Saturday, 7 January 2023

Dangerous UK bank deregulation and how to rescue your money

UK banking sector has been unleashed from thebregulations and critics say this may bring a worse financial crisis that 2008 when it had some regulations to follow. 

This report by Islamic Finance Guru  says our money is not safe in the banks. The suggest to invest it in property (such as investing with Aftab Ali Properties LTD (UK) or to invest it somewhere safe.

The U.K. government in December 2022 announced extensive reforms to financial regulation that it says will overhaul EU laws that “choke off growth.” The package of 30 measures includes a relaxation of the rule that requires banks to separate their retail operations from their investment arms.
This measure — first introduced in the wake of the 2008 Financial Crisis — would not apply to retail-focused banks. (CNBC) 

This makes the banks and the Tory banker friends extremely happy but this move is a dangerous move for the common people which may bring a huge calamity where the small people may lose their deposits and savings where they thought is the safest to keep their money- the high street bank accounts. It gives the banks green light to give £100 of loans when they actually have just £1 deposit from a customer, to people who can't even pay it. It makes absolutely no sense. 
A Muslim businessman from London, a director of Black Stone store explained money in the bank is literally a loan to the banks to go and use as leverage for them to make money while they give us measly Haraam 0.5% per annum! 


Sir John Vickers, architect of post-2008 banking reforms, says plans put UK financial stability at risk. (Guardian) 

Even the bank of England warned Rishi Sunak against this city dereulation dive. (Financial Times)
Some steps we all can take:

1. Write to your MP and voice your concern and hold your MP accountable for what he or she is doing about this crisis and matter

2. Make a big fuss on the online platforms or discussions such as the common section of the financial time and raise concern about out this matter

3. Invest in gold or silver or property or property investment company or in a private company savings account. 

Investing in Gold 
The advantage of investing in gold and silver is that that even if every market crashes gold and silver will still keep it value in line with inflation.

The disadvantage of investing in gold and silver is that after you buy it you've got to keep it safe if. It is prone to getting stolen. And it doesn't give you a residual income such as rent that you can get from property a month after month year after year. 

Another thing about Gold and silver is that the asking price and selling price has a difference.

It will only make sense to buy these two commodities if they are kept long term and in a safe place.

Also I would definitely recommend buying at the best price and have a timeframe on when you want to sell as both of these commodities fluctuate added a stocks and shares investment entrepreneur. 

There are also companies out there that keep your gold and silver in a vault for a monthly fee.

And there are also companies that sell you the gold and silver and also offer this service.

Nature of modern money 


Bank of England data from 2020 tells us only 4% of the money in banks is cash. This is a massive problem, in 2008 this nealry broke numerous banks, they were not allowed to fail, peoples money would have been lost. Banks over people.

96% is digital, most certainly used for leveraged products.

How should you invest with your money? 
It is best to have money in assets like property, stocks, and business stock, unless you're really fancy and into Arts and collector's items. If you have millions, create trust funds, Tax efficient models.

If you are into stocks and shares I think a good place to take advice is from Warren Buffett. Read his books and watch his discussions online.

If you are property interpreter a good place to take advice would be from Robert Kiyosaki.

One of the emerging companies that is getting increasing attention is Aftab Ali Properties LTD.  

(Aftab Ali Properties's latest project) 

Islamic Finance Guru 
https://youtu.be/xm9GnaiYEyA 

https://www.cnbc.com/2022/12/09/uk-announces-major-overhaul-of-its-financial-sector-in-attempt-to-spur-growth.html

https://www.theguardian.com/business/2022/dec/09/jeremy-hunt-sets-out-sweeping-reforms-to-financial-sector

https://www.ft.com/content/e61c4fe8-1daa-40ab-a75b-7e6085062ea8 

Sunday, 25 December 2022

How England and Wales lost their religion

In the heyday of the Christian revival just over a century ago, preachers of Baptist and Methodist persuasions dotted the Welsh landscape with the chapels they built, leaving an architectural legacy as nonconformist as their congregations.
The state of these buildings, once numbering 6,500, is now one of the starkest manifestations of declining Christian faith in England and Wales. As pews have emptied and ministers died, many of these places of worship have fallen into dereliction or into the hands of estate agents who have sold them on for conversion into homes. In one instance in the town of Rhyl, one became a pawnbroker’s shop.

For those interested, you can do virtual “flythroughs” thanks to a digital archive created by the Royal Commission on the Ancient and Historical Monuments of Wales. But in the real world, the religious foundations of the chapels are crumbling.

“I meet a lot of kids who don’t know the Lord’s Prayer,” says Chris Bryant, Labour MP for Rhondda in south Wales which along with the nearby local authority of Caerphilly, recorded — at 56 per cent and 57 per cent, respectively — the highest proportion of people with “no religion” in the national census data for England and Wales published last month.

A mountain of slate overshadows the town of Blaenau Ffestiniog in Gwynedd, Wales. The census revealed that less than half of the population of England and Wales describe themselves as Christian. 

Christianity’s grip on the national psyche has been loosening steadily for more than a century. The release of the 10-yearly census data on November 29 has nevertheless sent shockwaves through the clergy and beyond, revealing a startling acceleration in this decline over the past two decades, and raising profound questions about the evolving nature of society.

The census revealed that, for the first time, less than half of the population of England and Wales, at 46.2 per cent, describe themselves as Christian, down from 59.3 per cent in 2011 and from 72 per cent in 2001. The second-highest proportion of people were those not identifying with any religion at 37 per cent, up 12 per cent over the decade.

Populists on the hard right, including Nigel Farage, the former leader of the UK Independence party, sought quickly to weaponise this data. They blamed immigration for the shift, pointing to cities such as Birmingham and Leicester where people from black, Asian and other minority ethnic backgrounds together make up the majority, also for the first time.

“There’s a massive change in the identity of this country that is taking place through immigration. You may think it’s a good thing, you may think it’s a bad thing,” Farage said in a video message, which echoed around social media.

When it comes to religion, however, his explanation for the changing demographics flew in the face of the data. In cities like London, immigrant populations from Africa, Asia and eastern Europe, are in fact helping to prop up the number of Christians. The rise in people identifying as Muslim — at 6.5 per cent of the overall population and 15 per cent in London — was a relatively marginal factor in change.

Instead, it is places like Rhondda, where the population is almost exclusively white and working class, where the Christian faith has declined the furthest and secularisation is accelerating fastest.

‘Sleepwalking into irrelevance’
The independent, non-hierarchical character of the nonconformist chapels which were the prevailing religious force in Wales, and the dependence of each one on the communities in their immediate surroundings, has hastened their demise. But the Church of England is also struggling to maintain its network of some 16,000 churches, despite its financial firepower and capacity to consolidate congregations, as the number of practising Christians dwindles.

In less publicised data that emerged after the census, average weekly attendance figures at Anglican churches in England had yet to recover from the pandemic. At 605,000 in 2021 this was just over 1 per cent of the population — a figure seized on both by the National Secular Society, which campaigns for the separation of church and state, and by members of the clergy critical of the Anglican leadership.

“Christianity is falling over a cliff,” says Peter Owen Jones, vicar in the picturesque village of Firle, tucked under the South Downs, in the southern county of East Sussex.

Owen Jones, who found his calling in his late twenties after a brief career in advertising, compared village churches like his to the village shops and pubs that are closing weekly across the country: “Sweet traditions that adhered to and gave a sense of place.”

But the Anglican church, he says, was “sleepwalking into irrelevance”, its leadership weak, and its parish branches withering through neglect.

“These parochial institutions are fading — they cannot cope with the call to a much broader view . . . of how we express our common humanity.”

At once enervated by the philosophical challenge this poses and despairing at how behind the curve he says the Anglican leadership had been in keeping up with societal change, Owen Jones argues that the church needs to “completely reframe” its ambitions for the 21st century.

This means engaging more with other religions, more boldly with big questions of the day such as climate change, diversifying the clergy to become more representative — or at least less old and male — and disentangling itself from state institutions that were themselves, he says, “rotting from the top”.

Peter Owen Jones, vicar of Firle, compares churches like his to the village shops and pubs that are closing weekly across the country. 

The church has too easily lost its grip on some of the traditions that provided a sense of community and belonging, he adds.

“Christianity has very meekly surrendered its main rituals. Lent was the first to go,” Owen Jones says. “Christmas was overtaken by the market, and Easter is now just a few days off to go somewhere else. These points of cohesion have been subsumed.”

While the church has often taken a moral lead in opposing the Conservative government on some of its harsher approaches to people on welfare benefits and refugees, for example, it has appeared more divided, and therefore indecisive, on highly charged issues surrounding homosexuality, same-sex marriage and women clergy.

One of the difficulties for the Anglican church has been in providing convincing leadership while combining both global and national roles. The Archbishop of Canterbury, Justin Welby, is the leader in England and in more socially conservative countries, notably those in Africa, which hold vastly different views on everything from sexuality to the death penalty — a legacy of colonial times.

Arguably far more damaging to public trust, however, has been the handling by all the churches — Catholic, Protestant, in Wales and England — of abusive priests.

The long-running independent inquiry into child sex abuse in the UK, which published its final reports in October, found all the churches wanting and said the Church of England had “failed to protect children and young people from sexual predators within their ranks”.

“In neglecting the wellbeing of children in favour of protecting its own reputation, the Church of England was in direct conflict with its own underlying moral purpose; to provide care and love for the innocent and the vulnerable,” the inquiry said.

Social safety net
For many clergy, repairing this damage — and putting in place safeguards to prevent its reoccurrence — is a priority, if the church is to regain the moral high ground.

“When in history have there not been divisions in the church?” says Philip North, the outspoken bishop of Burnley in Lancashire. “A far bigger problem for me has been the church seeming hypocritical. The child abuse scandals have been a disaster. One thing you can’t do in this culture is say one thing and do another.”

In an age of prevailing uncertainty, he goes on, the place of religion in society is not to dictate the answers.

A far bigger problem for me has been the church seeming hypocritical. The child abuse scandals have been a disaster

“We need to create spaces where people can bring questions and conversation. When you look at Jesus, he answers questions and draws people into relationships. The church has been too interested in declaring truths,” he adds.

The irony, he says, is that just as there appears to be “this drift away from the Christian faith”, vulnerable members of the population have become, during the cost of living crisis, more dependent on churches than ever for their basic wellbeing.

On Sunday, the Archbishop of Canterbury said that the Church of England had seen a 400 per cent increase in people coming to its food banks in the past 18 months. But that doesn’t necessarily translate into growing congregations.

In north London, the Freedom’s Ark church has seen a comparable rise in need and is providing food to between 500 and 600 people a week.

The church operates out of a rented room in the old town hall in the London borough of Haringey. Its pastor and founder, Nims Obunge, presides over a committed congregation of around 100 people — relatively small by comparison with some of the evangelical megachurches, such as Ruach and the Kingsway International Christian Centre, which draw thousands of worshippers from the African and African-Caribbean community each Sunday.

Nims Obunge, pastor of Freedom’s Ark Church, in debate with Philippa Stroud, co-chair of the Race Equality Commission. 

Obunge, whose parents were from Nigeria, went up against Farage on GB News in the wake of the census, refuting some of his notions about what is driving Christianity’s decline.

He explains that minority ethnic communities like his are still transferring the Christian faith from generation to generation. Moreover, they are playing an almost missionary role in keeping faith alive in England.

“The Afro-Caribbean and other migrant churches have a strong expression of worship that in some sense dates back to the missionary input in our nations many years ago,” he said. “There is a sense we are obligated to reinvest those values of faith back to the British.”

Obunge sees being a pastor as far more than conducting Sunday worship and has taken a lead in London, for example, in the fight against knife crime.

“I have always felt that our responsibility is to be a church without walls actively participating in issues facing the community, and not only addressing these locally with families but representing the perspective of the community at a local and national level,” he says.

Like many Christians, however, he is also preoccupied with what happens should the religious underpinnings of public morality continue eroding.

“Once we neglect those core values, society is generally at risk of spiralling out of control. We owe it to our Judeo-Christian foundations to remember the values that brought to society,” he says.

Separation of church and state - 

On the political front, one obvious question raised by Farage’s intervention, is whether populists on the hard right will seize on trends outlined by the census to stoke the flames of English nationalism and increase their political influence.

The answer, according to academics and charities who track extremism online, is there is not yet much evidence of the UK importing the kind of Christian nationalism that underpinned Donald Trump’s rise in the US.

For the likes of Farage, meanwhile, there is only so much value in plugging a religious angle when the dominant national trend is now towards secularism.

When it comes to the Conservative party, it can no longer rely to the same extent for bulk votes from followers of the Anglican church, traditionally known as the “Tory party in prayer”, given the overall decline in numbers. It now targets Christian votes more broadly.

“In the long run there is a risk that the Conservatives will lose voters because of the declining number of Christians,” says Ekaterina Kolpinskaya, lecturer in British politics at the University of Exeter, and co-author of Religion and Euroscepticism in Brexit Britain.

The Tories have broadened their base beyond Anglicans to include Christian groups that did not support them in the past

“But on current showing, we do not see either a decline in support for the Conservatives among Christians, or the effects of decline in the number of Christians, as the Tories have broadened their base beyond Anglicans to include Christian groups that did not support them in the past,” she adds.

Does the overall decline in religious identity, so pronounced in places like the Welsh valleys, augur chaos and fragmentation?

Secularists point to Scandinavian countries such as Denmark and Sweden where Christian identity is in even more advanced decline, as models of progression.

Meanwhile, in England, unlike in France and Germany, where the number of people identifying as Christian is still much higher, the Anglican faith remains the constitutionally established state religion, In the House of Lords, which has 786 sitting members, there are 26 bishops representing the Church.

All pupils in English state schools are, in theory, supposed to take part in some form of collective worship every day.

These legacies of a more Christian past can seem anachronistic when only a little over 1 per cent of the population attends Anglican church services.

“We are almost at the point where it starts to look ridiculous and embarrassing,” says Stephen Evans, head of the National Secular Society.

He acknowledges however, that the disestablishment of the church is not yet a priority for English voters. It would occupy huge amounts of parliamentary time to accomplish, and it is not clear any political party is ready to stick its neck out on the issue.

Evans thinks it more likely that over time those voices within the Anglican church, like that of Peter Owen Jones calling for the separation of church and state, will grow louder.

“It is about pursuing their own mission with integrity without being restrained by entanglement with the state,” he says. In Wales, that has already long since happened.

Wednesday, 31 August 2022

Extravagent South-Asian British Wedddings

By Abdur Rahman (London) 
Asian Weddings costs a lot of money. Averaging £50,000 to £70,000 from each side. Societal pressures often make people have to spend such amounts. Inviting 500/700 people to an Asian Wedding is normal.

What’s left is often thousands of pounds of debt or life savings from the parents gone on the wedding. And if you ask the bride and groom, they probably didn’t even want such an extravagant wedding.

If you don’t invite people to your wedding, they get upset. If you don’t have an expensive wedding..people call you cheap, if you don’t have a limousine..people whisper..and most of all, us Asians are so fussy when it comes to food..that if the food isn’t nice..we start complaining..dude, the food is free, you are a guest..just be polite and learn some decorum and come to the wedding with a suit on at least! 

Perhaps the way forward is to have an intimate wedding with close family and friends. A wedding that is memorable and beautiful without having to spend 70k. We need to start using our imagination and also forget about societal pressure and just do what’s right for the bride and groom..it is after all their big day.

Soyeb Aswat from London suggested "I don't see the problem with inviting large numbers of guests and keeping it simple. You can feed people well and cheaply. Do away with the ostentation and bring back some humility." 

Saira Begum Mir who also lives in London commented "People need to change their attitude , they themselves need to learn life is not about glam ..it’s simple stop showing off!!"

Abdul Malik Collins, a white retert who is from Cambridgeshire recalled his weeding over twenty years ago "Yes bhai, for years the trend has been to show off and spend loads of money on critical, ungrateful people. At my wedding it was a local community centre and food cooked and served by relatives. Nice intimate family weddings are what we should strive for." 

Yashmin Harun who got married 20 years ago in London suggested "My wedding had 500 guests. No glitz and glam. Just in a community hall. Everyone was fed everyone enjoyed themselves. There was none of this bride and groom going missing For hours for photos it was all family and guest orientated and didn’t cost £1000’s! Maybe we just need to go back to basics!" 

Awais Abid explained "Pakistanis are spending £40-£70k on weddings . They blow £5-£10k just on fireworks £20k + on hired cars some are paying £35k+ on wedding halls inclusive of food etc, then add the gold, designer outfits , stages, cakes , extra jazz & thousands of guest to feed  & much much more... All of that easily adds up". 

A great suggestion was given by a Fatima from North Lanarkshire "I would rather give the money to the kids maybe they can put it towards a deposit of a house or go to hajj etc" 

Zaheer Zay Ahmed explains "The best way is to follow the sunnah, simple Nikkah at the masjid with the witnesses and close family & friends and then a walima where you call your guests again close family and friends. None of these so called lavish weddings is Islamic in anyway. You pay for your guests to come eat your food and talk about you behind your back." 

Perhaps the way forward is to have an intimate wedding with close family and friends. A wedding that is memorable and beautiful without having to spend seventy thousand pounds. We need to start using our imagination and also forget about societal pressure and just do what’s right for the bride and groom... It is after all their big day.