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Cash is my only GOD!

19 October 2010 1 comment

Sriram Natarajan

Risk Dog

Credit Risk Fraud Cards Professional

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!

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Comments: (1)

John Dring Digital Services and mCommerce at Intel Network Services

21 October 2010

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/

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Sriram Natarajan

Risk Dog

Credit Risk Fraud Cards Professional

Member since

22 Nov 2007

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Gurgaon

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