National Australia Bank to introduce Islamic loans
The National Australia Bank (NAB) is considering introducing Shari’a loans into Australia, the funds for which will be supplied by its ‘non-profit financial arm’. This seems to have occurred shortly after comments by Federal Assistant Treasurer Chris Bowen, who claims that introducing Shari’a law into Australia will create more jobs.
The whole idea of Shari’a banking was a concept developed by Muslim fundamentalists as a way of introducing Shari’a law into non-muslim countries. After all, who would complain about ‘interest free’ banking? Actually it’s not interest free, as the interest is simply pre-calculated into the cost of the final loan and, since it claims to be interest free, the recipient has no way of knowing how much ‘profit’ they are actually paying.
For example, to get round the Islamic ban on usury – or unfair lending – a Muslim mortgage often works by the bank buying the property, then selling it to the customer at a profit, with the customer then repaying the entire sum in installments.
In this way the profit margin is built in from the start. It also has the advantage of making the loan immune from future interest rate rises [SMH]
It is not clear why the NAB is funding this project from their ‘non profit’ arm when in fact profit is built into the product. The basic description above though is how loans in Australia used to be created until the changes in the Credit Act meant that the banks could draw up a contact without surety, meaning they could implement variable rate loans instead of it being fixed at the time of the contract over the life of the loan. You can read more about these changes in John Wilson’s online book: “BANKS AND JUDGES” -
The sleepy people of Australia were not not aware of what was in store when our politicians passed a Bill called the Consumer Credit Act to replace the Moneylenders and Infants Loans Act of 1941. The Moneylenders Act clearly stated that a loan contract shall show the total amount of interest payable which meant that the lender knew exactly what the loan would cost, i.e.: there was certainty of terms in accordance with common law and the fundamental principles of economics governing the setting of interest to be charged on a loan. This and a few other qualities of the Moneylenders Act are explained in a leaflet I produced to support a motion I put before a Liberal Party State Convention in 1994 which is reprinted here.
Do not be fooled, by engaging in this type of product, you are supporting the imposition of Shari’a law. Boycott the National Australia Bank! You can read a more detailed summary of the NAB and Shari’a banking here: An examination of the discriminatory practices of the National Australia Bank
Instead of adopting Islamic laws, our banks can be required to offer fixed-payment options for customers, as used to be common practice in Australia, thus giving the public more options for home buying. However, at the same time, it should be realised that fixed-payment loans usually end up being more expensive than variable-payment loans, as banks want to maintain their profit levels. Involving Islam in our banking system is not necessary.
Bringing Sharia banking into Australia is not a question of Islamic ethics, but is more about pushing propaganda for Islam than it is about ethical banking. Sharia banking is a “thin edge of the wedge” issue, whereby Muslim fundamentalists attempt to bring Sharia law into our society, one element at a time, as part of the “cultural struggle” of Islam against Western nations.
The introduction of elements of Sharia Law is part of a long-term push for enabling Muslim fundamentalists to gain a bigger foothold in Australia, and so Australians should loudly protest against any such attempts to bring Islamic laws into our country.
References and further reading:
Muslims get interest-free loans, Sydney Morning Herald, 14 June 2009
Banks and Judges (on-line book), chapter 1: “What happened in 1981?”
“An examination of the discriminatory practices of the National Australia Bank”, Australian Identity Forum, 2 Sept. 2008
Exposing Shariah Finance, Gates of Vienna, 15 April 2008
Sharia Law / Stealth Jihad News, CI Centre, June 2009
Sharia law enters France, Homes Overseas, 7 May 2009
I think you are bunch of racist poeple – wake up – open your eyes – except the Aboriginal people – we are all migrants to this country. How much skilled migrants contributed to this country''s economy. Without these skilled migrants Australia wouldnt be where it is today.
Learn how to read – this discussion was NOT about skilled migrants. I am a skilled migrant and I know what I did for this country without your reminder. For those who yet to learn how to read- this discussion was about an advancement of some radical ideology that is absolutely incompatibile with western democracy. Some citizens have well founded concerns about such sociopolitical trend and discuss it in this blog.
PS: "racism" – belief in a superiority of a particular race. There was nothing to suggest racism in this discussion.
Sorry
))))))), I lashed at you. I apologise. There is no excuse for my rudeness.
Why worry about what someone like leoN says he has taken your eyes off the ball. Lets stop all this nonense taking over our way of life then we can sling off at each other and enjoy it as it used to be in OUR way of life.
Ask any Muslim they will tell you that they believe in tolerance, because the Koran teaches you, from my personal experience that is a LIE!
I have lived within a Muslim community and know that most of the people cannot read the Koran, they learn it by rote.
When couples who were not married to each other had an affair and were found out, they paid a fine/bribe to the local mosque and on I could go with stories from there.
A young Aussie guy was complaining yesterday over the amount of Muslims that have taken over his area here in Perth, 'What the fuck happened?' he asked. I gave him this websites address.
I am going to join the party.
It is home for everyone loving this country.
…..have just linked to this site………..was surprised and pleased . I have been following the bnp progress in england over the past couple of months………and was surprised to find out the movement is underway in Australia. About time too………and god bless all you good people.
Are you in Britain, Mark?
shariah banking………what next……..shariah courts? apparently there are 200 or so in England already………
The National Australia Bank should be boycotted, as well as any other bank that wants to introduce Shariah Banking.
Punish the traitor bank, don't do any buisness with them
This is to all the left winged traitors that like to call us 'waycist'
Twenty years ago whilst completing my chef's apprenticeship Ramsey, my Lebannese kitchenhand told me this; 'Never ever let a Muslim into your country. First they come in small numbers then they grow and grow and they want more and more until they rule your life. My country Lebonon was the Paris of the Middle East, now look at it, it's a shithole. I used to be an acountant, now I'm washing your dishes.'
I didn't know what a Muslim was back in the 80's and being young and and carefree I must admit, didn't pay too much attention to those wise words.
In 2001 I certainly learnt what a Muslim was when my Australian friend was screaming into his mobile phone from the roof of Tower One in New York; "I can't breathe anymore'
So kiss my ass you bunch of wanker, traitors. I hope you all feel the sting of your 'enrichment' that you have forced upon us very soon.
And muslims are not allowed to lie to us either? oh wait a sec, they are REQUIRED to if it furthers I-slam.
Women Genital mutilation (96% of muslim women in Indonesia)
Beheading
Stoning
Gang raping
racism
intollerance towards the Jewish people
Intollerance towards the Christian people
Intollerance towards ANYONE not of I-slam
World domination
genocide
cruelty towards animals (slit throats and bleed out)
pedophilia
need the list to continue, because you racist so and so, it can.
And you have the gall to say the word bigot and moron?
I-slam is the religon of satan and mohammad is his biatch.
I am not sure why there is a large debate raging in regards to spelling and apostrophes, considering the the main message in this article is about banking. With regards to all you who are so wrapped up in their racist ways and ideologies that you do not realise that your comments actually make your party (if you are members of this party) seem like a racist, red-neck society. Maybe you should open your eyes and realise that Australia is a mutlicultural society, and the truth is that the Caucasians are also immigrants as this country and the land belongs to the Aboriginals. So maybe people who are in a glass house should not be the ones throwing rocks, especially those debating about multiculturalism.
Secondly, the majority of true muslims are not trying to rage a jihad on you. So maybe you should educate yourself first on what Islam is and what their principles are before you get onto the world podium and make a fool of your self with you racism, your narrow-mind and your concepts and ideologies of freedom.
Shariah banking will work very well for NAB, as it will increase its market share and customers, and the bank makes its money and the customer gets what is required, without any fine print. Furthermore, before you begin another debate about anything that is stated here, I suggest that you first educate yourself from the right sources and then take out the racism from your ideologies and begin your comment. Shariah banking will work well as most the powerful economic nations undertake most of their financial transactions in such manner and provides individuals with choice, competition and most importantly tolerance for their culture, ideologies and beliefs. And Jacqui, please educate yourself from something else other than you-tube.
I would suggest YOU educate yourself; Under the 'Human rights for indigenous peoples' from the United Nations…'No indigenous race is EVER to be colonised ever again'
The fact that you and the left winged traitor above wish for Muslims to colonize Australia only re-inforces your bigotry.
Have YOU asked the Aboriginies if they wish to be colonized by Muslims? Of course not.
In future just stick to the greens or labor website, you obviously have more in common with their geoncidal plans that we have.
Comment – You seem to be labouring under some misapprehensions: this country now belongs to the citizens of Australia. It is OUR land and we have the RIGHT to decide who comes here. Aborigines do not own this land by themselves; instead they share in its ownership with other citizens, like myself. Traditional Aborigines have never owned Australia because they had no concept of land ownership.
As for Islam, I really think you should go and find out what the religion of Islam teaches. If you do you will find out that one of the principles of Islam is JIHAD which is obligatory upon every Muslim. Islam is not a religion of peace but a religion of submission to Allah. It is your "true Muslims" who turn to violence and Jihad. For the uninitiated a good place to learn about Islam and its inherent dangers to the West is: http://www.jihadwatch.com
As for Shariah Banking, whether it is successful or not is beside the point. What it represents is the encroachment of a mediaeval legal system into our financial system. You can be sure that this won't be the end of it: Banking one day, Stonings the next.
As usual excellent comment BK!
By the way 'comment' this is from an ABORIGINAL co-worker of mine; We won't survive this (Islamic/multiculturlsim) first they'll get rid of your lot (whites) then they'll come after us. It's the land they want.'
You going to call this guy a 'waycist' too you little nasty left winged genocidal creep?
Go drown yourself and do the world a favour or stick another needle in your arm, the greens in Perth (Giz Watson) wanted to hand out the drug 'ice' free to users.
You'd do well in her line of thinking.
Thank you, Mike, for your kind words. They are definitely appreciated.
Well, I have just opened my daily newslettter from Jihad Watch and saw an interesting story. The Saudis want to execute a man because they believe he is witch! Here's the link:
http://www.jihadwatch.org/2009.....rabia-se...
Will this mediaeval Muslim madness never end?!
We are told again and again by 'experts' and 'talking heads' that Islam is thereligion of peace and that the vast majority of Muslims just want to live in peace. Although this unqualified assertion may be true, it is entirely irrelevant. It is meaningless fluff, meant to make us feel better, and meant to somehow diminish the specter of fanatics rampaging across the globe in the name of Islam.
The fact is that the fanatics rule Islam at this moment in history. It is the fanatics who march… It is the fanatics who wage any one of 50 shooting wars worldwide. It is the fanatics who systematically slaughter Christian or tribal groups throughout Africa and are gradually taking over the entire continent in an Islamic wave. It is the fanatics who bomb, behead, murder, or honor-kill. It is the fanatics who take over mosque after mosque. It is the fanatics who zealously spread the stoning and hanging of rape victims and homosexuals. It is the fanatics who teach their young to kill and to become suicide bombers.
The hard, quantifiable fact is that the peaceful majority, the 'silent majority,' is cowed and extraneous..
tbc
Communist Russia was comprised of Russians who just wanted to live in peace, yet the Russian Communists were responsible for the murder of about 20 million people. The peaceful majority were irrelevant. China ’s huge population was peaceful as well, but Chinese Communists managed to kill a staggering 70 million people.
The average Japanese individual prior to World War II was not a warmongering sadist. Yet, Japan murdered and slaughtered its way across South East Asia in an orgy of killing that included the systematic murder of 12 million Chinese civilians; most killed by sword, shovel, and bayonet.
And who can forget Rwanda , which collapsed into butchery. Could it not be said that the majority of Rwandans were ‘peace loving’?
History lessons are often incredibly simple and blunt, yet for all our powers of reason, we often miss the most basic and uncomplicated of points:
Peace-loving Muslims have been made irrelevant by their silence.
tbc
Peace-loving Muslims will become our enemy if they don't speak up, because like my friend from Germany , they will awaken one day and find that the fanatics own them, and the end of their world will have begun.
Peace-loving Germans, Japanese, Chinese, Russians, Rwandans, Serbs, Afghans, Iraqis, Palestinians, Somalis, Nigerians, Algerians, and many others have died because the peaceful majority did not speak up until it was too late. As for us who watch it all unfold, we must pay attention to the only group that counts — the fanatics who threaten our way of life.
tbc
continued… look at the evidence. If you were trained as a lawyer – remember the subject called "Evidence and civil procedure" from your law course. Apply your knowledge – see what evidence is admissible if you were to put this discussion in the Court. If you are scientist- – you would trust RCT- randomised controlled trial that is. See what evidence you would accept as valid one. Imagine the issue discussed here being a subject for scientific research. When you see everything clearly, you do not have to apologise for calling APP morons. You have to be thanked for exercise of wisdom, for joining the ranks of those who care to save their country. Good luck. good place to get evidence from http://www.islammonitor.org/
The intoduction of “shariah” banking is part of the agenda for Islam to fight their so-called holy jihad as qoated by one of the Muslim leaders. This money will be used to fund a system that supports pedophiles, terrorism, no human rights or individual freedom. Watch –
http://www.youtube.com/watch?v.....annel_page
Noel Benjamin shows himself to be ignorant as well as a bigot.
He calls APP “morons” and says that ” Sharia is spelt without an apostrophe denoting the possesive case”. Then he mouths off with nasty comments about APP people having “feeble brains” for supposedly not understanding the English language, followed by more prejudice and bigotry when he says “Why is it that only the weak in mind are attracted to your party.”
Dear, oh dear. Noel has shown himself to be a bit stupid.
Shari’a is meant to be spelt “shari’a” (there are other variations too).
Wikipedia’s dictionary says “The term sharia itself derives from the verb “shara’a”, which according to Abdul Mannan Omar’s “Dictionary of the Holy Qur’an” connects to the idea of “system of divine law; way of belief and practice”.”
http://en.wiktionary.org/wiki/Sharia
You’ll notice that there is an apostrophe in Qur’an as well.
The apostrophe in “Shari’a” is not a possessive apostrophe. The same applies to “Qur’an”. There are other uses for apostrophes. Look it up.
Noel also finishes his last line without a question mark, where correct English would demand one in the context of his sentence.
So, in the end, Noel should be directing comments about “morons” and “feeble brains” to himself instead.
Anyone can be forgiven a typo (that’s “typographical error” to you, Noel), but when – in your ignorance – you berate others because you think you have a better education than them, that just shows arrogance and nastiness.
In doing so, you have revealed your own stupidity.
You’ve also shown yourself to be prejudiced, as well as a bigot – like so many multiculturalists are.
It’s funny because it’s true.
Noel you are the moron. We are well aware of the richness of the English langauage and culture and the need to protect it against fools like you. It seems to me that you know all about the “weak” as you are one of them. Don’t worry, the Australian Protectionist party will be registered soon and then we can start representing Australians in Parliament while you represent your Commie mates down at bordello.
Noel, you are just another feeble white liberal. The rate of decline in Australia due to third world immigration and multi-culturalism will put more people out of work and dispalce Australians. When you lose your job because some feeble politician in Canberra decided that a third world migrant is worth more than you, then maybe you will realise that you have been brainwashed and yes, you are the fool.
Morons. Sharia is spelt without an apostrophe denoting the possesive case. It’s a shame that the richness of the English language has escaped your feeble brains.
Why is it that only the weak in mind are attracted to your party.
I just checked Wikipedia. The spelling "Shari'a" would seem to be an acceptable variation.
And your argument is…?
Why is it that YOU want an Islamic Australia traitor?
little by little they hack at us, but when the hacks are counted at the end of the day, the tree may fall
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