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Friday Bulletin
www.islamkenya.com
Last weeks night time terror raid in Mombasa has received government was portraying Muslims as terrorists and continued
widespread condemnation from Muslim leaders who are insist- with the campaign to oppress the community.
ing an apology from the government. The leaders have also told National Muslims Leaders Forum chairman Sheikh Abdullahi Abdi
the Kibaki administration to respect the constitutional rights of all said Muslims were being persecuted by their own government
Kenyans and warned of possible fallout with the government dur- without regard to established laws. We are led to wonder whether
the government of Kenya has two sets of laws in its governance;
ing the coming general elections if the present trend continued.
one for Muslims where all human rights
The raid, the most severe yet, since the camare broken with impunity and another for
paign of harassment against Muslims started
He added that the trend where Muslims
the rest of Kenyans, he said.
in 2003, saw eleven people who included an
were being detained arbitrarily was a
He added that the trend where Muslims
Imam of Kwa Shibu masjid arrested in a late
smack in the face of all the internationwere being detained arbitrarily was a
night operation by the dreaded terror police
al conventions on human rights.
smack in the face of all the international
unit, the paramilitary General Service Unit
conventions on human rights. Abdullahi
and the crack Flying Squad. Ten people were
warned that the government action risked
released a day later but the Imam, Sheikh Ibthe country degenerating into a pariah state.
rahim Muhammad Salim was still being kept by the police.
Calls were again made for the disbandment of the terror police On his part, Sheikh Muhammad Dor, the Council of Imam and
which Muslim leaders have on many occasions pointed out that it Preachers of Kenya (CIPK) secretary general described the night
is being used to torment Muslim faithful and was operating outside raid as chilling and barbaric.
the connes of the law. Terror police boss Nicholas Kamwende Orange Democratic Movement (ODM) Presidential candidate Naled the two-hour operation carried out in the Guraya neighbour- jib Balala rubbished police claims that the operation was engineered to protect the fundamental rights of the people. You do
hood of the town.
SUPKEM Chairman Prof. Abdulghafur El Busaidy accused the not invade and break peoples houses at that time of the night
Government of working at the behest of foreign entities to op- and still claim that you are protecting the people, an angry Balala
press its citizens under the guise of ghting terrorism. There is a said.
foreign hand in the police mop up and illegal night raids, he said. The chairman of the Parliamentary Select Committee (PSC) on
Though Muslims had nothing to do with terrorism, he said, the Security Mr Ramadhan Seif Kajembe while condemning the raid
said he would summon police commissioner Maj Hussein Muhammad Ali and Internal Security minister John Michuki to explain why
excessive force was being used on innocent Muslims.
Continued On Page 4
Continued On Page 2
This Newsletter contains some of Allahs names. Please do not throw in the trash. Either keep,circulate or shred.
turning out to be innocent, gangs who have brought terror and mayhem to the population are instead being handled with a kids glove
approach. Just recently defence minister Njenga Karume was calling
for dialogue with the outlawed Mungiki sect, an outt blamed for a
carnage which has resulted in hundreds of death.
The latest raid has however, come with some glimmer of hope. For the
rst time we have seen people such as Juma Ngao coming up for the
rst time to condemn the governments barbaric act. It is our hope that
Ngao and those who have been at the forefront in praising the government notwithstanding its persecution of Muslims, will now stand rm
in speaking out against the harassment and vigorously defending the
rights of the suppressed population.
As we have always reiterated, nothing should stop us for agitating for
our rights. But at the same time we should continue to exhibit patience
from engaging in any act which may further give the government a
justication to carry out the heavy handed approach and get support
for the Terror Bill.
Alhamdulillah we have for the past four and so-years exhibited a high
degree of patience and we should continue with this noble approach
after all Allah stated that with difcult comes ease.
Islamic Banking
This is the continuation of the series on Islamic Banking By Abdullatif Essajee, a lecturer at University of Nairobi and a member of the Jamia Mosque Commitee-Nairobi
Islamic Banking Musharaka (Prot and Loss Sharing System)
The word Musharaka takes its name from the Arabic work shiraka
which means partnership and it is that relationship which subsists between two or more persons carrying on a business in common with a
view of prot to be divided between themselves in pre-agreed proportions. It is formed by an agreement whereby the partners agree to carry
on a particular type of business together with a view to making prots.
This partnership is normally of limited duration, formed to carry out
a specic project. It is therefore similar to a joint venture. The share
of each one of the partners should be stated in terms of percentage
or ratio or fraction of anticipated prots and not as an absolute xed
amount. Such stipulation or pre-xing of a certain sum as prots for any
partner will invalidate the contract.
The share of each one of the partners may or may not be determined
on pro-rata basis to the capital contributed by each partner. However, the agreement should earmark a certain portion of the prots for
the active partner in excess of the actual percentage due to him as a
compensation for his entrepreneurship and management. This portion
should be deducted from the prots prior to distribution.
Losses resulting from normal business conditions should be borne by
the partners on pro-rata basis according to each partners contribution
in the capital. The active partner will, however, bear responsibility for
any loss should this be the result of his negligence or willful act or
breach of the Musharaka agreement.
Operations carried according to this mode may vary from weeks to
years and can be classied under two headings:
a)
Self-liquidating Musharaka
This is a self-liquidating form of participation whereby the bank would,
in addition to its share of prots, be retrieving from the other partner
certain agreed sums until the banks share of the capital is fully repaid
and ownership of the project passes over to the other party. It is usually
applicable in medium to long-term operations and projects.
b)
Permanent Musharaka
In this kind of Musharaka, the bank participates in the project permanently until liquidation of the same or until, by agreement, the bank
sells its share in the project to the other partner or to any other party.
The Interest-free Banks through these methods of nance (Mudharaba
and Musharaka) play the role of a real partner.
The other category of methods of nance, as stated earlier, are the
trade nance or trade related methods.
These include:
Murabaha (Mark-up Sale)
This method is extensively used by Interest-free Banks to nance the
trade needs of its customers.
It consists of two distinct transactions, purchase and sale, where the
bank adds an agreed amount of mark up as prot over the cost of the
purchase transaction to the sale transaction. This margin is charged
only once at the time of selling the goods to the customer and is not
variable or subject to increase again in the future even if the customer
delays in repayment or fails to repay. The mark-up principle is justied
on the basis of a generally accepted axiom that time may be valued
provided it is incorporated in an actual sale transaction.
The Murabaha method is widely used by Interest-free Banks to nance
international trade and the importation of goods under letters of credit.
Musawama (Bargain Sale)
This method is used where the customer and the supplier of a product are stationed in the same locality. Its difference with the Murabaha
(Mark-up sale) is that a lump sum sale price of the goods would be
agreed upon after bargaining between the bank and customer irrespective of the original cost price of the goods and/or the prot.
Sallam
This is a post-delivery or forward transaction similar to a future or a
forward-purchase contract. In this arrangement, banks purchase in
advance goods from the owners of productive units who undertake to
deliver the goods at a future date. Through this system the bank would
afford the necessary funds required to meet the working capital needs
of owners of the productive sector of the economy. It is particularly ap-
VACANCY
Saturday Lecture
Rights of Neighbours
Saturday 5th May 2007
Sheikh Abdallah Bundid
2.00pm-4.00pm
Jamia Masjid Multi Purpose Hall
The Friday Bulletin is a Publication of Jamia Masjid Committee, P. O. Box 40629-00100 Nairobi, Tel: 243504/5 E-mail: majlis@wananchi.com
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