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oAnth's day by day interests - via its scoop.it contacts
An aggregator for (oAnth's) daily interests in humanities, arts, science, geography, economics, politics - academia, education - activism, advocacy - itec, free software, open source, open access, open knowledge - languages in use: mostly EN, FR, DE
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Rescooped by oAnth - "offene Ablage: nothing to hide" from Égypt-actus
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There's Nothing Wrong With Islamic Finance As Long As It Really Is Islamic Finance

There's Nothing Wrong With Islamic Finance As Long As It Really Is Islamic Finance | oAnth's day by day interests - via its scoop.it contacts | Scoop.it

This is a fascinating little interview with Timur Kuran, an expert in Islamic finance. The point being made is that Islamic styles of finance aren’t, in fact, all that different from the “western” type that we are used to. And in fact, in certain situations, being “more Islamic” would actually be beneficial, work better than those traditional western systems.

The heart of the comments about the banking system are here:
Whether the Qur’an bans all forms of interest, or specifically its exploitative forms, was a matter of controversy in the early decades of Islam. It still remains in doubt. What is crystal clear is that what passes as Islamic finance is anything but interest-free. Almost all of the Islamic banks in existence, including those in Egypt, charge their borrowers what any economist would call interest; they also pay their depositors interest as a matter of course. This is not surprising, for interest continues to provide tangible benefits to both lenders and depositors.

In economic terms, while the banks don’t charge or pay what they call interest, the effects are that they do indeed charge and pay interest. Those of us who have dealt with such banks, in however minor a way in my own case, know this to be true. The really interesting, to me at least, point made is the following:

"Having suggested that in its present form Islamic banking would not solve any of Egypt’s pressing economic problems, let me acknowledge that Islamic banks might bring benefits by abiding by their stated mode of operation. The charters of Islamic banks instruct them to lend on the basis of “profit and loss sharing” rather than for a fixed return. They are to operate like the venture capital companies that have financed the global high-tech industry. Venture capital firms lend to promising entrepreneurs, for a share of any profits, without regard to collateral, track record, or connections. They take genuine risks, losing money when investments that they finance fail".

With its young population and high unemployment, Egypt desperately needs more venture capital. That is why genuine Islamic finance could bring major benefits to Egypt.

 

That is, it would be a good idea if these banks, or some of them, stopped copying the western model and actually moved over to the VC model they’re supposed to be based upon. (...)

 

More on: http://www.forbes.com/sites/timworstall/2013/03/16/theres-nothing-wrong-with-islamic-finance-as-long-as-it-really-is-islamic-finance/


Via Egypt-actus
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Rescooped by oAnth - "offene Ablage: nothing to hide" from Archivance - Miscellanées
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Critique radicale de la valeur (Wertkritik)

Critique radicale de la valeur (Wertkritik) | oAnth's day by day interests - via its scoop.it contacts | Scoop.it
Un ensemble de textes portant sur la critique de la valeur (wertkritik), autour des oeuvres de Robert Kurz, Anselm Jappe, Moishe Postone, Guy Debord Karl Marx, et des groupes allemands Krisis et Exit !

Via René Z.
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Rescooped by oAnth - "offene Ablage: nothing to hide" from Renaissance Art
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How to see people naked in Renaissance Italy

How to see people naked in Renaissance Italy | oAnth's day by day interests - via its scoop.it contacts | Scoop.it

Seeing naked or near-naked men in the Renaissance does not seem to have been very difficult. I should point out that looking at naked people is not, necessarily, erotic..


Via LizIxer
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Rescooped by oAnth - "offene Ablage: nothing to hide" from Égypt-actus
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Le « capitalisme extrême » des frères musulmans

Le « capitalisme extrême » des frères musulmans | oAnth's day by day interests - via its scoop.it contacts | Scoop.it

Aux affaires en Egypte, les Frères musulmans ne peuvent plus se contenter du slogan « L’islam est la solution ». Car leur politique libérale risque de susciter de fortes oppositions.

MONSIEUR Khairat Al-Shater est le numéro deux des Frères musulmans, et le représentant de son aile la plus conservatrice. Quant au richissime Hassan Malek, après avoir débuté dans les affaires en partenariat avec M. Al-Shater, il dirige aujourd’hui avec son fils un réseau d’entreprises dans le textile, l’ameublement et le commerce employant plus de quatre cents personnes. Ces deux hommes incarnent bien le credo économique des Frères musulmans en faveur de la libre entreprise, qui se conforme davantage à la doctrine néolibérale que la forme de capitalisme développée sous la présidence de M. Hosni Moubarak.

Le portrait de M. Malek dressé par Bloomberg Businessweek aurait pu s’intituler « L’éthique frériste et l’esprit du capitalisme », tant il semble paraphraser l’ouvrage classique du sociologue Max Weber. Les Malek, explique le magazine, « font partie d’une génération de conservateurs religieux ascendante dans le monde musulman, dont la dévotion stimule la détermination à réussir dans les affaires et la politique. Comme le dit Malek : “Je n’ai rien d’autre dans ma vie que le travail et la famille.” Ces islamistes posent un formidable défi à la gouvernance laïque dans des pays comme l’Egypte, non seulement à cause de leur conservatisme, mais aussi en raison de leur éthique de travail, de leur détermination et de leur abstention apparente du péché de paresse. (…) “Le fonds de la vision économique de la confrérie, s’il fallait la définir d’une façon classique, est un capitalisme extrême”, dit Sameh Elbarqy, ancien membre de la confrérie (1) ».

Ce « capitalisme extrême » se manifeste dans le choix des experts en économie participant à l’assemblée chargée de rédiger le projet de Constitution égyptienne, largement dominée par les Frères musulmans et les salafistes, et boycottée par l’opposition libérale et de gauche. « M. Tareq Al- Dessouki est un homme d’affaires, député du parti Nour [salafiste]. Il dirige la commission économique du nouveau Parlement et a pour mission de résoudre les conflits éventuels avec les investisseurs saoudiens en Egypte.

 

Plus: http://badiltawri.wordpress.com/2013/02/07/le-capitalisme-extreme-des-freres-musulmans/


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