Ngubong Engineering and Contracts.
(Commercial Industrial and Engineering) Consultants
Where can I study islamic finance?
1) www.ethicainstitute.com. Find out here.
2) Just open google and type islamic finance . You can either type studying islamic finance, or islamic finance institutions to interact with one.
3) One international organisation which sets the standards in islamic finance and banking is The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).Please check them out here.
If you want your community, your congregation, your association, your NGO, your political party or your business organisation to know more about islamic finance, we are more than willing to help.
We also write islamic contracts and smooth out everything between the investor and finance user. Below are some examples of islamic contracts we have written. For obvious reasons the names of the various parties have been altered. The documents below are diminishing Musharakah contracts in English and French pdf and word format. This contract was implemented to the end. See the accounting in the excel files below.
Below are examples of Mudaaraba contracts.First in pdf, then in word format.
Now let us look at other books which can help you understand islamic finance better.
The document to the left shows how when the gold standard which ensured a high demand for the us dollar was stopped in the 1970s, because of extensive abuse (ie printing money without any gold barking), petroleum was used to ensure a high demand for the us dollar, thus giving the USA the permission slip to just print money and use it. People in other parts of the world like Africa are thus just working for them in such an unfair system. They only need some paper, ink and a printing press to print and steal away all the resources of the world. The document
Le document a droit [le franc CFA et l'Euro contre l'Afrique montre le system de double exclavage que suibisent les payees francophone en Afrique.
The francophone African countries are subject to double slavery, because their money is managed by the French treasury taking a big chunk of the action. We are talking about hundreds of billions. The former president Jacque Chirac rightly said that “most the wealth of France was from Africa and if they didn’t put some of it back, Africans might wake up”. They can’t always maintain control by pushing Africans to fight each. More and more eyes are opening. What happens is when the Americans print the money and come and buy cocoa for example, the francophone African countries now have to take the foreign currency to the boss in France who on inspection will now print CFA notes for the Africans. A system apparently used by Germany during the second world to exploit conquered territories.
The document to the left [Silent weapons for quite wars in top, and the confessions of an economic hit man by John Perkins below to the left.] This book shows a great secret. That is the same mathematical principles and equations used to handle physical energy can also be used to handle social energy. It also reveals that energy both physical andsocial can be used to dominate and control the world. A fact which explains the constant wars over energy resourses in the world all through history. The second book by a former western agent shows how the financial riba system is used to enslave huge parts of the world.
The document to the right [what is Riba on top and the protocols of the elders of sion at the bottom.] The first document gives a brief summary of what riba is.The protocols of the elders of Zion: this shows how all of human history has just been a series of manipulations of the masses by a minority elite. However there is no such thing as a people or group of humans who are either all bad or all good. So don’t buy into the Jewish etiquette in the book. That was obviously to lead people in the wrong direction. The Jewish people just like all other people, have got good and bad among them.
Below are some other books which can help shed more light on islamic finance. First left is a handbook on how to evaluate and pay zakat followed by president Obasanjo's speech. Then on the right this book shows how money can be used to enslave. This is followed by a book on Venture Capital in islamic finance. The painting below right is Amschel Bower Rothschild, below that are five of his children who took over the money supply of European countries and left is one of his sons Nathan Rothschild who bought the bank of England.
Did you know that congress man Ron Paul, Alan Grayson, and Bernie Sanders audited the FED and found that between 2007 and 2010 the FED lent 26 trillion dollars (twenty six). Money they created from nothing. Below is a stack of 100 dollar bills amounting to fifteen trillion dollars. Twenty six trillion dollars will be wider than a football stadium and higher than the statue of liberty which has a height of 93 meters. (305 feet).
In the world we live in now, riba has brought about physical slavery in the form of dictatorships which physically tie people down,physical slavery of a bio-chemical nature through the big pharmaceutical corporations which are steadily collect people earnings all over the world, physical slavery of a biological nature through diseases spread by various means. As if that is not bad enough, there is economic slavery in that while the majority of people in the world work and sweat, a small minority just sits around and prints money. These days they just write a cheque in a process called quantitative easing. About 1,300 companies control 80% of the wealth of the world. There is cultural slavery introduced against people's will through colonialism and then maintained through poppet political systems, religion and the media. What causes and maintains cultural slavery also maintains psychological and intellectual slavery. The latter is further re-enforced by the educational system implanted through colonialism. Let us stop playing the victim, throw off fear and take our responsibilities so that by the time my daughter below is in an active live, the world will be experiencing unconditional universal love for each other and for nature. We should have given up the competition paradigm and embraced collaboration. We be using more efficient and less corrosive energy systems which respect the well being of mother earth. We would heal ourselves with plants, crystals, meditation and electromagnetic methods. Humanity would be one race collaborating with our brothers from beyond.
Money is mentioned in the Qur'an twice. As dinar (meaning a gold coin see Q3:75), and Dirham (meaning a silver coin, see Q12:20). The early muslims at the time of the prophet Mohammed (saw) used money with intricique value. There was no Babylonian money magic. Let us not make Gadaffi's sacrifice of himself and his prosperous nation be in vain. watch the videos below and read my book "The face of riba today" or " La face du riba aujourd'hui". You can download from the internet or go to the islamic books section of this site. Or scroll to the bottom of this page and click on the pdf icon of my book in your prefered language. English on the left and French on the right.
What is the islamic Dinar and Dirham? The definitions are rigorous
According to Islamic Law...
The Islamic Dinar is a specific weight of 22k gold (917.) equivalent to 4.25 grams.
The Islamic Dirham is a specific weight of pure silver equivalent to 2.975 grams.
How are the Islamic dinar used?
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The Islamic Dinar can be used to save because they are wealth in themselves.
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They are used to pay zakat and dowry as they are requisite within Islamic Law.
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They are used to buy and sell since they are a legitimate medium of exchange.
Using the Dinar and Dirham
Gold and silver are the most stable currency the world has ever seen.
From the beginning of Islam until today, the value of the Islamic bimetallic currency has remained surprisingly stable in relation to basic consumable goods:
A chicken at the time of the Prophet, salla'llahu alaihi wa sallam, cost one dirham; today, 1,400 years later, a chicken costs approximately one dirham.
In 1,400 years inflation is zero.
Could we say the same about the dollar or any other paper currency in the last 25 years?
In the long term the bimetallic currency has proved to be the most stable currency the world has ever seen. It has survived, despite all the attempts by governments to transform it into a symbolic currency by imposing a nominal value different from its weight.
Gold cannot be inflated by printing more of it; it cannot be devalued by government decree, and unlike paper currency it is an asset which does not depend upon anybody's promise to pay.
Portability and anonymity of gold are both important, but the most significant fact is that gold is an asset that is no-one else´s liability.
All forms of paper assets: bonds, shares, and even bank deposits, are promises to repay money borrowed. Their value is dependent upon the investor's belief that the promise will be fulfilled. As junk bonds and the Mexican peso have illustrated, a questionable promise soon loses value.
Gold is not like this. A piece of gold is independent of the financial system, and its worth is underwritten by 5,000 years of human experience.
We must understand that although the dinar and Dirham are defined only in terms of gold and silver, other commodities such as dates, wheat, barley were used for commercial exchanges during the time of the prophet. As a matter of fact he regulated these exchanges by ensuring that commodities of the same type and precious metals of the same type were exchanged in equal amounts. (Riba al-fadl). However the world is not static, so if we were to try to implement such an ethical system, we must realize that the number of precious metals are more numerous today. we've got gold, silver, platinum, tantalum, copper, cobalt etc. Our new reality must reflect that.
We Muslims should be very active with the others to implant and economic and financial system which does not enslave mankind. Many people are trying, for instance bitcoin and other ethical financial proposals. To find out about the history of islamic finance click here. To save and trade with islamic currency only and exclusively go here.