Mustafa Exchange Rate Faqs

Joseph asks…

If you’re going to College, and you’re moving to Syria, what should you study in college?

My friend Mustafa and I. Our dream is to Move to Syria, even if we’re not really rich men, but the exchange rate is fair, and since we’re both Muslims it’s a great place to live, and a place we want to start our lives. But since College is highly recommended now days in USA, what would I even study if I’m going to be a citizen of another country right after.

Mustafa Singapore Admin answers:

Sadly, the opportunities aren’t quite as varied as in the West. While you can study more or less anything in college, that doesn’t necessarily mean there’ll be a demand for jobs in whatever you choose to major in. For example, while you CAN study psychology, there isn’t a whole lot of need for psychiatrists or psychologists in Syria.

I’d recommend studying English, and- if at all possible- getting a TESOL certificate. Currently in Syria there’s a massive demand for English teachers. There’s also a chance you could get into archeology- Syria is a virtual treasure-trove of antiquities, however, there are very few archeologists or historians in Syria. Medicine, law, and engineering are also two careers in Syria that pay well and are in high demand. Agricultural studies can also come in handy.

Robert asks…

If you were trying to hide God, can you think of a better place to hide him than behind a wall of Bible verses?

Mustafa Singapore Admin answers:

You can’t hide Judao-Christian Culture, fool, especially as related to Islam:
What do Muslims believe in?
-Quran 8:12: “Instill terror into the hearts of the unbelievers;”
-Quran 8:7: “Allah wished to confirm the truth by His words: ‘Wipe the infidels out to the last.'”
-Tabari IX:113: “Treat women well for they are like domestic animals and they possess nothing themselves. Allah has made the enjoyment of their bodies lawful in his Quran.”

What do they do?
-Google search “civil wars in the world” then research each individual civil war and you will find one common combatant in 90% of them: Muslim extremists. Muslims are involved in civil wars in China, Russia, Bosnia, Cyprus, Macedonia, Israel, Pakistan, India, Indonesia-Ambon & Halmarhera, Côte d’Ivoire, Kashmir, Kosovo, Kurdistan, Kirghizia, Nigeria, Philippines, Somalia, Turkey, Chechnya, Sudan, Yemen, Thailand, Uganda, Azerbaijan and East Timor. Muslims against all non-Muslim nations, religions and cultures on earth.
-8/09 Bosnia Muslim leader Mustafa Ceric declared Christian Serbian Muslim-majority territory boarding Montenegro as Muslim homelands. The same Muslims we saved from ethnic cleansing by bombing Christian Serbs in the 90’s are now claiming more Serbian land.
-8/23/09 BBC Thailand: Muslims shoot, behead and blow up local Buddhists to force them to flee Southern Thailand in order to establish a separate Islamic state.
-8/20/10 AsiaNews, Kashmir: Extremist Muslims are demanding Sikhs convert or leave.
-8/23/10 Reuters: Since 2004 Muslim extremists have killed 4,000 Buddhists in southern Thailand, which they are claiming as Muslim homelands.
-7/5/11 Daily Mail, London: Islamic extremists have called on British Muslims to establish three independent states within the UK.
-10/4/11 AFP news, Philippines: “The government had previously warned that Umbrakato posed a serious threat to efforts aimed at ending a Muslim insurgency that has left an estimated 150,000 people dead over more than four decades.” Muslims want their own independent nation.
-1/3/12 Reuters, China: “[Muslim] Uighurs in Xinjiang rioted against Han Chinese residents in 2009 and at least 197 people were killed, according to official estimates.” Muslims want their own independent nation.

As to women?
-The UN’s GEM (Gender Empowerment Measure) ranks nations by women’s equality. Muslim nations rank at the bottom.
-1/31/07 UK Policy Exchange poll of what young Muslims: 75% want women to be veiled.
-2/08 United Nations Report (un.org/en/women/endviolence): Mainly in Muslims nations, over 130 million girls and women alive today have undergone FGM (Female Genital Mutilation); each year 2 million girls are subjected to FMG.
-United Nations Report, 2002: “The report of the Special Rapporteur concerning cultural practices in the family that are violent towards women (E/CN.4/2002/83), indicated that honour killings had been reported in Egypt, Jordan, Lebanon, Morocco, Pakistan, the Syrian Arab Republic, Turkey, Yemen, and other Mediterranean and Persian Gulf countries, and that they had also taken place in western countries such as France, Germany and the United Kingdom, within migrant communities.”
-12/2/0/09 The Independant, London: UK fails to halt female genital mutilation; “cutters” being flown in by Muslims.
-12/3/11 APF, London: Muslim honor crimes increased 47% compared to 2009. The attacks included murder, mutilation, beatings, abduction and acid attacks.

What impact do they have on mankind?
-The United Nation’s Human Development Index ranks nations by life expectancy, literacy, education and GDP per capita. The top 50 encompass 700 million in Judao-Christian nations; Muslim nations encompass 5 million people (out of 1.5 billion Muslims).
`-The Freedom House rates the degree of freedom in all regions of the world. Its 2011 report rated the Middle East and North Africa 78% not free.
-1/29/07 Daily Telegraph UK: 40% of Muslims, ages 16 to 24, want Sharia law; 13% admire al-Qaeda; 36% believe apostates should be executed; 75% believe that women should wear veils.
-5/22/07 Reuters: 25% of young American Muslims believe in suicide bombings to fight the West.
-7/10/07 worldpress.org: Poll of Muslims in Egypt, Morocco, Pakistan and Indonesia indicates that 75% believe in strict application of Sharia law.
-7/27/08 Sunday Times UK: 33% of Muslim students support killing for islam; 33% want world Islamic law.
-12/5/10 LA Times: A new Pew Research Center poll shows that majorities in Pakistan, Egypt, Jordan and Nigeria would favor changing the current laws to allow stoning as a punishment for adultery, hand amputation for theft and death for those who convert from Islam to another religion.
-November 2011 MacDonald-Laurier Institute poll of Canadian Muslims: Only 39% of respondents disagree strongly with the idea of introducing a Caliphate (world Sharia law); 75% wish that Sharia law be implemented; 20,000 support Al Qaeda.

Ken asks…

following WW II did the Japanese auto market..?

had something to do with the American’s auto industry?
i just want to know was the success of japan’s auto industry had US to thanked for.

Mustafa Singapore Admin answers:

DETROIT-In 1952, Charles Erwin Wilson, then the president of General Motors, told the Senate Armed Services Committee: “What’s good for General Motors is good for the country.” In 2004, that axiom may have to be reversed and amended. What’s bad for General Motors may be bad for President Bush’s re-election chances.

If history holds, Bush’s chances for a second term will depend more on the performance of the American economy over the next 18 months than on the success of U.S. Troops in the looming war against Iraq. And administration expectations that the economy will bounce back soon after the Iraq situation gets sorted out depend on a strong performance by major U.S. Industrial sectors-especially the automobile industry, which accounts for about 7.8 percent of all manufacturing in the United States. Today, the prospects for that are decidedly mixed.

Vehicle sales are at near-record levels in the United States-16.9 million in 2002-but that is an illusory image of success. A rising portion of those sales comes from imports, which create no high-paying U.S. Manufacturing jobs. Moreover, automakers’ unprecedented and unsustainable low-rate financing deals, which amount to a subsidy for every car sold, have been artificially sustaining new-car sales. A slowdown in sales would pose problems for the industry, because production overcapacity haunts both U.S. And foreign producers. Furthermore, thanks to falling prices, profits are down at Chrysler Group, the American division of DaimlerChrysler; Ford Motor; and General Motors. To compound the industry’s problems, the Big Three face contentious contract negotiations this summer with the United Auto Workers.

Auto-making has been a growth industry in recent years. Automobile manufacturers around the world have added about 19 million units in production capacity since 1990 and can now build about 77 million cars and light trucks per year, according to Autofacts, a PricewaterhouseCoopers subsidiary in Bloomfield Hills, Mich. But consumption of new vehicles this year is expected to total only about 56 million units. As a result, overcapacity in the auto industry is now about 27 percent worldwide. “At some point, something has to give,” said David Snyder, director of business development for Ford.

In theory, such a mismatch between supply and demand should not be a problem. “To an economist,” said Mustafa Mohatarem, GM’s chief economist, “it’s an irrelevant concept in a competitive industry.” In a rapidly changing market, successful firms will always be expanding to meet demand, and unsuccessful companies will be stuck with capacity they can’t use, Mohatarem says. “I only get concerned when capacity is the result of government action.”

But in practice, global overcapacity is a driver behind several problems now facing the Big Three.

As the world’s largest vehicle market, the United States is an attractive release valve for other countries’ excess capacity. And evidence is mounting that our Asian trading partners are doing what they can to keep that valve open. Japan’s domestic automakers, which can produce several million more cars than that country’s weak economy can absorb, are the worst offenders. Desperate to preserve manufacturing jobs, the Japanese government has repeatedly intervened in the exchange-rate market to ensure a weak yen, thus making Japanese cars-and other manufactured products-more affordable to foreigners.

The tactic has worked. Five years ago, 8.3 percent of the cars and light trucks sold in the United States were imported from Japan. Last year, the Japanese import portion of the U.S. Market had grown to 10.4 percent. Cheaper auto parts imported from Japan have also helped U.S.-based Japanese automakers-Honda in Ohio, Toyota in Kentucky, and Nissan in Tennessee-grow their American-built share of the U.S. Market, from 15.3 percent in 1997 to 17.5 percent in 2002. Today, Japan is reaping huge benefits from controlling 27.9 percent of the lucrative U.S. Auto market. Analysts think that about three-quarters of Japanese automakers’ profits now come from sales in the United States.

Japan’s rising market share and the profits derived from it have potential long-term consequences for the Big Three, because Honda, Nissan, and Toyota are using that money to build more plants in the United States, solidifying their larger market share here.

They are also using their profits to expand capacity in China-the world’s fastest-growing market. Honda recently started up a new facility in Guangzhou that builds Odyssey minivans and Accords. Nissan and Toyota have announced plans to build factories in China, too. As a result, some auto analysts think that by 2010, China may have the capacity to build 7 million cars and light trucks, more than twice its current output. Most of those vehicles will go to China’s burgeoning domestic car market. But Honda is already promising to export cars from Guangzhou. And if it does, its competitors will not be far behind. Already, the value of Chinese-made auto parts imported into the United States has risen dramatically.

“China is where Korea was 25 years ago,” observed Ron Glantz, the retired dean of American auto analysts. “But 10 years ago, the Koreans started exporting with a vengeance. And I think the Chinese can do it faster than the Koreans did.” The reason, Glantz said, is that “the Koreans used their own management and bought obsolete technology. The Chinese are not buying obsolete technology, and they are letting in some first-rate management teams.”

For Chrysler, Ford, and GM, this growing competition abroad, combined with their shrinking market share at home-the Big Three have lost 10 percent of the market in five years-spells trouble. If they sell fewer cars, their employee health care and pension costs-now billions of dollars annually-have to come from fewer vehicles, thus increasing the per-vehicle cost. And Japanese and German manufacturers abroad don’t share that burden, because their governments pick up much of those costs for their workers. In addition, Japanese and German companies building cars here in the United States generally have a younger workforce and nonunion contracts, both factors that work to keep their employee expenses lower.

But these are only some of the domestic industry’s growing problems. Starting in the mid-1990s, the price of building a car began to fall for the first time since the era of Henry Ford, thanks to long-overdue improvements in automating production. As a result, a car costs less today than a comparably equipped one did five years ago. That’s good for consumers, but falling prices, combined with projected falling sales volumes, could mean even lower profits for the Big Three for the foreseeable future.

And that could mean hard bargaining when the domestic industry’s contract with the United Auto Workers expires in September. The Big Three have yet to show their hand, but some analysts assume that automakers will demand revision of the “no-plant-closure” provision of the current UAW contract, so that they can bring their production capacity in line with their shrinking market share. That could mean layoffs. But the industry will also likely demand a change in the current contract provision that forces the Big Three to continue to pay laid-off workers most of their current income. With pension and health care costs per vehicle on the rise, the automakers are also likely to press for cuts in these benefits.

The prospect of less-well-paid autoworkers at the Big Three building fewer cars isn’t a rosy forecast. Workers need more money in their pockets, not less, if they are to help revive the struggling American economy. To be sure, expanding production by Japanese, German, and Korean manufacturers in the United States is an economic benefit. But they pay their workers less and give them fewer benefits. So each of those workers pumps less into the economy than a UAW member does.

The more important issue for Karl Rove, President Bush’s political adviser, is that foreign automakers produce cars largely in Republican-dominated “red” states in the South-Alabama, Kentucky, and Tennessee-a region Bush carried in 2000 and is likely to carry again easily in 2004. The Big Three autoworkers’ jobs and benefits that are at risk, are disproportionately in “blue” states-Illinois and Michigan-which went Democratic in the last presidential election and will be hotly contested in 2004.

The White House can do little about any of this. Import restraints would do more harm than good to the overall economy. And overcapacity is a global, not just an American, problem. But the Bush administration could become more vocal about Japan holding down the value of the yen. It could also make it clear to Beijing that Washington will not sit by and let China follow Japan’s weak-currency strategy to build up its own auto and auto-parts exports. And Democratic presidential candidates could raise the issue of easing the pension and health care burden borne by all U.S. Manufacturers, including automakers-costs that put manufacturers at a competitive disadvantage internationally.

Washingtonians with long memories will note that these issues are all reminiscent of the industrial-policy debates of the 1980s, and that they seem out of step with the tax and budget fights that now consume Capitol Hill. But it is nitty-gritty, industry-specific issues such as these that are sapping the U.S. Economy’s overall performance. George W. Bush, and his Democratic challengers, ignore them at their peril.

Laura asks…

Why is insurance haram in Islam?

references required!!

Mustafa Singapore Admin answers:

I know it’s a lot to read but… Probably worth it.

Dr. Monzer Kahf, Scholar in Islamic Economics & Financial Expert,

“In the circles of contemporary Shari’ah scholars, there are three opinions about life insurance. They all recognize that it is a new contract not known in the history of Fiqh. A minority consider it haram and with all kinds of argument against it including Riba, gambling, gharar and speculation on the will of Allah. This view does not carry much weight.

The second view is that it contains gharar because no one knows whether the liability of the insurer (the company) will ever materialize nor when it will, if ever. This is a serious gharar that leads to a major defect in the contract. It is therefore forbidden.

The third opinion is presented by the late Sheikh Mustafa al Zarka. He argued that the gharar in the contract is remedied by the fact that it is a contract based on overwhelming statistical knowledge and the application of the theory of probability. With this in mind, there is no gharar on the part of the insurer and the contract is permissible with two conditions: that it contains no Riba clause and that its subject (insured thing) be legitimate. These two conditions rule out regular fixed return life insurance because the value of the policy is the outcome of investment premiums at a compounded rate of interest, (while variable – return life is permissible if the funds are invested in the Shari’ah approved stocks or mutual funds). They also rule out insuring a prohibited activity such as casinos.

The advocators of the second opinion argue that the gharar problem applies only in exchange contracts. If the contract is modified and restructure on the basis of cooperation or mutuality, where there will be an association of the insured instead of a profit motivated insurer company, the gharar is then tolerated. This is so because the relation between the association and its members become based on contribution or tabarru’ rather than exchange and a tabarru’ can accommodate certain conditions ( i.e., that the association compensate in case a hazardous event happens). On the basis of this all the “Islamic insurance companies” were established.

In this regards, al-Zarka adds, that if a mutual or cooperative insurance exists he prefers it to profit motivated insurance out of his respect to the opinion of opponents. There is an old argument (from the 1950s), even by those who oppose insurance, that whenever insurance is forced by law, one must do it and one is excused, from the Shari’ah point of view. This include car insurance, social security, workman compensation, and employer’s imposed insurance if it is not optional for the employee to this we add another element that if the insurance provided by the employer is paid completely from the employer, i.e., given as a fringe benefit without deducting any part of the premium from the pay checks, then it is a kind of grant from the employer and if a hazard happens the paid policy amount is halal because it is an outcome of the grant.

Now think for yourself: if your life insurance is only term life, you may apply the opinion of Sheikh al-Zarka, and if it is imposed by employer, you also have room to accommodate, and if it is a grant from employer it is also tolerated. Otherwise you need to see the specifics of the contract you have and determine, in the light of the above briefing, whether you keep or seek to withdraw from it.”

Sandra asks…

is life insurance allowed in Islam?

Mustafa Singapore Admin answers:

Salaam

The following scholarly explanations explains it
http://www.islamonline.net/servlet/Satellite?pagename=IslamOnline-English-Ask_Scholar/FatwaE/FatwaE&cid=1119503543412
http://www.islamonline.net/servlet/Satellite?pagename=IslamOnline-English-Ask_Scholar/FatwaE/FatwaE&cid=1213871713716

For the benefit of those who might not have the time to see what’s said on the link above, I will submit the full details of a question that was asked on Life Insurance from the above link:

“Question asked was: I was automatically enrolled for life insurance with my company. I would like to know if I must cancel the life insurance policy or not. Can you please explain if it is haram or halal and why?

Answer given by Scholar:
In the Name of Allah, Most Gracious, Most Merciful.

All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.

Dear questioner, we would like to thank you for the great confidence you place in us, and we implore Allah Almighty to help us serve His cause and render our work for His Sake.

Life insurance is a new contract not known in the history of Fiqh. Muslim scholars have different opinions regarding this kind of insurance.

Responding to the question, Dr. Monzer Kahf, Scholar in Islamic Economics & Financial Expert, states the following:
In the circles of contemporary Shari’ah scholars, there are three opinions about life insurance. They all recognize that it is a new contract not known in the history of Fiqh. A minority consider it haram and with all kinds of argument against it including Riba, gambling, gharar and speculation on the will of Allah. This view does not carry much weight.

The second view is that it contains gharar because no one knows whether the liability of the insurer (the company) will ever materialize nor when it will, if ever. This is a serious gharar that leads to a major defect in the contract. It is therefore forbidden.

The third opinion is presented by the late Sheikh Mustafa al Zarka. He argued that the gharar in the contract is remedied by the fact that it is a contract based on overwhelming statistical knowledge and the application of the theory of probability. With this in mind, there is no gharar on the part of the insurer and the contract is permissible with two conditions: that it contains no Riba clause and that its subject (insured thing) be legitimate. These two conditions rule out regular fixed return life insurance because the value of the policy is the outcome of investment premiums at a compounded rate of interest, (while variable – return life is permissible if the funds are invested in the Shari’ah approved stocks or mutual funds). They also rule out insuring a prohibited activity such as casinos.

The advocators of the second opinion argue that the gharar problem applies only in exchange contracts. If the contract is modified and restructure on the basis of cooperation or mutuality, where there will be an association of the insured instead of a profit motivated insurer company, the gharar is then tolerated. This is so because the relation between the association and its members become based on contribution or tabarru’ rather than exchange and a tabarru’ can accommodate certain conditions ( i.e., that the association compensate in case a hazardous event happens). On the basis of this all the “Islamic insurance companies” were established.

In this regards, al-Zarka adds, that if a mutual or cooperative insurance exists he prefers it to profit motivated insurance out of his respect to the opinion of opponents. There is an old argument (from the 1950s), even by those who oppose insurance, that whenever insurance is forced by law, one must do it and one is excused, from the Shari’ah point of view. This include car insurance, social security, workman compensation, and employer’s imposed insurance if it is not optional for the employee to this we add another element that if the insurance provided by the employer is paid completely from the employer, i.e., given as a fringe benefit without deducting any part of the premium from the pay checks, then it is a kind of grant from the employer and if a hazard happens the paid policy amount is halal because it is an outcome of the grant.

Now think for yourself: if your life insurance is only term life, you may apply the opinion of Sheikh al-Zarka, and if it is imposed by employer, you also have room to accommodate, and if it is a grant from employer it is also tolerated. Otherwise you need to see the specifics of the contract you have and determine, in the light of the above briefing, whether you keep or seek to withdraw from it.”

Powered by Yahoo! Answers