text:
Jul 16 2012
Hy and Pi
I had to come to New Yawk for two days, and I brought my friend Hyacinth with me. She and I haven't had a chance to do anything together in a long time, my girls are at camp for the week, and Marlboro Man's having Hyacinth's two boys out to our house while we're gone.
I don't even want to think about how many potato chips are being eaten right now.
This is where Hy and I are staying. I stayed here once before, and it is a very, very funky hotel filled with extremely young and extremely upwardly mobile and hip not-old youngsters. Hyacinth is over there talking to the concierge, asking him what two women in their forties should do around here in their free time. He suggested playing Bingo in their lounge. At first we thought he was kidding, but in fact they do hold Bingo games in their lounge on Sunday evenings. Then we decided to be insulted because he must really think we're old to suggest that we go play Bingo. But then he explained that it's a hip, new version of Bingo, and that young, hip people attend. So we looked at each other like "Cool! We should play young, hip Bingo!"
Then we said, "What time does it start?"
"10:30 tonight," he replied.
And we fell on the floor in laughter.
After eliminating young, hip Bingo from our plans, we just decided to take a stroll. This is an area of New York I don't know much about, and it's charming.
Hy gravitated toward some boys playing basketball, and it made her miss her boys.
I then reminded her that her boys were being well taken care of by my boys.
Then she immediately called the airlines to see if she could get a flight back home.
Just kidding. I think.
This is where Hyacinth and I parted ways. I happened upon a nail place where people were getting manicures and pedicures simultaneously, and where people's shoulders were being rubbed at the same time they were receiving simultaneous manicures and pedicures. This pretty much sums up everything I want in life. Hyacinth, on the other hand, has no interest in sitting still long enough to get her nails painted.
"Goodbye, Hyacinth," I said. "I'll see you on the other side."
And I proceeded to get my nails painted the same color Ga-Ga always chose. It's basically the color of skin, and it will forever remind me of Mary Tyler Moore, because that's what Ga-Ga used to watch when she painted her fingernails.
Eventually, Hy and I met back up at a cute little place where we split three appetizers and ordered wine spritzers, because that's what old women who want to act like young, hip women order when they stay in a trendy area of New York and decide not to play Bingo because by the time it starts, they'll be deep in REM sleep.
By the time we finished our last bite and covered our last topic—it was something about what we think each of our children will be doing with their lives ten years from now—we realized we had to get back to the hotel before dark so we could get the rollers in our hair and take off our makeup with Ponds cold cream.
We made it to our room a good two hours before the Bingo game was scheduled to start.
It made these two old women very, very happy.
200 Comments and 17 Replies
Kim On Monday, July 16 at 5:58 pm
I know you gals will have some great "girl time". Enjoy!
Valerie@chubbybunny'sink On Wednesday, July 18 at 5:32 pm
Two wild women indeed! Watch out now don't want to do anything that we wouldn't do.
Lisa H On Monday, July 16 at 5:58 pm
Have fun!! Stunning view! I laughed because I, too would be asleep by 10:30!! Come to Chicago!
Kitty On Monday, July 16 at 5:59 pm
What a fun thing to do with a girlfriend. I love NYC!
Rebecca @ Sink Or Swim On Monday, July 16 at 5:59 pm
You two are adorable! I want to join you!
Sru On Monday, July 16 at 6:01 pm
I hope you guys have fun and get some much needed rest!
Denise Lamb On Monday, July 16 at 6:02 pm
Sounds like you are having a fun time in NYC.
The hotel looks interesting and I love the view out the window.
Hope you enjoyed your short stay in NYC.
Davida On Monday, July 16 at 6:03 pm
Sweet dreams, you hip YOUNG THINGS.
Judy On Monday, July 16 at 6:04 pm
Glad to hear you're enjoying girlfriend time!
Peggy N On Monday, July 16 at 6:08 pm
It's always great to get away with a girlfriend. It doesn't happen often enough as far as I'm concerned. Hope you both enjoy your time away. If you happen to be anywhere near "The Shop Around The Corner" you should share a photo or two.
Melissa in Texas On Monday, July 16 at 6:10 pm
Have fun girls! Love the view from the hotel window.
Natalie, the Chickenblogger On Monday, July 16 at 6:15 pm
Bookmarking, adding to my travel folder: done.
Great, now I'll have some guidance and words
of wisdom to refer to, in case I ever have days in
the Big Apple, with a girlfriend and loose change to spare.
Wait, do the hip people even say "Big Apple?"
Alas, I may be doomed to remain tragically unhip,
or worse: simply, tragic.
Jodee in WA On Monday, July 16 at 6:28 pm
The only time I have ever been in NYC was when my oldest was 9 months old, teething and learning to crawl. I made a really stupid trip from Seattle WA area all the way to Deleware on a GREYHOUND bus… by myself…with said infant. Yeah, it sucked. And we had an 8 hour layover in NYC. Scary place for a 21 yr old with a baby from Podunk, Nowhereville!
Belinda On Monday, July 16 at 6:29 pm
I kinda feel cool right now, I'm pretty sure I've never made a front page comment on your posts before Pi! I am pretty impressed with your Hy and Pi title, and even more impressed that I got it. I'm slow sometimes. Looks like so much fun! I'm so happy that through all of your busy-ness (?) over the years, that you've maintained such wonderful friendships! Have tons of fun!
Tamara On Monday, July 16 at 6:34 pm
I live in ny and never have that much fun. I look forward to your posts everyday, wishing we were friends. Your sense of humor is just like mine!
Janice On Monday, July 16 at 6:34 pm
It's always nice to get away with your friend. Hope your time in New York is the best!
kathy (yaya) On Monday, July 16 at 6:38 pm
I love NY and the last time I went my Mom went with me..she's 86..and hip..but I bet we still were asleep long before you two were!
Lynda (Still Woods) On Monday, July 16 at 6:40 pm
What a beautiful view from your hotel window! Girl time…priceless!
BB On Monday, July 16 at 6:41 pm
What's going on? You AND (Country Girl) Kate in the Big Apple and blogging about it. Making me yearn for another visit and explore… no fair. You have great friendships Ree – such a vital part of being happy, no? I would so love to steal one of my girlfriends away to visit NYC… thanks for sharing the visit and the friendship.
Simple Girl On Monday, July 16 at 6:44 pm
I agree. Staying up late and partying with the Bingo crowd is way over rated!
AngAK On Tuesday, July 17 at 3:14 pm
I dunno, sounds like all sorts of fun, especially if adult beverages were served. worth a girl's late night out—no driving!
Shana On Monday, July 16 at 6:50 pm
My husband and I were in NYC last September for a glorious 5 days, and all five of them ended with us sleeping before 10pm. With the exception of the whole danged reason we went to NYC, his best friend's wedding. That night, we were up until way past 1am – it was SO MUCH FUN! But when we got ready for bed and were laying in bed reviewing the evening, we both – apparently – fell asleep mid sentence.
Fun times.
Kim A On Monday, July 16 at 6:59 pm
Sounds like a great girls getaway. Have fun.
Cheryl Barker On Monday, July 16 at 7:18 pm
Aw, go ahead and live on the wild side, Ree. Play Bingo tonight!
Kelley Kay On Monday, July 16 at 7:18 pm
My new name is Jealous. You can call me that from now on…
Cindy D. On Monday, July 16 at 7:22 pm
When I first read that you got your nails painted like Ga-Ga I thought you meant Lady Gaga. Had to read it a couple of times until I remembered that your grandmother was GaGa. I couldn't imagine LG watching the Mary Tyler Moore show and why that would make you cry. Now I get it and all is right with the world.
annie On Monday, July 16 at 8:42 pm
Ha, thanks for explaining that!! I too thought Ree meant Lady Gaga.
Lindie On Monday, July 16 at 7:23 pm
What a beautiful view out your windows!
Denise in VA On Monday, July 16 at 7:23 pm
Haha! I, too, would be asleep by 10:30. I feel ya, girlfriend…
Laura in Tally On Monday, July 16 at 7:23 pm
What a view from your hotel room… wow! I really need to get back up to NYC soon. See a couple of Broadway shows, visit Central Park, eat some delish food…
MaryE On Monday, July 16 at 7:25 pm
Hi Ree!
A colleague and good friend of mine was in New York last week, and when I saw her today I asked, "How was New York?"
She said without hesitation, "It was HOT!!!"
LOL! Enjoy and keep hydrated!!
Christina On Monday, July 16 at 7:26 pm
HEY! That's my playground! And my nail salon! And I know which hotel you're in *wink wink*. Enjoy If you're still in town, you should pop over to Dos Caminos for dinner. Yum!
Marcia M On Tuesday, July 17 at 9:28 am
I wanna stay at that hotel, and go to Dos Caminos. can you share the name of the hotel. after they've returned to Oklahoma, of course.
Rocket On Tuesday, July 17 at 11:14 am
My hubby and I go to NYC 2-3 times a year and we always make time for Dos Caminos! Double yum!
jeanne On Monday, July 16 at 7:28 pm
I'm still stuck on the young hip cool Bingo. How do you make Bingo young and hip? Just make it later?!!
Mary On Monday, July 16 at 7:30 pm
Ree, you're a hoot! I'd love to be with you and I'd def do the mani/pedi/massage thing. Twice. Love your stories!
Bethany / Sweet Georgia Sweet On Monday, July 16 at 7:33 pm
That mani/pedi/massage place sounds heavenly!
Christienne On Monday, July 16 at 7:35 pm
HA HA – I'm on long island and I think you've been to our city more times than me already!!
Welcome to our city – hope you gals had / have a great time!!
Next time call me… I could use an out of town tour guide of my own city!!
laura On Monday, July 16 at 7:36 pm
jealous! what's the name of this hotel? i'm planning a girls' trip, and it looks right up our alley!
Stacey I On Monday, July 16 at 7:41 pm
I was in NY this weekend too!! What an incredible place….
Jan On Monday, July 16 at 7:45 pm
Oh, I love New York. So happy you had fun. And love the last picture…you perfectly captured what is called "The Blue Hour"…. a special time of day for taking photos.
K.Young On Monday, July 16 at 7:52 pm
I knew that looked familiar – you're in the West Village! I love NY too and was just there 2 days ago; stayed with my son who lives in the East Village. I was meeting up with blogging friends at a farewell dinner for one of them who is moving away. We ate at Robert on Columbus Circle. It's on the 9th floor above the Museum of Art & Design. The food and the views are absolutely incredible. You'd love it. I've got some photos of it on my blog today. Enjoy, Ree ~ I love being in NYC with girlfriends. Lucky you two!
Diana On Monday, July 16 at 7:52 pm
I think I want to go to New York with you sometime. You seem to know all the Cool places to go!
Stephanie On Monday, July 16 at 7:53 pm
Ahhhhhhh …. I love NYC. I am envious, but like you – I would wonder how I could function (now at the ripe age of 50+) in a place where things START at 10:30. No thank you! But I do miss New York! Thanks for sharing it with us.
Constance On Monday, July 16 at 7:54 pm
You are a HOOT…
A friend and former colleague of my husband lives in Las Vegas and says that there is mud wrestling with gorgeous young chicks that he really wants to see … "but it starts way too late for him."
We laughed outloud.
And I laughed outloud at you and Hy. LOVE it.
Pam On Monday, July 16 at 7:58 pm
That's about the coolest hotel I've ever seen. Beats the Hampton Inn (which is comfy, but not exactly cutting edge). Have fun in NYC. Maybe you can find a hip shuffleboard game someplace.
D. Harley On Wednesday, July 18 at 11:46 am
On 21st &3rd Ave, called Plug Uglies, they have shuffle board.
D. Harley On Wednesday, July 18 at 11:50 am
Plug Uglies has ShuffleBoard. It's a little pub in Gramercy.
BusyMomofTwins On Monday, July 16 at 8:00 pm
I was just in NYC. But I was travelling with my kids, so no nail salons for me! Loved reading about your adventures.
Karon On Monday, July 16 at 8:13 pm
OK I am probably dating myself here but when you were at the park on Bleecker Street did you sing Simon and Garfunkels song Bleecker Street?
Julie H On Monday, July 16 at 8:14 pm
Lord, that sounds amazing *sigh* Especially being in the room (with no kids jumping on the beds) before dark. Have a great time for all of us!
Lisa On Monday, July 16 at 8:25 pm
Amazing views! I would love to visit NYC someday, but I'll probably be in bed by 11:00. I'm old like that…
Cyndi Adams On Monday, July 16 at 8:32 pm
Sounds like you two had a great time.
Anita On Monday, July 16 at 8:33 pm
Travel with family is great, but I'm so glad you had a chance for a trip with your best friend, nothing is more fun! Enjoy!
Nicki On Monday, July 16 at 8:40 pm
Ree that is an amazing view. I would of probably not slept and grabbed two chairs and sat close to the window sipping on a glass of ice tea and chatting it or listening to music. I hope the two of you had a great time in NY. I love reading your blogs and can't wait until the fall season of PW. I caught a Paula Deen show the other day with you on it with your family when the kids were younger. I just love watching the two of you together cooking up a storm.
Auntie Lenie On Monday, July 16 at 8:40 pm
It looks like you are near the Chelsea Market area. If you are you should def go to the "salt store" on Hudson around 10th st. It's called "The Meadow" (there's one in Portlandia, too, but I've never been there) and sample the amazing salts and bitters that they sell. Oh yeah, they also have chocolate and flowers…
Nancy On Monday, July 16 at 8:41 pm
I am cracking up at the ponds cold cream comment!
Bonnie On Monday, July 16 at 8:50 pm
Looks like fun! Hubby and I just returned from our annual trip to Scotland. We stayed at the Missoni in Edinburgh the night before we flew out. Yes, we are old by many definitions, but the staff made us as welcome as the 20 somethings. No bingo, but great food and spa. Enjoy your stay.
Linda On Wednesday, July 18 at 5:27 am
Lucky you Bonnie staying in the Missoni. I live just outside Edinburgh and love the look of that hotel, especially the doorman in his Missoni kilt! Hope you got some dry weather when you were here, it feels like it has been raining forever.
Cindy in GA On Monday, July 16 at 8:55 pm
I love New Yawk! Have a grand time, Hy & Pi.
Karen On Monday, July 16 at 8:57 pm
My son's given name is Pierson but we call him Pi for short. When I saw the title of the post I smiled and laughed to myself. ;).
Leatitia On Monday, July 16 at 8:59 pm
Would you mind telling me at which hotel you were staying? I'm looking for a great hotel to stay at for a future NYC trip.
Gloribee On Tuesday, July 17 at 10:47 am
The Standard Hotel. I was there a couple years ago. Great place to stay and see the sights.
JT On Monday, July 16 at 9:05 pm
Pioneer Woman –
You might want to watch this video from Reinhard Bonnke's ministry of a deliverance of a "Water Witching" woman in Akure, Nigeria.
christy On Monday, July 16 at 9:07 pm
That view from your room is AMAZING! I too heart New York. I need to go back. Glad you had fun and the boys ate the junk food so you wouldn't feel obligated. HA!
beks On Monday, July 16 at 9:11 pm
Hy apple Pi in the sky hopes :-]
Laura M On Monday, July 16 at 9:15 pm
I would love to do a trip with my three sisters to New York, the hotel looks like so much fun.
Joyce and "Sam"antha On Monday, July 16 at 9:21 pm
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P.S I Have Lived In Montana And North Dakota Never Seen A Marlboro Man! Bummer!
Turtle Mom On Monday, July 16 at 9:25 pm
I LOVE the view from your room! The Pond's cold cream comment made me literally LOL Are you applying Dippity Doo before you roll your hair in pink foam center curlers? hehehe
Mairead On Monday, July 16 at 9:29 pm
I love NY. I worked in the city for over 3 years and loved every minute of it. There is no place on earth quite like NYC.
Margaret On Monday, July 16 at 9:33 pm
I just wanted to let you know that I do know who the Breck girls are! I guess I am confirming that I am the same age as you by admitting that! I also would have laughed that Bingo didn't even start until 10:30pm. When I am without my kids, I'd be sleeping too!
Kristy Evans On Monday, July 16 at 9:35 pm
I LOVE your view of the city!! I want to go back to New York someday! I LOVE it as well!
Amanda On Monday, July 16 at 9:49 pm
Sounds like a lovely time in NYC!
Penny On Monday, July 16 at 10:01 pm
Ree .. could you tell me what hotel it is? I'd like to add it to my "some day I'll stay there" travel file. thank you.
Annie On Tuesday, July 17 at 11:19 am
Looks like The Standard Hotel to me…
LoveFeast Table On Monday, July 16 at 10:05 pm
That is so fun! Remind me of the last time Kristin and I were in NYC ~ we "glamped" at The Waldorf. ~CA
nancypants On Monday, July 16 at 10:18 pm
It sounds perfect. And I'm only 35!
Beki - TheRustedChain On Tuesday, July 17 at 1:13 pm
Whatever. Your skin says you're 22, and you know it!
Jodie in Boise On Monday, July 16 at 10:22 pm
I would love to go to New York with my oldest and dearest friend, the first time I went to NY was with her and we were Juniors in High School on a Spring Break trip. Good times. Would love to do it again. Would love to get the mani/pedi and shoulder massage too.
Have a fantastic time Pi and Hy!!
Lynn J On Monday, July 16 at 10:32 pm
I have only been through the airport in New York. I would love to be able to sample the sights and food. Sounds like you had a wonderful time how fun.
Theresa in Alberta On Monday, July 16 at 10:36 pm
I am not 1/4 as busy as you and I am in bed snoring by 10:30 pm eh Enjoy NYC with one of your best pals and thanks for taking us along for the trip.
Patty On Monday, July 16 at 10:38 pm
Love the view from the window of the room you stayed in!! Never been to New York. Just wish I could get my hubby out of Lafayette, IN and go to Chicago let a lone NY.
I'm Viola over at Along A Widowed Road Blogspot.com On Monday, July 16 at 10:58 pm
Yippee a trip to NYC. I've never been. I will travel along via blogging and can't wait to see your next post.
Lindsey On Monday, July 16 at 11:01 pm
You said nail polish and GaGa and my mind went straight to Lady GaGa, what was I thinking?? Thanks for sharing your travels, we love the peeks !!!
Mary Casstevens On Monday, July 16 at 11:08 pm
What fun you two girls are having. Wish I was there. What a BLAST!!
Sheila On Monday, July 16 at 11:18 pm
Nothings better than getting away with a girlfriend. Glad you two had a chance to do that! Too funny about the late night BINGO, your missing while REMing! Enjoy! HUGS to you both ; D
Shay @ Whine Less, Breathe More On Monday, July 16 at 11:22 pm
Beautiful view! I think I would have to sleep with the curtains open so I could watch the city as I fell asleep.
Goosefeathers On Monday, July 16 at 11:28 pm
I kept looking closely at your streets of New York photos with the absurd hope that one of my brothers might be walking around town and captured by your camera. okay, so I'm a goof. The only reason I'd go to that city is to visit my two brothers who think it's the best place to live in the USA. I hope you and Hyacinth enjoy yourselves there and don't worry about the menfolk back home even if they do chow down on questionable grub.
Sandi On Monday, July 16 at 11:40 pm
Wow, this chick just turned 40 and goes to bed by 10:30 maybe twice a year. Starting after midnight, I'd probably pass. Starting at 10:30 sounds perfectly reasonable to me. (She says, realizing it is 12:40 AM as she types and bedtime really should be happening now.) Maybe I'm not aging as much as the calendar indicates. Then again, I don't do crazy things like get up at 4:30 AM, either, which probably has some impact on bedtime choices.
Seriously, though, how hip and modern can Bingo be? It's not a complicated game that can be modified all that much!
D. Harley On Wednesday, July 18 at 11:48 am
At the Standard Hotel everything is hip, including their bingo night. They book up pretty fast for it too!
ATG On Monday, July 16 at 11:51 pm
Sounds and looks like you were at the Standard. Much fun. How come you avoided mentioning where you stayed and ate?!
Sharon B On Tuesday, July 17 at 12:27 am
Nothing is more fun then a trip with a good friend. Have fun and don't get into trouble.
BTW. That remark about rollers and Ponds brought back some really great memories of my mom. Thanks, I miss her , sniff sniff.
Homeschool on the Croft On Tuesday, July 17 at 3:01 am
I wish I kept your hours … in Scotland, 10.30pm is but the wakening up time
Sadly, it shows in my mornings though …
Having had a wee break in London recently, I've decided I love major cities. One day, it'll be New York
sparkly jules On Tuesday, July 17 at 4:43 am
Oh I'm green with envy. I'm dying to go to New York. But that teeny tiny hotel room way up high with the huge windows? Those would keep me awake. And give me nightmares. Can't do it.
Have fun.
Marea On Tuesday, July 17 at 4:59 am
Oh my good God – just how high were you off of Mother Nature's well designed Earth?! I loved NYC when I visited (from half-way around the world) but I was so pleased – SO pleased – I was only on the 7th floor. That was perfectly high enough for me, thankyouverymuch.
Gorgeous photos as ever.
Don't think about the chips.
Meme On Tuesday, July 17 at 6:14 am
I too would fall on floor laughing about 10:30! Considering I fall asleep between 6:30-7:00. Getting up at 3:00AM comes early.
Cat Cooks in WI On Tuesday, July 17 at 6:31 am
It looks like you're in the west village, right? I love NYC. My older daughter left home (southern CA) to attend graduate school at NYU. She loved it. Her apt was on Bleecker. The view from her kitchen window (if you could call it a kitchen…) was of Father Demo square. She stayed in NY for ten years… I LOVED visiting here there!! There is no city like NYC. Have you been to Murray's cheese?? Gotta do it! It;'s on Bleecker. Have fun, Ree!
Donna J. On Tuesday, July 17 at 6:51 am
Great story, but what is the hotel name?
Many of us would like to know the name of the hotel.
janelle On Tuesday, July 17 at 7:33 am
show us a pic of your mani –how is your Gaga? haven't seen her mentioned for a while.
TrainMom On Tuesday, July 17 at 9:29 am
I know her birthday is coming up soon…it is the same day as a family member.
I, the wife and sister-in-law of former students, have been wondering too.
Mary On Tuesday, July 17 at 6:53 pm
Ditto. Hope she's well.
jeanette from everton terrqace On Tuesday, July 17 at 7:59 am
I would have been with you on both counts – the mani/pedi/massage and falling on the floor laughing at the thought of being up at 10:30. Really made me laugh this morning
Donna On Tuesday, July 17 at 8:17 am
I wanna wake up in the city that never sleeeeepss! http://dje1231.wordpress.com/2012/04/29/sister-bonding-haagen-daz-and-nathan-lane-2/ NYC=SO.MUCH.FUN!!
Shea On Tuesday, July 17 at 8:18 am
Isn't it lovely to have a bestie to hang with and go places? I love the New York you showed us. That is a city that I would love to visit and explore someday. I am so glad you shared your trip!
PenPen On Tuesday, July 17 at 8:20 am
I soo jealous– I would love to be pampered with a manicure and pedicure at the same time. Fun–I'm a shopaholic so it's good that I wasn't there with you. It would have been too tempting to visit all the neat shops. I could see doing something like this with my girlfriends. Thanks Ree for the morning laugh and smiles.
melinda sue On Tuesday, July 17 at 8:28 am
i love everything about this post. and it makes me want to take my cousin and best friend with me on a trip to the big city… then i remember we all have little ones and we're poor. so this trip will have to wait. but someday.
Karen On Tuesday, July 17 at 8:52 am
I have to laugh because, like some of the other commentors, I live (and work) in NY and you've seen more of it than I have. I guess it's like any other tourist destination, where the people who live there are going about their lives, and the people who visit get to really enjoy it. It's nice to get to see it from your POV though! (I wouldn't have lasted for BINGO at 10:30 either!)
Karen M On Tuesday, July 17 at 8:54 am
Have a wonderful time!!
Bev @ Bev Cooks On Tuesday, July 17 at 8:57 am
I use Ponds cold cream too! It's the only thing THAT WORKS.
Wait, you were kidding, weren't you? Oh.
Jen On Tuesday, July 17 at 9:01 am
love nyc! very fun! i live in upstate ny but, the city is wonderful and so full of life!
ps~ i am a bit younger than you and hy but i would have been in bed by 10:30 pm also- hee hee so you are not alone
thanks for sharing!
Francesca On Tuesday, July 17 at 9:05 am
Holy cow – the view from those windows is stunning!
Kath On Tuesday, July 17 at 9:12 am
The Standard Hotel in the West Village, what a dream come true! The view is absolutely amazing. BINGO? How in the heck do you make bingo hip? And, WHY? Definitely not something I would stay up for. Looks like a great trip for two besties. Enjoy.
Jane M On Tuesday, July 17 at 9:16 am
Nuttin like the Meat Packing district. I remember when it was too scary icky to go there – now it's hip! WHOOO HOOO! On Sunday I was waaaaaaaaaaaay uptown at the Metropolitan Museum – fun times and the A/C was SUBLIME! YESSIRRRR!
Mary F On Tuesday, July 17 at 9:17 am
That trip sounds like so much fun!! Just remember, you're not getting older,just getting better!!


text:
Gear Review
Greg Gavin
Work Horse in my house!
I really love this thing. Like really... I bought it for a camping trip late in the summer, and have been using it religiously ever since. It is very easy to clean, very easy to use, and makes a very tasty cup of brew. This lovely contraption has seen at least 5 lbs of coffee, and that is probably a low ball guesstimate. For the price and quality you get it would be a bad decision not to get this percolator. Sure there are espresso makers that are awesome, but this is a COFFEE maker and it kills it!!!
View More Details on GSI Outdoors Glacier Stainless Percolator

subset: commoncrawl


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Why, why, why???!!!!!!
WTF are grown men thinking when they make the conscious decision to put pajama pants on and walk out their front door in public?? This phenomenon boggles my mind and I have seen it increase at an alarming rate.
There is a commonality amongst these men – a large belly, usually semi-covered by a food stained, yellow arm pitted t-shirt, a cough that sounds like a mix between 2 packs of marb reds and a bout with tuberculosis and the smell of stale weed permeating from their person. I am pretty sure most are unemployed or seasonal workers, living in a basement of their mother's home who clearly have no pride in themselves.
Here is a tip – try dressing in real clothes and maybe you would feel a little better about things, get some swagger if you will. In the meantime, please tuck your swinging balls that I can see through your open fly because you're wearing PAJAMA PANTS IN PUBLIC and keep moving… Your stench is disrupting my meal.
X0X0, Jane Russell


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Shopping For A Crib
My husband and I are expecting our first baby this August, so we're on the hunt for a simple white crib. Infants are usually in their bassinets for the first couple of months anyway, but first-time parents often feel the need to perfect the nursery long before baby even arrives, and we're no exception. We've been busying ourselves with preparations since the first trimester.
Our spare room is already quite traditional — plenty of antiques and old furniture that have been in my family for decades. Since this will become the nursery, we'd like to decorate it in the same style. There are already two old dressers in that room that we'll use for the baby, and my sister is giving us her vintage change table (also white), but we're struggling to find a crib and accents that aren't too modern. Here are some of the cribs we've rounded up so far:
The Dylan crib from Duc Duc has that simple look we're going for, but I would prefer an open base and spindles on all four sides.
The Savannah crib, also from Duc Duc, is more my style, but I'm not sure about the wood panelling below the mattress. You can customize it with one of seven different colours, but I'm not crazy about any of them.
Bloom's Alma Max crib is a top-seller, but I think it's a tad modern for our existing furniture.
Oeuf's Sparrow crib is clean and contemporary — a timeless choice that could work in any style of nursery.
This Liberty crib from Franklin & Ben is a fresh take on the antique spindle crib, and I love the detailing on the legs and spindles. Also, priced at around $400, it's much more affordable than the ones above.
The Barcelona classic crib from Natart Juvenile is just as beautiful, but is made here in Canada. Also reasonably priced at $430.
And then there's the Gulliver crib from Ikea. I always go back to this one. It's simple and fuss-free.
What do you think? Will any of these more modern shapes work with our vintage white dressers?
Check out Katie Hayden's blog for more great ideas for kids' rooms.
Photo credits:
1-2. Duc Duc
3. Bloom
4. Oeuf
5. Franklin & Ben
6. Natart Juvenile via Trendystrollers.ca
7. Ikea
Comment Guidelines
We welcome your feedback on Houseandhome.com. H&H reserves the right to remove any unsuitable personal remarks made about the bloggers, hosts, homeowners and/or guests we feature. Please keep your comments focused on decorating, design, cooking and other lifestyle topics. Adopt a tone you would be willing to use in person and do not make slanderous remarks or use denigrating language. If you see a comment that you believe violates any of the guidelines outlined above, please click "Flag as inappropriate." Thank you.


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Step 1: Tools, materials and knowledge you'll need
- Drill and a 5/16" drill bit
- Jigsaw or hand saw
- Bearing balls 5/16" (about 12), marbels will also work fine but they are not as uniformly sized
- 5mm thick board
- One bolt, 2 washers, 1 nut, size doesn't really matter ...... for our purposes
- A round piece of reclaim wood ( you know that tree your neighbour just cut down? )
- Some other stuff you will find useful and around your workplace..... you'll figure it out, right now this are the "must have" things to make this GREAT instructable posible...
oh yeah!... the knowledge part
You will need common sense to avoid accidents and basic carpentry skills.
Step 2: Measuring tape, ruler and pencil step.
Then take 2 or 3 inches of that measurment and draw 3 circles of that size on the 5 mm thick board.
Mark the center of all the circles.
On one of the cirlces you will also mark the position were the bearing balls or the marbles will be, preferably 12 or more depending on the size of the circles and the expected load.
You can distribute the marbles or balls as if ther were the hour marks on a clock. (see 2nd picture below)
Step 3: Prepare all pieces for assembly.... you are almost done step.
Remember that the holes should be just a little bit larger that the marbles or the bearing balls themselves to avoid to much movement.
You also need to drill a hole in the center of all three circles, this should be big enough for the bolt to go through.


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Lindys Sports 2010 Pro Football Preview isn't supposed to come out until Tuesday, but I got my hands on a copy today. Here are some highlights that involve the Dolphins.
1. They pick the Dolphins to finish 3rd in the division and out of the playoffs. They have the Dolphins tied with the Bengals for the 7th best team in the AFC just outside the playoffs.
2. They grade the Dolphins draft as a B and list John Jerry as the player who could surprise from the Dolphins class. They predict he will start. In fact, they predict Odrick, Misi, Jerry and Jones will all start from the rookie class.
3. Chad Pennington is listed as the best backup QB in the entire league.
4. Brandon Marshall is listed as the 9th best Number one receiver in the league. Moss is listed as #3, Lee Evans at #11 and the great Braylon Edwards doesn't crack the top 17 listed.
5. Ronnie Brown is listed as the 6th best All-Purpose back and Ricky Williams is listed as the 9th best All-Purpose back. They also have a list for the top second string running backs and Ricky makes the list at #5. Patrick Cobbs is listed as the 4th best third string running back in the league.
6. They consider Brown, Williams and Cobbs as the best trio of running backs in the AFC.
7. Polite is the 8th best Fullback.
8. Jake Long is ranked as the 2nd best Left Tackle and Vernon Carey is ranked as the 6th best right tackle in the NFL.
9. They believe Tony McDaniel will have a breakout season.
10. Randy Starks is ranked as the 11th best NT in the league.
11. Karlos Dansby is the 7th best inside/middle linebacker just one spot ahead of the Jets Bart Scott. David Harris doesn't make the top 16 list.
12. Vontae Davis is considered to be on the verge of a breakout season.
13. Yeremiah Bell is ranked as the 4th best strong safety.
Below is their ratings by positions. It is out of 10, with 10 being the highest.
Coach: 7.0
They make the comment that there is added pressure on Miami to succeed this year. They end it with this comment if the Dolphins don't have success:
"If not, look for vice president of football operations Bill Parcells to retire to Saratoga Springs and take recently embarrassed general manager disciple Jeff Ireland with him."
There is a lot more coverage on the Dolphins, but those are just a few things that they said. As I have mentioned in other threads, I really don't buy these magazines for Dolphins coverage, half the time I know more it seems about the team then they do. However, I buy them, because I like to be able to read up on teams I might not really follow that closely during the offseason, for example the NFC teams. It is good bathroom material also.


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Register now for free, or sign in with any of these services:
ladybug, you have way too much time on your hands. who the hell cares??!!
I've been to this store with my husbnd. The men who own this store were wonderful and fixed my husband up with a beautiful suit for our daughters wedding. They have very nice clothing, and we will be back!
Your headline reads "Ex-Monkee." Once a Monkee, always a Monkee. There is no such thing as an ex-Monkee. Just ask Michael, Peter, or Mickey.
maybe he was just trying to swim back home to Florida!
last I knew, any company had the right to advertise on any program, on any network, at anytime. did i miss something???
hstar84, you are an idiot.
there is a person in this thread, and you know who you are, who also posted on Facebook in the ABC27 News comment field. Do you write this kind of thing just to get a rise out of people? This is not the forum, nor the time, to cast blame upon anyone, especially their parents. May these young people, and their families and friends, find some comfort from our words.
there is a person in this thread, and you know who you are, who also posted on Facebook in the ABC27 News comment field. Do you write this kind of thing just to get a rise out of people? This is not the forum, nor the time, to cast blame upon anyone, especially their parents. May these young people, and their families and friends, find some comfort from our words.
She's a professional protester. She has this much time to protest the Marcellus Shale drilling project, and Occupy Wall Street, and dress up as a freakin' Zombie?? Who's watching the four kids?? I can just see it when her kids have "Bring your parent to school day." I'm sure they'll be proud to say, "My mommie dresses up as a Zombie and gets arrested!" Good role model there, mom!
P.S. I wonder what her kids get from Santa? Probably just some mindless consumerism stuff.
Mr. Cominsky is the new principal of St. Joe's in Mechanicsburg. nice try....
i think it's a damn shame that national tv doesn't broadcast halftime shows at any college football games anymore. these students work very hard to perform these shows, and even though i am a white female from the west shore, i plan to be there. i don't care what group is sponsoring them, it's certainly going to be a night of great entertainment. if anyone doesn't want to go, (for fear of politicos, cultural organizations, or violence) they can just stay home and watch re-runs of archie bunker.
When these homes were built, sprinklers were not required. i know the gentleman who lives there...nice guy. thoughts and prayers with him and his family.
so, is she in critical condition, or dead? i didn't know they called in homicide detectives for a critically injured person.
hmmm...losekey got very quiet. RIP Maj. Winters. You did good.
so, will parents keep their kids home from school that day, too? will the parents require that the teachers share their follow up lessons plans so that they can be scrutinized? how dare obama try to share a positive message today. how dare vick try to do the same tomorrow. what is this world coming to!!!
Kudos to those who were instrumental in the investigation and arrest. PLEASE keep up the good work!!! p.s. bobcat...that was a good one!! haw!
agreed! just like we don't need more Rite-Aids in Camp Hill!
i give up. what's an irreligion???
...and sending him back to prison does what????? BinLaden is still on the loose and we're concerned about a tatoo??? seriously....
soonrorlatr2...you advise folks to go out and get a lexus or a honda. how dare you! At this time it is more important than ever that we support our American car companies. Sending our money to Japan is not going to help anyone here. General Motors has one of the best customer satisfaction ratings of any car manufacturer (J.D. Power) and GM assembly plants can boast the best overall quality control and safety ratings. Maybe you need to study history again...remember WWII????


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The Daily GS650
Wow.. yeah, wow is all I can say when Kyle first sent me a photo of this Aristo owned by Zeb. Engine and exterior mods make this stick out like a sore thumb and get this… its driven daily. Who says you need a V8 swap when you can make things just as fast keeping it all JDM. Enough rambling, details below and photos by Kyle Mcmanus now…
Engine: 644 WHP / 594 TQ Daily driven and reliable.
Aristo 2JZGTE VVTI SWAP
Aristo 4-Speed Transmission
Aristo V300 Drive Shaft
Aristo V300 Differential with Cusco LSD
Precision GT40-67 Turbo
Precision 850CC Injectors
Precision 850 HP Front Mount Intercooler with Custom Aluminum Piping
Tial 44mm Waste Gate
Tial Blow Off Valve
HKS Exhaust Manifold
HKS DLI Ignition
HKS SCD (Speed Cut)
HKS Intake Temp Sensor
HKS Wide Band for self correction connected to the F-CON
ARP Head Studs
Toyota 2JZGTE Head Gasket
JDM Power Enterprise Timing Belt
Toyota Water Pump
Innovate Motorsports Wide Band
AEM Tru Boost Gauge/Controller
Modified clutches and purge valve in Transmission by RPM
RPM Dual Feed Fuel Rail
Dual Walbro 255LPH Fuel Pumps
Dash 10 AN fuel feed line
Dash 6 AN fuel return line
Aermotive Fuel Pressure Regulator
3″ Dual Catback Top Speed exhaust Bolt-ON with Custom Mid Pipe/down pipe
Dressupbolts.com Full Titanium Engine dress up (purple)
Seibon OEM Style CF Hood
JDM OEM Style CF Trunk
SSR SP3s 19×9.5 -3 / 19×10.5 -8 In Gold.
Falken 452 Tires
D2 Coilovers and airbags with Ridetech system
Upgraded Daizen Bushing in the front
New Bushings in the rear suspension including the Diff bushings.
Interior is under construction, for now its stock.
-D2 Front 8 Piston 356mm Kit NEW
-D2 Rear 4 Piston 330mm Kit NEW
21 Comments
Do want.
this car is really visually striking in person, saw it at IA Spring Meet 2011 last weekend. mad props to the owner.
Bad ass!!!!
Its even better in real life. Saw it at IA this past weekend!
Omgz 3 or my favorite things, the Gs/aristo, the 2jGte, and hellaflush stance! Omgz! Idk what else to saay
what is hellaflush stance??? haha just kidding, but seriously though… just call it Hellaflush
Is this in Raleigh/Cary, NC? This thing was cruisin right next to me the other night. Everything about this car rocks. Shot out to the owner!!
Looks amazing! Nice to see this car coming close to completion!
any engine bay pics..? car looks fuckin dope!!
Thank you guys for featuring my car, really means a lot. All this is because of my great friends and sponsors. More to come soon.
@Rell, yes I live in Cary, NC…what do you drive? I remember a maxima cruising next to me on Monday.
Yeah Zeb that was me. Your car is awesome!!!! It was nice running into you.
definitely refreshing to see a GS built like this once in a while.
[…] is fresh paint on it and new wheels with some sort of body kit on it, but its really looking good: http://fatlace.com/cars/hellaflush/the-daily-gs650/ __________________ 96 Black I30t A.K.A Big Black YES my car has more mods than yours. And NO its […]
Damn Zeb I cant wait to see this thing again. The color is soooo badass…
Oh MY, sick! Outside and !n, #NuffSaid
Just wanted to tell you how sick the car is bro ! i love every bit of it. Mad props to you for getting everything done. Body work is amazing and the wheels is just pure sickness ! Nuff Said
BUT………DOES IT PASS SMOG?? BAhahahahaha.
Yes it does pass emissions here in NC!
Such a long engine spec list and not one photo of the engine…
Here is the picture i could find of my engine bay!


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With pet-related legislation and regulations up more than 33 percent, it's been a busy legislative session for the Pet Industry Joint Advisory Council (PIJAC). PIJAC has tracked and addressed more than 1,700 pieces of legislation this session. Here is a small sample:
Animal Abuse Registries
Animal abuse registry legislation was introduced in 23 states this session. Two counties in New York introduced legislation regarding animal abuse registries. On Oct. 19, amendments were made to remove the misdemeanor clause for pet sellers that do not check the registry in Westchester County, N.Y. Erie County, N.Y., still has the provision in its bill. Also of note, following PIJAC's opposition to a Maryland bill that carried a misdemeanor offense and up to a $10,000 fine for pet sellers that knowingly sell a pet to an animal abuser, that bill died in committee.
Exotic/Dangerous Animal Legislation
The pet industry has seen an influx of "wild," "dangerous," or "exotic" animal legislation, particularly over the last year. Congress and 22 states have introduced a total of 47 bills in this area.
Legislation in Illinois, North Carolina, Pennsylvania, Virginia and Wisconsin is still pending. Measures in Indiana, Rhode Island and South Carolina died in committee when the sessions adjourned. West Virginia Senate Bill 477 included animals that are commonly kept as pets and was vetoed by Governor Earl Ray Tomblin. In Ohio, PIJAC worked closely with leaders to ensure that reptile owners could keep their pets and reptile businesses could continue operating. Additionally, PIJAC is taking part in a workgroup formed by the Virginia Department of Game and Inland Fisheries, in conjunction with the University of Virginia Institute for Environmental Negotiation, to identify issues and develop recommendations pertaining to public safety and potentially dangerous animals in Virginia.
Invasive Species
At the federal level, PIJAC has been actively involved in H.R. 511, which proposes to add nine large constrictors to the "injurious wildlife" list under the Lacey Act, including four species previously listed under the act. This bill would prohibit importation and interstate movement of these nine constrictors. PIJAC has worked with U.S. Fish and Wildlife Services (USFWS) at each stage of the listing process and has submitted comments arguing that there is no justification for a blanket listing under the Lacey Act.
Additionally, Congress introduced companion bills ostensibly designed to establish an improved regulatory process for injurious wildlife to prevent the introduction and establishment of potentially harmful nonnative wildlife and wild animal pathogens and parasites. These bills are modified versions of H.R. 669 from several years ago, which in essence banned all non-native species as injurious until each species was proven to be harmless. PIJAC has also been in discussions with the USFWS concerning the risk-screen assessments of 2,000 species, many of which are in the pet trade, to determine whether they are invasive or potentially invasive.
Retail Pet Sale Bans
California had the highest rate of introductions, with seven localities passing legislation banning the sale of dogs and cats in pet stores. San Francisco, Los Angeles and Burbank are still considering legislation. San Clemente is the only California locality to defeat the legislation.
Colorado, Florida, New Jersey and Ohio have localities that have passed bans. Governments in Missouri and Maine declined to pass legislation. Legislation is pending in New Mexico and Wisconsin. Suffolk County, N.Y., adopted a market-based rating system in lieu of a ban.
Warranty Laws
Maryland passed a warranty law to protect consumers when purchasing a dog from a pet store, while Connecticut (which also includes cats) amended its law to expand coverage. A bill in Michigan is in the Senate for a second reading. Measures in Hawaii died in committee upon adjournment.
Cathy Calliotte is vice president of marketing and communications for the Washington, D.C.–based Pet Industry Joint Advisory Council. PIJAC provides its members a voice in state and national legislative issues through advocacy and timely information regarding upcoming policy issues that affect the pet industry, pet owners and the animals they care for. For more information, visit www.pijac.org.
A Rising Tide
Published: December 1, 2012
The Pet Industry Joint Advisory Council has had its hands full dealing with more than 1,700 pieces of pet-related legislation over the past year.


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|6th Annual Oscarthon
Event Type: Film Screening
Date: 2/27/2014
Start Time: 10:00 AM
End Time: 6:00 PM
Our 6th Annual Oscar Day Marathon moves to the Maze Branch. Enjoy a day of Oscar nominated films plus popcorn, trivia, and prizes! What better way to prepare for Hollywood's big night? Join us for one film, or the whole slate.Library: Oak Park Public Library Maze Branch
10 am-Gravity (91 minutes)
11:45 am-Blue Jasmine (98 minutes)
1:30 pm-Dallas Buyers Club (117 minutes)
3:45 pm-Captain Phillips (134 minutes)
Location: Meeting Room - Maze Branch
Contact: Maze Branch Library
Contact Number: 708.386.4751
Presenter: Jessica B.


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Community Description
In Colts Run at Monroe, you will enjoy the relaxed atmosphere of suburban living with superior schools, excellent shopping, and a wide choice of cultural events close to home. The community offers award-winning home designs with 3-car garages and up to 7 bedrooms situated on the largest home sites in the area. Nestled in a charming setting, this intimate community is just minutes from any convenience you may need.
- Large home sites available (ranging from approximately 3/4 acre up to 6 acres) and homes with the most luxurious features from America's Luxury Home Builder.
- Easy commute to NYC via NJ Transit from the New Brunswick train station, only 25 minutes away.
- Located 10 minutes from the NJ Turnpike and Routes 130 and 33; convenient to several business centers.
- One-stop shopping is nearby at the Concordia Shopping Center, or the Freehold Raceway Mall is only 20 minutes away.
- No Homeowners Association fees.
Community Sales Representative
Teresa Minnick
Phone: 609-448-0088
Community Details
Priced From: Low $900,000s
Sales Hours: Daily 11 am to 6 pm
3 Belmont Court
Monroe Township, NJ 08831
County: Middlesex
School District: Monroe Township
Home Type: Single Family
Community Type: Luxury Home
GPS Coordinates: 40.2839, -74.4555
Ready to get started?Click here for our Qualification Questionnaire
Financing InformationAre you ready to find out how to make your dream home a reality? Contact Amy Freund and Scott Bloemker from TBI Mortgage, who can answer all your financing questions.Contact TBI Mortgage
Visit TBIMortgage.com to learn more about our financing programs.


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Kevin Barnes and his band of Montreal have finished recording their 12th studio album titled Lousy with Sylvianbriar, which will be out sometime this fall. According to a post on the band's Tumblr, the title was inspired by Sylvia Plath and the album has a real Gram Parsons/Grateful Dead/Neil Young feel to it this time around. Strange maybe, but longtime of Montreal fans should be familiar with Barnes' propensity to flip the script on the band's sound. Read his statement about about the record below (via Exclaim):
I'm so happy to say that we've just finished a new album! It is titled "lousy with sylvianbriar". We recorded it in my home studio on a 24 track tape machine. It is pretty different from Paralytic Stalks. Definitely more G Parsons than K Penderecki this time around. I wrote most of the songs while on a self imposed isolation experiment in San Francisco earlier this year, and we recorded it, over a two week period, about a month after i got back to Athens. I was influenced by the poetry of Sylvia Plath (hence the reference in the title), plus artists like the Grateful Dead, Neil Young, Flying Burrito Brothers…I can't wait to share it with you! It won't come out until the Fall though so I just have to be patient.
Barnes also spoke about his time in San Francisco and production techniques with the Miami New Times earlier this week, saying, "It was very collaborative. We were all in the room together. We made it all on my tape machine in my home studio, so that was definitely different and special."
We'll let you know more information about the album as it becomes available.
Meanwhile, of Montreal kick off their latest U.S. tour next week.
of Montreal 2013 Tour Dates:
05/03 – Miami, FL @ Grand Central *
05/04 – Orlando, FL @ The Social *
05/05 – Baton Rouge, LA @ Varsity Theater *
05/06 – Austin, TX @ Mohawk *
05/08 – Phoenix, AZ @ Crescent Ballroom *^
05/09 – Los Angeles, CA @ Echoplex *
05/10 – San Francisco, CA @ Slim's *
05/11 – Portland, OR @ Wonder Ballroom *
05/12 – Seattle, WA @ Vera Project *
05/15 – Minneapolis, MN @ Cedar Cultural Center *
05/16 – Milwaukee, WI @ Pabst Theatre *
05/17 – Chicago, IL @ Lincoln Hall *
05/18 – Covington, KY @ The Madison Theater *
05/19 – Pontiac, MI @ Crofoot Ballroom *
05/20 – Buffalo, NY @ Town Ballroom *
05/21 – Boston, MA @ Paradise *
05/22 – Brooklyn, NY @ Music Hall of Williamsburg *
05/24 – Greensboro, NC @ Blind Tiger *
05/25 – Frederick, MD @ Flying Dog Brewery
05/28 – Honolulu, HI @ Republik #
06/01 – Nagano, JP @ Taico Club Festival
* = w/ Wild Moccasins
^ = w/ Turquoise Jeep
# = w/ Clones of the Queen & Sing the Body


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Special offer!
Index www.islamicbankusa.com
• Understanding
Islamic Banking
• First
islamic bank in Italy to open in 2008
• Bankers
out of 30 countries discuss models islamic banking
• Islamic
Finance on the Upswing
• Islamic
Banking and Social Responsibility
• What
is Islamic Finance?
• Islamic
Economics: The Total Revolution
• Basic
guide to contemporary Islamic Banking and Finance (PDF)
• Malaysia
to allow all banks to conduct Islamic banking in foreign currencies
• Islamic
Finance and faith as commodity
• Islamic
Finance hurdles in bid to boost West exposure
Investing as pleases God
NYT: Islamic Finance and Its Critics
What is islamic banking?
• Islamic
banking courses
• Video
Islamic Finance: Applying religion to economics
• Wat
is takaful?
• About
islamic banking
• Islamic
Financing - Basics & overview
Islamic Finance - Broaden your horizons
DIFC focus on Islamic finance
Islamic finance will be the
focus of a full-day event at DIFC week in November.
Gulf Daily News, 28 september 2007
The event, to be held in association with
The Wall Street Journal from November 17 to 23,
will be entitled "Islamic and Ethical Finance".
It marks the first collaboration of its kind between Dubai
International Financial Centre (DIFC) and the business publication.
"Islamic banking has contributed to economic development
in many Muslim countries," DIFC Authority chief executive
Nasser Al Shaali said.
"There have also been substantial benefits to institutions,
investors, companies and economies that are not necessarily
a part of the Muslim world."
is Islamic Finance?
From: Business Report, Nick
07 september 2007
The rules governing Islamic finance are laid
out under sharia - Islamic law - as revealed in the Koran.
A sharia compliant product meets the requirements
of this Islamic law and a sharia board (a committee of Islamic
scholars) is consulted by any financial institution looking
for guidance and supervision in the development of sharia
compliant products. It will then issue a fatwa (a legal pronouncement)
in support of the deal.
Ironically, it is the scarcity of Islamic
scholars with detailed financial understanding that remains
one of the potential roadblocks in the development of the
In addition, the differing interpretations of Islam in various
parts of the world mean that, for example, a Malaysian Sukuk
may not be acceptable to Saudi investors.
"Pure" Islamic banking appears to
be similar to venture capital finance, non-recourse project
finance or ordinary equity investment. The investor takes
a share in the profits, if any, of the venture and is liable
to lose his capital. It involves investing but not lending.
There are counterparts in almost all forms of Islamic banking
in Western banking.
"It's just another form of structured
finance," explains Jawad Ali, a partner at King &
Spalding law firm.
Trading in indebtedness is prohibited, so
the issuance of conventional bonds would not be compliant.
Thus all sukuk (Islamic bonds) returns and cash flow will
be linked to assets purchased or those generated from an asset
once constructed, and not simply be income that is interest
To summarise, compliant investments must be:
• Interest free
• Trade-related and with a perceived
"genuine" need for the fund in its purest form,
so it is therefore equity-related. It is meant to avoid exploitation,
with no usury
• Ethically directed: certain areas
are "halal" ( permitted), and others "haram"
It is estimated that 85 percent of Islamic
banking as practised involves some form of predetermination
of profit or mark-up that, while acceptable to individual
Islamic authorities, would now be regarded as interest by
most fiscal authorities. - Nick Ryan, featurenet.co.za
Economics: The Total Revolution
From: The American Muslim TAM,
Dr. Robert D. Crane
23 august 2007
I. The Economics of Tawhid
In a revolutionary age, half-assed revolutions accomplish
nothing and merely bring on more injustice by failing to solve
the real problems.
For decades, Muslim economists have focused
on the micro-problems of usury, but failed to address the
larger problem of the wealth gap. The charging of interest
on loans is indeed a contributing factor, but a minor one.
So-called Islamic banks have been established and expanded
their assets into the many billions of dollars by conning
individual Muslims into "investing" their money
in them as a requirement of their din. In fact, these banks,
and especially the Islamic banking arms of the big multi-nationals,
are fraudulent as means to promote economic justice because
they have deliberately and assiduously joined the global banking
system, with all of its institutional defects, in order to
fit in.
In Islam, everything is interconnected in
accordance with the overarching paradigm of tawhid. This coherence
of unity in diversity, which reflects the Oneness of the Creator,
is manifested in the form of what the great jurisprudents
of Islam have called the universal principles of justice.
These are known as the maqasid al shari'ah.
The most controversial of these in both modern
Muslim ideology and secular Western thought is haqq al mal.
The core meaning and principle of this universal principle
of economic justice is respect for the sacredness of private
property in the means of production and for the univeral right
of every person to capital ownership. This is disputed because
in secular thought nothing is sacred. All the parts of creation
are disposable because there is no concept of tawhid to give
II. The Two Principles of Economic
The principles of economic justice are discussed in Chapter
Seven, entitled "Human Rights in Islam from the Economic
Perspective," in the early draft of Volume One on the
Islamic Perspective published for feedback in June, 2007,
in www.theamericanmuslim.org as part of a nine-part series
under the title, The Natural Law of Compassionate Justice:
Source of Convergence Between Science and Religion. read
to allow all banks to conduct Islamic banking in foreign currencies
From: AFX News, 14 august 2007
KUALA LUMPUR - Malaysia will ease its rules
to allow all banks to conduct Islamic banking business in
foreign currencies, the central bank said Tuesday.
Non-Islamic commercial banks and investment banks licensed
by the government will now be allowed to do Islamic banking
business as the country aims to position itself as a global
hub for the sector, Bank Negara governor Zeti Akhtar Aziz
said in a statement.
"We want and aim to develop Malaysia
into a centre for the origination, distribution and trading
of sukuks (Islamic bonds) to provide further impetus to the
development of an increasingly vibrant and progressive bond
market in Malaysia as well as in the Asian region," Zeti
However, according to Islamic finance strict
rules, interest payments and profits earned from alcohol,
pornography, pork or gambling are still banned.
Malaysia has the world's largest Islamic bond market, accounting
for about 47 billion US dollars or two-thirds of the total
Islamic bonds outstanding worldwide.
Malaysia's Islamic finance industry is worth
38 billion dollars in assets ranging from stocks and insurance
to home loans and pawn-broking. Islamic banking assets also
make up over 12 percent of total bank assets, the central
bank said.
finance and faith as commodity
From: The Brunei Times, Mahmood
Sanglay, 14 august 2007
Certain thoughts and practices are almost
immediately repugnant. One of them is them is making commerce
out of faith. In other words, to sacrifice spiritual values
in favour of worldly gain is almost universally acknowledged
as a crime against God and against the self.
The rich language and imagery of the Qur'an
on this theme relates to a total of 21 uses of the verb shara
_ in the forms yashri, ishtara and yashtari _ meaning to buy,
sell, purchase or barter. There are references to wrongdoers
selling guidance to buy error (2:16), the hereafter to buy
the present life (2:86) and faith to buy unbelief (3:177).
There are references to the selling, buying and bartering
of souls (2:90), magic (2:102) and the Covenant of God (3:77
and 187).
The classic example in the Quran is the selling
of the signs of God, of His Covenant, of one's oaths and the
truth for a miserable price _ thamanan qaleela_ which occurs
in a further 11 instances in the text. This is perhaps best
exemplified by the following verse in 2:174: "Those who
conceal God's revelations in the Book, and purchase for themselves
a miserable profit".
According to Ibn Kathir, this verse refers to the Jews who
concealed the truth about the Prophet Muhammad (upon him peace)
in their own scriptures so that they may retain their social
superiority over the Arabs. They feared that, had they revealed
the truth, their people would have abandoned them and joined
the Muslims instead. In this case they sold the eternal truth
of the Prophet's mission for the miserable price of social
position and power.
All these are clear instances of unethical,
immoral and unlawful gain in worldly benefit at the expense
of spiritual benefit. And it is in the emphasis achieved through
repetition (in a total of 30 references) in the Qur'an that
an impression may be created that the image of buying, selling
and bartering is antithetical to spiritual growth.
Not so. The most compelling references to
business in the Qur'an is derived from the verb tijarah, meaning
commerce, merchandise, trading or trade. We are admonished
to commit agreements to writing (2:282), to trade in a spirit
of mutual good will (4:29), to love God more and to favour
Him above our devotion to business and our possessions (9:24,
61:10 and 62:11).
There are two further uses of the verb shara
_ in the forms yashri and ishtara _ which dispels this notion.
Firstly, in 2:207 there is a lesser-known reference to the
type of man who sells himself seeking the pleasure of God.
However, Ibn Kathir explains that the verse refers to Suhayb
bin Sinan al-Rumi who forfeited his property in order to migrate
from Makkah to Madinah and join the Muslims in exile. This
was described as a successful trade by the Companions and
the Prophet, upon him peace.
Secondly, in 9:111 there is the better-known
reference: "God purchased of the believers their persons
and their goods in exchange for paradise". The more detailed
product description in this instance follows in the same verse:
Dying in God's cause. And the contractual obligation of God
is recorded in the Torah, Injil and Quran. Our obligation
is also recorded in covenants in the scriptures. An example
occurs in 7:172-3 in which our recognition of God's Lordship
even before creation is recorded.
This is a unique transaction. There is no
offer to purchase and the transaction is irrevocable. The
contractual obligations have already been agreed upon by both
parties, but only God's performance in the contract is guaranteed.
God affirms His integrity in the deal by asking the rhetorical
question: "Who is truer to his covenant than God?"
Hasan al-Basri and Qatadah comment that the value of our selves
and our wealth immediately appreciates by undertaking this
transaction. This, presumably, is because the credibility
of the buyer is absolute and unquestionable. When you do business
with a reputable person whose performance in the contractual
obligations can be guaranteed, the deal is immediately attractive.
This, in turn, begs the question: how true are we in fulfilling
our obligation in the deal? Are we as credible as God? Is
our word as good as His Word? Again, rhetorical questions,
of course.
So what is the point of all this? It is not
about the lawfulness of trade and the acceptability of the
language of commerce in Islam. It is about the unwritten and
commonly (mis)understood ethics of business in the spiritual
space of humans. This brings us back to the matter of faith
and commerce or, the commodification of faith.
Islamic banking and finance is arguably the
leader in institutionalising the commodification of faith.
These institutions hold assets of approximately US$ 250 billion
($380 billion) globally and almost 25 per cent of Islamic
financial institutions now operate in countries that do not
have Muslim majorities. In 2004 the United States Treasury
appointed its first dedicated Islamic financial advisor and
in 1999 the New York-based Dow Jones Islamic market index
was launched. The Islamic banking sector is expanding at around
15 per cent per year.
Lest the crudities of the global trend escape
us, let's look at the Islamic banking and finance phenomenon.
This discourse is largely about capital investment, growth
and profit. Enrichment about the self and the collectivity
looms dominant. There is little about responsible financial
management, poverty eradication and investment with a political
Then there is the debasement of the term "Syariah-compliant"
which has now been corrupted into a cliché. Similarly,
and quite ironically, "halaal" and "ethical"
are bandied about as a means to apply salve to the conscience
of wealthy investors who care too little about Quranic principles
of responsible wealth management and too much about the bottom
The social responsibility profile of any business
is a marketable commodity. It's a wonderful badge to wear
in front of cameras and on sundry platforms. Unfortunately,
it is grossly inconsistent with the ethic of giving with the
right hand so that the left hand does not know. Images of
Muslims at prayer and dictums from Hadith and Quran are used
in Hajj season advertising and marketing campaigns with the
ostensible intent of commending piety while the true _ and
thinly veiled _ intent may be insincere or indifferent to
the spiritual state of the client.
The Muslim business that makes no claim of
serving a cause greater than self-serving monetary gain has
a minimum responsibility of acquiring wealth in a lawful way.
However, the business that makes a claim to serving a more
noble need in society has a responsibility to act lawfully
as well as ethically in terms of its claims. If the responsibility
is to serve the interests of the community irrespective of
social class distinctions, then it is unethical for that business
to serve the exclusive interests of the wealthy, especially
when the business _ in a society with typical socio-economic
disparities _ is surrounded by the poor as well as the wealthy.
The author is Cape Town a media activist.
finance hurdles in bid to boost West exposure – IMF
From: Gulf-Times, Santhosh V
Perumal, 13 august 2007
Islamic banking is expected to increasingly
foray into the West but this could be hampered by the lack
of hedging tools and the necessary integration with the rest
of the financial stream, says an International Monetary Fund
(IMF) paper.
" Islamic banking has been making headway
into an increasing number of Western countries. This is a
trend that is likely to carry on, as oil exporting nations
continue to accumulate wealth, GCC and Southeast Asian Islamic
financial markets develop further and companies in Western
nations keep competing to attract international investors,"
said the IMF Working Paper.
There are currently more than 300 Islamic
financial institutions spread across 51 countries, apart from
250 mutual funds that comply with Islamic principles. Over
the last decade, the (Islamic financing) industry has experienced
growth rates of 10-15%, a trend that is likely to continue,
according to the paper, authored by Juan Sole. Despite the
rapid growth of Islamic finance in the last few years, many
supervisory authorities and practitioners were 'unfamiliar'
with the process by which Islamic banks were introduced into
a conventional system, it said.
Terming Islamic finance as 'uncharted territory'
for most policy-makers and practitioners, the IMF paper said
the current trend hinted that the sector would continue to
increase its penetration and hence, policymakers and practitioners
needed to become acquainted with the process and its implications
for financial supervision.
As Islamic financing expands, the supervisory
authorities would have to ensure that these new institutions
become fully integrated with the rest of the financial system,
it said. "The integration process will not only allow
Islamic institutions to operate, but also provide a comprehensive
regulatory framework as well as develop a supportive financial
infrastructure," it said.
Observing that Islamic financing lacked hedging
instruments, the IMF paper said it resulted in the concentration
of risks in a smaller number of institutions. "Overseeing
the risks concentration and its potential impact on Islamic
financial institutions should become a daily task for the
regulatory authorities," it added.
Apprehending that financial products that
were permissible in some countries could be deemed as non-Islamic
in others, the paper said such disparity would discourage
the cross-border use of Islamic products and constrain its
growth potential, which could also "result in pernicious
regulatory arbitrage".
In those jurisdictions where Islamic finance
was still nascent, the regulators and financial institutions
should familiarise with the standards set by the Accounting
and Auditing Organisation for Islamic Financial Institutions
(AAOIFI) and 'apply them to the maximum extent possible',
it said.
One of the main goals of the AAOIFI is to design and disseminate
accounting and auditing standards that can be applied internationally
by all Islamic institutions, it said, adding AAOIFI also played
a crucial role in pursuing the harmonisation of Shariah-based
rulings across jurisdictions.
Furthermore, the pursuit of international
consistency would not only ease the task of supervising internationally
active institutions, but also ultimately favour the regulated
institutions, as Islamic transactions will be better understood,
becoming more attractive for Muslim and non-Muslim investors
across the world, the study said.
It would additionally foster the integration
of Islamic institutions into the international community,
the IMF paper added.
as pleases God
From: Yemen Times, august 2007
Financial transactions in accordance with
Islamic law are gaining ground. Klaus Hachmeier discusses
"riba" prohibition, "murabaha" transactions
and other principles of Islamic banking
Islamic banking is particularly dynamic today
in the Gulf States and in Malaysia, where Islamic and "conventional"
banks compete freely The term "Islamic finance"
has come to stand for a comprehensive system of business transactions
in keeping with Islamic law. Closely related and encountered
almost as frequently is the expression "Islamic banking,"
revealing the central role played by banks in this field.
Of course, it is difficult to construct a
complete economic system from Islamic sources alone –
even if these include not only the Koran but also the traditions
passed down by the early Islamic community surrounding the
Prophet Mohammed.
A kind of "social free market
But at least certain principles crystallize out that suggest
a kind of "social free market economy" as the most
appropriate one for Islam. While this economy recognizes that
profits can be made and prosperity achieved through commercial
dealings (economically speaking, this means that people have
a right to private property and that prices can develop freely
according to supply and demand), there is also an emphasis
on social duties, such as donating money to help the poor
and the needy.
Examples of Koran verses cited as reference
are: "When the call is proclaimed to prayer on Friday
(the Day of Assembly), hasten earnestly to the Remembrance
of Allah, and leave off business (and traffic)! ... And when
the Prayer is finished, then may ye disperse through the land,
and seek of the Bounty of Allah: and celebrate the Praises
of Allah often (and without stint): that ye may prosper."
(Koran 62: 9-10)
"O ye who believe! Give of the good things
which ye have (honorably) earned, and of the fruits of the
earth which We have produced for you! And do not even aim
at getting anything which is bad, in order that out of it
ye may give away something, when ye yourselves would not receive
it except with closed eyes!" (Koran 2:267).
Western (as well as Muslim) scholars of Islam
point to the historical background behind the revelations
in the Koran, arising as they did in the city of Mecca with
its flourishing trade. According to conservative Islam, the
Koran is the genuine word of God, which retains its validity
irrespective of spatial and temporal limitations.
In addition to the above, there also exist
a few more tangible restrictions with respect to commerce.
The first is the general prohibition of gambling, which is
derived from the Koran's ban on "maisir," a game
in which arrows are used to determine who gets the best pieces
of a slaughtered camel.
Speculation forbidden
A ban on speculative business ("gharar") can also
be deduced from Islamic sources, which some believe is applicable
to short-term speculators who try to make the most of temporary
fluctuations in exchange rates.
The most far-reaching restriction that can
be derived from the Islamic body of rules is without doubt
the prohibition of "riba," which is often, and not
entirely correctly, interpreted as a general ban on interest.
This word of controversial origin is used in the Koran in
connection with moneylenders who demand excessive interest
and can be translated as "usury."
Today, the proscription is interpreted as
meaning that no interest at all may be charged on credits
that are granted. Interest-like structures are permitted for
sales transactions, however: if someone defers payment on
a purchase, for example, the Islamic jurists recognize that
a surcharge on the price may be demanded for the delay.
Inspired by German cooperative banks
In the mid-20th century, the first forerunners of today's
"Islamic banking" began to appear on the scene.
In 1963, for example, Dr. Ahmad al-Najjar of Egypt, inspired
by West German cooperative banks, founded a bank in the Nile
Delta that managed to make do without charging any interest
whatsoever, investing the customers' money in equity models
or in its own business activities.
The experiment ended just a few years later
under ominous circumstances, most probably financing problems.
The Islamic republics of Sudan, Pakistan and Iran have arranged
large portions of their state systems – including the
banks – in accordance with Islamic rules.
The strongest dynamic in this field comes
today from the Gulf States as well as Malaysia, where Islamic
and "conventional" banks compete shoulder-to-shoulder,
the former already managing to conquer a market share of up
to 20 percent, with a rapid upward trend.
Increasingly, Western banking institutions
are starting to offer their own Islamic products from special
departments: for example, business loans tailored to Islamic
Criticisms have been voiced that Islamic products
often merely imitate conventional ones and, other than in
name, do not offer any specifically Islamic characteristics.
This goes especially for products that copy interest-like
© Yemen Times - www.yementimes.com
Mortgage as "murabaha" transaction
A real estate credit is for example replicated by the "murabaha"
transaction, in which the bank often purchases the property
for the space of one second only and then sells it to the
end customer on an installment plan. The installments are
calculated to include the interest that would be charged on
a classic mortgage.
Critics demand that such credit-like structures
be limited or done away with entirely; only interest-free
credit should be offered, or investments with full participation
in profits and losses ("mudaraba"). However, the
fact is that the average household often needs to borrow money
to finance big-ticket purchases (house, car, stereo system)
since such items cannot be paid for with the available cash
on hand.
As long as these purchases are designated
only for a consumer's own use, "mudaraba" does not
apply, since no profit is being made. The success of "Islamic
finance" will depend on whether Islamic product alternatives
are created that offer not only conformity with Islamic law
(which, just like in other legal systems, can be applied more
or less flexibly) but also answer the needs of the broader
Islamic population.
Finance and its Critics
From: New York Times, 09.08.2007
GENEVA — Before the attacks of Sept.
11, Prince Muhammad al-Faisal al-Saud felt welcome in America.
A member of the Saudi royal family and a pioneer of Islamic
finance, he was a pillar of a Saudi business establishment
that has long relished its ties with the United States.
Since then he has kept his distance. The company
he founded in 1981, Dar al-Maal al-Islami Trust — a
Bahamas-incorporated holding company with a portfolio of Islamic
banks in Bahrain, Niger, Egypt and Pakistan — is a defendant
in a consolidated $1 trillion lawsuit brought by the families
of those who died on Sept. 11, and his lawyers have advised
him not to set foot in the United States as the case winds
its sluggish way through federal court in Lower Manhattan.
Though the prince was originally named in
the case, the lawsuits against him were dismissed in 2005.
The prince is less well known — he shuns publicity —
than two of his brothers, Prince Saud al-Faisal, the Saudi
foreign minister, and Prince Turki al-Faisal, the former Saudi
ambassador to the United States. But as chairman of DMI, he
is the public face of the sprawling financial conglomerate,
which has been accused of aiding terrorism. More than that,
the prince and by extension DMI represent vividly the discordant
views that have surrounded Islam and money since Sept. 11.
more on New York Times
is islamic banking?
From: Institute of islamic banking
and insurance
Islamic banks appeared on the world scene
as active players over two decades ago. But "many of
the principles upon which Islamic banking is based have been
commonly accepted all over the world, for centuries rather
than decades".
The basic principle of Islamic banking is
the prohibition of Riba- (Usury - or interest):
"While a basic tenant of Islamic banking - the outlawing
of riba, a term that encompasses not only the concept of usury,
but also that of interest - has seldom been recognised as
applicable beyond the Islamic world, many of its guiding principles
have. The majority of these principles are based on simple
morality and common sense, which form the bases of many religions,
including Islam.
"The universal nature of these principles
is immediately apparent even at a cursory glance of non-Muslim
literature. Usury was prohibited in both the Old and New Testaments
of the Bible, while Shakespeare and many other writers, particularly
those writing in the 19th century, have attacked the barbarity
of the practice. Much of the morality championed by Victorian
writers such as Dickens - ranging from the equitable distribution
of wealth through to man's fundamental right to work - is
clearly present in modern Islamic society.
"Although the western
media frequently suggest that Islamic banking in its present
form is a recent phenomenon, in fact, the basic practices
and principles date back to the early part of the seventh
century." (Islamic Finance: A Euromoney Publication,
It is evident that Islamic finance was practiced
predominantly in the Muslim world throughout the Middle Ages,
fostering trade and business activities. In Spain and the
Mediterranean and Baltic States, Islamic merchants became
indispensable middlemen for trading activities. It is claimed
that many concepts, techniques, and instruments of Islamic
finance were later adopted by European financiers and businessmen.
The revival of Islamic banking coincided with
the world-wide celebration of the advent of the 15th Century
of Islamic calendar (Hijra) in 1976. At the same time financial
resources of Muslims particularly those of the oil producing
countries, received a boost due to rationalization of the
oil prices, which had hitherto been under the control of foreign
oil Corporations. These events led Muslims' to strive to model
their lives in accordance with the ethics and philosophy of
Disenchantment with the
value neutral capitalist and socialist financial systems led
not only Muslims but also others to look for ethical values
in their financial dealings and in the West some financial
organisations have opted for ethical operations.
Islam not only prohibits dealing in interest
but also in liquor, pork, gambling, pornography and anything
else, which the Shariah (Islamic Law) deems Haram (unlawful).
Islamic banking is an instrument for the development of an
Islamic economic order. Some of the salient features of this
order may be summed up as:
While permitting the individual the right
to seek his economic well-being, Islam makes a clear distinction
between what is Halal (lawful) and what is haram (forbidden)
in pursuit of such economic activity. In broad terms, Islam
forbids all forms of economic activity, which are morally
or socially injurious.
While acknowledging the individual's right to ownership of
wealth legitimately acquired, Islam makes it obligatory on
the individual to spend his wealth judiciously and not to
hoard it, keep it idle or to squander it.
While allowing an individual to retain any surplus wealth,
Islam seeks to reduce the margin of the surplus for the well-being
of the community as a whole, in particular the destitute and
deprived sections of society by participation in the process
of Zakat.
While making allowance for the ways of human
nature and yet not yielding to the consequences of its worst
propensities, Islam seeks to prevent the accumulation of wealth
in a few hands to the detriment of society as a whole, by
its laws of inheritance.
Viewed as a whole, the economic system envisaged
by Islam aims at social justice without inhibiting individual
enterprise beyond the point where it becomes not only collectively
injurious but also individually self-destructive.
The Islamic financial system employs the concept of participation
in the enterprise, utilizing the funds at risk on a profit-and-
loss-sharing basis. This by no means implies that investments
with financial institutions are necessarily speculative. This
can be excluded by careful investment policy, diversification
of risk and prudent management by Islamic financial institutions.
It is possible, that investment in Islamic
financial institutions can provide potential profit in proportion
to the risk assumed to satisfy the differing demands of participants
in the contemporary environment and within the guidelines
of the Shariah.
The concept of profit-and-loss sharing, as
a basis of financial transactions is a progressive one as
it distinguishes good performance from the bad and the mediocre.
This concept therefore encourages better resource management.
Islamic banks are structured to retain a clearly differentiated
status between shareholders' capital and clients' deposits
in order to ensure correct profit-sharing according to Islamic
World Video
Islamic Finance: Applying religion to economics
Takaful is an Islamic insurance
concept which is grounded in Islamic muamalat (banking transactions),
observing the rules and regulations of Islamic law. This concept
has been practised in various forms for over 1400 years. It
originates from Arabic word Kafalah, which means "guaranteeing
each other" or "joint guarantee". In principle,
the Takaful system is based on mutual co-operation, responsibility,
assurance, protection and assistance between groups of participants.
It is a form of mutual insurance. read
more »
Banking, by A. L. M. Abdul Gafoor
From the book: Interest-free Commercial Banking, 1995.
Modern banking system was introduced into the Muslim countries
at a time when they were politically and economically at a
low ebb, in the late 19th century. The main banks in the home
countries of the imperial powers established local branches
in the capitals of the subject countries and they catered
mainly to the import export requirements of the foreign businesses.
The banks were generally confined to the capital cities and
the local population remained largely untouched by the banking
The local trading community avoided the "foreign"
banks both for nationalistic as well as religious reasons.
However, as time went on it became difficult to engage in
trade and other activities without making use of commercial
banks. Even then many confined their involvement to transaction
activities such as current accounts and money transfers. Borrowing
from the banks and depositing their savings with the bank
were strictly avoided in order to keep away from dealing in
interest which is prohibited by religion.1
With the passage of time, however, and other
socio-economic forces demanding more involvement in national
economic and financial activities, avoiding the interaction
with the banks became impossible. Local banks were established
on the same lines as the interest-based foreign banks for
want of another system and they began to expand within the
country bringing the banking system to more local people.
As countries became independent the need to
engage in banking activities became unavoidable and urgent.
Governments, businesses and individuals began to transact
business with the banks, with or without liking it. This state
of affairs drew the attention and concern of Muslim intellectuals.
The story of interest-free or Islamic banking begins here.
In the following paragraphs we will trace this story to date
and examine how far and how su cessfully their concerns have
been addressed.
Historical development
It seems that the history of interest-free banking could be
divided into two parts. First, when it still remained an idea;
second, when it became a reality -- by private initiative
in some countries and by law in others. We will discuss the
two periods separately. The last decade has seen a marked
decline in the establishment of new Islamic banks and the
established banks seem to have failed to live up to the expectations.
The literature of the period begins with evaluations and ends
with attempts at finding ways and means of correcting and
overcoming the problems encouutered by the existing banks.
Interest-free banking as an idea
Interest-free banking seems to be of very recent origin. The
earliest references to the reorganisation of banking on the
basis of profit sharing rather than interest are found in
Anwar Qureshi (1946), Naiem Siddiqi (1948) and Mahmud Ahmad
(1952) in the late forties, followed by a more elaborate exposition
by Mawdudi in 1950 (1961).2 Muhammad Hamidullah's 1944,
1955, 1957 and 1962 writings too should be included in this
category. They have all recognised the need for commercial
banks and the evil of interest in that enterprise, and have
proposed a banking system based on the concept of Mudarabha
- profit and loss sharing.
In the next two decades interest-free banking
attracted more attention, partly because of the political
interest it created in Pakistan and partly because of the
emergence of young Muslim economists. Works specifically devoted
to this subject began to appear in this period. The first
such work is that of Muhammad Uzair (1955). Another set of
works emerged in the late sixties and early seventies. Abdullah
al-Araby (1967), Nejatullah Siddiqi (1961, 1969), al-Najjar
(1971) and Baqir al-Sadr (1961, 1974) were the main contributors.
Early seventies saw the institutional involvement.
Conference of the Finance Ministers of the Islamic Countries
held in Karachi in 1970, the Egyptian study in 1972, First
International Conference on Islamic Economics in Mecca in
1976, International Economic Conference in London in 1977
were the result of such involvement. The involvement of institutions
and governments led to the application of theory to practice
and resulted in the establishment of the first interest-free
banks. The Islamic Development Bank, an inter-governmental
bank established in 1975, was born of this process.
The coming into being of interest-free
The first private interest-free bank, the Dubai Islamic Bank,
was also set up in 1975 by a group of Muslim businessmen from
several countries. Two more private banks were founded in
1977 under the name of Faisal Islamic Bank in Egypt and the
Sudan. In the same year the Kuwaiti government set up the
Kuwait Finance House.
However, small scale limited scope interest-free
banks have been tried before. One in Malaysia in the mid-forties4
and another in Pakistan in the late-fifties.5 Neither survived.
In 1962 the Malaysian government set up the "Pilgrim's
Management Fund" to help prospective pilgrims to save
and profit.6 The savings bank established in 1963 at Mit-Ghamr
in Egypt was very popular and prospered initially and then
closed down for various reasons.7 However this experiment
led to the creation of the Nasser Social Bank in 1972. Though
the bank is still active, its objectives are more social than
commercial.8, 9
In the ten years since the establishment of
the first private commercial bank in Dubai, more than 50 interest-free
banks have come into being. Though nearly all of them are
in Muslim countries, there are some in Western Europe as well:
in Denmark, Luxembourg , Switzerland and the UK. Many banks
were established in 1983 (11) and 1984 (13). The numbers have
declined considerably in the following years.10
In most countries the establishment of interest-free
banking had been by private initiative and were confined to
that bank. In Iran and Pakistan, however, it was by government
initiative and covered all banks in the country. The governments
in both these countries took steps in 1981 to introduce interest-free
banking. In Pakistan, effective 1 January 1981 all domestic
commercial banks were permitted to accept deposits on the
basis of profit-and-loss sharing (PLS).
New steps were introduced on 1 January 1985
to formally transform the banking system over the next six
months to one based on no interest. From 1 July 1985 no banks
could accept any interest bearing deposits, and all existing
deposits became subject to PLS rules. Yet some operations
were still allowed to continue on the old basis. In Iran,
certain administrative steps were taken in February 1981 to
eliminate interest from banking operations.
Interest on all assets was replaced by a
4 percent maximum service charge and by a 4 to 8 percent 'profit'
rate depending on the type of economic activity. Interest
on deposits was also converted into a 'guaranteed minimum
profit.' In August 1983 the Usury-free Banking Law was
introduced and a fourteen-month change over period began in
January 1984. The whole system was converted to an interest-free
one in March 1985.
The last decade
The subject matter of writings and conferences in the eighties
have changed from the concepts and possibilities of interest-free
banking to the evaluation of their performance and their impact
on the rest of the economy and the world. read
more about islamic banking »
• Islamic Banking,
Common questions on Interest
Q: Is there a difference of opinion
on interest in general? In other words, can a Muslim
believe that interest in general is permissible and
still be a Muslim?


text:
Live on Caller.com: What's happening Monday
Keep up with what the newsroom is covering Monday
COASTAL BEND - It would be a busy day in the courtroom on Monday.
While a number of jury panels will be selected elsewhere, the murder trial of Jose Angel Macias Jr. is expected to begin final arguments.
Macias is accused of shooting Casimiro Adan Guerra III, of Kingsville, in the chest Nov. 18 during an argument outside the Stripes in the 6000 block of Ayers Street.
Guerra, 21, was shot in the heart and died in the back seat of the vehicle as friends rushed him to an area hospital, according to prosecutors.
About 2 p.m. Friday 214th State District Judge Jose Longoria sent the jury home for the weekend while attorneys worked on the jury charge.
There have been four days of testimony since jury selection started a week ago.
Witnesses in the vehicle with Guerra when he was shot originally told police that night that the shooting was related to a carjacking. The following day they gave another statement that detailed the events of a drug deal.
Macias is being held at the Nueces County Jail on suspicion of murder. His bail is set at $200,000. If convicted he faces as much as life in prison and a $10,000 fine.
Also, the three teens accused of kidnapping and raping an 11-year-old girl will be in Nueces County court for a status hearing.
Other stories we will be reporting on Monday:
– Corpus Christi ISD trustees are scheduled to hear information about potential high school boundaries if the district keeps five high schools or considers the new Southside high school a sixth high school. The meeting is scheduled for this afternoon.
– Nationally, it could be another day of wild weather after tornadoes ripped through parts of the midwest Sunday, more storms capable of producing tornadoes return Monday.
– We'll have live events as they happen. Follow Corpus Christi area police, fire and medics with our scanner. Or just follow along below:
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