"Islamic Banking" Ah Longs

A local Malay tabloid reported that an Ah Long syndicate (Loan Shark) in Johor Bahru is misusing Islam in its advertising to misrepresent to the public, particularly Muslims, that its business is halal and trustworthy.

The Ah Long's advertisement apparently says that their money lending business is "Islamic Banking" compliant (based on the Bai’ al Wafa dan Al-Ijarah concept) - interest free loan.

To the general public, these Ah Longs appear to be adapting to the times by offering "Islamic financing". Unfortunately, these Ah Longs are not financial wizards. They are not introducing anything innovative to loan sharking; they are simply misrepresenting their business to the public, which tantamount to cheating (in addition to engaging in an illegal activity).

According to the tabloid, the Ah Long syndicate advertises its business by way of fliers distributed to houses in housing estates in hope of attracting new business particularly from unwary Muslims.

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