tag:blogger.com,1999:blog-68829812506485378462024-03-12T17:11:42.208-07:00Blind EyesBushrahttp://www.blogger.com/profile/00029997256235255667noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6882981250648537846.post-49616341681637776632013-05-14T10:48:00.002-07:002013-05-14T11:58:04.400-07:00Everyone Asks Where did Tsunami Go?<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div align="center" class="MsoNormal" style="text-align: center;">
<br />
<div align="center" class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal">
I am Surprised if any
one cannot see Tusnami even by now </div>
<div class="MsoNoSpacing" style="line-height: 115%;">
Tusnami is everywhere, at all
places ………..</div>
<div class="MsoNoSpacing" style="line-height: 115%;">
The rigging and echoes of unfair elections
have amplified the impact of tsunami all over the country </div>
<div class="MsoNoSpacing" style="line-height: 115%;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Pakistan is a dynamic country;
every region and province having a different kind of dynamics, at some places feudals
rule at other places the fear factor and in some regions it is the kinship and biradari
system that works…..</div>
<div class="MsoNormal" style="text-align: justify;">
Pakistan Tehreek e Insaaf (PTI) emerged
as a party with a National Agenda without any regional slogan. Tusnami party rejected
politics of inheritance; superficial economic growth, flawed, inadequate and a
confused foreign policy. Not undermining the premise that worsening economic environment
and poor law and order situation also helped the party to gain its popularity
all across the country. This is the first time that the country saw a party
with the intermediate stance between left and right wing; The left wing of this
country should not forget that majority of this country are practicising
Muslims and desire to have policies reflective of their sentiments ; that’s the
new reality of this country they should accept instead of referring to decade
of 60’s and 70’s again and again, on the other hand the extreme right wing
should acknowledge that this country is a country of Muslims not where religion
can be used only to fool people. The Country has Awaken now…….</div>
<div class="MsoNormal" style="text-align: justify;">
The awakened nation has shown
their presence in every province/region in accordance to its own cultural
dynamics. In KPK; following its tradition rejected the poor performance /governance
and gave a clear mandate for the change to a new party , PTI. In Karachi
(Sindh), apparently MQM won seats but here the change has shown itself in its own
manner ; unexpectedly MQM was given a tough time by PTI and despite all rigging
and unfairness even in MQM dominated constituencies, PTI candidate got considerable
number of votes, averaging 30 thousand. Coming to Punjab, PPP was fully washed
out and Tusnami emerged as a second big power (here the rigging was quite well planned
with the help of establishment and our own dear army) and in Baluchistan, the
situation is still not clear.</div>
<div class="MsoNormal" style="text-align: justify;">
BUT the true reflection of this Tusnami
was in peaceful sit-ins in Karachi and Lahore on the very next day of elections.
While talking to my brother on Election evening (who is a diehard supporter of
PTI) he discussed that PTI is in bad situation for the fact that there had been
rigging and also the fact that the party Chairman was in hospital, so may be
nothing could be done. And the very next day people were amazed with the way PTI Tusnami was on roads in different cities protesting
against unfair elections . Karachi for sure I know that this protest of the
very second day was not demanded by the party rather the supporters themselves
gathered and protested against the corrupt system </div>
<div class="MsoNormal" style="text-align: justify;">
Hats off to them….</div>
<div class="MsoNormal" style="text-align: justify;">
Hats Off to their courage to resist
the wrong …….</div>
<div class="MsoNormal" style="text-align: justify;">
Hats off to PTI for involving
youth in the democratic process …….. </div>
<div class="MsoNormal" style="text-align: justify;">
PTI/Imran's Tusnami does not need
to be in lower and upper houses…….</div>
<div class="MsoNormal" style="text-align: justify;">
PTI Wanted To Empower The Youth
With Democratic Awareness.......</div>
<div class="MsoNormal" style="text-align: justify;">
That’s The Change Imran Wanted To Bring And
That’s What Everybody Can See Now.......</div>
<div align="center" class="MsoNormal">
<b>TUSNAMI IS HERE<o:p></o:p></b></div>
<div align="center" class="MsoNormal">
<b>Three cheers for PTI & Three Cheers for Imran Khan <o:p></o:p></b></div>
</div>
</div>
Bushrahttp://www.blogger.com/profile/00029997256235255667noreply@blogger.com1tag:blogger.com,1999:blog-6882981250648537846.post-51208521566262426472012-02-03T04:29:00.000-08:002012-02-03T04:30:41.814-08:00Islamic Banking - Mindset<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<b><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">A
while back I was invited to a dinner party at one of my friend’s place in
Karachi. That was one of my cheerful days as my whole gang, my buddies were
there at that lunch-cum-dinner party. Whenever we all are together , “one” has
to be the centre of attention but mind it being such centre of attention
means quite a game of nerves and patience because all of us just pull leg of
that centre of attention one way or other . I was that lucky centre of
attention that day because of my very recent inclination and interest on
Islamic banking. <o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><span style="font-size: 12pt;">All
my friends present at dining table were one way or other linked with financial
sector and I’m quite proud of their competencies, professional excellence and rationality.
Though I knew that all of them were not convinced with Islamic banking, however
their discussion /criticism that day was surprising and an eye opener for me. Questions
like Islamic Banking is</span><span style="font-size: 7pt;"> </span><span style="font-size: 12pt;">just
a new way of these Mulanas to mix religion with everything to have their
mass popularity, that Islamic Banking is a new way of exploitation by Mulas and
that </span><span style="font-size: 7pt;"><span style="mso-spacerun: yes;"> </span></span><span style="font-size: 12pt;">Islamic
Banking doesn’t even fulfill the definition of banking. I realized that if
people educated, exposed and reasonably faith sensitive (most of them) were
criticizing IB then how masses would perceive this new banking system?<o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><span style="font-size: 12pt;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">I
tried to clarify queries of my friends with my limited knowledge that like
other economic and financial system, Islamic Economics/banking is a system that
has got its unique characteristic and can be considerably different from all
other prevailing systems. So even definition of banking can vary among
different economic systems. I agreed then and still admit now that there are
many problems and issues in practical implementation of this new financial
system, but one would easily agree and accept the practicality, soundness and
stability of the system if one thinks rationally and logically.<o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">I
sometimes fail to understand that why people forget the usual process of evolution
and transformation to better systems when the older ones faced problems
resulting into severe negative consequences. Even for economic systems, the
world has seen various systems over different time periods, while improvements
were made in each one of them following a crisis, the inherent weaknesses of
these structures made them vulnerable during adverse economic conditions.
Capitalism and Socialism have remained the two most prominent economic systems;
we have seen them being implemented with various modifications however they
have not been able to address basic economic evils resulting in often occurring
financial crisis<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><span style="mso-spacerun: yes;"><br /></span></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><span style="font-size: 12pt;">The</span>
<span style="font-size: 12pt;">significant variation in basic
features of Islamic finance from its conventional counterparts depicts it as more
sound and</span> viable.
Prohibition of Riba, Risk sharing, Asset Backing and Avoidance of Speculation
of Islamic financial system ensure the positive impact of Islamic economic
system. To make it more explicit I would like to mention some key
distinguishing features between Islamic banking and Conventional banking <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-left: .5in; tab-stops: 402.0pt; text-align: justify;">
</div>
<ul>
<li><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">Conventional
banking prices money while Islamic banking prices goods and services implying
that Islamic banking supports real economic activity leading to overall
economic well-being of the society by redistribution of wealth</span></li>
<li><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">Conventional
banking is based on fixed returns while profit sharing is an essential element
of Islamic banking for both asset and liability side of balance sheet</span></li>
<li><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><span style="mso-spacerun: yes;"> </span>Conventional banking works on the principle of
risk transferring as it does not involve itself in trade and business while all
participants of Islamic banking participate in trade and business and therefore
all share the risk.</span></li>
<li><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">More
stringent requirement of disclosure in Islamic banking as compared to
Conventional banking make them less prone to financial fraud and crime.</span></li>
</ul>
<br />
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">However,
still, Islamic Economic System is not as appealing as it should be even after
multiple crisis of conventional system. One bitter realization that I had over
that lunch discussion regarding the low acceptability of Islamic banking among
masses is its “name”. A big majority including my “religiously” enlightened
friends would have accepted this system wholeheartedly if there would have been
a name other than Islamic banking. Replacement of this name of Islamic banking by
any other name could have earned much greater acknowledgment and acceptability
for the system. <o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">So,
It’s not only about Non-Muslim world, it’s a MINDSET which is not ready to
accept this system. That mind set is the biggest challenge, a great impediment
towards the growth of this industry. <o:p></o:p></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-size: 12pt;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">I
am absolutely not a religious person; rather my friends make fun of me
indicating the conflict between my appearance and my inclination towards
Islamic banking. My faith sensitivity has not driven me towards this system; I
accidently got the opportunity to work for Islamic banking. Trust me the more I
read and the more I get the comprehension of the subject I get more convinced
with the sustainability of this system. <o:p></o:p></span></span></div>
<div class="MsoNormal">
<span style="font-size: 12pt; line-height: 115%;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-size: 12pt; line-height: 115%;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;">My growing interest in this new banking system
and my recent debate on these issues have made me initiate this blog
which will have discussion and explanations on Islamic banking and for some
time I will be posting about different aspects of Islamic banking. However, my
blog is not just about changing the mindset with regards to Islamic banking but
will encompass my personal experiences related to any area worth sharing. </span></span><span style="color: #0f243e; font-family: "Trebuchet MS","sans-serif"; font-size: 10.0pt; line-height: 115%;"><o:p></o:p></span></div>
</div>Bushrahttp://www.blogger.com/profile/00029997256235255667noreply@blogger.com11