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Islamic Banks to enter financial sector in Ethiopia

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09/07/10

Permalink 11:00:18 am, by nazret.com, 599 words   English (US) latin1
Categories: Business, Ethiopia, Finance

Islamic Banks to enter financial sector in Ethiopia

Islamic Banks to enter financial sector in Ethiopia

By Kirubel Tadesse

Capital

Finally responding to a strong public demand, the National Bank of Ethiopia (NBE) is about to approve a directive that paves the way for the establishment of Islamic banks.
The directive also opens doors for currently operational commercial banks to create an interest-free banking wing. “Existing banks may create interest-free banking windows and Ethiopian nationals may establish a bank exclusively engaged in interest-free banking,” the NBE draft directive reads.

To accommodate muslims, who are by Sharia’h – Islamic law – prohibited from taking or giving interest (riba), commercial banks are currently offering zero interest. However, fully-fledged establishments of Islamic banks, which offers the owners of capital to share the profits made by the entrepreneur who comes up with investment projects, is an untapped concept for the local financial sector. The sector will, according to Prime Minister Meles Zenawi, remain closed from foreign banks involvement.

The 2008 Banking Business Proclamation has already crafted a room for non interest banking. However, particulars on the regulations of such services were left to be covered by National Bank directive which, two years late, has come now.
According to sources, NBE’s two page draft directive entitled Directives for Conducting Interest-Free Banking, has already received feedback from stakeholders and should be approved in a few weeks time.

The impending approval is expected to enable some already under progress initiatives that envisages establishing Islamic banks.

As per the NBE draft directive interest-free banking operations may include modes of advancing funds on a profit-and-loss sharing basis consistent with the Sharia’h law.
Ibrahim Miftah, an economist, explains that what makes profit- sharing permissible in Islam, while interest is not, is that in the case of the former only the profit-sharing ratio and not the rate of return itself is predetermined.

“It has been argued that profit-sharing can help allocate resources efficiently, as the profit-sharing ratio can be influenced by market forces so that capital will flow into those sectors which offer the highest profit sharing ratio to the investor, other things being equal,” Ibrahim in his article, pending printing, explained.
The NBE directive also stipulates that interest-free banking may include the modes of finance which are used for purchase or hire of goods, including assets, and services on a fixed return bases. Among such recognized operations one is Murabahah which means a contract for the purchase and resale of goods with the resale price being determined on a cost plus basis.

IN such arrangements intisar (or Istisna) and salam are also included. The latter is defined to equate a contract featuring advanced payment against delivery of goods: the financing is usually used for commodities. The former – intisar –is a contract under which a buyer place an order for goods to be manufactured for delivery at a future date.
The upcoming directive is expected to boost national savings because first time depositors are expected to be encouraged by the new Islamic bank offering. PM Meles recently said the next five year economic plans to boost the current 9.4 per cent of national saving shares in the economy to at least 17.4 per cent and to 21.3 per cent shares if possible.
Though new for Ethiopia, interest-free banking has long global history. The first private interest-free bank, the Dubai Islamic Bank, was set up back in 1975 by a group of Muslim businessmen from several countries.

After the establishment of the first private commercial bank in Dubai, more than fifty interest-free banks were established in Muslim countries and as well as in European countries such as Denmark, Luxembourg, Switzerland and the UK.

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93 comments

Comment from: Ogaden Kid [Visitor]
This is great news, investment within Islamic in regions in Ethiopia will rapidly grow. I will give credit where it’s due. Muslim people of Ethiopia are finally getting a voice. Truly showing the change in Ethiopian demographics
09/07/10 @ 11:51
Comment from: Gragn ahmed [Visitor]
Greater Ethiopia now I see. Well done although it took two years late to reach here. I commend those who made it happen in this ignorance ridden country.

Now, we expect a muslim president.
09/07/10 @ 12:13
Comment from: Ethio [Visitor]
Wooooooow, I can smell a real growth now!! what a nice move by Ethiopian National Bank and its workers!! Even if this kind of Banking system should have been opened long time ago, we should still appreciate a system that is going to include more than 55 millions of Muslim Ethiopians, who have been a back bone of Ethiopias ecnomy for a century. Lets all of us be patients and optimistics as the Islamic bank (according to the best 21century economist from UK and Germany) is known to be the only BANK system on planet that nevre hit by Financial crisis nor it go bancrapcy.
09/07/10 @ 12:24
Comment from: Halafi Mengedi [Visitor]
The new Islamic nation of Horn Africa is created and being converted by the traitor Meles to please his masters in the Arab countries. What is the purpose of Islamic bank to trade and smuggle Al qaedia, Al shebab and Issayas???

Al Meles Shebab Zenawi should be the board of directors chairman at the Islamic bank. This is the stupidest move by the Government I have ever seen.
09/07/10 @ 12:29
Comment from: United Ethiopia [Visitor]
Woooooow, what a nice move!
This thing should have been done long time ago, any ways it is never be too late to start things that is proven to be PERFECT such as ISLAMIC BANK!!!

Since,according to 21st century economists,ISLAMIC Financial system or BANK is proven to be the only bank that never go bancrapcy nor it hit by financial crisis.
I realy here smell and predict a big ETHIOPIAN economic GROWTH since the best bank emerging and the cuntry is opening its door to 50+ muslim Ethiopians, who has been the back bone of economic players with only given little opportunity


SO those all people who are not born to become cynics or pustimistics but learn it to be, it is a day you should be celebrating! be optimistic and you will have nothing to fear with the Islamic bank.As USA's late Presidant Rosvelt said to AMERICAN ppl during economic depresion yers around 1929-31, you have nothing to fear but fear itself! so you Ethiopian cynics if u have to fear, you should fear to the above saying!


All Ethiopian muslim Brothers and sisters, Enjoy your Economic Freedom, as the father of modern econmy Adam smith put it Free economy will increase the profitabiltiy and Increases the wealt o the nation.

From now on Ethiopia's economic growth will be the true one!!!
I wish all the best for all Ethiopians and Ethiopia it self!!!
09/07/10 @ 12:55
Comment from: washeraw [Visitor]
I am not comfortable with this idea. In Egypt, the Islamists have used this banks to wield political influence. I also suspect that a lot of cash will flow from the Gulf to this type of institution to make it stronger than the average commercial bank.

I wish I were wrong.
09/07/10 @ 13:22
Comment from: Alene [Visitor]
ability without gentlity stupidity.
09/07/10 @ 13:45
Comment from: Qorqoro [Visitor]
washeraw [Visitor]

If U not comfortable with Islamic bank. U can have Serbian and Armanian Orthodox BANK in Meqele and Gonder
Haa haaa haa haaaaaa
09/07/10 @ 13:51
Comment from: Mohammed [Visitor]
This is a great news to hear from Ethiopia if we strive for the real economical growth this is the a step forward. well done TPLF
09/07/10 @ 14:00
Comment from: Tsimona [Visitor]
Qorqoro
You're so terrified by orthodox Christians, I wonder why..
Gonder,and Mekele where civilization born. Just to let u know.
09/07/10 @ 14:26
Comment from: teff [Visitor]
A banking system which does not charge interest and still be profitable sounds good.It should be a model to other banks. Any banking system that will benefit all peoples in the country should be welcomed. The question is this banking system is going to serve every Ethiopian or only the Muslim community? I hope it serves every one which is an Ethiopian tradition.
09/07/10 @ 15:05
Comment from: Al-Meles ya Zenawi ya [Visitor]

Al Meles Zenawi has nothing to do now. He finished about ethnic engineering. He is now engaged in religions engineering.

Why does a religion need a separate bank?

According to orthodox teaching, even christianity interest is not allowed. This means both muslims and christians can have the same bank that deliver the same service.

So it is not necessary to have an islamic bank or an orthodox bank. This is crazy. Ayee Meles Zewawi,

He land-locked Ethiopia

He divided the land by ethnic

Now is diving the bank by religion, then we need now Protestant banking, orthodox banking, Johovah banking, pente banking, lurthran banking, catholic banking, Bahai banki, Budhist banking, Judaic banking, sun banking, moon banking, tree banking, river banking, birds banking, Adventist banking, Jesuit banking, EPRDF banking, Tigrean banking, Amhara banking, oromo banking, Gurage banking, Anuak banking, Wolaita banking,.... Meles Zenawi is a crazy man.


Does Meles know the bible also teaches interest taking and giving is not allowed?
09/07/10 @ 15:59
Comment from: woldeyesus [Visitor]
This is inevitable in this globalized economy and sitting near the ocean of Islam with large lakes of Islam with in the country itself.

One positive outcome of Islam's domination will be making the Christians truly think about their own God whom they currently approach lukewarmly. As Islam get stronger financially and politically, Christians will be forced to run to their closets and kneel down in-front of their God. That could be more beneficial to them than their false domination now. This hold true for the rest of the world that was bragging to be Christian as a whole.

Thank God, Jesus Christ, for allowing scourges like Islam to flourish from time time. As in the past, Christens will be purified by these adversities. When the church is persecuted (soon will be forced to pay taxes to the Caliph), its followers will realize they are nothing without the mighty hands of the Lord!










09/07/10 @ 17:05
Comment from: marta [Visitor]
oh it is nice to be open this bank but after 2 yere we will depor them all moslime from our lovely ethiopia B/c this is enought for them we will send to sudan they can be a slave for sudanise--but for us we will find another slave like them.
09/07/10 @ 17:14
Comment from: begeta [Visitor]
Ehio chiristiyan weak up this is the time to wach out things
09/07/10 @ 17:38
Comment from: yoni [Visitor]
Gragn ahmed [Visitor]
"Greater Ethiopia now I see. Well done although it took two years late to reach here. I commend those who made it happen in this ignorance ridden country."

"Now, we expect a muslim president."

I hope u r starting to appreciate this country you previously threaten it and its people so much because of ur small talk with Assta.

Although, you forgot to snap your finger after your last statement,

We will work on the Presidency :D:D:D



09/07/10 @ 17:41
Comment from: kirubel [Visitor]
Well such kind of banks might bad for the security of the country.
09/07/10 @ 18:48
Comment from: takle [Visitor]
since the Muslims have most of the cash it is only right for them to have a bank that works in their principle. He when was the last time you saw a christian milionare in Ethiopia and think of you muslim neighbors yep they have a beutiful house and so on. they are hard working and good luck to them. one of these days i will join their religion.
09/07/10 @ 18:48
Comment from: Danny [Visitor]
Ethio, there are no 55 million muslims in Ethiopia, you just expressed your wish. Muslims in Ethiopia maybe 20 million out of Ethiopias 80 million people.
09/07/10 @ 19:27
Comment from: Danny [Visitor]
United Ethiopia, that is your wish since you were abused by the puppet turkish ottoman empire called ahmed gragn in the 16th century.
09/07/10 @ 19:31
Comment from: Danny [Visitor]
By the way the five pointed star seen on the picture is called pentagram, pentagram is a sign used by devil worshippers.
09/07/10 @ 19:32
Comment from: Danny [Visitor]
qorqoro, keep kissing an arab foot, since your eplf...is fabricated by arabs.
09/07/10 @ 19:35
Comment from: Abubaker [Visitor]
Halafi Mengedi

"Al Meles Shebab Zenawi should be the board of directors chairman at the Islamic bank. This is the stupidest move by the Government I have ever seen".

This is a smart move by our National Bank and not the "stupidest" as you wrote, you passer bye!! May be you should stay home!
09/07/10 @ 20:13
Comment from: Mike [Visitor]
As an investment its good thing, but I don't think so there's something in the back Ethiopia is a peaceful county nobody want Ethiopia a land of al qaedia and other
09/07/10 @ 20:16
Comment from: Abubaker [Visitor]
washeraw
"I wish I were wrong". No, you are right. However, I believe our Bankers have done their homework and put a solid system of checks and balances to ensure the suscces of this new era venture.
09/07/10 @ 20:24
Comment from: bliss [Visitor]
This is a sign of danger people. We all know now that Wahabism is spreading in Ethiopia. We have a history of church burning and genocide by Muslims on the christians. More Muslims are getting married with more kids to affect the population of Ethiopia. The idea that Muslims didn't have voice is false. By making yourself a victim, you are slowly dominating. Christianity existed in Ethiopia way before Islam. It is no longer that Egypt and Arabs want to Islamize Ethiopia and the Western world have helped them directly and indirectly to achieve that. The more concessions are given the more Islam is going to dominate Ethiopia and pretty soon, there will be Sharia Law and women will be forced to wear Berqas. Of course the goal of Weyane is Anti Ethiopian.
09/07/10 @ 20:24
Comment from: Mike [Visitor]
As an investment its good thing, but I don't think so there's something in the back Ethiopia is a peaceful county nobody want Ethiopia a land of al qaedia and other
09/07/10 @ 20:26
Comment from: Maaza [Visitor]
it is good to refuse to collect interest on money you have lent to someone or on money you have deposited at some institution. i would consider that as some charitable deed or spiritual fulfillment as suggested in the article. but why should I, as a Christian, lend my money to my Muslim friend free of charges? Second, if Muslims and Christians are equal before the law, how come a Muslim is entitled to interest-free bank loan while the Christian community unfairly subsidises their saving or credit accounts? I think religion and business should not be mixed up. If Muslims are really serious about their religion, why do they engage in lucrative wholesale and retail trades in the first palce? Why do they accumulate wealth and property beyond their immediate need? Aboveall, I completely disagree with the idia or practice of interest-free loan to a Muslim for two major reasons. Firt, it is leads to unfair competion. When Ahmed and Zekarias take loans from banks and open tea rooms side by side, with the former paying no interest the latter is doomed. Second, religion and business should be kept apart. If every guy invokes his religious book to demand or justify special treatment and previlege, that does not sound cooooool.

Muslims I wait for your reaction
09/07/10 @ 20:49
Comment from: meme [Visitor]

Teff, wake up. Too much sleeping man. There is no anything called for in muslim. Mulsims says only muslims. They the most region racist people on the planet. Do not expect justice or fairness from Muslim. Even if you bleed and dying, if u a christian, a Muslim would not carea bout you?

Have you ever seen a muslim charity anywhere? If there is a muslim charity, it is only for muslims, it is the most racist and discriminating religion. I do not understand why Everyone is giving attention to this evil religion.
09/07/10 @ 21:29
Comment from: Andinet [Visitor]
Al-Meles ya Zenawi ya,

you idiot, Meles did not invent Islamic banking. It is a major area of finance. That Ethiopia is opening to it is good news for all who decry the lack of development. It should be anyway. Unfortunately, a hypocrite is a hypocrite and can never give respect where due.

That Christianity forbids interest is irrelevent. No one is preventing an Orthodox financing bank.

And to the general readers who have wondered whether this bank would be open to non-muslims. Well, it probably depends on the eh business to be invested in. For example, I doubt they will work with someone looking to open a liquor store or a pig farm (not a problem for Orthodox anyway).
09/07/10 @ 21:50
Comment from: Adisweqt [Visitor]
Another acrobatic theater by the clown Meles and company indeed. No meaning to disrespect Muslims that with all respect need their own services in accordance to their Sharia laws if they wish. But the way that this has been presented is pathetic of the Ethiopian Gov and the National Bank. They presented them selves as the gives of the freedom to create Islamic banks. When they should liberalize completely the sector in the first place. Even up to today the Banks non affiliated to the Gov are in much more disadvantage because of Government interventionism on benefit of affiliated institutions. And regrading the stupid excuse that has given the wannable subject matter expert about market force being driven by profit is like putting lipstick to a pig because there is no profitable sector with out risk a parameter and that is why the interest rate are there. The greater the risk the greater the profit and also the the interest. Putting only the profit sharing (which by the way also mean benefiting of other people big ideas and sweat, kind of loan shark on assets) will mean less loan until guaranteed big profits or big portion of the profit(slavery?). No wonder you do not see large middle class in Arab countries and no wonder the financial elite of the Arab countries prefer to put their investments aboard where there may be more profits than in their own country. Islam laws may have good intention but is only followed by the regular simple Islam man and woman not by their financial elite which are crook. For those haters that are crying Islam is coming I am sure you even have not bothered to open and read from your heart the bible you pretend to defend even once in your life for sure. You just are bunch of haters.
09/07/10 @ 21:59
Comment from: Gezaee H. [Visitor]


I do not understand the aim of this regime. Why do we need religious banks in Ethiopia?

I do not understand people. If Meles has become a muslim, why he does not declare it in public? why is all these special treatment of Mulsim? Are they not Ethiopian like any Ethiopian?

Religion, be it Christian or Muslim must never have a discriminatory institution. Mr. Meles if you have become a Muslim, it is fine, everyone is entitled, but do not create discriminatory institutions like islamic bank, any other religious banks.

I do not understand what this government wanted to achieve in Ethiopia. The orthodox church is marginalized and even insulted by Meles.

Why Mr. Meles? is not every human being equal in the eyes of God? why would one human being treated special than the other?

I strongly oppose any institutionallized racism or discrimination. Everything this government does is wrong for the people. Instead of creating institutions which gives the same and equal services to all. Our so called government is so obssessed with establishing institutionalized aparthied. In few months we will here Sharia forced on our people against their will.

Anyone can hate me, but I am against any institution that legally gives discriminatory services to the public. Muslims can hate me if they want. You are not better than any human being. I advocate you get treated like every human being on the planet, no more no less. I do not care about any religion, but services must be equal to every human being.

No human is above any other human. Mulsims not are above anyone. Chirsitans are not above anyone. Any religion that delvers a discriminating public service has a problem ints doctrine, be it muslim or christain.

The so called govenrment in Ethiopia has become a cult specialist in the history of Ethiopia. This is dangerous for the harmonios coexistence of all Ethiopia. This is how conflict arises. When someone is treated specially, it is at the expense of the other. This is the history of Ethiopia. There is no fair system. Discriminating, discrimanting,..




09/07/10 @ 22:07
Comment from: Halafi Mengedi [Visitor]
Gezaee H,

Al Meles Shebab Zenawi conveted to Islam when he married Hadiya Fatima (Azeb Gola) the ex prostitute of all Arabs in Khartoum.
09/07/10 @ 22:53
Comment from: Adal [Visitor]
To ALL bigoted iddiooouts!!! Hellow there are islamic banks throughout the world including europe. Even some countries in Africa with few percentage of muslims have these banks. That includes the souther neighbor Kenya oh yaa? South Africa, how about Botswana with tiny muslim population? Surprised?
Wake up guys and think. The country should be home to every citizen. How do you imagine a country's growth with out full participation of its citizens. I know so many muslims in ethiopia with big ideas and money secluded in their closet just for lack of opportunity to the banking system which has no contradictions with their conscience. Do you like them to be kept in that way? if so your time has passed. Its 21 century and you still see the country through holes of your butt. Friendly advice: use another hole! its very dirty down there.
09/07/10 @ 23:02
Comment from: A,l-Meles ya Al-Zenawi ya [Visitor]

Andinet


Andenethe Yitfa, kit atabi, quashaaha. Why do u need another differerent bank? there is bank foreveryone in Ethiopia. If the bank has to be developed, the bank has to be deleloped for all. I hate this type of banking in my country. anti kit atabi, u are happy because I know you only think about muslims? Quashasha, gimatam , zimblehe ktkn ata atbm?
09/07/10 @ 23:13
Comment from: zi [Visitor]
The beginning of the end. Soon ETHIOPIANS will be under Islamic law and become Muslims or PAGANS.
09/07/10 @ 23:20
Comment from: Enkuftu [Visitor]
Dear Ethiopians do not be terrified!!! Islamic banking is everywhere before you open your filthy mouth try to understand what is in it for Ethiopia. Your god father USA and Britain have been approved long ago any way
Those who cannot see from the universe except a material fact will not like Islam.
Those who have hatred and unacceptance to others will not like Islam.
Ethiopian we do not like anything THE king Hilesilase, ,Mengistu or Melese Oromo or Somali we never like Tigrai or kembata but we say we love Ethiopia this is empty word I am exhausted of being Ethiopian.
:lalala::lalala::lalala::lalala:
09/08/10 @ 01:21
Comment from: tazabi [Visitor]
smart man meles see what he is doing. He tells the muslim here is islamic bank. Then all the seltes will bring the money that they get from merkato which they all store in the house. Which will give meles access to the money good job meles...
09/08/10 @ 01:48
Comment from: moh [Visitor]
I thought Islam does not allowed to save money in the bank:crazy:
I don't like this idea, the Islam make enough problems in Ethiopia , for example by building masque always near where churches are........ Ethiopia will be an Islamic republic one day... BUT BUT my friends, Quantity is NOT Quality!
09/08/10 @ 02:47
Comment from: Truth [Visitor]
Danny, Stick to what you good at.
Responding to each and every question posted on the web about Ethiopian Airlines. Islmaic bank and Islam is out of your league. Stop pocking your nose on something your don't know.
09/08/10 @ 02:53
Comment from: Tamrat Tamrat [Visitor]
As long as they give bank service to Ethiopians they can work. Muslims are all over Ethiopia. What bothers me is the bank of tigrians. They establihed by money anfarilly taken from ethipoinas by the dictator tplf government through effort.
09/08/10 @ 03:38
Comment from: truth [Visitor]
Maaza [Visitor]
No one is asking your money- if you got one- free of charge. The Islamic Bank law prohibit from taking or giving interest baring money. So those who receive the loan are getting it from those who deposit on interest free bases. The system is self sufficient and sustain it self without borrowing from outsiders. Ofcourse anyone is permitted to bank provided the abide by the rule. Google it if you need further information
09/08/10 @ 03:40
Comment from: justice [Visitor]
Dear ethiopian, first of all before you comment about this Interest free bank it is of a civilized man to read about it and them make a critical comment. Some of you especially the christian are just writing even writing a page about the Bank. Go to the internet read about it and then comment. Honestly, do not always interpret as BAD everything whihc is not of AMHARA or CHURCH. Let be civilized.
09/08/10 @ 03:51
Comment from: Hutuu [Visitor]
i hate this people , i am saying this terrorist.. now they are having thier own bank hummm.. weye Melese he is the evilest of all evils. i think i should join the florida church Qurane burning Ceremoney for this
09/08/10 @ 04:54
Comment from: Omer [Visitor]
ጥሩ ዜና በኢድ ዋዜማ: የቆየ ብዙ ያያል::
ለግራኝ አህመድ እና ለሁሉም እንኳን ለኢድ በዓል በሰላም አደረሳችሁ::
ሰላም ለሁሉም::
09/08/10 @ 05:23
Comment from: kid [Visitor]
bliss
The history of chiristians started with minik exaple in harar there were not single christian church before the invetion of minilk dire dawa jimma jijiga in hararge in general there were no christians before minilk so which ethiopia your talking about?
09/08/10 @ 06:21
Comment from: Assta B. Gettu [Visitor]
I can see all Ethiopian Muslim commentators, young, old, blind, crippled, rich and poor, are so delighted to see an Islamic bank in the capital city of Addis Ababa be opened; one of these crippled Muslims, Gragn Ahmed, is in fact dreaming for a Muslim President in Ethiopia. What makes them happy is the word Islamic: If the word was Christian instead of Islamic, they all could have screamed: “Allah Akbar!” Any one can understand now how bigot they all are, and they have completely forgotten they are living in a Christian country. Meles Seitanawi has allowed the Islamic bank to be opened in Addis Ababa so that he can simply put the money he has stolen into this bank. Tomorrow he will designate a memorial day for his false prophet Muhammad the rapist.

Anyway, this week, I will be in California to participate in one of the greatest day in my life: the Burning of QURAN!!! I’m inviting everybody to this memorable day.
09/08/10 @ 06:31
Comment from: RAMATOHARA [Visitor]
It is ok if everyone has equal access tot his bank. If one ivestor get interst based loan and the other interest-free loan how could they compete in the market? How to control those who save money on interest basis and borrow interest-free? Most of the muslim business men don't hesitate to do this.

My advice is to call the new banks interest-free banks not islamic banks and make them equally open for everybody. The objective should be to have interest-free bank. We need to be avoid the chance of relating and financial institution to any religion. Otherwise there will be a chaos. The governmetn shall closelly follow this institutions from how they recruit workers, how they treay different customers to their relation to outside forces.
09/08/10 @ 07:04
Comment from: Ogaden [Visitor]
Dear Ma'aza, I have followed your comments for a while a found many of them interesting as well as constructive. But now, I am totally against your point of view for the mere reason of being impartial. Like many fellow Christians (I Assume you are a Christian), you seem not to make a real investigation before commenting on this matter. YOU DO NOT KNOW FOR SURE HOW ISLAMIC BANKING WILL TREAT PEOPLE WITH DIFFERENT FAITHS, But you still jump to conclusions. I believe comments and judgements based on hatred against one Religion or ethnic NOT constructive to anyone. you know, when it comes to religion in Ethiopia, there has for a long time been a DISEQUILIBRIUM and a POSITIVE CHANGE like this is highly needed. As for other Ethiopian Christians who are agaisnt Islamic Banking, learn about Christianity before defending it. Interest is not only outlawed by Islam but also by Christianity yet you dont obey the rules. Have you read the Bible (The Original One)? if not please read before spreading hatred in our country, Ethiopia.
09/08/10 @ 07:20
Comment from: A,l-Meles ya Al-Zenawi ya [Visitor]

Dear Maaza,

You have raised very good questions. Why do muslim do business? is not having a shop to charge people over the purchase price and make profit? why they want to close our mind,eyes because they are muslims?

If they are not as selfish as every human being, why they do not go to Monastry like 1 million Ethiopian monks who lives in secluded place with no real life. you own big businesses and you have 4 or 5 wives and you tell us you are different.

Why do we have to pretend as if everything they do is right?

Let me tell you, be it muslim or any human being, everyone is selfish and makes profit one way or the other. Is ALmouldi saving his money withot interest? if that was the case, there would not be a rich Muslims.

Ethiopians, do not compromise your liberty. If they want to live like everyone of us, let them live like everyone. they this is for us, for us,... it is not going to work in the long run. I must never live at the expense of anyone.

The Ethiopian government is a misguided one. They are planting a time bomb in Ethiopia. They never thing the long term effet. The Stupid thing Meles is he thinks everything he does will stay forever. He doe not know all he has done could be dismantled in one day as he dismantled that was instituted by derg.

Mr. Meles you are wrong again. Repeating mistakes. I think Meles must do one mistake every month or every week. Last week he said he devalued the money. This week he is opening an islamic bank. It is even boring to hear an islamic or an church bank. If churches and mosques want to do special business which treats them specially, let them change the mosque to mosque banking, or church banking.

Aye Aye Ethiopiawian, just waste our time talking about rhis rubbish things, ethnic, religion, ... ehhhh disgusting






09/08/10 @ 09:52
Comment from: Mohammed [Visitor]
I know there are many ignorant peoples on earth but not as much as NAZRET’s readers.
Gezaee H. Adisweqt Maaza and many others who commented on this article
First and most you all should ask questions such as …
Why Islamic Banking is needed? Who needed it? What is Islamic Banking or Islamic financing? What does my own belief says? And so on …. You can ask as many question as you could but be ready to learn or understand before your venom go through peoples mind.
What is Islamic Banking or Islamic financing? Islamic banking refers to a system of banking or banking activity that is consistent with the principles of Islamic law (Sharia) and its practical application through the development of Islamic economics. ... Sharia prohibits the payment or acceptance of interest fees for the lending and accepting of money respectively, (riba usury) for specific terms, as well as investing in businesses that provide goods or services considered contrary to its principles (haram forbidden). While these principles were used as the basis for a flourishing economy in earlier times, it is only in the late 20th century that a number of Islamic banks were formed to apply these principles to privet or semi-private commercial institutions within the Muslim community.
What does the Bible says about Interest or ( riba usury)
"If you lend money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him interest." In Exodus 22:25
"If one of your brethren becomes poor, and falls into poverty among you, then you shall help him, like a stranger or a sojourner, that he may live with you. Take no usury or interest from him; but fear your God, that your brother may live with you. You shall not lend him your money for usury, nor lend him your food for profit." Leviticus 25:35-37: You can read many verses from your bible regarding usury interest . It’s prohibited , prohibited ……prohibited….
Then who need this interest free bank or Islamic Bank? Since we Muslims have a system which can accommodate financial matters within a strict Islamic guide line we will strictly adhered for our faith and we practice it. This is not from no one whether from you or TPLF this is from the creator of this Universe. We don’t need the blessing of the Orthodox Church. We are Ethiopians we are entitled to involve in all matters of the nation. I’m not here to play the number game but with this significant number of Muslims community the country will not afford to marginalize us. For the past centuries that was the case and we all know as a result of that we left behind from the rest of the world.
If Ethiopia needs to materialize its antipoverty policy then the country should consider and embrace all people. If Christianity has a formula for such financial method then it’s welcome. Foul cry is take us nowhere.
As far as I know that many Ethiopian Muslims are traders and they need a system that handles their money without conflict to their belief so… since the conventional Banks (interest based bank) are not suitable for their need they have to find a way that is acceptable. NOTE if you are truly concerned for the country’s well being its indeed good idea to have Islamic Bank. You might say why? Do you know how much money under their sleeping bed or mattress? Bringing all this money to the economy seems to me ideal and we will have many bank users and the job opportunity will be opened up and so on.
If anyone who knows not about Islamic financing then he should Google for his own sake.


09/08/10 @ 10:24
Comment from: addis zemen [Visitor]
The problem about the relegion islam is,it can not be compatable with the modern day society. The more civilized the world is the farther the muslims go behind. What is a muslim bank anyway. Doesn't make any sense at all.
Eventhough christains show a great deal of tollerance,the aggressive approach of the muslims to take over the world could bring unavoidable conflict. Would the fourth world war be a religious war?the third being the cold war.
09/08/10 @ 11:29
Comment from: Tsimona [Visitor]
Sheria Law= Terrorism, bondage,backwardness,killing,stoning,hand and head cutting,undercover sodom and gomera,artificial hollyness(praying 5 times to showoff)berka for all women(to look like death)etc.......
09/08/10 @ 11:31
Comment from: Aprilia [Visitor]
Astta,

It is in florida, not california, not surprising though that you missed it, as you dont have any sense of direction for a place, in life or for anything.And no wonder that that scary looking, devil worshipping pastor invited you.It simply is a case of one devil worshiper inviting the other.
09/08/10 @ 13:29
Comment from: Gezaee H. [Visitor]

Dear Muslim commentators,

Please respect us as we do respect you.

Why u label us hate mongers when we tell you something is not right? why do you think everything has to be in your way? whY?

Ethiopia is the home of 86 million people. You are not better than any of them. We advocate a universal banking forevery one.

I personally agree and even know even in our bible it is written usury is not allowed. However, in the real world, no one lives according to that ideal. The same applies to muslim fellows too. They talk about this and that, but they are still human and they do not live according to thier ideals. Where did God say a muslim must have 4 wives? it is a construnction of humab being.

Please do not call us haters or any insult because we oppose your position. If someone does not agree with your way, you call him hater? that is not fair?
I am saying let us have one system that treats every citizen equally. Human being must never be treated by his religion or her religion. Since you do bussiness and illicit profit from consumers by selling products or services at a profit value, you have violated the usury already.

One of you also mentioned about Sharia. You can have it anywhere else. You can call me any name you want. But Ethiopia does not even need a smell of Sharia, leave alone
to have Sharia itself. We do not need it. It is oppressive and barbaric. Do not use young girls stoned to death in Somalia for having sex? is really sex a sin? why did God create sex? my sexual desire is not the creation of myself, it is my natural God given feeling? why I must be stoned to death of for having sex which is natural and God given? why did God design all that private part if I have to be put to death because of it? We do want that to happen even to our muslims. We will not allow it.

Let me tell what happened recently in Canada. There was a Canadian who opened a new company. The owner had to bid with 400 million Canadian dollar to open a mobile service. He won the bid. He intitially declared he had money of his own. But an Invetigation was done. Then it was found that money actually was not originated from Canada, but from Egypt and Saudi Arabia.

Dear Muslims, whether you like or not, you have to live like every body. We do not need an islamic amic bank, or Islamic economy, an islamic whatsoever. Next time, you are going to tell us you wanted an islamic military? an islamic city? an islamic airport? or an islamic repuic of Ethiopia.

Ethiopians, tell to our muslim brothers, we are not going to submit to their unfair, special treatment demand. Even if Meles does things today, we will dismantle it tomorrow.

We do need neither islamic bank nor christian bank. If Ethiopians muslims want Sharia, they must go to Suadi Arabia. The muslims like you will not treat with any dignity. You can live there for 30 years, they will not even give you a residence permit. Learn from Somalians if you can.

I personally believe muslims must never be given too much attention than they deserve. Religion and ethnic was supposed to be out of politics, but unfortunately, it is the main stream of Meles Zenawi.

This guy is saying it is not even TPLF which is giving the permission to build the bank. He is saying, it is given to him by his Allah. Even if Meles Zenawi covers them with gold and diamond, they will not remember it.

It is all about Muslim only. Live with your fellow kind and loving, God fearing Ethiopians. Do not create problem. Do not think Meles will have control on everything. If the anger boils over and it is not going to be good for all of us.

We need a secular system where people get treated equally. If there is something morally imperative to be improved, it has to be improved foreveryone , not only for Muslims. The theory of Muslim only is discriminatory and partial. God must not discriminate anyone.

If GOD was to come to thsi earth, I do not believe he would elect people by religion. Please while are not siding, do not push us to extreme while we are not in the exreme side.

I am advocating fairness, equality, impartiality to everyone. I do not beleive in the special treatment of any human being based on ethnic and religion. That is why I even oppose TPLF.

God bless all, please think for all people instead of for religious group or members. We all want live in peace, have bread, love. This is not for muslims.




09/08/10 @ 14:32
Comment from: Gezaee H. [Visitor]

Just add,

We do not need to waste our lives doing research on islam or sharia or even the christian bible. We have read all of them. All of them including the christian bible is far from are far from perfect. Thus no need to waste time doing research on the known truth.

The bad thing, if Muslims have an inclusive thinking, there is no reason why we could not accept their ideas, but their idea is one, only for muslims.

I met this muslim very recently while I was walking in Ottawa University. This guy really looks so nice and he approached me smiling. He said Alikum Selam. I said, Aselam Alikum just to respect him. Then we sat and was going to have a tea. I offered him to tea and he accepted my offer and we sat. Then we started chatting all sort of things. Politics, religion,... He eventually told me he interested to change the Law in Canada to Sharia. I was so shocked. A man who came to Canada to enjoy freedom in Canada he eventually dreams to change the Canadian law. The bad thing, he does not recognize other people will not accept it. He just believes he will do it. His ultimate dream is to change Canada to an Islamic state. I tried to convince him to work for t he betterment of all human being instead of one religion members. He told me openly Islam does not work like that. We only care about our muslim brothers and sisters. He is very educated and gentle, nice, handsome, but unfortunately he is set up already. There is no space in his brain to accommodate the rest of humanity except muslims. I do not blame him. I would be like that if I am set up in such an environment.

He told me he is attracted me. He told me I look liike ISA which is Jesus. I said thank you. He was disappointed when he found out I am not muslim. Then we departed.

I do not understand why our muslim fellows only think for muslims? why?

I think for the betterment of human being, not just one orthodox group. This must be the good reason Ethiopian Muslims enjoy unbounded love from their orthodox fellows.

I hope we get to our roots and respect each other and care about each other than taken for a ride by foreign ideals of islamic economy, islmaic bankm islamic state. This is crazy.
09/08/10 @ 14:53
Comment from: Maaza [Visitor]
A,l-Meles ya Al-Zenawi ya [Visitor]

ty for standing on my side; Adam and Eve should always create solidarity

Ogaden, Mohammed, truth...

You are very funny guys. Do you think every income that a Muslim merchant or entrepreneur receives is free from interest rate contamination? All the wages, rents, profits or rewards that Muslim business people enjoy in one way or another have changed hands at some interest paying or receiving entity. I may take loans at some interest rate and pay the monthly salary of a Muslim boy who runs errands for my petty business. Or I may also collect interest on money I have deposited at Banks and lend it to my Muslim neighbour interest free. But, even though I give him money gratis, the money itself had its origins from my interest income. I can mention several examples of such contamination.

Moreover, the idea of interest free banking works at the expense of the lender as it does not take into account the time variability in the value of money. Even though the bank shares profits with the borrowers, it does not guarantee that the lending person or institution will be compensated for the full inflationary effects that occur between lending money and collecting the principal alongside with the profits. In this way alternative investments that could bring higher returns will be overlooked.

Still won’t Muslims under report their profit performance? If the borrowing man or company says my profit is 50 000 birr, just we will trust him, take his words for granted and walk away? Do you mean Muslims by nature are honest, immune from falsehood and deception, or always altruistic? If Muslims do not vie for power, money and the trappings of the carnal world, how is it that many Muslim countries fight against each other, the Kuwait invasion by Iraq in the late 1980s, for instance? If Muslims do not care even for interest income on their money, how is it that the Somali people fight for the control of state power, subjugating and massacring their own brothers and sisters?

I do not buy all this bull shit about Sharia Law and Islam purity. It simply makes Muslims look like angels, which they are not. A Muslim has all built in evils and goods like any other fellow human and as such Muslims are liable to make mistakes, to cheat, to crave for more wealth and money, to kill, to plot, what you have.

Mohammed has mentioned above that interest collection is forbidden in the Bible too. So should we Christians demand that every commercial bank should give us money for free? If religious considerations must guide public policy directions and decisions, what is the value of adopting secular constitutions or governments? If there is anything called an Islamic Bank it should be functional in purely Islamic communities such as Saudi Arabia or Iran where the political leaders and the clerics are one and the same, as there is national consensus to be ruled by a Monarch or be governed according to the rules of the Quran. You cannot live in a Christian nation like Ethiopia and try to impose your Sharia law to do your business
09/08/10 @ 15:42
Comment from: Werner2010 [Visitor]
@Andinet & Truth,
what if a muslim person takes interest-free credit from regular Ethiopan banks, and open another account in one of the private banks and take the interest for his deposits there? If a muslim can claim that his religion forbids him any dealings envolving interests, a Christian can make the same point based on the Holy Bible. That is blatantly unfair practice to non-muslims. The government should strictly keep out of religious matters. For a government we should be simply citzens with equal rights and obligations before law.
09/08/10 @ 15:54
Comment from: Assta B. Gettu [Visitor]
My dear Ethiopian Christians and Jews,
Before you invest your hard-earned money into this deceptive Islamic banking, please read the following very interesting articles; then you can decide where to put your money:

Trade Financing of Islamic Banks
Trade financing of Islamic banks is the most deceitful technique. They use Mark-up, Leasing, Hire-purchase and Sell & buy back procedures. In each case, clients end up paying more than the original price, which is nothing but mirrored image of traditional interest based loan system.
An example will expose the true picture of Islamic banging. Mr. John Doe buys a nice car and gets the financing from a traditional bank. The price of the car is $30,000 and he agrees to pay $588 a month for 5 years at the rate of 6% interest. After 5 years he will pay $35,280, out of which $5,280 is interest.
Now, Mr Mohammad Akkelmond buys the same car and he decides to deal with an Islamic bank because of his religious pregnancy. Islamic bank will buy the car for $30,000 and Mr. Mohammad will agree to pay an amount of $35,280 after 5 years. Obviously, He will not be able to pay $35,280 at a time. So, they will agree that Mr. Mohammad would pay $588 per month for 5 years. Did the bank accept any interest? Naujibillah! (God forbid!), there is no such thing as interest.
Islamic banks also have loans with a service charge. Is service charge a form of interest? Islamic bowlers, I mean scholars will shake their beards and violently say, “NO”. Any reasonable person can see that the interest is merely hidden and relabeled, if not redefined.
Money has a time value. Today’s $30,000 is worth less the amount after 5 years. Also, many economists consider “interest” as “rent” on money. Therefore, when money is borrowed, we have to pay the rent to compensate the time value. Just like any rental, the interest is subject to change to reflect market conditions. The flexibility of changed interest may or may not help the consumer; lower rate is more auspicious than higher rate. However, the flexibility of changing rate is influenced by many factors and it’s the outcome of free economy.
Quran, the moronic book of Islam talks about prohibiting usury in four places (see ref. below). Interestingly, all of these verses mentioned “Riba”, which means usury and not “Faida” meaning interest. What is usury? According to Webster dictionary it does mean “interest” but it also classifies as, “an unconscionable or exorbitant rate or amount of interest; specific: interest in excess of a legal rate charged to a borrower for the money”.
Keeping the technicality aside, Quran is more specific about the topic, verse 30.39 dictates, “That which ye give in usury in order that it may increase on (other) people’s property hath no increase with Allah….”. In other words, money should not increase when borrowed. Aren’t the Islamic banks are doing exactly the same thing? Also, verse 3.130 confirms, “O ye who believe! Devour not usury, doubled and multiplied; but fear Allah; that ye may (really) prosper…”. Despite Allah’s warning, western countries are prospering very well with the help of interest based economy.
Verse 2.275 is very clear – “…..but Allah hath permitted trade and forbidden usury…”. Inspired by the verse, Islamic banks are pretending to do trade while investing the money to rip off the interest. According to most of the scholars, only one loan is acceptable in Islam and it’s called “qard-el-hassan” or literally good loan, where the lender does not charge any interest or additional amount over the money lent.
Mohammad was an unsuccessful businessman and he did not learn anything from his first wife Khadija, which inspired him to take a short cut and start “no money down-prophet hood” business. When Mohammad made all those verses, he had no idea of sophisticated interest-based banking system. While Islamic banks are taking interest under cover and professing “Profit & loss sharing” system, they are still having trouble in financing in different areas, such as, a) participating in long-term low-yield projects, b) financing the small businessman, c) granting non-participating loans to running businesses, and d) financing government borrowing.
Western countries are extremely flexible in adopting new system that seems to be beneficial. As mentioned earlier, Islam does not have the sole proprietorship of interest free banking system; Christianity shares the same proposition too. Yet no one talks about the hypothesis because modern economic machine is running very well.
In contrary, Islamic countries do not have the luxury to experiment new economic system. They should follow the proven system and recover from the current economic turmoil that they are going through. Not surprisingly, they won’t buzz because Islam takes top priority and not the citizen. Everything has to be Islamic, even if it leads to destruction. (Sunday, September 27th, 2009) —Ali Sina
Islamic Banging
Actually, it’s about Islamic banking. There is no need of correcting the typo because the premise of Islamic banking is nothing but banging the economy anyway, where banging should be interpreted in slang.
Economics has many siblings – Keynesian economics, Marxian economics, classical economics, etc. etc. and the new kid on the block is Islamic economics, based on the concept of “Riba” or interest free banking system. May be comical but it’s not economical at all. The new fashion of Islamic financing does not comply with modern economics or the Quran, it’s kind of transsexual, neither a male nor a female.
The macro economic concept of Quranic law gave birth to so-called interest free Islamic banking at a micro economic level. Malaysia in the mid-forties and Pakistan in the late fifties introduced small-scale interest free banking system. However, these two pre-matured babies did not survive. In 1963, Ahmed Al-Najjar of Egypt tried the system one more time and managed to outlive along with conventional banking. Soon at the beginning of seventies, abundant petro-dollars inspired bigots to create Islamic banks. In 1974, IDB (Islamic Development Bank) was formed by the OIC (Organization of Islamic Countries) to help member Muslim countries with a desperate attempt to isolate Muslim countries form rest of the world.
Until recently, more than 100 financial institutions are involved in this freaky business. Muslim apologists claim that Islamic banks of the world altogether have around $200 billion dollars in assets. Big deal! It’s a negligible amount compared to any other conventional banks. Bank of America of USA alone has over $700 billion dollars in assets. Conventional Banks are not supported by free money; they have evolved from natural economic phenomena. Whereas, Islamic banks are mostly state sponsored, if not fueled by free petro-dollars.
Islam is not the only religion that talks about Interest free banking; Christianity also has the same formula, hidden in their religious books. While interpreting, Matthew 13:12 and 25:29, Luke 19:26 and 8:18, Old Testament, Exodus 22:25, many scholars agree that accepting or paying interest is hazardous to people’s health. Seldom, they protest with a faint “m..e..o..w” like a cat but never try to make it an issue. They understand the impact of interest on modern economic machine.
The Federal Reserve System, shortly known as “the Fed,” is the central bank of the United States . It’s not a profit-making organization and it works independently within the government. Fed conducts nation’s monetary policy, regulates banking institutions, maintains the stability of the financial system and provides certain financial services. In order to maintain a fiscal discipline, Fed often changes the short-term interest rate that makes a tremendous affect on domestic economy and international market as well.
Dr. Alan Greenspan, the chairman of “Fed” is considered the God of monetary world. He carefully reviews different factors of economy with the board members and decides to change the interest rate. Dr. Greenspan is an admirer of Ayan Rand, the pioneer of “Objectivist movement” who advocated capitalism as a social and economic philosophy. Dr. Greespan has set a milestone in modern economics and he has been showered with honorary degrees from Harvard, Yale , Pennsylvania , Leuven ( Belgium ), Notre Dame, Wake Forest , Colgate, and Edinburgh universities. According to Islamic law, Mr. Greenspan will definitely go to hell and turn into Red-spank i.e. he will be spanked until he becomes red. More importantly, Dr. Greenspan is aware of interest free banking system but he would not dare to propose the stone age idea, because he does not want to turn USA into a poor Islamic country.
Islamic banks are practicing a twisted concept of current interest based economic system. Usually, Investment financing is done in three different ways.
1. Musharaka- Sounds like mushroom but it did not grow like mushrooms. It’s a joint venture between the bank and a business farm. They split loss and profit in a pre-arranged fashion. Bank may withdraw gradually after a certain period of time. However, Bank is making money out of the investment.
2. Mudarabha- Another idea of murdering the economy. In this peculiar system, bank contributes the money and the entrepreneur provides expertise, management and labor. Profits are shared by both the partners but lose is carried by the bank.
3. Estimated rate of return- The bank determines an estimated rate of return on a specific project. If the project makes more than estimated amount, the client keeps it but bank will take a lower amount if lose occurs.
The objective of a traditional bank is lending and securing money, it’s not a bank’s job to poke its nose in all ventures. When an entrepreneur submits a plan to build an industry, bank reviews the viability of the project but they are more concern of enough collateral. It’s the entrepreneur, who takes the risk with his/her last penny. On condition of receiving a percentage of interest, Bank will comfortably loan any amount of money as long as it’s secured.
Profit and Loss Sharing or “PLS” (not PLO), is the sweetened name of Islamic financing. The goal of an Islamic bank is ensuring the profitability of a project. An Islamic bank will never lend a dime unless it’s guaranteed that the project will make money. They surely don’t want to take a loss. A bank should finance various types of projects; it may be a chemical plant or a charcoal project, candy factory or panty hosiery. When an Islamic bank takes the position of an entrepreneur and tries to oversee each and every project, they become “Jack of all trades-master of none”. It’s impossible for a bank to have knowledge on various types of business. Nonetheless, Islamic banks are making profit a.k.a. interest on their invested money.
Trade financing of Islamic banks is the most deceitful technique. They use Mark-up, Leasing, Hire-purchase and Sell & buy back procedures. In each case, clients end up paying more than the original price, which is nothing but mirrored image of traditional interest based loan system.
An example will expose the true picture of Islamic banging. Mr. John Doe buys a nice car and gets the financing from a traditional bank. The price of the car is $30,000 and he agrees to pay $588 a month for 5 years at the rate of 6% interest. After 5 years he will pay $35,280, out of which $5,280 is interest.
Now, Mr Mohammad Akkelmond buys the same car and he decides to deal with an Islamic bank because of his religious pregnancy. Islamic bank will buy the car for $30,000 and Mr. Mohammad will agree to pay an amount of $35,280 after 5 years. Obviously, He will not be able to pay $35,280 at a time. So, they will agree that Mr. Mohammad would pay $588 per month for 5 years. Did the bank accept any interest? Naujibillah! (God forbid!), there is no such thing as interest.
Islamic banks also have loans with a service charge. Is service charge a form of interest? Islamic bowlers, I mean scholars will shake their beards and violently say, “NO”. Any reasonable person can see that the interest is merely hidden and relabeled, if not redefined.
Money has a time value. Today’s $30,000 is worth less the amount after 5 years. Also, many economists consider “interest” as “rent” on money. Therefore, when money is borrowed, we have to pay the rent to compensate the time value. Just like any rental, the interest is subject to change to reflect market conditions. The flexibility of changed interest may or may not help the consumer; lower rate is more auspicious than higher rate. However, the flexibility of changing rate is influenced by many factors and it’s the outcome of free economy.
Quran, the moronic book of Islam talks about prohibiting usury in four places (see ref. below). Interestingly, all of these verses mentioned “Riba”, which means usury and not “Faida” meaning interest. What is usury? According to Webster dictionary it does mean “interest” but it also classifies as, “an unconscionable or exorbitant rate or amount of interest; specific: interest in excess of a legal rate charged to a borrower for the money”.
Keeping the technicality aside, Quran is more specific about the topic, verse 30.39 dictates, “That which ye give in usury in order that [b]it may increase on (other) people’s property[/b] hath no increase with Allah….”. In other words, money should not increase when borrowed. Aren’t the Islamic banks are doing exactly the same thing? Also, verse 3.130 confirms, “O ye who believe! Devour not usury, doubled and multiplied; but fear Allah; that ye may (really) prosper…”. Despite Allah’s warning, western countries are prospering very well with the help of interest based economy.
Verse 2.275 is very clear – “…..but Allah hath permitted trade and forbidden usury…”. Inspired by the verse, Islamic banks are pretending to do trade while investing the money to rip off the interest. According to most of the scholars, only one loan is acceptable in Islam and it’s called “qard-el-hassan” or literally good loan, where the lender does not charge any interest or additional amount over the money lent.
Mohammad was an unsuccessful businessman and he did not learn anything from his first wife Khadija, which inspired him to take a short cut and start “no money down-prophet hood” business. When Mohammad made all those verses, he had no idea of sophisticated interest-based banking system. While Islamic banks are taking interest under cover and professing “Profit & loss sharing” system, they are still having trouble in financing in different areas, such as, a) participating in long-term low-yield projects, b) financing the small businessman, c) granting non-participating loans to running businesses, and d) financing government borrowing.
Western countries are extremely flexible in adopting new system that seems to be beneficial. As mentioned earlier, Islam does not have the sole proprietorship of interest free banking system; Christianity shares the same proposition too. Yet no one talks about the hypothesis because modern economic machine is running very well.
In contrary, Islamic countries do not have the luxury to experiment new economic system. They should follow the proven system and recover from the current economic turmoil that they are going through. Not surprisingly, they won’t buzz because Islam takes top priority and not the citizen. Everything has to be Islamic, even if it leads to destruction. (Saturday, October 24th, 2009) —Ali Sina



09/08/10 @ 16:20
Comment from: Mohammed [Visitor]
This a great news for all Ethiopian Muslims. It was about time that the gov't shows some respect for Muslims in Ethiopian since we are the backbone, eyes, hands ..etc of Ethiopia's economy. batrefa, Amhara Christians , I guess you guys can sit your ass and talk about how things were great centuries ago. You guys are good on nothing but WORE.
09/08/10 @ 17:23
Comment from: truth [Visitor]
Poor Assta, You are not only mentally challenged but also geographically challenged. You can not tell the difference between the state of Florida where your evil twin brother live and state of California.
We know the biggest bunch of hypocrites wear cross that says my god is better than your god. They have one arm around their bible and in the other hold sword to kill anyone who disagrees with them including Christians. You used to burn black churches in the name of Jesus and I don’t see a difference here.
I can see a picture of blond Jesus with blue eyes hunging in your wall.
09/08/10 @ 17:25
Comment from: borid [Visitor]
good idea ,but muslims watch out see the fruits before the tree dont be fouled by the name ,first let your muslim schulars MUFTEE approve it to you not by ethiopian national bank ,cause they will cover to u pork meet with lamp name , you have to check it and verified it, cause in these international economics crisis all are going to the islamic banking not because of the sake of islam or ALLAH swt but to suck up muslims wealth n more cribs n control be wise and aware with what going arround u brothers n sisters
09/08/10 @ 17:45
Comment from: Assta B. Gettu [Visitor]
Truth and Aprilia (visitors),

Don’t worry, I know where the absolute location of the burning of the satanic verses of the Quran is: I simply used the relative location to confuse the enemies – the Muhammadans. Very soon, other Churches will burn the Quran Muhammad received from the great Satan. Come and observe the funeral for your Quran, and its burial will be down at the Death Valley.
09/08/10 @ 19:26
Comment from: A,l-Meles ya Al-Zenawi ya [Visitor]


Dear Maaza,

I am proud of you lady. It is broad-minded orthodox believers who saved Islam for eternal demise. King Ezana told to the Arabs, you cannot touch this people since they are under my protection. But now after the orthodox church saved them and become more 1 billion memembes all over the world, they are insulting and talking malice, blasphemey about our church. This is really what Muslims do. Even if you gave your life for them, they will betray you. By islam Islam means Kedategna or unreliable or untruthworthy. No matter how good you are to a muslim, they do not know doing good in return.

The vibe now, everything is islamic. Even they jump on street asking if u are muslim? when you tell them you are not, they jump back and do not even say hi.

I do not understand why this muslims are obssessed with the name. They do not appy reason, it is just islam, dogmatic. No reason, just islam and muslim brothers and sisters only. A believer of God who discriminate people.

Assta, I like the well written argument and reasoning. Good work Assta.
09/08/10 @ 19:40
Comment from: Mohammed [Visitor]
Maaza and other ignorants
your contempt for Islam and Muslims are obvious. However, apart from your ability to articulate sentences the inner substance is null. Anyhow let’s see each of your insertions one by one. You gave us intense lecture on the contamination of usury interest within the whole trading system even on payments. Dear… first your question was … Do you think every income that a Muslim merchant or entrepreneur receives is free from interest rate contamination? Waw you became a Muslim scholar to give us lectures how the contaminations affect Muslims. Every sole is responsible of its action this is what Islamic ruling sees regarding what is sin. Therefore each and every individual is responsible for the money he earned but this does not mean that the person has to trace the origin of the money itself. Let’s say you have two Muslims employees and you pay them from what you gained at the bank from usury, interest or a profit from your liquor store. Since your employees are earned their money for their hard work they are not responsible about the origin of the money but if those guys worked for you at your liquor stores then they will be held accountable for selling alcohol rather than the interest money.
Your second point was regarding the technicality of how profit shared between the lender and the other body that technical part should be for the expertise not for me to comment. As Mazaa did I am not to mess around as knowledgeable person.
Also you pose question as a Christian to set up such system? My answer would be glad at list one step closer to purity. Hence bible has no framework for such advanced mechanism that will be impossible to form Banking system. You seem lettered but something drags you back from not overcoming your prejudice. Do you know who enforced Islamic Banking to inter into Ethiopian Financial sector? Not TPLF rather IMF offered money for its feasibility study by the request of NIB after initial refusal for Muslims request. Please overcome your hate and prejudice. Ethiopia is not a Christian nation but Muslims Christians non believer’s nation. You are in a dream team …wake up and smell your coffee
09/08/10 @ 19:59
Comment from: Adisweqt [Visitor]
Dear Mohammed,

You have insulted me on listing as ignorant with so many bigots. If there were more ignorants in Nazret readers group that in the whole world then rationalism as we know it would not make sense at all unless in yiur creep-ed mind. No offense but if the Islam financial service are the nirvana as your statements assure there would be equal citizens in the Sharia ruled countries and you know that is is not absolutely the truth. I ma still with you and your belief in that of teh intention the simple man and woman following Islam on not investing on Haram or not perusing interests. But to I have to distance my self when it comes to complex institutions that have been used to channel not only business allowing Haram but also financing the loss of life. Again I do not have nothing against Islamic financial Institution nor I am against even erecting a Mosque in ground zero or in Mesquel square but I beg to differ of all those zealots Muslims like you that think only them are the righteous and non corrupted in the human race (and morally above others) when I and you know that we are all equal on God's eyes
09/08/10 @ 22:06
Comment from: RAMATOHARA [Visitor]
As we all know most secular laws were drived from christan principles and then modified to accomodate everyone. In the same line it is not a problem to establish banking systems based on Islamic priciples as far as they are convinceing but it should be modefied and accessible equally for every citizen regardless of religion.

What we need to have is a secular banking system that is compatible with basic islamic principles and can accomodate christians and none believers as well equally. This will effectivelly avoid the risk of assciating a system to a particular religion. As such any banking or other system though based on this or that religious priciples shall first be able to accomodate others and then shall be given a secular name.
09/09/10 @ 06:10
Comment from: Gashe Ali Bekele [Visitor]
I can't understand my fellow Ethiopians specially the youngest generation.
You talk about Islam and Christianity. But you forget exactly how you are. You are neggers. You are africans.
Before Christianity there were Africans before Islam there were africans who were living in a place called horn of Africa: our ancestors.
They had the first civilization in the world. I’m sure that Somalians and Tigreans or Amaharas had been the some people: AXUM AND ZEYLA
We Ethiopians no matter our ethnie, we are africans.
Islam and Christianity are foreigners. I've nothing to do with Moses or Joseph or Ibrahim or Abraham...!
My ancestors are Ancient Egyptians, Nubians , Axums...!
Let's stop these religions of hate which are Islam and Christianity.
Let's ignore the foreign forces who want to divide us.
The young generation of Ethiopia, Eritrea Sudan Djibouti and Somalia have to remember that we are the same family we have the same culture the same civilization.
Don't let this religions of nonsense (Islam and Christianity) disturb our unity brotherhood development peace and wellness.
09/09/10 @ 08:59
Comment from: Ethiopiawenet [Visitor]
Halafi M. Are u nut? Why u tie terrist organization to Islamic Bank. Do tailor Germans to Nazis because of WWII. You guys write like Assta & his co which equate KKK of USA. I'' put you in the same pot.
Bliss, 25% of Ethiop. are orthodox and rulled the country for a century unfairly.
Meme, only evil people call others evil. You ask moslem to copy you which is Assta & Company's route. Out of touch mentality.
In short, fox learn a lesson from USA. Open your eyes and look at the world. Big tragedy took place and yet mosque is going to be built there. What's your take there. On the other hand a pastor who has only 50 followers try to burn Quran though he said he doesn't have slightest idea about it. What's your take here. Don't write rubbish street English full of insult/haterate. I am sure you guys will support the tiny/minute population like the pastor. Assta travelled there but missed the right place. He went to California instead of Florida. You see how low people you are. you cannot see the real picture of the current world. You see the feudal one. You see your own backward world and interpret it as it is. Sleep forever. Bite your brain.
09/09/10 @ 11:14
Comment from: Mimita [Visitor]

We know IMF is in control of our Control of our country, not TPLF. TPLF is a beggar organisation from the beginning, it facilitates the destruction of Ethiopia.


09/09/10 @ 11:31
Comment from: Guta [Visitor]
Huh?! Am confused. I thought TPLF troops are in Somalia to fight the fanatics who want to establish Sharia Law. I thought Ethiopia has no place for religious extrimists. I was wrong. Now that they got their foot in, the extrimists can spread their appendages and start to force us all wear Burka and kill our kids for watching western movies and soccer...thats a bad move. There should be no place for religious extrimism!!!!
09/09/10 @ 12:21
Comment from: Aprilia [Visitor]
Astta,

Your pastor has retreated, canceled his sick plan of burning the holy-book. He retreated leaving you poor thing all alone in the open. Where to go now,california, florida, how about you try Hell where you belong?

You see, this shows that hate and bigotry have no place in todays world,try to be more in tune with the reality, if only for your own good.
09/09/10 @ 18:11
Comment from: A,l-Meles ya Al-Zenawi ya [Visitor]
Anyone who does not subscribe to the barbaric and savage religion called islam is called ignorant.

Ethiopians, needless to try to communicate with the savage fellows of Mohammed the murderer. Mohammed mudered hundred thousands of Arab tribes. That is how islam came to exist. First he was a street boy in Meka kissing the black stone called Kabba. While he was living on the streets, Aisha who was running a shop took him in into her house. Then he used to wake up in the middle of the night and tell her he had a dream. Aisha had probelm understanding what this man was dreaming. But the reason he was waking up in the middle of the night by nightmare was because he was sleeping as street boy on the streets and living in house became a disease to him. He then started fighting with other tribes who do not belong to his tribe. He wiped out many hundred thousands Arab nomads and put on control the whole Arab. That is how Islam flourished from Meka to Badgad.

We need to nib the bud of Islam in Ethiopia before it bear fire. Islam carry out jihad? is there really called a holy war? how can war be a holy act?

Ethiopians, if you give a chance to these devils, they will wipe out Ethiopian and they will burn our people. They have done it before. The Ethiopian church owes the world peace because by saving this barbaric religion the world is terriffied by this savage religion. They even told us in this website that Ethiopia is second, thier religion is first. This must be taken seriously.

All the opposition need to come up with a workeable solution, otherwise the future our people is in danger. Take this guys very serious now than later. Ethiopia is now ruled by many hands, Arabs , Europeans, Chinese, Indianes, ... Ethiopia has become a green grass where many bulls fight over it. Arab bulls, western bulls, Indian bulls, Chinese bulls,... when the bulls fight over the green grass, it is the green grass which get tramped up by the bulls. Ethiopians are the greens Grass and the bulls are the barbaric aliens in Ethiopia. Who gathering the bulls, the bull shepherd which is TPLF. What the bull shepherd get? the bull shepherd gets a bounty from the bullls. When the bulls fight to control the green grass, the bull shepherd takes bribe from all the bulls and enjoy life, and the grass eaten by the bulls. I hope you understand this imagery.

Time to unite and defend Ethiopia



09/09/10 @ 18:23
Comment from: Enkuftu [Visitor]
Dear Assta B. Gettu and MHABERE ERKUSAN
Why you are killing your time. To convey your wishful dream in every Ethiopian website your analogy is nothing except hate, you’re unlike Jesus chariest but u say u are believer can you imagine if u were the world leader u will absolutely fit description of Adolf Hitler also I believe u are older generation of Ethiopia who does not reason out his thought in any matter most probably you are cripple in your mind as well as in your physical. I know u enjoying your disability somewhere in USA may be in Minnesota. You’re very lackey to leave among tolerant people.” Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that”.
One of philosopher say
The remarkable thing is that we really love our neighbor as

Assta B. Gettu
ourselves: we do unto others as we do unto ourselves. We hate others when we hate ourselves. We are tolerant toward others when we tolerate ourselves. We forgive others when we forgive ourselves. We are prone to sacrifice others when we are ready to sacrifice ourselves.

09/09/10 @ 19:47
Comment from: Abubaker [Visitor]
Dear, Truth and Andinet - thank you for your input in this dialoge. Truly appreciated. It is dicouraging when the uninformed comment on a pulse, not to mention the grammer and language! But then again we do not live in a perfect world!
09/09/10 @ 23:21
Comment from: Gragn Ahmed [Visitor]
The most venomous assta in disguise is this newly appointed missionery from Cananda, Gezaee.
He pretends he befriends muslims. BUt in reality he is a deceitful creature whose mission is to hate us Ethiopians.

First of all none of us know exactly know how the Bank works. Even the posted plagiarized comments of Assta are more technical than substance.

Such anti Islamic banks views are spread by those lazy jew and fanatic christian banks who pretend that they are much better banks than Sheria based banks.

They propagate the false notion that Sheria will take over on our lives as a law of the nation after this bank thing is over. Gezae is such an addict of anti Islamic culture.

We Muslim Ethiopians have been too much nice for these fanatic christians by ignoring our own values and giving you more respect than you deserve. We have to beg you to do us everything.

Now you claim that you will destroy everysytem that Meles is doing for Muslims. How can you claim to have such a rational mind and propose one Banking system? Who told you there is one Banking system only in the world? Is Europe Bank the same us American Bank?

It has been shown that the Islamic Banking system is low risk, recession proof and equitable economic banking system.

Chrisianity is a very shallow religion and the Bible is so vague in its promulgation of laws.

However Quran and Hadith have given us enough clarifications on the laws of Sehria including the banking system.

Our Prophet was a genius, PBUH. He gave us not only the spiritual guidance but also the guidance for our material needs.

So rest asssured that our Banking system is one of the best. The current capitalist system has shown to be unrelaible as we have witnessed time and again. Second, Islamic banks will not borrow or loan money for pork and alcholo related producs. so that is clean.

As to the interest, Islamic Banks operate in risk sharing and the price of the commodity is determined based not interest which is fixed as the time of transaction but through pricing of the item based on the current market offer.

So you may end up paying the same but the risks involved and the purpose of the transaction is not to make money or profit just by lending money but to give service and share risk mutaully.

Ethiopian will be Sheria based if these fantic christian push us to the limit by telling us do this do us and lecturing us what to do when they have no knowledge of what they want us to do.

Enough for us to be ruled by ignorant fanatic peoole of highland christians.

Gazaae, please don't put your stories that are maferia such as the one you said: the money comes from Egypt or so.

I don't care where the money comes from. What I need is a good reliable bank system that works for me..

It is about time we raise the Sheria law in our majority Muslim Ethiopia, and demand compensation from those fanatic christians who fragged our Muslim generation into backwardness.

NO more we swallow these garbages.

09/10/10 @ 00:29
Comment from: Zerayakob Yared [Visitor]


The same case also in here with that dialysis guy !!!




09/10/10 @ 02:42
Comment from: RAMATOHARA [Visitor]
Given what we are now hearing, we are forced to rethink our decision," Jones said. "So as of right now, we are not canceling the event, but we are suspending it."

Jones did not say whether the Quran burning could still be held Saturday, but he said he expected Musri to keep his word and expected "the imam in New York to back up one of his own men
09/10/10 @ 03:32
Comment from: RAMATOHARA [Visitor]
I don't tkink it is about interset issue. We know how muslim traders lie and decieve when they sell and by. Is it islamic?? Their main intention is to form Islamic republic of Ethiopia. They want to be dominant in every sector. They are brainwashed by the Arabs. They are no more Ethiopians!!! They should be treated like christians are being treated in saudiarabia of Iran. But there are a lot real muslim Ethiopians they perfectlly draw boundaries between culture, religion and country. Specially Gurage and wollo muslims are real Ethiopians. I hate those Silte(lebochu). Silte muslims are the devil horses for Arabs and weyane to ride over Ethiopia's interst. Those illitrate silte muslims most of whom are from the coutryside follow the worst version of Islam, wahabisim. They can't even read and write. They are in conflict with the mainstrem Ethiopian muslims to the extent that they have separated their mosque feeling they are the real muslims. They don't care about the wellbeing of their country. They don't deserve to be called Ethiopians. I hate them so much.
09/10/10 @ 03:46
Comment from: RAMATOHARA [Visitor]
If you travel to Saudiarabia with your bible they confisicate the bible and burn it or through it to garbage. If one governments do this thing what is the problem if one ordinary pastor burn the Quran?? Is it ok to burn bible but an insult to burn Quran? Why the muslims always feel inferiotity complex? They are as sensitive as a child. It is like taking playing toy from a child, he automatically cry even if you took it for his own sake. As a parent if you knew what your kid doing is not safe form him or others you have to forbid him evenif he cries a day long. The same is true for muslims. We have to babysit them otherwise they don't know they are playing with fire.
09/10/10 @ 04:00
Comment from: truth [Visitor]

Funny now people demanding and getting a bank where they can deposit their hard earned money, the rest of thevolutures living off people’s money start to panic. Calm down people no one taking away your contaminated money. You do what you want to do with it.

09/10/10 @ 04:49
Comment from: truth [Visitor]

Let me ask ask you. Would you oppose if someone don't want to take his family to Las Vegas or want to stay in non-ca$ino hotels?
Would you oppose if someone asks for a kosher only restaurant?
Would you oppose if some one asks for a restaurant where they don't serve alcohol orpork?
If you say no to any of these then, I don't see a reason why you would oppose if someone asks for a bank where he can park his money interest free unless of course you have some hidden agenda.
09/10/10 @ 04:54
Comment from: truth [Visitor]
Maaza Mozaza,
First you ask a question like an innocent by stander. Now you start to mix your ignorance with your hate, prejudice toward Muslims bringing that infamous mantra of Ethiopia a Christian land.
No one said all Muslims are angles or immune from doing a crime. For those few there is ARADA Bank, Aba Kemaw International Bank, JIB Bank and so on readily available to accept them as valued customer.
09/10/10 @ 05:28
Comment from: Gezaee H., [Visitor]
Gragn,

Thank you. I cannot talk with you. I am not talking about not othodox. I was talking about a system that accommodates everyone. I did not say we have to have an othodox bank or an othodox country or an orthodox city or ....

Gragn, you do have a deep rooted problem, say what? you an extremists like the other extremists. You jump to your islam when we talk about any issue.
That is what you are. I still have Muslim friends, but they do not think rubbish like you. They are civilized. I have Muslim girls friends, and men, my muslim girl friends are not fond of your Sharia law. They actually have established movenments anti Sharia which is now kicking off in many Arab countries eg, Quwuiet, Malasysia....

Islam is oppressive religion,... even Allah has only one language in Islam. That is an Arabic language. Allah of Islam cannot hear any other langauge or does not recognize other cultures or values.

Islam denies nations their language , culture, anything that is indigeneous. Islam cannot integrate into nations peacefully except by force. Look todays Turkey, The turkeys were not Muslims, ... but they became muslims by force. When the Ottoman invaded them, those who accepted islam, they were spared and those who refused islam, they were killed. This was done in many countries which are now muslims.

Even in Ethiopia, you guys burnt all the churches from Degahabur to Massawa. Your burnt everything. Why do you think all the churches in Ethiopia are on mountains and under-ground, it is because of islam. You cannot live with other culture or langauge without destroying it. I

The God of Christianity respects all nations with their culture with values and laguages. you can see how many Christians go into Iraq and Afganistan and even to Somalia and help people. you do not see an Arab taking any risk to do that. You can see many christians charities who help all human with no questioning the religion of the person. There is no such mission in Islam, if there is one, it is only for Muslims. If two needy people go to a Christian charity, both will be treated equally. No one will ask them about their religion. But if you go to a Muslim charity? The first question will be are you Muslim?

The one may say, yes, and he will be taken. If the second says, no, they will not even give him water or anything they will chase him. Islam is discriminates human being. God must not discriminate people. As I told you before I used to love Muslims having the generousity of the ones in Ethiopia. But the muslim in Ethiopia are generous and nice, not because of islam, but because they are Ethiopian. Gragn, if you become a refugee in Suadi Arabia, the epicenter of islam as a muslim and you will hate islam. If you do not believe me, ask Somalians, they will tell you, Arabs are the most cruelest people on the planet. If you see Somalians, they are the most kind and open hearted people and who give you everything they have if they like you. But the Arabs are not like that. There is nothing special about islam. Thus we will not give any attention to it. Meles is building mosques, banks, because he is shigaram and loves money and he can do anything if anyone give him money. I do beleive if one nationalist Ethiopian comes, everything the evil Meles will be rooted out. We want a system that respect all Ethiopian. We do not want a religion that discriminate people. No to discrimination. Finish.

The only Muslim help they offer to Somalians is guns and bullets. If Islam is good? why you could not help the Somalians in the past 20 years? Children dying , women dying? why you muslims could not help them? what happened to islam or Allaha? must I say Allah hates Somalians? The Arabs have money and if they were good muslims as they claim , they have the money and the islam to help them. But they are as selfish as Christians and as selfish as anyonee else.

If you come to immorality? Arab Muslims are mor immorals than anyone. Their men are sex dogs than any men. They can hunt women for sex, they look like a dog that see meat when they see woman? they cannot even control themselves?. That is why a woman cannot walk alone in Meka. What happened to islam? what happened to Sharia? if a woman walk alone in Suadia Arabia, she get raped and even disappear from the streets? why Suadi Arabia such a dangerous place for women ? what happened to Sharia? Why are women put death for having sex? why are men alllowed to fuck around?

No Sharia in Ethiopia? no ways?

We need a secular system that respect all human and with their values. We do not need Allah who cannot hear our langauge. Allah cannot hear Amharic? Allah cannot hear Tigrigea?

We want an Allah who can hear any language and that is the God of Christian. If Allah could hear me in other langauge and respect my language and treat me well, there is no any reason I do not follow the Allah of Islam. But the Allah of islam stones young girls to death for having sex? why? is it not Allah or God who created sex?

No Sharia, no compromise
09/10/10 @ 12:39
Comment from: gere [Visitor]
Does this mean thet when any muslim wants interest to his deposit he/she put it in non muslim bank, and if he/she wants interest free loan he can get it from muslim bank?Can any body explain how this works?
09/10/10 @ 14:05
Comment from: yoni [Visitor]


Gragne ahmed

"I don't care where the money comes from. What I need is a good reliable bank system that works for me.."

That is the dumbest thing i have ever heard...luckily our govt regulates where money comes from...

Only if you knew how our bank system works...

Infact, this proposal may never work as the system wont allow and will destroy middle-east involvements.
09/10/10 @ 14:31
Comment from: Assafa, Now Mussafa of San jose. [Visitor]
People die in the street of Addis every day. I see thousands of Christian children and Muslim children by the door way of the mousque begging. I don't see any one that walks out of the mosque asking their religion prior to handing them money. It is unfortunate and eye opening to see how Muslims are viewed and treated by our "Christian brothers." “Ethiopia is a Christian Nation?” “kit attabi Islam?” Nice Job people nice Job!

Muhammad and the other braves, I used to be a Christian and I’ll tell you what, most Christians don’t share the views of The “Assat” of the world so please forgive them I hope they see light (as I did) and come toward it.
09/11/10 @ 04:49
Comment from: kebede [Visitor]

Bloomberg said last week that global sales of Islamic bonds fell 25 per cent to $8.3 billion so far this year. A total of $20.2 billion was sold last year.
7.21 PM Saturday, 11 September 2010
Islamic bonds are making a killing these days

Islamic banking is very misleading term; yes you might not get interest on your saving accounts to comply with Shariah law but ARABS are not foolish. They do have ISLAMIC BOND(Sukuku). This are like zero coupon bonds that pays you an amount at maturity. Obliviously people that write a comment a phrase about Ethiopian National Bank new are very naïve, and don’t now about Finance. The Arabs are not stupid, no one will invest their e petro dollar without a financial return or profit.
09/11/10 @ 11:41
Comment from: Senay [Visitor]
We do love and respect our Ethiopian Moselem brothers and sisters. But we swear by the living God, We hate all the Arabs and it is wise for them to stay away from our country !
09/11/10 @ 14:46
Comment from: Ethiopiawenet [Visitor]
We used to say we all are Ethiopians but the Assta & co. refuted that. They instigated religion war. He lied about his travel (California instead of Florida). All his writings are street gang English like rapist, threats, and so on. Assta started to teach English too to those who exposed his devil deeds. When I mispelled please to place, he failed me in English.
Well you guys pay your condolence to Assta for his in vain mission to Florida. The whole world condemned it except Assta's & Co and lost. Please do not come to Ethiopia. We don't want a handicapped mentallity.
Gezaee, I don't know if you make the story up about a single man or not but you see everything in a narrow prism. See the other side of the coin. Your side. You are like the guy above. Both of you are at the same end of the rope. Idiots, ignorant who do not believe in variety or diversity of everything. Do not spread fear or evil. Take USA and learn. Still in USA there are few fanatics but the constitution protects all. If we've people like you guys then the world will be at great risk. Please do not imitate as if you don't know Islam. You just to try turn it upside down like some moslems do to christianity.
09/11/10 @ 22:22
Comment from: Mr Fair [Visitor]
Assta B. Gettu

The bigots you admire might be able to burn the mus-haf(the book in which the whole Quran is written) but they will never have the ability to burn the Quran (The actual words of God).
Those actual words of God are engraved in the hearts of millions of Muslims and Allah promised to protect it.

إِنَّا نَحْنُ نَزَّلْنَا الذِّكْرَ وَإِنَّا لَهُ لَحَافِظُون
"We have, without doubt sent down the Message; and We will assuredly guard it (from corruption)"
Quran 15:9

That is why the Quran is completely memorized by millions of people some of them as young as eight.
I have no doubt that you can find thousands of those memorizers in Addis Ababa but you can not find a single person who memorized the whole Bible.

Have you ever seen a single person who memorized the the whole Bible?
I know there are Bible thumpers(those who can find some sentences fast by flipping the pages) but there are no Bible memorizers.
09/11/10 @ 23:07
Comment from: peace for peace [Visitor] Email


A,I-Meles ya AL-Zenawi...


You sound like FARA COWBOY from
balagger area. can you find and understand the word unite in the dictionary.
3 Ethiopian christians can not stop 33 Ethiopian muslims even if they add another 3 twice they remain 9 desperat christians.
the unity of GOD (ISLAM) remain dominant over the TRINITY OF GODS(CHRISTANITY).
jESUS said o people of israel your lord is one your LORD is GOD this is the comandments of all. Beside that the oness (unity)of God was the religion of NOAH,ABRAHAM,JACOB,ISMAEL,DEVID,JOSEPH,MOSS,JESUS,MOHAMMED PEACE BE UPON THEM. But trinity was the religion of st paule who was the enemy of JESUS. He wrote fiction and pass it to the Roman empire (his people)and they call it holy book of trinity. After all ROMANS CREATED THE FIRST MAN MADE RELIGION AND THEY CALL IT CHRISTANITY THEY CALL THE GUY ST PAUL the founder of christanity or trinity of Gods from old europe which ALMITY GOD NEVER ARISE A SINGLE PROPHET OUT OF THEM.

ADDIS ZEMEN

What happen to your brilliant way of thinking about democracy in ethiopia.which allways posetive and constractive. I AM REALY DISAPPOINTED IN YOU THAT ANY THING ABOUT ISLAM IN THIS SITE YOU HAVE BEEN RIGHTING WAS THE SAME AS astta b getu. wow....addis i did not know u r fake dimocrat . your way of understading of democracy in ethiopia should include ethiopian muslims right as PM MELES SAID IT.

JUST B/C U R CHRISTIAN.........DONT BE AGANEST MUSLIMS. ALEBELEZIYA LEBA SISERK ENGGE SIKAFEL AYISMAMAM LITIHONU NEW Ke Assta B.Getu gara.

Assta B(BUSHTIW)Getu.

Muslims are not responsible for your (HIV)POSETIVENESS OR YOUR FIRSTRATION Y R RESPONSIBLE FOR YOUR SICKNESS.WE KNOW EACH ATHER
U HATE EVRY RELIGION POLITICAL PARTY,ALL TRIBS OTHER THAN YOURS ALL IDEAS ATHER THAN YOURS ALL COMMENTS ATHER THAN YOURS. But u went far on muslims.u better stop, if u dont i will exposs all your info....remember why u move from boston to LA, remember how u lost your job in LA,REMEMBER what you did to those inocent ethiopia teenagers.???!!!
09/12/10 @ 02:40
Comment from: Wolamo [Visitor]

Islam has never been a peaceful religion. Starting from the beginning up to now. First, they were defeated in Suadi Arabia and fled to Ethiopia. After surviving in Ethiopia, they went back to Suadi Arabia. They rocked the whole middle east with war, Mohammed fought with the tribes to consolidate power. He won the war led by him and supported by his tribe. Then the war never stopped upto today. When Mohammed died, the throne was passed to his brother. The war went on not only against non-Mohammed fellowers, but also within the rank of the Mohammed's fellowers. Many assassinations took place for power struggle within the ranks of Mohammed's fellowers. Power of islam never got out of Mohammed's tribes until today. And we see today the Sunni and Shites hate each other. This was due to the fact that the Shites own islam and think they are entitled to lead islam forever because islam was the product of an invest of their kins man, Mohammed. The Sunnis became muslim by the conquest of the shites lead by pedigree of Mohammed. The Shites now look down upon the Sunnis because Mohammed was Shite nad consider the Sunnis as second grade muslims.

Therefore, without being biased, Islam has never been a peaceful religion from the outset.

To tell the truth, the crime committed by islam and christian followers is beyond ones imagination. Islam has massacred millions of people in the name of Allah from its early days upto now. The Arab themselves were the first victim of islam and they just now accepted and got cultured into it and when the wrong thing is applied for long time; it becomes normal.

Christianity, in the name of christianity, if we see the inquisition in Europe. The Romans massacred 2 million women in the whole Europe accusing them whitch craft. And the colonization of the whole world was spear-headed by the christians.

To be frank, I am an orthodox believer; I do believe, Ethiopians orthodox christian are the only people who followed God without committing crime or without killing anyone. I am prepared to serve God in the spirit of Ethiopian faith. It is a true faith. You can see our people , about one million people live in an absolute deprivation of material life and dedicated thier lives to God.

Ethiopia needs to be cleaned from Islam, the other hypocratic christians like pentes who are messing our faith.

I hope God help us to reach the ultimate spiritual height to be the best model on this planet were people get treated with integrity and dignity and without any religious bias

Our people are rich spiritually. I better be rich spiritually than rich materiallly.

The Ethiopian orthodox needs to wake up and work independenly. Ethiopia must not be follow the sinful world. Ethiopia has a unique history of spirituality and humanity. It is our christian king who welcomed Muslims and sheltered them in his palace. Emperor Ezana. But Muslims put onfire our churches and our priests alive.

The hypocrat muslims talk about Halal, halal what? halal for what? you kill innocent citizens of the world in cold blooded and tell about purity? the purity of killing people? Have ever anyone seen muslims protesting against the 9\11? or any other terrorists killings ? they do not oppose violence. They kept quiet. Most muslims support violence.

When American invaded Iraq, the citizen of Europe, Australia, ... opposed the invastion. But when Bin laden stroke the twin tower? Mulsims were laughing and greating with the happiness. How can a human being who worship God bless the killng of human? Ethiopian muslims please appy your conscience and do what is right. Why is a war holy?

Muslims can build mosque in Ground zero in Ameria, but we must not allow them to do in our sacred, consecreted, holy, sanctified land, Ethiopia. Ethiopia is not America. Ethiopia is Ethiopia.

Wake up felas, do something good for all Ethiopian. Do not allow any religion that does not respect all Ethiopians. The God of the Orhodox christian in Ethiopia is the God of all people, not only orthodox believers. The orthodox church has never killed any one or never violated the right of anyone.

God orthodox, a faith of love, and peace



09/12/10 @ 14:05

Comments are closed for this post.

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