 the collateral to obtain a loan from regular banks. The fascinating aspect of this system is that it’s honor based. Individuals that receive loans are expected to pay them back by the goodness of their heart.
Do yourself a favor and read more about this fascinating individual. While I haven’t scratched the surface, I hopefully sparked your interest :)
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November 20th, 2006 at 12:58 pm
wow, that’s a good idea, from humanitarian viewpoints.
Really, we need more people like this man.
But, correct me if i’m wrong, I thought muslims don’t do loans?
seriously though, that could only work in Indonesia, or central africe. Try that in Europe or the US and you can wave byebye to your money.
The guy does have a point though, There wouldn’t be so much debt in the USA if the people had to meet whoever they borrowed money from every month, and tell and explain why they don’t have the money to pay them back.
November 20th, 2006 at 2:01 pm
I read about this guy when he won his nobel prize.
definitely not a freak. He’s someone I admire and envy. If he’s religious, he makes his religion look good.
thanks for sharing his story.
November 20th, 2006 at 7:17 pm
Alcari,
You can loan somebody money, but you can’t take interest or usury for this money, I think a lot of people would be better off with system like that, but on the other side you have to know the rest of the story, that in Islam, you have to pay all your debts off before you die, and if you couldn’t and you lready died, one of your family should pay off your loan, so we are really careful to get our debts off.
Let me know if you need more clarification.
Thank you,
November 21st, 2006 at 4:16 am
He is truly a brilliant man, well deserving of his Nobel prize.
November 21st, 2006 at 6:29 am
That is the kind of men we always want. They are kind enough to help others who are in need of help. We need such kind of people really. I hope to have such people accross the world for they are kind and ready to help the poor.
November 21st, 2006 at 11:30 am
This man holds to such a great ideal. Religious or not, this man definately gained humanism points with the comment of “I think if you are poor, you should be getting the first priority.”
Making the world a better place for your fellow humans is the best thing anyone can do.
December 5th, 2006 at 5:50 am
i am from bangladesh. dont know if he is religious in heart but he certainly pretends he is. but in a country with more than 80% muslim you can not achieve anything if you publicly doubt religion.
but this is for sure, radical mullahs and imams publicly has condemned him for mostly giving loans to poor women. its hard for them to see women empowering themselves.
January 7th, 2007 at 2:31 pm
Muslims have different system of loaning,
Qurze-E-Husna.
Musharka.
Muzarba.
in the first one you get a loan and pay when ever it is convenient to you with no interest, in some cases there is no time limit. In case of second and third types there is not a big difference, they are a form of trust which is developed between the lender and borrower. The relationship between them is sort of a partnership. Different rules and clause applies in both cases. Any ways in both cases lender and borrower share the profit and lose on agreed terms. This type of system is widely available in Europe as well, through Islamic banks and some European banks.
February 17th, 2008 at 6:46 am
Radical mullah, imams, and the like who profess to be Islamic and to represent Muslims and Islam at large are simply hypocrites (most of them). Because Islam does not have the concept of clergy, there is no intermediary between the believer and God. As for the status of women in Islam, I believe Islam is the most acceptable faith for our better halves compared to Christianity, Judaism or Hinduism and other religions. For one thing, the first human being to accept Islam was Khadeedja, Muhammad’s 1st wife and very wealthy merchant. Secondly, Islam grants women substantial property rights and political freedom. Unlike Chritianity and Judaism, Eve is not created from Adam’s rib but a person unto herself and is not responsible for the original sin (there’s no such thing in Islam). Most of the converts today are also women. So when you watch foxnews telling you Bin Laden is a true Muslim and all Muslims are terrorists because Islam preaches it, think again. It is individuals like Muhammad Yunus who truly represent Islam. Peace.
February 17th, 2008 at 10:01 pm
“As for the status of women in Islam, I believe Islam is the most acceptable faith for our better halves compared to Christianity, Judaism or Hinduism and other religions.”
Umm yaaarrr ok. No one would say that the other religions have been great to females, but you’re a tad delusional if you think islam is in general fair to women.
Ultimately, who cares about whos story is nicer toward women? You tell me that the women who get beaten up for showing some wrist while driving a car, who get prevented from studying, who arent allowed to talk to a man who isnt a relative, who must cover up for fear of inciting lust in a man, who has her clitoris removed etc etc etc that they have it better than if they were in another religion right now!