21 June 2018
Sriram Natarajan

Sriram Natarajan

Sriram Natarajan - Credit Risk Fraud Cards Professional

74Posts 209,551Views 29Comments
A post relating to this item from Finextra:

Somali Islamists ban mobile money

19 October 2010  |  8557 views  |  0
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  |  4170 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!


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:


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

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