HOW SHARIAH COMPLIANT IS ALBARAKA BANK REALLY?

please visit our new site.

www.albshariahcompliance.co.za

sorry about not getting into the new site . The Reason being albaraka bank is trying to sue the Upholders Of The Truth. Can falsehood last ? We should be up and running in a few days time.

As-Salaamu Alaikum

Respected Brothers and Sisters in Islam

Challenge!

As a layman I recently came across an email regarding Al-Baraka Bank and its Shariah compliance.

I managed to get hold of the Islamic publication that ALB's email spoke about. A lot of questions started crossing my mind regarding the profits that I receive from the Bank and if our Brothers and Sisters working in the Bank are aware of nature of their earnings.

Upon further investigation I found additional fatwa's from different Darul Ifta's and Senior Ulama. Kindly find these below.

I think as Muslims it is our duty to get clarification on these matters. We need to get clear answers from those of our Ulama that we follow in all other decisions in our life.

Most important is to ask whether the money we earning from the Bank is Halaal? We are feeding our children, our parents and family? What type of charity are we giving out?

Please forward this email to all Muslims.

I urge you to ask the Bank to accept the challenge of the Darul-Ulooms in our country and the Darul-Ulooms to agree to meet the bank and guide them on the straight path. After all the bank is the custodian of our money and the Ulama are the custodians of Shariah.



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This Shoayb Omar did some crash course in Islamic studies for a few months and he now wants to dictate to the Ulama. He was the real trouble maker in the whole MPL issue. He bluffed the Ulama into believing that what he was doing was for shariah. When the Ulama opened their eyes and realised what was carrying on, Molana Yunus Patel had to comment that all the Ulama are in 100% agreement that this cannot be shariah.

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This reminds me, why is Mufti Shafiq not coming forward with the guarantee that the bushra deal was 100% in accordance with shariah.

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Now it is not just a few junior Aalims that are upset about this false image of Islamic banking. I mean senior Ulama, very senior Ulama have come to the point where they are openly drawing swords for Mufti Taqi Osmani.

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You have to read this article above. It will send shivers down your spine. I know the people always say that the Majlis is a radical, fanatical, ultra orthodox and fundamentalist. But the surprising thing is that these are not his words (besides the introduction). These are the words of the Shaikhul Hadith of one of the biggest and most famous Darul Ulooms in the world. We can’t just brush it aside as nonsense. These senior Ulama always know when to respect difference of opinion and when things have gone too far. Things must have reached an extreme level for them to come out in public like this.

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Salaams

Thank you for your email about Albaraka Bank. I think the protest would be a good idea. However please contact me telephonically as I wish to discuss more drastic measures.


POSTS FROM YOUR EMAILS
FRIDAY 6 JUNE 2008.


YUSUF
Who do we go to for info on any contracts we have signed with Albaraka bank?
Is all the banks contracts haraam?

Laher
Is the Ulama ready to challenge the bank on Shariah matters?

Ismail
I think all the imaams need to stand up on a Friday and inform the Muslim about this banks wrong doings and they should help stop them using the name of Islam!!!!!!!!!

Maryam
I didn’t know that the bank allows the young girls to travel to Durban for meetings and training alone. Where is the so called Shariah department ? what Shariah advise are they giving the bank? I think the Shariah board should be fired first for not guiding the bank on basic Islam knowledge.

NAZLEY
I’m a shame at the way a so called Islamic institution behaves ###

Moosa
When is the protest taking place?

Sakir
I have signed a Musharaka agreement in 2005 is my contract Shariah compliant or not ?

Aneesa
Who do we take this matter up with? Will we get a refund from the bank for the interest they charged us?

Zahid
What is the MPL issue?

Essop
I’m ready to challenge the enemies of Allah and Islam. I think I heard that in the HOLY QURAAN Allah tells us of two people that HE declares war on, one is the person that is involved in interest, is that true?

Isaaq
Did you know that Albaraka bank use an old internet story from their web page of 2002 , to reply the fatwa.

Yaseen
Do we need to see a lawyer about our contracts? If it is not Shariah compliant what do we do?

Idirs
What about Albaraka bank in the Jamiat’s building? Are they in agreement that the banks transactions are Shariah compliant? If the Jamiat’s approves the banks dealing then I don’t have a problem. They are our guidance in deen!

Yumna
I need my money out from the bank before it’s too late!

Amina
After reading the article above I would like to know if the bank still follows the aaoifi standards of Shariah? Is this the same Mufti that is guiding the bank?

Shereen
Is the AAOIFI a new masheb? What is it ?

Zaki
we should address the "Shariah compliance" issue more wholistically,it should include wesbank, absa and oasis, as well as any otherorganisation that is claiming this status, also we should outline specifically where and what this international body of standards is failing on.

Zaki
please re label your site to properly encompass all that are running onthe so called "Shariah Compliant" spin, Absa, Oasis, FNB, Sanlam etc etc should all be named together with Albaraka and should also be taken to task on a joint platform as they are all claiming Shariah compliant status.

Abu Bakr
Please forward me your telephonic details, I need to discuss something directly with you as a matter of urgency
Jazakallah
Salaams

THIS WAS A SUGGESTION FROM A CONCERNED MUSLIM:
1. Clients who have problems with their contracts with Albaraka should file compliant with the BANKING OMBUDSMAN.
2. Lay compliants with the CONSUMER AFFAIRS
3. Make complaints to the ADVERTISING STANDARDS AUTHORITY
4. Get a petition and approch the NATIONAL CREDIT REGULATOR
5. Approch the FINANCIAL SERVICES BOARD
6. Approch the AUDITORS viz KPMG as the bank is breaching Corporate Governance and its own Consititution
7. Obtain proxies from share holders and attend the Annual General Meeting (AGM) which apparently is going to be held on
19 June 2008.

Saturday / Sunday 7/8 JUNE 2008.
YOUR EMAILS

PLEASE NOTE :
I am not inclined to discuss contentious issue over the phone. My experience is that there usually develops misunderstanding from telephonic discussions. Whatever you wish to discuss, please send an e-mail. I shall, Insha'Allah, attend to it URGENTLY.

Mogamedi
I was present at a Sahuc meeting on Saturday in Cape Town and information that we heard was that Al-Baraka Bank had a legal case against them. I later found out that there is more than one case against them. Sahuc decided not to use Al-Baraka Bank.
I think that they are one of the many intuitions that can help make a difference.
Thumbs up!!! For the stand you (Sahuc) choose in the course of the Islam & the Muslims.

Ebrahim
Where are all the big Ulama that are always ready to march for the course of deen?
Why are they not checking on this matter?
Is all the Ulama on the payroll of the banks?
When it suits them they are in the forefront of the march giving big lectures and making big duaa’s against the enemies of Islam!
As Ulama do they not believe in the words of our Allah?
The one involved in interest is the enemies of Allah and the Ulama can’t speak out openly? Why? All the Daarul Ulooms and these Mufti’s on radio should make an open statement regarding the bank and its dealings. You are the custodians of our deen don’t let the money and friendship throw your hereafter way!!!!!!!!!!!!!!!!

Julie
Where is this AGM taking place?

Tas005
Beware before taking action against the bank get all your documents in order, because documents disappear only when they are questioned? I have witnessed this from three clients that are involved in a legal battle with us!

Zanib
Is the staff of albaraka bank not aware that they to shall be questioned on the harram dealings that they are signing on behalf of the bank?

Fareed
Where is the banks Shariah department “mufti Shafiq” why is he not signing the contract of Bushra?

Boetie
The first good thing Sahuc did for the Muslims.


Shabbir
Why is the Jamiat’s not getting involved in this matter what is their opinion?

Monday 9 June 2008
Your emails

Riaz
I hope our Ulama are reading this and do or say something before it’s gone too far.

Bushra
Please stop using my trading name in your quest. There must be thousands of Musharaka contracts out there that are the same as mine. Please use a different client as an example. I am busy with a legal case against the bank and would not like you to jump to any conclusions before the time. I hope you understand.

Abdullah
Why doesn’t alb just take off the slogans “the Islamic way” from their ads and remove ads that claim that they are “Shariah compliant”. They just need to admit that they operate like any other commercial bank and the problems would be over. Then we know its interest and it would be our choice to deal or not to deal with them.

Mohammed
Is the bank going to pay all the clients back the money that was interest?

Hamza
The new contracts the bank has a clause that you have no rights in the matter of a dispute, the so called Shariah Board has the final say. Beware of this new contract if you still thinking of doing a transaction with them. Is this Islamic ? Will the Shariah board please answer.

Mubeen
Why is the Jamiat allowing the Bank to operate from the premises of the Jamiat when they know the Jamiat building does not belong the members of the Jamiat but to the Muslims in general.

Yunus
What deal is this Bushra making with the bank? Is he a sell out in the course of Islam?

Munira
I think that some Ulama are aware that the dealings of the bank is not Shariah compliant especially Radio Islam because before the ads of Albaraka bank is played they have a disclaimer ad in place. Unfortunately money is more important to these ulama than the Deen they believe in! They selling our islam for this worldly gains.

AminC
Can we have a protest outside Al-baraka Bank on the day the (AGM) takes place?
This should give the investors something to think about before mocking our religion.

SharizM
Does anyone know what happen to the case with a few travel agents in Durban and the bank ? how was that case settled ? Did they have a fair arbitration?

Abu
They are down right arrogent and continue to indulge in false advertising and misleading the public into beliveing that they are "Islamic" and "Shariah compliant". Their deception and farce and scam needs to be checked and stoped dead in its tracks.

Concern Muslim
It’s simple these aalims are involved with the bank in so many ways how can they speak against the bank they are all on the receiving end, so go figure!

Rashid
The bank is on a major drive to win support in the muslim community , they are giving money to everyone and all in the name of the bank. Oh yes did they forget to mention that the money they are giving you as a gesture of good will is from their “Iqraa Fund” in short it’s the interest money that they earn from the commercial banks and they feeding our people with interest. Shame on the bank.

Hassan87
The bank has stopped all staff members from reading and forwarding this web site to anyone. Why are they afraid? Are they worried that the staff will lose more conferdance in the bank, or that their will see what the bank is really upto?

Imran
I think that a protest would not help outside the bank? We need to protest outside the homes of the executive committees members. This way the people can see what their neighbours are doing.

Junaid
If the bank can give me a guarantee that the ulama in South Africa agree with them i don’t have problem with it. After all these are the imams we follow here. Im not interested in the big names in India and elsewhere.

Yasmeen
What does the bank say about all this statements against them ? Do they agree?


Big news a must read

THE ONLY ORGANIZATION TO STAND UP TO THE (RIBA HOUSE) ALBARAKA BANK OPENLY.
ARE THERE ANY REAL ORGANIZATIONS LIKE THIS LEFT?

The Board of Directors 14th Safar 1429
Al Barakah Bank Ltd. South Africa 22nd February 2008

Respected Brothers in Islam

Assalaamu alaykum wa rahmatullahi wa barakatuh

RE: Letter dated 28th December 2007

We are in receipt of the letter of the CEO, Shabir Chohan, dated 28 December 2007. Before addressing the issues raised therein, we feel it appropriate to give some background information that would put the current situation in perspective.
The Jamiatul Ulama (KwaZulu Natal) is the foremost Ulama body in the province of Kwa Zulu Natal and enjoys the broad based support of the Muslim community. We are engaged in a range of activities whereby we assist the Muslim community in matters of their Deen.

Since South Africa is a non-Muslim state, Muslims have no means of enforcing their Islamic rights via the court system. However, Muslims wanting to conduct their affairs according to Islam make use of the Jamiat to arbitrate their matters and the decisions of the Jamiat via the process of arbitration are upheld by the courts. This remains the only viable means whereby Deeni conscience individuals may enforce their Islamic rights.

The Ulama are the custodians of the Shariah, and have a duty to give guidance to the Muslim pubic. Part of the duty of the Ulama is to monitor organizations working in the name of Islam, and to advise the public in respect to their status. The lay person is not equipped to determine whether a particular organization is truly Islamic or not.

The Jamiat had never approved of the Bank, and maintained a neutral position on the Islamic status of the Bank. However, a major change in attitude came about during December of 2004. On 24 October 2004 the then Shariah Advisor of the Bank, Maulana Shoayb Joosab, resigned. He cited as his reasons "various wrongs that Albaraka bank is indulging in which is contrary to Shariah". Since the Jamiat is the leading Islamic body in the province, and upon whom the community relies, Maulana raised the matter with us. The first hand information that Maulana had was of a very serious nature, his evidence was compelling. His version of events painted a dismal picture of the Shariah Compliance and Islamic ethos of the Bank. The matter was indeed serious.

Accordingly we asked for a meeting with the Bank, and members of the executive came to our offices. The then CEO Mr. Thys McLean, the present CEO Mr. Shabir Chohan represented the Bank. The Shariah department was represented by Mr. M.S. Omar. At this meeting, to the surprise of all our members in attendance, the delegation of the Bank acknowledged that the Bank did indeed have problems in respect to Shariah Compliance.

There was a clear and unambiguous admission that the Bank was not yet Shariah Compliant. The plea of the Bank was that the Jamiat grant it time to get its act in order.
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One should bear in mind that the Bank was founded in 1989, and was then in operation for 15 years. In all these years it had portrayed itself as being fully Shariah Compliant and the only Islamic Bank in the country.
The representatives of the Bank requested for time to address the deficiencies and correct the wrongs that existed.
Following this meeting two views emerged amongst our members. Some felt we had a duty to inform the public and request them to withdraw their funds from the Bank. A second group held that since the executive members of the Bank were repentant and wanted some time to sort out their affairs, a fair respite should be extended to them.

The second view then prevailed.
Since then we have not heard from the Bank as to whether they have reached the target of being fully fledged Shariah Compliant.
In the past year or so the Jamiat has received a number of complaints regarding Shariah Compliance at the Bank. Amongst these are the three matters referred to by the CEO in his letter dated 28 December 2007, namely the M Bagus, A E Moosa and A B Kharva cases. In order to put things in perspective, we feel that a brief background to our workings would be appropriate.

If the Jamaitul Ulama (KZN)office staff receive a complaint or query, they gather information on the nature of the request. This is stage one. Only a brief overview of the disputed matter is gathered, and detail issues are not investigated, for example the nature of the contract, the terms of the contract, the legal relationships etc. If the complaint revolves around a commercial matter, as in these cases, the staff member recommends the matter be mediated and/or arbitrated.

If the complainant is amenable to this suggestion, stage two follows.
In stage two the other party is contacted and is informed that a complaint has been received. Once again the office staff member recommends mediation and/or arbitration. Should the respondent accept this recommendation, a mediation/arbitration agreement is signed.
In stage three the Judicial Committee appoints a set of mediators/arbitrators. Once the mediators/arbitrators receive the file, they attempt to set a date agreeable to all parties. As a general rule, which is rather obvious, any Mufti / Maulana who has previously dealt with the case are precluded from being a mediator/arbitrator. Absolute impartiality is demanded.

Prior to stage three the Judicial Committee is not involved, and the matter is handled by the office staff. It is only after this stage that the mediators/arbitrators begin looking into the substantive issues and get an understanding of the detail intricate juristic issues at hand. The stages that follow are not relevant to our discussion.
The Judicial Committee should not be confused with the Iftaa Committee whose function is quite distinct. The Iftaa Committee, in the main, deals with questions posed by the public. Answers are provided to the party posing the question, and unlike arbitration, do not bind the parties.

In the cases mentioned above, the Jamiat received complaints from the respective parties and have been in contact with the Bank. All of the complainants were prepared to submit to mediation/arbitration conducted under the auspices of the Jamiat. The office staff members were still busy at stage two in requesting the Bank to have the matter arbitrated. As yet none of these matters have been set down for mediation/arbitration as we have been awaiting a definite response from the Bank on the issue of arbitration.
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Our letter of 10th May 2007 makes it abundantly clear that we requested the Bank to submit to an independent arbitrator. In our letter of 16 July we stated that "we do not have any specific issues to discuss…" By this is meant that we were merely at stage two and that the only request we had was for the parties to submit to mediation/arbitration. At this stage the office staff members are not permitted to get into substantive issues and discuss the merits of the case. Hence the Administrator
declined the request of the CEO for an "agenda detailing the specific issues of concern for each client". It is not the duty of, nor is it appropriate for the Administrator to provide a detail memorandum of the particulars of each case as well as details of the relief sought.

In his letter of 30th November 2007 the Administrator made his position very clear, where he stated:
"We had initially written to you on 26 June 2007. Your clients had requested the Jamiat to facilitate an independent panel of Ulama to arbitrate on the issue.
As facilitator, it is not for us to determine the issue under dispute. This must be raised by the parties in front of the arbitrators. Our duty is to, in consultation with the parties arrange an independent panel of Ulama to decide the matter strictly in accordance with Shariah.To date we have not received a definite response from you on this proposal. Considering the fact that the Bank professes to be Islamic, we cannot understand why it is difficult to submit to an arbitration based on Shariah. To the contrary the Bank has instituted legal action against one party and is delaying in giving the Jamiat a clear mandate to proceed with arbitration.
Further delays in this regard can only work negatively on the image of the Bank as being Islamic."
Nonetheless, the Administrator did qualify his statement. The full sentence he used was:
"Furthermore, we do not have any specific issues to discuss, apart from the way forward to resolve the impasse between Al-Barakah and the above-mentioned clients." (Letter of 16th July 2007)
The full sentence is extremely significant, as we shall explain ahead. Nevertheless, the Administrator did set the agenda, which was to find a way forward at this crucial point. In other words the Jamiat wanted to discuss whether or not the Bank wanted to submit to mediation/arbitration, or suggest any other forum whereby the clients could be guaranteed their rights in terms of Shariah.

After this brief introduction, we now wish to address the letter dated 28 December 2007.

In paragraph one:
"We refer to your letters dated 26 June 2007 and 30 November 2007 where you requested a meeting to resolve the above issues."

Our letter of 30th November 2007 makes no mention of any request for a meeting. The two letters have been clumped together to create the impression that the only outstanding issue was a request for a meeting. The CEO proceeded to address the issue of a meeting as if this was the only issue at hand, ignoring our direct call for the Bank to clarify its position on arbitration.

Paragraphs two and three read:
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‘We wish to place on record that we were initially amenable to a meeting provided that an agenda detailing the specific issues of concern was forwarded to us prior to such meeting (see our letter dated 29 June 2007)
You responded, in a letter dated 16 July 2007, that "the Jamiat is only a facilitator" and that you "do not have any specific issues to discuss".’
The calculated engineering of the words is most unfortunate. It is well accepted that when one wishes to quote, one should quote the sentence in full. It is quite easy to deliberately distort the meaning of a sentence by quoting only part thereof.
We have explained above that at this stage the Administrator is only a facilitator in getting the parties to the table, and hence cannot discuss substantive issues.

However the full sentence of the second quote reads:
"Furthermore, we do not have any specific issues to discuss, apart from the way forward to
resolve the impasse between Al-Barakah and the above-mentioned clients." (Letter of 16th July 2007)
Regrettably, the CEO quoted only part of the sentence, namely the words:
"we do not have any specific issues to discuss" and deliberately excluded the rest of the sentence. The resultant meaning is obviously distorted.
As pointed out above, the agenda was set as the way forward in resolving the impasse. Despite receiving the agenda, the Bank did not go forward with a meeting.
The next paragraph deals with a request by the Iftaa Committee for some information, which was kindly provided by the Bank. The Iftaa Committee shall in accordance with its own procedures consider the information provided and make its own findings accordingly. The Iftaa Committee is not obliged to consult with the Bank in order to draw its own conclusion. Hence the Bank cannot make any specific inferences from the fact that the Iftaa Committee did not discuss the issue
further with the Bank. It would be unreasonable to deduce that the Iftaa Committee, by not communicating further, is in agreement with the information provided.

The remaining few paragraphs are most disturbing and read:
"We have also noted that material portions of confidential correspondence with regard to the cases in question were published in an Islamic Publication.
It is obvious that the matter has not been dealt with in an objective manner taking the above into account. Therefore, we cannot reasonably be expected to submit to your latest offer of facilitating arbitration between the relevant parties."
This is a direct affront to the integrity of the Jamiat and the Ulama. We at the Jamiat are highly offended by the insulting insinuations made. The allegation is a direct attack on the integrity and reputation of the Ulama, and cannot go unchallenged. We are therefore addressing this matter to he Board of Directors in the hope they would attend to this matter in a more balanced light.

The third sentence refers directly to the Jamiat, and is connected with the second sentence via the conjunctive "therefore". While the second sentence has been cleverly couched in indirect speech, it
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nonetheless refers to the same subject, i.e. the Jamiat. Hence, there is an accusation that the Jamiat has not dealt with the matter in an objective manner.
The words: "[i]t is obvious … taking the above into account" definitely connects the first sentence with the second. Putting the puzzle together, one has to conclude that the CEO is accusing the Jamiat of being behind the publication of "material portions of confidential correspondence".

Firstly, no mention is made of which "Islamic Publication" is being referred to. If indeed there was a breach of trust, what is the need to resort to vague references? The CEO should have been clear in which publication is responsible.
Secondly, assuming that an alleged "Islamic Publication" did publish "material portions of confidential correspondence", did the CEO contact the publisher of the said "Islamic Publication"?
Since the Jamiat is certainly not the publisher, why lay the blame at the feet of the Jamiat? The actual publishers should have been contacted.

Thirdly, did the CEO not consider the possibility that the alleged "Islamic Publication" may have received its supposed information from some source other than the Jamiat? What makes him so certain that the supposed leaked information emanated from the Jamiat? Could it not have been possible that one of the complainants themselves divulged some information to the alleged "Islamic Publication"? Assuming that to be the case, why should the Jamiat be blamed for the actions of individuals over whom they have no sway, or for whose actions they are not
accountable.

The CEO has now one of two options available to him:
• Produce compelling evidence that the Jamiat is responsible for the leak of confidential information related to the said cases to a certain "Islamic Publication", or
• Unequivocally and unreservedly apologise to the Jamiatul Ulama (KZN) and its members for the gratuitous insult.
It is indeed regrettable that the CEO resorted to such a diversionary smokescreen. Instead of concentrating on improving the situation within the Bank, he repaired to hurling wild and unfounded accusations on the Jamiat and wished to blacken the name of the Ulama. We assure you that this will only help to sink the Bank into deeper waters.

The Ulama, as custodians of the Shariah, have a responsibility in the light of the following:
• The fact that the previous Shariah Advisor to the Bank cited as his reason for resigning "various wrongs that Albaraka bank is indulging in which is contrary to Shariah",
• The members of the Executive and Shariah Supervisory Board admitted that the Bank is not yet fully Shariah Compliant,
• The Jamiat has received a number of complaints regarding Shariah Compliance at the Bank,
• The Bank is unwilling to have the matters arbitrated by an independent forum, thus
depriving the complainants any viable means of enforcing their Shar’ee rights, yet is prepared to have the non-Muslim courts decide on some of these matters in terms of secular-law base on the principles of Riba.

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The Deen of Allah Ta’ala is immutable and totally independent. It does not depend on any individual, the Jamiat or Al Baraka Bank. As Ulama we are prepared to even see our lives being lost. However, what our conscience will not allow is for individuals to promote Haraam in the name of Islam. Islam is not cheap. It is our responsibility to protect the name of Islam and to this end we have a duty to go to any length required.
Hence, the Jamiatul Ulama (KwaZulu Natal) is compelled to consider necessary steps to address the grave situation that has evolved.

The Jamiatul Ulama (KwaZulu Natal) urges the Bank to:
1. Reconsider its position.
2. Submit to an Independent Ulama Arbitration Body and thereby clear the name of the Bank of wanting to be the Accused, Jury and Judge.
This would most definitely appease the disgruntled clients and improve the image of the Bank,

Insha Allah.

May Allah Ta’ala guide one and all to that which earns His pleasure. Ameen

Was Salaam

EVEN MORE BREAKING NEWS
A RECENT INTERVIEW FROM A LOCAL PUBLICATION
WITH NONE OTHER THAN CEO OF ALBARAKA!!!!!

Emails from the 10th June
I apologise for not updating the site but I was away for Umra for 2 weeks.
Never less lots have been happening in this time please read on.

Tas
Could you please resend the breaking news again on the text form of the email because alb has blocked / banned us from reading the site.

Yusuf
How can the CEO lie like that?

Sam
Its disgraceful for a CEO to lie this way!

Iqbal
Does the local publication know what is going on? Is it all money with them , to keep the advertisers happy they just print anything!!!!

Saeed
Where is Mufti Shafiq with his signature on the Bushra contract?

Moosa
Radio Islam what’s with the declaimer before the ads of alb? Its money, money, why else?

Aysha
I think all this that’s happening is defiantly affecting Albaraka bank.

Fathima
Is all contracts haraam?

Moola
As muslims we are just making a joke of Islam in the eyes of the non muslims.

SULAIMAN
The news paper al Ummah should stop advertising for these liars .

FAROUK
this just goes to show how low the ceo will go to protect the interest they seek from us ...

Moonira
When is this protest taking place? Will it be in all the cities at once? If you need any help please sent me an email me or call me on ..................................

MARIAM
The money we received from the bank in our haj accounts is that also haraam? Do I need to perform my haj again? If so who do I hold responsible?

DADA
Is mufti Taqi aware of all this? he is after all the Chairman of the Shariah department of the bank internationally I have just completed reading one of his books he is a great man who knows this type of contracts he showed be involved!

MUJEEBA
I just can’t believe that the ceo would make such a statement without thinking? Did he not know that people would read this and see our dispread he is?

NADIA
Mr ceo the biggest mistake of your career!!! Bad move you should have just shuttered up.

Salie
What are differences of opinion?


RAZIA
If all the ulama feel this is wrong why are they allowing the bank to use the name of Islam to con the muslims.

ZAITHOON
The jamait in Fordsburg needs to check into this matter urgently.

Irshad
I’m ready for a protest. They have corrupted my money with their interest haraam money.

RABIA
I think that the protest outside all Albaraka Banks is the right thing after reading all this.

Khalid
Where are all this big Molvi’s? What is taking them so long to speak up?

Samed
Is the only Ulama that have fear of the hereafter in Durban? This is Ulama Ul-Haq. They are not ruled by money like the molvi’s in other places?

Zaahid
This is what the majlis has been saying all along. These are just riba an devourers.

Nazeer
Why did the kzn jamait not make this knowledge known to all the muslims along time ago? They were well aware of the facts that the bank was not Shariah compliant they will need to answer in the hereafter with the bank.

KATHIJA
What about the other clients of albaraka bank? Where and who do we ask about help on our contracts?

Rafique
It amazing what people would do for money! May God protect us from this evil!

Rahaman
Why don’t they sell their ....... instead of our deen.

Loonat
Stop using “Islamic way” of banking rather use the name “corrupt muslim” way of banking. Stop, stop, stop you have gone too far now.

Shabbir
Our NABI (saw) left us with a perfect deen and complete in all aspects of life why are you changing it Shabir? Is this what money does to a person?

RUWAIDA
Is the Jamiat going to throw Albaraka bank out of their premises? I think not!

Yaseer
I have some letters that are correspondences between alb and three clients in respect to their problems and the banks replies. Do you have a fax number that I can fax this to you? I don’t have a scanner and I don’t know how to put it on the blog.

Ziyad
Does albaraka have anymore lies to tell the muslims ? They are just a disaster in the making like the old Islamic bank.

SEEDAT
When do you plan on having this protest?

HOOSEN
The best person to handle the bank is the majlis Mufti A.S Desai is the a man of great takwaa and is not afraid to speak the haq (truth) .

Asmaa
I want to know what deal is Bushra making with al-baraka bank so we all can get the same.

Ismail
WHY THE DOUBLE STARDARDS IN THE JAMAIT ON THE ONE HAND THEY SAY THAT ALBARAKA BANK IS NOT SHARAIH COMPLIANT AND ON THE OTHER HAND THEY HOUSE THEM IN THEIR BUILDING.

Aneesa
Im shocked at the CEO’s statements in the paper.!!!!! Did he not get the letter from the jamait kzn?

Moonira
Why is this web-site not being updated? I send a email a few days ago and don’t see my email?

Nisreen
I will not believe anything the bank says after reading all the things above, more so after the bank lied in the interview.

Zain
After all this do you think the bank CEO will ever get a job in this industry again? I think that this needs to be sent to the Reverse Bank for their attention on the conduct of the management of the bank.

Bhamjee
Its a shame that certain aalims sit with these bankers and eat with them, how are they going to answer to our lord when he questions them? They only worry is money.

Sarfaraaz
Great letter from the ulama kzn . this has been a eye opener for the muslims.

Munir
Close this haraam bank down.

ZANIB
My haj is important I need someone to please reply if my haj will be accepted?

Ebrahim
Im withdrawing all my monies from al-baraka bank because i don’t want to lose my Halaal money in this haraam system that lied about been Islamic.

Patel
I think that after all i read the investor need to worry more than anyone else, because if the ceo can lie about the ulama who is anyone else that he would fear, lying is his profession.

Soraya
May Allah show the truthful and may he destroy the people using the deen for personal gains.

Ashraf
I feel people are just getting emotional on this matter. I believe alb is just like any other interest banking company in the world.

Reyhana
The jamait really showed how corrupt the bank is.

Hamza
The new contracts the bank has a clause that you have no rights in the matter of a dispute, the so called Shariah Board has the final say. Beware of this new contract if you still thinking of doing a transaction with them. Is this Islamic ? Will the Shariah board please answer. I have not got a response yet from anyone.

Zakaria
I am not taking a chance. I rather move my accounts.

Abdul
Protest ,protest , protest , protest.

Adam
Where ever there is smoke there has to be a fire.This must be the truth .

Essa
I would like to see how the ceo is going to get out of this one!

Naeem
I hope the Ceo mentioned all this in his speech to the investors .

Essack
Where is the Daarul Ifta’s in all this ? What is their opinion on the matter? Why don’t they add their comment hear instead of just sitting still.

Mamood
The one about Mol. Bilal is true. He clearly said that the deal was not right. Then Bushra put it down on paper and sent it to him. Big Brother knows all about it because he got Bushras letter on his desk.

Nasim
What is the reserve banks email address I would like them to see what MR CEO is up to.

Sikie
Are we not just giving the non-muslims a bigger chance to laugh at the muslims? Why is it so difficult to resolve the problems between the bank and their customers?

Afzal
I too have some letters that was between alb and a client and the problems, do you want me to put it on the blog? Bear in mind that this is very heavy stuff!!!!!!!!!!!!!

Talhah
Where is the shariah board now ? are they going to take the bank out of this mess after all they the main course in this they gave the bank the licence to trade this way.

Yayah
I SEE WHY THE MAJLIS CALLS THE JAMAIT IN FORDSBURG NNB JAMAIT.THE NAME SUITES THEM BECAUSE THEY ONLY MOVE IN THE DIRCATION OF MONEY. JUST LIKE PICK AND PAY NNB IS ALL ABOUT FOLLOWING THE MONEY.

Rashid
Assalaamwalaikum

I respect your brave step to take on the faasiq Al Barakah bank. I myself have tried in vain to resolve an outstanding matter with the bank, however they continue to maintain a position of being the accussed, judge and final adjudicator. Unfortunatley the Jamiat Transvaal has not taken the strong stance as their counterpart in KZN. I would like to pair up with you and assist you in your noble cause, perhaps my matter may also be resolved. (I haven't taken the matter to any of the 'Religous' bodies other than Jamiat Transvaal as I have had no hope of their assistance)

Please advise that if you can assist. I must admit that I wish to remain anonymous as I am pursuing the matter legally as well, however I do have details of the NON compliance to Shariah in their contracts. Ironically they are non compliant to AAOIFI which they profess to follow.
Wassalaamwualaikum

Abu
Whats happening you are not updating you blog?
Are you attending Albaraka banks AGM tomorrow 19 June 2008 at 9h00 at 134 Commerical Road Durban?

Abu
Albaraka Bank is through its front viz. its IQRA trust (whos income is from ABL and comprises of interest on its treasury investments and penalties/usry charged to its defaulting customers) using Riba to promote, publicise, advertise and market itself. This is against its own constitution, AAOFI standards and the Shariah. Yet it openly, overtly, blandly and brazenly claims to be Shariah compliant. They are making a total mockery of the Shariah and bringing Islam to disrepute. It is well known from a Shariah point of view that when one gives away interest money it should be done quietly without any intention of reward or benefit yet Albaraka has the oddtesty to make a big show when it gives out its haraam income. Their action symbolical and disgraceful as they are portraying an image of being benevolent without disclosing how the acquired their ill-gotten gains.


Amus
Slmz, have a look at the link and see what is relevant

http://books.themajlis.net/node/311

please confirm you received this
Slmz

Abu
If you want to give greater exposure to Albaraka's non-Shariah compliance i would recommend people called the following shows
Channel Islam Iinternational (CII) (WHICH BROAD CASTS TO 150 COUNTRIES) to air their views

1. At-jijara on Tuesdays between 8pm and 9pm were listeners can call in at certain times when the lines are open.

2. JQ LIVE on Wednesdays between 9pm and 10pm (and sometimes between 8pm and 9pm) when there is an open line and you can get on the soap box and let your views known to the world.

3. PERSONAL PROBLEMS on Saturdays between 4pm and 5pm.

4. Q AND A on Mondays between 8pm and 10pm were you can phone 011 494 7007 to pose your queries or e-mail to mufti@ciinetwork.net or fax to 011 494 7029 or sms to the number they give out on air.

YUNUS

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