactions must have an underlying attachment to the “real economy”. Real assets must be bought and sold as opposed to the trading of intangible pieces of paper. ― Harris Irfan
9. In Islamic banking, there is no black box that needs a genius to unwind it. Many of these conventional products that have been under stress lately are very complex and need special risk management tools. In Islamic banking you will not have this kind of thing. Some of these products would not be sharia accepted. ― Rasheed Al Maraj
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10. The credit crisis has good parts and bad parts. The good thing is that valuations are becoming more reasonable now. ― Atif Abdulmalik
11. We need to have basic standards. In Malaysia there is a uniform shariah board. We have a wonderful opportunity here, because nobody has done it. We need a sharia reference for the whole industry. ― Nasir Alshykh
12. Everyone has this impression that Islamic finance is this pot of money with nothing better to do than just to throw money at everything. But that is far from the truth. Islamic investors are sophisticated people who know the market, know where spreads are. It is a misconception that it is easy to get money from there. ― Barclays capital
13. The level of awareness has definitely changed in 12 months, still there is a long way to go. The key thing will come when we get the documentation and the structuring streamlined and have some sort of regulatory body. ― Shafqat Malik
14. So we want an Islamic state where Islamic law is not just in the books but enforced, and enforced with determination. There is no space and no room for democratic consultation. The Shariah is set and fixed, so why do we need to discuss it anymore? Just implement it!. ― Abu Bakar Bashir
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15. The Gulf War is responsible for the huge and horrifying rise in Islamic terrorism. ― Pierre Salinger
16. There are regulatory differences – there is no one basic regulatory environment across geographies that manages Islamic banking today. I think that is one of the fundamental pieces that needs to be addressed in order for the true potential of Islamic banking to be realized. ― Asif Mumtaz
17. This is a good time to ask apologists for the Islamic regime, who degrades Islam? Who imposes stoning, forced marriage of underage girls and flogging for not wearing the veil? Do such practices represent Iran’s ancient history and culture, its ethnic and religious diversity? Its centuries of sensual and subversive poetry? ― Azar Nafisi
18. The condition of women in Islamic societies as a whole is also far from desirable. However, we should acknowledge that there are differences. In certain countries, the conditions are much better and in others much worse. ― Shirin Ebadi
19. In the early centuries of Islam, the great schools of Islamic jurisprudence were built upon the above principles. Basic to all their legal systems they developed the doctrine that liberty is the fundamental basis of law. ― Aly Khan
20.There is a feeling that the way Islamic finance is structured – the lack of freedom in leveraging, the need for real assets — that there will be some who will find Islamic financing interesting. ― Nor Mohamed Yakcop