Thursday, January 22, 2009

Obama has changed the history of the U.S....

President Barack Obama's inaugural speech was fascinating in substance. No doubt the leader who promises "change" has changed the history of the U.S. in becoming its first black President with the strong support of the American people who have exhibited their preference for him without any colour discrimination which is really an excellent exhibition and proof of their camaraderie and changed outlook in accordance with the need of the present time.

The blunders committed by George Bush cannot be considered as those of the American people as a whole. It is now for Obama to prove his mettle in doing so many things which the world expects and demands from him such as ending the 60 year old Israel-Palestine conflict, withdrawing troups from Iraq and Afghanistan and strengthening Indo-American relations etc. He has also to make the people the worldover believe that his country is for world peace and not for interfering in any other country's internal affairs and creating troubles.

Sunday, January 18, 2009


The comments of R. Seetharaman, chief executive officer of Doha Bank (Micro sector fit for Islamic financing, Deccan Chronicle dated 16 January 2009) are worthy of consideration and implementation. Islamic financing is not exploitative in nature as in the case of the 40 per cent interest charged by banks for credit card users. Reports of a large number of such users being in deep trouble unable to pay their dues is the result of a system which is based on legal and not practical grounds. Of course the defaulters are also equally guilty. There needs to be some serious thinking about this state of affairs. The welfare of the people should be dearer to rulers.

If an Islamic banking system is introduced along with the existing one, we can attract big investments from oil rich as well as other countries as the CEO has explained so convincingly. The undersigned had written an article sometime ago in the Financial Express about the necessity of having atleast a counter for interest free banking system in our country.