22 October 2017
Sriram Natarajan

Sriram Natarajan

Sriram Natarajan - Credit Risk Fraud Cards Professional

74Posts 202,737Views 29Comments
A post relating to this item from Finextra:

Somali Islamists ban mobile money

19 October 2010  |  8353 views  |  0
3393.jpg
A Somali Islamist group has told telcos in the country to stop offering mobile money transfer services, branding the practice "unIslamic".

Cash is my only GOD!

19 October 2010  |  4017 views  |  1

This weird 'fatwa' by Somali Islamists seems to reiterate the fact that only paper money (cash) is the God they recognize! I found this quite intriguing.

I have heard and even empathized with numerous objections to mobile / E -money - security, cost, usage issues, etc. But I haven't seen anything like this!

The 'green shoots' of Mobile money and Electronic payments can do without another naysayer - that too seemingly with religious sanction. In fact, what we need a declaration by all religions of the world endorsing electronic payments against cash.

A cashless society is not going to be a Godless society!

TagsSecurityPayments

Comments: (1)

John Dring
John Dring - Intel Network Services - Swindon | 21 October, 2010, 11:44

Yes, this is an interesting one!  I am following MMT and have some products supporting it.  The market in predominantly Islamic countries is huge and a main goal of 'banking the unbanked' should help - it gives them options and some independence from the primary capitalist instrument (the Banks).  I am not even close to being knowledgable in Islam/money, but e-payments make it even easier to build in the 10% 'zakat' payment they advocate (on earnings/received money).

And along the way I found this great blog than transcends any religion:

http://www.haqislam.org/daddy-can-i-have-10-dollars/

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Latest posts from Sriram

How to put a 7 Billion dollars stimulus to good use!

17 July 2012  |  3431 views  |  0 comments | recomends Recommends 1 TagsCardsPayments

Too big to Retail....

06 November 2011  |  3591 views  |  1 comments | recomends Recommends 1 TagsRisk & regulationRetail bankingGroupFinance 2.0

The giant US Banking Regulatory 'sink-hole'

24 July 2011  |  4954 views  |  0 comments | recomends Recommends 1 TagsRisk & regulationRetail banking

Fastest and most responsive to disasters- Scammers!

23 March 2011  |  3849 views  |  0 comments | recomends Recommends 0 TagsSecurityRisk & regulationGroupInnovation in Financial Services

Open Sourcing of Card Networks?

04 November 2010  |  3501 views  |  1 comments | recomends Recommends 0 TagsPayments

Sriram's profile

job title Risk Dog
location Gurgaon
member since 2007
Summary profile See full profile »
A consumer credit/risk and payment cards professional with interest in next generation technologies and growth strategies.

Sriram's expertise

Member since 2007
74 posts29 comments
What Sriram reads

Who's commenting on Sriram's posts