Main Article Content
Islam is a Global Religion teaching every kind of social, moral, personal and economical values to human beings. One of the most important aspect of today’s era is its circulation of wealth. Wealth is a great blessing of Allah Almighty and that is why Holy Quran and the life of Holy Prophet Muhammad (PBUH) have always been a beam of light for us to follow in this regard. Unfortunately, human desires and modern means of trading have introduced a dominated capitalist system which leave no stone unturned in exploiting mankind. This capitalist system works on interest. In fact, it would not be wrong to say that all international economic forums and organizations have interest rate as their backbone. But Islam declared it haram to prevent the rise of oppression against weaker links of society. Islam introduced alternative trading means including musharakah, Mudarabah, istisna etc. Thus in the era of materialism where every man is running for material things and acquiring wealth has become the only purpose of life, it is crucial to rise on international platforms in order to prevail the Islamic economic structures in world. Ofcource, it is not a one-man job. Governments and organizations will have to work together starting from individual revolution. Individuals will have to control their desires in the first place. In addition to that, new business models incorporating purely Islamic economic structures should be introduced keeping in view the feasibility of them models. This is the only way and hope to save humanity from the dirt of Usury.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Ibn Manzoor, Lisan ul Arab, Dar Sadir, Beirut, 1414 AH, Vol. 4, p. 304
Isfahani, Al-Mufaradat fi Ghareeb al-Qur’an, Dar al-Marafa: Lebanon, vol. 1, p. 340
Abu Bakr Jisas, Ahkam al-Qur'an, Dar Ihya al-Tarath al-Arabi: Beirut, vol. 2, p. 189
Ibn Majah Abu Abd Allah, Sunan Ibn Majah, Chapter Ijara Al-Ajir Ali Ta’aq Batna, Hadith: 2444, vol. 2, p. 817
Muhammad bin Abdullah al-Khatib Tabrizi, Mishkaat al-Masabeh, Kitab al-Bayu, hadith: 2783
Fakhruddin Razi, Tafsir Kabir, vol. 2, p. 351
Jarir Tabari, Jama Al Bayan, vol. 3, p. 67
Bukhari, Sahih al-Bukhari, Dar Tawq al-Najat, 1422 AH, Chapter Bi’ al-Fidat al-Fidat, Number of Hadith: 2177
Muslim bin Hajjaj, Abu al-Hasan al-Qashiri, Sahih Muslim, vol. 3, p. 1218, hadith number: 104
League of Nations, Prosperity and Depression, First Edition, p.195
Muhammad Baqir al-Sadr, Ghair Sudi Banking ka Nzam, (Translated by: Zeeshan Haider Javadi), Jamali Publication, Bombay, 1974, p.72
Also, p. 73
Ghulam Rasool Saeedi, Allama, Tabiyan al-Qur’an, Farid Book Stall: Lahore, 2005, vol.1, p. 1042