On the way from Galle.
Monthly Archives: April 2009
Could this global financial crisis have been avoided if Western banks had been more open to incorporating Islamic principles in the first place ? according to experts the answer is yes.
Two Key principles in Islamic Banking :
1.Interest is Forbidden
2.Profits can only be made with tangible assets.
The global recession is said to have begun with sub prime lending which surfaced in the mortgage sector, where almost anyone was able to mortgage a house without having to prove that they can pay back the loans – in other words not being in possession of tangible assets, which could always have been there as something that can have been liquified if the need arose.
What happened in the subprime mortgage industry ? basically this was a large group of banks that allowed financing to people regardless of their credit and more often than not they could avoid proving income. They didn’t even have to bring money to closing (which inflated home values even more because people weren’t putting real money into buying these homes).
Well yes, technically i am not meant to be blogging. But i thought this very moving short film about a father and a son had to be posted. I highly recommend this video and its only about five minutes long.
I was told some people got an email forward on a similar theme.
Well yes..For some time. I am in my last 7-8 weeks of my course and things are really piling up. I have been procrastinating a lot on computer vices these few days, rather unlike me but I have.
This will be my last post for quite some time, I may post the odd photo on my photo blog, but other than that I will be nonexistent where blog posts are concerned. I am sensitive to certain issues discussed by other bloggers, mostly political ones, some are rather immature and don’t deserve a response, but some others which are brazen stupidity (despite some being disguised in genuine ignorance)do tick me off and I can’t resist the temptation to give an ethical yet vicious response. I intend not to let my vulnerability of being tempted to get the better of me, so I will stay silent and let the barking dogs lie, so to speak (wrong use of the metaphor – but you get the gist).
These few days have been extremely monotonous, the wakeup-eat-assignments-sleep-wake up cycle has had such a monotonous consistency that the lack of variation in my daily routine has made me forget which day of the week I am in (yes I don’t have calendars hanging anywhere),fortunately for me I am in my Easter break and I have no submissions over the vacation, so I won’t be accidentally missing a submission date.
The last few days have been particularly boring, because I have been very busy with typing endless pages of feasibility reports, at least if it is design it won’t make me bored. This boredom I am having now is like a pitiless zooming in on the epidermis of time; every instant is dilated and magnified like the pores of the face.
Anyway, I will be around reading the odd post on Kottu and regular reads if I can spare a moment, and will be rather uncharacteristically turning a blind eye to what I don’t agree with or don’t endorse.
Over the next few weeks I have at least about 17,000 – 18,000 words to type, and have immense amount of writing and tearing papers before I come to the typing stage, not to forget the amount of drawings and research I have to do. And time is brutally against me!
So for these reasons and these reasons alone I have made a conscious decision to stay away from the lures of the internet i.e. blogging, reading blogs, and yeah blogging for sometime, and focus purely on my studies. I may not be very accessible over the next few weeks, but will always try to be there if needed to talk.
As a coincidence, this blog happens to be three years old next month.
Enjoy the weeks ahead.