10 Blessed Days: A New Competition (Share)

With the coming of the ten days of Dhul-Hijjah, a new competition begins between all believers who aspire for closeness to their Lord and forgiveness of their sins. These blessed days occupy a special place in the sight of Almighty Allah, as indicated in the hadith in which Prophet Muhammad (peace and blessings be upon him) reportedly said, "There is no deed more precious in the sight of Allah, nor greater in reward, than a good deed done during the ten days of Sacrifice." He was asked, "Not even jihad for the sake of Allah?" He said, "Not even jihad for the sake of Allah, except in the case of a man who went out to fight giving himself and his wealth up for the cause, and came back with nothing."(authenticated by Al-Albani) During these blessed days which combine the major acts of worship — Prayer, fasting, charity, and Hajj — a wise person cannot but seize this precious opportunity and be careful to make the most of it, so that hopefully he or she will be among those who gain Allah’s approval and win His Paradise. Out of His generosity, Almighty Allah bestows countless favors upon His servants, yet they need to receive them duly and thankfully.

Delegation met Finance Minister to discuss Islamic Banking in India

Delegation met Finance Minister to discuss Islamic Banking in India

New Delhi: In a major development today in efforts to start Islamic Banking system in India, Union Finance Minister Pranab Mukherjee assured a delegation of Indian Centre for Islamic Finance that he would soon discuss the feasibility of interest-free Islamic banking system in India with Reserve Bank of India Governor.

To discuss about the feasibility of interest-free Islamic banking in India, a delegation headed by H Abdur Raqeeb, General Secretary, Indian Centre for Islamic Finance (ICIF), New Delhi, met Pranab Mukerjee today at his home in Kolkata, and submitted a memorandum to him.

After meeting with Mukherjee, Abdur Raqeeb told “The Finance Minister went through the 3-page memorandum and keenly read the recommendations of Raghuram Rajan committee on Financial Sector Reforms - CFSR recommendations on Interest-free banking which says: the Committee recommends that measures be taken to permit the delivery of interest-free finance on a larger scale, including through the banking system. This is in consonance with the objectives of inclusion and growth through innovation. The Committee believes that it would be possible, through appropriate measures, to create a framework for such products without any adverse systemic risk impact.”

He noted down that Interest-free Banking is not only for Muslims but for all. In Malaysia 40% customers are Chinese, who are Non-Muslim and In Britain 20% of customers are Non-Muslims. He also noted Vatican has recommended Islamic finance to western Banks for its emphasis on ethical investments and being socially responsible investment and an alternative to the conventional banking.

Finance Minister was informed about the decision of the Government of Kerala which had launched an Islamic investment company with Rs.1000 crore after the feasibility report of Ernst & Young and has plan to turn it to a Global Islamic bank after prevailing upon RBI to amend its Banking regulations.
Among the five options provided in the memorandum (Options of GOI) issuing directions and administrative guidelines, creating a subsidiary and going for an Act of Parliament also attracted his attention and he took note of it.

“FM said that he is going to meet RBI governor next week and will discuss with him on this issue. He also said that he will be visiting Saudi Arabia and will be available in the second week of November and then a meeting can be arranged with the secretaries and officials of Banking Department of Finance Ministry to interact with ICIF,” Abdur Raqeeb said.

http://www.jamaateislamihind.org/index.php?do=category&id=102&pageid=535

A Lot Can happen over a cup of coffee!!

The top marketing director of Nescafe manages to arrange a meeting with the Pope at the Vatican .

Nescafe official, 'Your Eminence, I have some business to discuss. We at Nescafe have an offer for you. Nescafe is prepared to donate $100 million to the church if you change the Lord's Prayer from 'Give us this day our daily bread' to 'Give us this day our daily coffee'."

The Pope looks outraged and thunders, "That is impossible. The Prayer is the word of the Lord, It must not be changed."

"Well," says the Nescafe man somewhat chastened, "We anticipated your reluctance. For this reason, and the importance of the Lord's prayer to all Catholics, we will increase our offer to $300 million. All we require is that you change the Lord's Prayer from 'Give us this day our daily bread' to 'Give us this day our daily coffee'."

Again, even more sternly, the Pope replies, "That, my son, is impossible. For the prayer is the word of the Lord and it must not be changed."

Finally, the Nescafe director says, "Your Holiness, we at Nescafe respect your adherence to your faith, we realize that tradition is essential to your beliefs, we fully understand the importance of the word of the Lord but we do have one final offer. Please discuss it with your cardinals. We will donate $500 million."

The next day the Pope convenes the College of Cardinals. "There is some Good news," he announces, "and some bad news..... The good news is, he continues to a hushed assembly, that the Church will get $500 million."
"And what is the bad news, your Holiness?" asks a Cardinal.

"Sadly" says the Pope, "We would have to lose the Britannia Account."

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