Salam alaikum dear friends,
Just came back from a very inspiring talk organised by ISOC of notts uni on islamic banking. It was a very eye opening experience being told about the hidden and obvious oppresity of the current corrupted, full of deception economy that we like it or not are practising.
One bizarre eg of the oppressing effect of the economy is the current condition that we can see in 'poorest' countries in Africa. Not that they are poor actually as they have plenty and plenty of resources. However, due to the deception of the current economy through lending based on riba' (interest), they are trapped in severe debt that leaves their people to be deprived of basic necessty which explains many death due to malnourished infants etc.
The horror effects of interest can be not as straight forward. But bottomline it really is oppressive. The richer gets richer and they poorer stays poorer. Why aren't we not listening to what god has clearly ordered us to do in the quran?? I'm telling u, if we keep on deviant like this, the situation will get worse and worse.
The talk really reaffirmed my belief that if one studies and practises Islam with the collective understanding, it can practically solved ALL of our problems in life.
many2 eg that i can cite from the talk tonite, but i just wanna touch on economy based on what God has ordered us to practice as stated in the Quran and its reflection from the practice of the prophet (hadith).
one thing that differentiate islamic economy with the current one, that i think we all should ponder, is that islamic economy looks at the welfare of the people, also regardless whether u are muslim or not whereas the current oppressive economy looks at profits. omitting interest (with proper islamic management) will surely benefit everyone.
Sadly, there isnt any clear initiative that we can gather at the meeting that we can gather at the talk!
Could this be that muslims have not yet found the islamic economy which is practical enough to be practiced in the muslim?? if this is so, muslims themselves should be blaim. and i'm telling you i dont dare to face the wrath of god if we, that has been given clear guideline from God, are not doing enough to practise what we have been given. It's a real shame.
Anyway, I was watching a video clip from bilal philips from ediscoverislam.com on interest. And then i got an idea on how to apply islamic banking practically in this modern world as follow:
1. What if we set but a REAL centralised Islamic Bank. It must consist of pious Muslim economics from all over the world. Non muslims should be allowed to join in as well.
2. EVERYONE particularly muslims must be encouraged to deposit money in this bank.
3. Remember that the objective of this bank follow the objective of islamic economy which focuses on the welfare of the people.
4. Lending must NOT have any interest.
5. But of course lending must carefully be managed so that people dont simply borrow as they wish to. Islamic management of the bank will determine if they really deserve them. Non-muslims again should be allowed to borrow as well.
I think this idea will definitely work esp with further guidance based on the quran and hadith.
I hope i have conveyed my thoughts for the God (Allah).
May Allah grand us success in this world and hereafter iA.
1 comment:
salamz atiq..after reading through what you've written, i guess i would have to agree totally with you.But i am afraid that not many people at present are conversant enough in the field of islamic banking although they might seem to be, this is what i think..because to really set up a full-bodied islamic economy requires people from various academic fields with an exhaustive understanding, at least of the basic tenets of Islam.But talking from the facet of optimism,yes i do believe this concept that you've put forward is applicable, anytime.But we need to change people's mindsets first, or rather influence them to change theirs by expressing ours to the best ;)
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