General Twitter Thread

[Fredo]

are there no muslim banks?

Doesn't make interest I think.

[Fivex]

I think Dave knows this.

[RichC]

Surley wearing Virgin Money shirts would equate to the same thing.

[Robbie-fowler999]

are there no muslim banks?

Islamic Finance is different because for instance normal commercial banks set an intrest rate on a loan. meanwhile Islamic banks for instance if your buying a car, will buy the car for you and sell it to you at a different price for instance a 8000$ car will cost you 10000$ and you pay installments over a period of time. No collateral either.. bit complicated i never seemed to understand how its works

[Maxiedge]

What about savings? I'm pretty sure Islamic banks offer interest on savings.

Maybe, the Sharia Law is opposing the fact that Wonga loans are paid back at 100%+ interest which in a way equates to gambling?

[dww]

What about savings? I'm pretty sure Islamic banks offer interest on savings.

Maybe, the Sharia Law is opposing the fact that Wonga loans are paid back at 100%+ interest which in a way equates to gambling?

My impression was that the prohibition was on usury - although extended somewhat from the typical western definition to conclude that any interest on a loan is excessive. In savings the relationship is different - i.e. the bank pays you to hold your money rather than it being conceived as you lending it to them. Obviously I'm not an expert and it is all a bit esoteric to an outsider like me.

[barnes10]

Islamic Finance is different because for instance normal commercial banks set an intrest rate on a loan. meanwhile Islamic banks for instance if your buying a car, will buy the car for you and sell it to you at a different price for instance a 8000$ car will cost you 10000$ and you pay installments over a period of time. No collateral either.. bit complicated i never seemed to understand how its works

its effectively fixed interest for the duration of the loan is it not.

[Gingawaria]

Advertising money shiz...Muslims are not allowed to benefit in any way from lending or receiving monies.

They're also not allowed to drink but it didn't stop Momo from wearing the shirt when we were sponsored by Carlsberg. Something tells me this is just the press making things up as they go along.

[baitman]

how many wongas make one virgin?

btw, i do not know the answer.

[Kenneth]

he's such an idiot.

[Shaggy]

They're also not allowed to drink but it didn't stop Momo from wearing the shirt when we were sponsored by Carlsberg. Something tells me this is just the press making things up as they go along.

Well...the press aren't making it up but I can well imagine the Muslim Council of Britain are doing this for a bit of publicity, raise their profile etc, knowing full well it's a load of ****e.

[Shaggy]

Embarrassing. How do such clueless morons get paid work? He clearly had never seen Cazorla play.

Tweeted by Robbie Savage a day or two before the season started...

Robbie Savage @RobbieSavage8
Cazorla wouldn't get in the Swansea team !! Lol

[Lee]

Embarrassing. How do such clueless morons get paid work? He clearly had never seen Cazorla play.

Tweeted by Robbie Savage a day or two before the season started...

Deary me.

Collymore was banging on about Michu at the start of the season. What a bargain he was, how he was shocked that bigger teams weren't in for him etc... Collymore had never ever mentioned his name previously and had probably never seen him play. Yet after a couple of games for Swansea he jumps right on the bandwagon.

[destinydude]

Does my head in too. Shearer the other day on Allen.

[Robbie-fowler999]

My impression was that the prohibition was on usury - although extended somewhat from the typical western definition to conclude that any interest on a loan is excessive. In savings the relationship is different - i.e. the bank pays you to hold your money rather than it being conceived as you lending it to them. Obviously I'm not an expert and it is all a bit esoteric to an outsider like me.

I have no idea how the system works tbh.. but since most of the managers working in Islamic Banks Drive Mercedes and Porsches they find a way to make a profit.. profit is not prohibited in Islamic Finance.. just Interest and it they work around that in a different way