Does Islam suggest any solutions for the financial crisis ?

asked 13 nohabasuni's gravatar image

he year 2000 is considered to be the start to forming the real estate market bubble in many industrial countries and especially America when banks had started to grant unprecedented loans (greed of usury dealers) with different kinds of real state loans especially the housing loans, accordingly its prices increase. The crises happened in 2007 when most of debtors failed to pay these usury loans (interest rises according to risk) so banks became not able to collect installments of these loans (normal result)! And that is another factor which negatively affects the American currency (distrust) because most of the affected people were companies and the American people.

The financial weapon of mass destruction

Have you ever heard about ‘The financial weapon of mass destruction? In other words master of disasters (usury the giant). It is the credit default swap (CDS), most likely no one in the Islamic world have heard about it. I will explain what CDS is according to my understanding to the articles which talk about it and its danger. First I will give an example about the concept of insurance and to link this example to the CDS, after that I will talk about the danger of this product and how much this product is dangerous and has a big danger on the economy . link text

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answered 251 Muhammad%20the%20greatest%20man's gravatar image
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Asked: Oct 02 '13 at 17:05

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Last updated: Oct 02 '13 at 18:10

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