- Islam is acclaimed and proliferated as complete code of life rather than a religion thus its applications on every facet of human life should be workable and acceptable to every society and every person irrespective of individual or collective faith. The basic aspiration of Islamic life style is taken from Quran theoretically, besides Sunah and compiled jurisprudence later. However, it is generally expressed that Quran is emblematic and needs interpretations by exegetists with reference to Sunah coupled with consensus and analogical reasoning by jurists whereas, Allah says in Quran” I have certainly made easy the recitation of repetitive (Ziker mean Quran) so is there anyone who gets admonition or wisdom”. 54/17. Thus there is no way that Quran does not explain any subject related to human life explicitly. Is it possible that an act which if not complied with is referred to be belligerence against Allah and his messenger (Riba) is not elucidated in Quran? What Quran says about Riba, usury or (interest) is mentioned here forth in chronology: –
a. And whatever you give for usury in order that it may increase in people’s wealth, it will not increase in the sight of Allah; and whatever you give for Zakat, seeking Allah’s pleasure, it is they who are the multipliers (to get manifold reward). 30/6.
b. And (because of) their taking Riba (Usury) although it had been forbidden to them, and their wrongful devouring of other people’s possessions. And for those from among them who [continue to] deny the truth we have readied grievous suffering. 5/161
c. O you who believe! (Do) not eat Riba doubled, re-doubled. And consciously revere Allah so that you may (be) successful.4/130.
d. And strive with one another to attain your Sustainer’s forgiveness and a paradise as vast as the heavens and the earth, which has been readied for piety, those who spend (in charity), both in prosperity and adversity, who restrain their anger and are forgiving towards people. God loves those who do good works. 3/133,134
e. The standing of those who eat Riba is like standing of the one who is confounded by Devil’s stroke that’s because they say trade is just like Riba, whereas Allah has permitted trade and forbidden Riba. Hence those who have received the admonition from their Lord and desist, may keep their previous gains, their case being entrusted to Allah; but those who revert shall be the inhabitants of the fire and abide therein forever. 2/275
f. 0, believers, consciously revere Allah, and give up what is still due to you from the Riba, if you are true believers.2/277.
g. If you do not do so, then take notice of war from Allah and His Messenger. But, if you repent, you can have your principal. Neither should you commit injustice nor should you be subjected to it. 2/78.
- Above referred verses of Al-Furqan decisively ordain that usury (Riba) is forbidden. A declaration of Quran cannot be made without suggesting an alternate system still debates and counter arguments on the subject have been utmost discussed subject in Islamic jurisprudence without recommending any practicable substitute. It could be due to any or wholesome reasons of the following : –
a. It will not be wrong to say that, Riba (interest) is one of the most controversial terms in Islamic economic literature. The root cause of this confusion is that, Muslim thinkers & economists are doing a basic mistake by dividing the assets in two categories, i.e. currency/paper money and rest of the assets. According to them, reward of former is riba and it is prohibited, whereas the remuneration of the latter form is lawful in the form of rent. This division of assets is basically producing unsolvable problems for them, because justification of this artificial bifurcation is not possible. Actually the Quranic point of view is that remuneration of all forms of assets in any shape, or in any quantity, regardless of purpose & time period of lending is riba, which is strictly prohibited.
b. Another aspect which demand thread bare is practical understanding of the objective of Quranic commandments. Quran austerely prohibit economic exploitation (Deprivation) to any party, person or group involved in direct or indirect business, trade, lending or financial dealing. In any deal involving currency, moveable or immoveable wealth or property, manipulation and hurt to anyone involved shall be Riba.
c. Yet another misperception is mixing of Arabic terms. Riba is correctly translated as usury not the interest which denotes increase, growth at a fast rate. Bai is another Arabic word which means trade. Trade is always initiated to earn profit. If this profit is unjust, it shall be Riba while Muslim jurists declare that if amount and time is fixed, t shall be Riba. It is not conceivable that when Allah defines Riba fair and square in Verse no 130 of Surah Al-Nisa, as doubled or redoubled without any time and fixture, why confusion prevails?
d. Quranic commandments are universal and applicable in time and space without finite except narrations of historic events. For example when you read the first revelation to Prophet AS, it reads “Read, with the name of Allah who created you, created human from a lump of flesh” we immediately imagine that angle is addressing prophet while he is reading himself today and defy that he is being addressed. We have to shun the notion of this perception that Quran is book of reward to earn paradise just through reading. Infect Quran is operational manual of the finest machine called Human. Leading life in accordance with teaching of Quran may salvaged us instead of reading it without understanding.
e. Another aspect of Muslim reaction is declaration of something un-Islamic and conspiracy without solution of the issue and presentation of its alternative making teaching of Islam questionable amongst others.
- After the analysis of problem here we start with a road map to the issue in the light of Quran. Allah commend in Quran that stop Riba and increase spreading Charity.
Islam offers a state of the art economic disposal of compulsory charity “Zakat”. No another misperception about the Zakat is spread regarding its use and claimants which is yet another subject. Nonetheless, a proposal is made here forth regarding charity and its institutional use in Pakistan: –
a. When it comes to charitable giving, Pakistan is a generous country and it contributes more than one per cent of its GDP to charity, the Stanford Social Innovation Review reported. The contributions push it into the ranks of far wealthier countries like the United Kingdom (1.3 per cent GDP to charity) and Canada (1.2 per cent of GDP), and stand around twice what India gives to those in need as a percentage of its GDP. A study conducted by Pakistan Centre for Philanthropy shows that Pakistanis give around Rs: 240 billion (more than $2 billion) annually to charity.
b. Driving this culture of generosity is due to the Islamic emphasis on giving in the form of Zakat, Sadaqa, and Fitrana as well as other moral and social factors and a deep rooted sense of compassion toward deserving community members. But despite this tradition of giving, most donations go directly to individuals, thus bypassing charitable organizations. While supporting needy individuals plays an integral role in Pakistan’s social safety net, to realize the full impact of philanthropy for more sustained development efforts, Pakistan must do more, the authors of the study say. In order for Pakistan to become a more integral player in the sustainable development agenda, it needs to make efforts to institutionalize the individual tendency of giving and redirect it toward more-structured efforts, the study recommends.
c. Why people prefer giving direct to needy has a reason. Out official channels and departments are so corrupt and nepotism oriented that masses have no faith on them. If serious effort is initiated whereby such donations are centrally collected and made use of, it shall change the society within half a decade.
d. Four provincial capitals including Islamabad to be declared Charity hubs. Rs: 240 billons is not a small amount. Instead of giving cash all deserving people are categorized into three cadres as A, B and C with a ceiling of funding and supported to start some entrepreneur with some percentage of return. Besides making those self-sufficient it shall increase the volume of charity as Rs 240 billion are already generated.
e. This network can be extended to other cities and besides charity collection and distribution, progressively start banking without interest and usury. Since it shall be interest free shall attract people for deposit being Islamic and profitable.
f. The organization can have R&D wing to start business out of some dedicated amount from charity like construction, industry, transportation and import export like Fouji Foundation and AWT. After some time it singly shall become the economic joint in the county however, only prerequisite is dedication, honesty and transparency which is almost nonexistent in Pakistan.
g. It may be remembered that UNHCR, WHO and many more UN and West based organizations are charity based organ. Their success is dependent on honesty, transparency and denial to nepotism. If we could bottle the gin of corruption, we may give an excellent alternate to the world against usury instead of slogans and criticism.
- The core problem with modern day Muslims is criticizing West and Non-Muslim for every evil on earth without any compatible and workable solution. Prophet Muhammad, peace and blessing of Allah be upon him presented himself as role model to his followers and Ummah that is how Islam spread over half of the world within three decades. Our governors and religious leaders display a serious dichotomy. They say” do what we say do not do what we do”. Since they are role models thus every member of the Islamic society preach Islam but do not follow Islam. The day we overcome this dichotomy in speech and application, we shall be flag barrier of new world order of
peace, tranquility and equal rights for all.
