Video: BBS meets CB Governor over Islamic Banking

23 June 2015 10:41 am - 22 - {{hitsCtrl.values.hits}}

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The Bodu Bala Sena (BBS) organisation today met Central Bank Governor Arjuna Mahendran to discuss the recent move to offer financial services under Islamic principles by private banks.

“Islamic banking is a concept of Sharia Law, which prohibits the charging and receiving of interest rates. Islamic banking is one of the fastest growing sectors in the global banking industry and had been adopted by several countries, where the majority is not Muslim,” BBS General Secretary Ven. Galagodaatte Gnanasara Thera said at a media briefing after the meeting. The Thera also asked Parliament members, why they were mum on the issue in Parliament.

He charged, the Sharia Law had made its way into the school system as well as into the legal system smoothly without being screened.

“We directly blame the previous government for not taking actions on the spread of Sharia Law as we showed them, who are behind these moves. An immediate discussion was called with the CB Governor to discuss the issue, which is a threat to Sri Lankan society,” the Thera said.

Meanwhile, BBS Chief Executive Officer Dilantha Vithanage addressing the media outside the Central Bank said that there was no legal basis to establish Islamic, Sharia or Halal Banking system in the country.

“These banking systems had been introduced through the weak points after the Banking Act-2005 was amended. According to information, it had been clearly mentioned that the Islamic banking system is a part of the Sharia Law. Sharia Law is not a law in Sri Lanka and this is totally against the Banking Law in Sri Lanka,” he said.

He said the Sharia banking system would alter the present Banking system, accounting system and financial fundamentals.

He said that according to the documents presented supporting the introduction of Islamic banking, which is a key facet of the Sharia, was the prohibition of ‘socially and morally harmful investment activities,’ in terms of Sharia Law. (Chaturanga Pradeep)

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Comments - 22

mole Tuesday, 23 June 2015 09:19 PM

Excellent advertisement!

siraj Thursday, 25 June 2015 06:27 AM

I think bbs is getting fund from middle east to promote islam. Already they explained what is halal and haram, now about islamic economics.

devin Wednesday, 24 June 2015 09:19 PM

You mean eat "halal" and bank "shariya"; then feel good!

As Wednesday, 24 June 2015 01:46 PM

This is good news. We appreciate your efforts

Giabao Wednesday, 24 June 2015 11:18 AM

I think what they want is to to make sure shahria lending is funded only with "halal" funding. make sense. LOL

Ala Wednesday, 24 June 2015 05:52 AM

Can we also stop shops selling Wattalapan and Biriyani

Ahamed Wednesday, 24 June 2015 05:46 AM

after boycotting halal now they have started to boycott islamic banking. whats next ?

Economist Wednesday, 24 June 2015 05:48 AM

What qualification does the thera have on economics to evaluate the banking aspects Please save the Buddists from Alcohol Prostitution Gambling Drugs etc. via DM Android App

banda Wednesday, 24 June 2015 04:53 AM

what is doing this monk. without having any respect to basic teaching of great Buddha now looking financial institutions, how they leading and managing .when it comes to money ,monk has nothing to do. this tugs now thinks he can control every thinks in the country. you better have drink in the noon and sleep well.

shan Wednesday, 24 June 2015 04:19 AM

Tired of shouting against Halal! Now new serial begins...!

true lankan Wednesday, 24 June 2015 04:17 AM

funded by a we present the future bank via DM Android App

minan Tuesday, 23 June 2015 04:24 PM

Muslims of this country did not ask the government of any authority to implement Islamic Banking. Why not you tell the commercial banks not to adopt this type of banking.

nandanee Tuesday, 23 June 2015 05:13 PM

Correct me if I am wrong. Does not the Dharmapada abhor Usury or for a matter of that lending money even at nominal rates of interest ? - The underlying principle in non Sharia banking principles is interest based, whereas Sharia banking is profit and loss based applicable both on the Bank and the Client.

Lal Tuesday, 23 June 2015 05:05 PM

I have being working in the state of Doha.Qatar for the last 15 years and wish to inform the general public in Sri Lanka that I have observed 75% percent of eatables that are to be sold in upmarket supermarkets does not carry HALAL certification.muslims in this oil rich countries give a damn for these things and may I ask what has got into Muslims in srilanka being a minority.hundreds of years we were living peacefully in this country

Dutchy Tuesday, 23 June 2015 04:58 PM

Sharia Law is a symbol of hardline Muslim communities. As Sri Lanka is a Buddhist country, the govt must take immediate action to prevent Sharia Law from spreading to education,banking and legal system of the country if it had already imbedded into our system.

mala Tuesday, 23 June 2015 04:55 PM

The money earned by our housemaids in the Middle East is under Sharia. This is equally outrageous. Reverend Monks Sirs - Please, please force the authorities to get back all our dear mothers and sisters, than getting our coffers filled with such dirty money for which they slave.

Silva Tuesday, 23 June 2015 04:47 PM

Ane, ape hamuduruwane! Please stop this!

justicia Tuesday, 23 June 2015 04:47 PM

suggest that BBS also finds valuable time to study and analyse whether we should continue using the present Roman Dutch laws as well. After all there should be superior laws and statutes which our Kings (both Sri Lanka born and those imported from South India) used in their administrations.

Raj Tuesday, 23 June 2015 04:42 PM

Islam is like a cancer, it spreads smooth and slow until it make the kill,.no point shouting - they are growing in numbers

Noor Tuesday, 23 June 2015 04:34 PM

He is in Central Bank. Where is your next visit ? Change the way you look at things and the things you look at will change ! The way we see the problem is the problem.

Mm Tuesday, 23 June 2015 04:28 PM

Who wrote the country to u? Even Buddhism came to Sri Lanka..

Bala Tuesday, 23 June 2015 04:25 PM

Unfortunately no one explained why prohibition of ‘socially and morally harmful investment activities, is harmful or an obstacle for Sri Lanka to move forward. Is this also not a tenet of Buddhism.

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Video: BBS meets CB Governor over Islamic Banking

Comments - 22

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