Foxholer
Blackballed
Nothing wrong with debt in Sharia. It's not paying it that's dodgy.
But as Virtuocity posted Interest earned or paid is a no-no.
So Sharia-compliant products are created/used instead.
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Lloyds Bank Account Changes:
- Thread starter SocketRocket
- Start date
Nothing wrong with debt in Sharia. It's not paying it that's dodgy.
But as Virtuocity posted Interest earned or paid is a no-no.
So Sharia-compliant products are created/used instead.
SocketRocket
Ryder Cup Winner
But Sharia Law does much more that what you are suggesting. Sharia deals with many topics addressed by secular law and conflicts with it in many cases.
D
Deleted member 15344
Guest
Hence why i said - where is practically applicable and doesnt conflict with our own laws
In the current case in regards bank accounts - i can see it being ok
But when it comes to the way it deals with adultery etc and the stones and cutting hands etc - by following those laws it means they break our civil laws then no - that shouldnt be allowed.
There needs to be tolerance on both sides to make it amicable
Pout of curiosity has anybody read the full t's and c's? How does one prove their religion. Anything to stop me going in and setting up an account claiming to be a Muslim?
i actually think they have the right idea here. Have seen press snippets about KFC and subway also selling halal. I do not object to them serving halal as has been covered here, freedom of choice is a good thing. I dominance to things such as bacon being taken off the menu and having to choose halal as there is no alternative. I don't believe that the Muslim religion should be more important than any other religion but I think it is given extra importance on many things. I won't even start on the lack of Xmas lights in town centres nowadays!!
Crazyface
Tour Winner
Foxholer
Blackballed
As a practicing Klingon (official and recognized religion) I cannot accept any interest less than 100% daily of my deposit or I have to commit HEGHBA.
As The Klingon empire is vast and reaches further into space than any other religion on Earth I would expect Lloyds to pander, erm adhere to these requests after setting this precedent.
I look forward to early retirement based on this income which will free up my time to take over the neighbouring planets and perfect a new cloaking device for my Bird of Prey.
As The Klingon empire is vast and reaches further into space than any other religion on Earth I would expect Lloyds to pander, erm adhere to these requests after setting this precedent.
I look forward to early retirement based on this income which will free up my time to take over the neighbouring planets and perfect a new cloaking device for my Bird of Prey.
bluewolf
Money List Winner
I would have thought that you may not want one of these accounts.. If they can't pay interest, then they can't earn interest..
Come on people.. This is a Bank.. It's a commercial venture.. Lloyds wouldn't be doing it if there wasn't some sort of profit in it would they?
Birchy
Money List Winner
Im going to start a new religion where its against my beliefs to pay tax.
I wonder if HMRC will sort me out a special tax free account
I wonder if HMRC will sort me out a special tax free account
Foxholer
Blackballed
If it's a religion, then no tax to pay anyway.
If it's a cult, then tax to pay!
Recent change of/ruling on status in UK of Church of Scientology.
If it's a cult, then tax to pay!
Recent change of/ruling on status in UK of Church of Scientology.
Mark1751
Assistant Pro
Hi
The Islamic account is available to anyone who asks for it regardless of your beliefs, typically the customers tend to be from a Muslim background . It's been created to cater for a large customer base and is obviasly very profitable to the bank as no interest paid, but the money held in the accounts is kept separate from normal deposits and is managed in a way that is allowed under sharia law. Two leading Islamic scholars helped create the account for lloyds.
With regards to going overdrawn, the account will not normally be allowed to go into debit and this will only on very rare occasions and no interest would be paid or asked for to keep inline with faith, but if somehow the customer managed to regularly borrow money they don't have the account would be closed due to breech of terms and conditions.
Mark
Oh and hello......
The Islamic account is available to anyone who asks for it regardless of your beliefs, typically the customers tend to be from a Muslim background . It's been created to cater for a large customer base and is obviasly very profitable to the bank as no interest paid, but the money held in the accounts is kept separate from normal deposits and is managed in a way that is allowed under sharia law. Two leading Islamic scholars helped create the account for lloyds.
With regards to going overdrawn, the account will not normally be allowed to go into debit and this will only on very rare occasions and no interest would be paid or asked for to keep inline with faith, but if somehow the customer managed to regularly borrow money they don't have the account would be closed due to breech of terms and conditions.
Mark
Oh and hello......
CheltenhamHacker
Journeyman Pro
Both Lloyds in the OP, and Subway in the quote, are private Businesses. Subway especially, these are all franchised owned. In my eyes, they can do whatever they like, whether this be products aimed at Muslims, Halal food, whatever. You don't see people complaining at veggie sandwich shops for not selling meat!!
SocketRocket
Ryder Cup Winner
Lloyds is 25% owned by the Government. Vegetarianism isn't a religion.
That may be your opinion to which you are entitled, mine differs though. I don't like to see Islam encroaching and eroding our culture. I guess I am also entitled to an opinion , or is mine Racist?
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Foxholer
Blackballed
Come on Socket! Get your facts straight!
First you say it's mainly owned by the Government - wrong!
Then you say it's 25% - wrong again!
It was never 'mainly owned' by the government - but the government was/is the major shareholder.
43.4% ownership was the price of the bailout. That's now down to about 33%
SocketRocket
Ryder Cup Winner
Come on Foxy, I suggest you get your facts straight. As of March 2014, HM Treasury held a 24.9% shareholding through UK Financial Investments in Lloyds Bank.
Oh! and being the major shareholder means 'Mainly owned by'
http://www.bbc.co.uk/news/business-26738687
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Foxholer
Blackballed
Read the article a bit more carefully!
Hint: Can you identify when they reduced it to 25%?
Edit:
I take it back!
Just saw the article - dated today!
From other news sites
Business Recorder
Britain sells more shares in rescued Lloyds Banking Group
49 mins ago
NDTV Profit
Britain sells 7.8% of Lloyds bank for $6.9 billion
3 hrs ago
Sky News Australia
UK sells part of Lloyds bank for STG4.2b
4 hrs ago
Reuters UK
UK heads for Lloyds exit by 2015 after 4.2 billion pounds share sale
4 hrs ago
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SocketRocket
Ryder Cup Winner
Read the article a bit more carefully!
Hint: Can you identify when they reduced it to 25%?
Read this:
http://en.wikipedia.org/wiki/Lloyds_Banking_Group
C
c1973
Guest
Surely they are only offering an additional type of account to complement the existing ones already available? I don't see the problem in catering for different demographics, as long as they are not discriminating others in any way.
rosecott
Money List Winner
Simple answer - change your present account to an Islamic (not Islamist) account. We won't reveal your prejudices.
SocketRocket
Ryder Cup Winner
Reveal what you like. I'm comfortable with them.
