Sunday, April 17, 2016

Nigerians confused about Buharinomics should study Islamic principles.

Western finance is Haram.

Wikipedia: Islamic economics
The central features of an Islamic economy are often summarized as: (1) the "behavioral norms and moral foundations" derived from the Quran and Sunnah; (2) collection of Zakat and other Islamic taxes, (3) prohibition of interest (riba) charged on loans.
Advocates of Islamic economics generally describe it as neither socialist nor capitalist, but as a "third way", an ideal mean with none of the drawbacks of the other two systems.
Among the claims made for an Islamic economic system by Islamic activists and revivalists are that the gap between the rich and the poor will be reduced and prosperity enhanced by such means as the discouraging of the hoarding of wealth, taxing wealth (through zakat) but not trade, exposing lenders to risk through Profit sharing and venture capital, discouraging of hoarding of food for speculation, and other sinful activities such as unlawful confiscation of land.
Does this help you understand the President's constraints better? For instance, no loan deal, but investment deals and currency swaps are good. China yes but IMF no.  You're welcome.  Please leave a donation.

Meanwhile,
a few ridiculous faithful people have been about the internet explaining the President's economic moves, plans, strategies...

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