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Member Info for Wassatt

Member Since: Thu, 20th May 2010

Number of Share Chat Posts (all time): 33,744
Number of Share Chat Posts (last 30 days): 415

Last Posted: Today 11:36

Post Distribution over the last 30 days

Sat 22:53

Islamic banking (Arabic: المصرفية الإسلامية‎, Persian: بانکداری اسلامی‎) is banking or banking activity that is consistent with the principles of sharia and its practical application through the development of Islamic economics. As such, a more correct term for 'Islamic banking' is 'Sharia compliant finance'.[1]

Sharia prohibits acceptance of specific interest or fees for loans of money (known as riba, or usury), whether the payment is fixed or floating. Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also haraam ("sinful and prohibited"). Although these prohibitions have been applied historically in varying degrees in Muslim countries/communities to prevent unIslamic practices, only in the late 20th century were a number of Islamic banks formed to apply these principles to private or semi-private commercial institutions within the Muslim community.[2][3]

As of 2014, sharia compliant financial institutions represented approximately 1% of total world assets.[4] By 2009, there were over 300 banks and 250 mutual funds around the world complying with Islamic principles[5] and as of 2014 total assets of around $2 trillion were sharia-compliant.[6] According to Ernst & Young, although Islamic Banking still makes up only a fraction of the banking assets of Muslims,[7] it has been growing faster than banking assets as a whole, growing at an annual rate of 17.6% between 2009 and 2013, and will grow by an average of 19.7% a year to 2018.[6]

Sat 20:40

Handy, that could happen anywhere in the world, but life goes on. I feel very sorry for the families that are involved in any of the attacks in recent days, but, as I said, business and life goes on.

I don't think for one minute that TSTR will be effected in any way (albeit hopefully) and Oman is one of the safest Middle East countries in many ways.
Sat 18:45

The construction in Oman is going full steam ahead. A new rail link to Sohar is underway, and a new motorway is also planned. Of course the port in Sohar is a major expansion having easy access into the Indian Ocean.

The Sultan of Oman has been planning the future of Oman for years, the airport has now been totally rebuilt at Muscat, and the surrounding infrastructure already built. They are trying to cover financing the country taking into consideration that their oil will run out in the years to come.

Holiday markets are growing, construction and finance are becoming world players. So it's most definitely a growing place to be.... A great move on TSTRs part
26 Jun '15

I hope everyone has happy dreams over the weekend ...things now moving at a pace,
26 Jun '15

Perhaps all of the workers will use the link as a cheaper way of travelling back and forth. There's a huge amount of Indian people that work in Oman, a get to travel home once (sometimes twice) a year.

I've seen them totally loaded up with duty free goods, etc when at Muscat airport, so if they can go by sea there will not be such a limit on what they can carry.

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