The Edge, 5 December, 2006 The esoteric grander design behind the war on terror can be viewed as a sinister objective to maintain the unchallenged status of the US dollar that is now the de facto international currency. Put simply, it is basically about the "dollar hegemony". This is not a war on terror. It is an aggression of the highest order against the weak. It is in fact a war to control … [Read more...]
The High Cost of Consumer Credit
The Edge, 30 October, 2006 Imagine paying at least 30% more when purchasing a piece of furniture or an electrical appliance through credit. In Malaysia, many individuals and businesses buy furniture and electrical appliances under the credit scheme because of the supposedly low weekly or monthly instalments. But what they may not realise is that the actual annual percentage rate (APR) charged in … [Read more...]
More than the Developer’s Cost
The Edge, 24 July, 2006 The government's recent move to introduce the build-and-sell concept in the housing sector should be commended, considering the numerous problems faced by customers in the present system, particularly with regard to abandoned projects and shoddy workmanship. Recently, however, newspapers reported that the move means the prices of houses will rise by 30% to 100% in some … [Read more...]
Gold and Legal Tender
The Edge, 11 July, 2006 Money and legal tender are two interconnected words but do not really share the same financial implications. For example, it is normal for cheques and credit cards to be used as money for payments but these are not legal tenders. A business that has no bank account or has no arrangement with a credit card facility provider will not accept cheques or credit cards for … [Read more...]
True Depiction of the Prophet Muhammad (Peace be upon him)
The Edge, 28 March, 2006 The recent derogatory cartoon depiction of the Prophet Muhammad by a Danish newspaper that was followed by other print and electronic media is simply unworthy by any means. The cartoon brought nothing but more tensions between the West and the Muslim world, not to mention the unwarranted destruction of property, life, and business losses due to boycotts. Some say the … [Read more...]
Alternative in Islamic Home Financing
The Edge, 31 August 2005 Islamic banking and finance in Malaysia cater to the needs of those who wish to avoid conducting their financial dealings operating on the riba, or interest. Accordingly, Islamic financial institutions in the country have introduced a number of Shariah-compliant modes for home ownership, the dominant of which are the al-bay’ bithaman ajil (BBA) and the musharakah … [Read more...]
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