The Facts About Usury:▶ Why Islam Is Against Lending Money At Interest
Indeed all praises is for Allah, we praise Him, and we seek His aid, and we ask for His forgiveness, and we seek Allah's refuge from the evils of ourselves and from our evil actions, he whom Allah guides then none can misguide him, and he whom Allah misguides then none can guide him, and I bear witness that none has the right to be worshipped except Allah, Alone, having no partners, and I bear witness that Muhammad(P) is His slave and His Messenger. To proceed:
After the South-Asian economic tigers turned into paupers after the meltdown, it was realized that their economic model was no longer the one that needs to be emulated. The capital borrowed by these economies (at an interest, of course!) to fire up their economic engine was without any or little circumspection. But when the bubble bursted, the currency plunged, many banks went bankrupt and so did the people into hard times.
The good old International Monetary Fund (IMF) came to rescue of many countries with loans with a high interest tag and sell out of the nations to hungry multi-nationals, euphemistically called as 'opening the economy'. Muslim majority countries like Malaysia and Indonesia suddenly turned towards the God and Qur'ân for guidance. But still they are yet to realize that the economic mess which they are in, is their own doing. By following the disbelievers in their actions, they brought themselves into hardships.
It is true that Muslims have started 'monkeying' the Western values blindly in almost everything. This comes with the rejection of Islamic values which are considered to be 'old' and hence should be 'discarded'. The so-called 'Freedom', 'Human Rights', 'Democracy' and 'Women's Rights' in Europe and America is nothing short of a joke. It may impress uneducated people in so-called Third World countries, but anyone who has studied history knows that these things came about in spite of the Church, not because of it.
Just think how the standards in a democracy change: Couple of decades or so ago, homosexuality was looked down-upon in many 'democratic'countries. Some people realized that the homosexuals were not getting a good deal in the society. Therefore, the virtues of Sodom were sung, movies were made to promote their cause (notably, the Oscar winning Philadephia!) and even the Church started singing God hates sin but loves sinner to attract the homosexuals to the Church (one wonders what did God do to the people of Sodom and Gomorrah!). In a gist, the values of a democratic society changes when a number of people decide to take a change (after all, democracy is by the people!). They can decide to support a dictator of a country one day and demonize him the other day. Presidents Saddam Hussein of Iraq and Suharto of Indonesia would be a good examples.
It is also well known that 'Freedom', 'Human Rights', 'Democracy' and 'Women's Rights' take a back-seat when the economic interests are more important than anything else. Indonesia was one such example and now Algeria is a prime example of the Western hypocrisy. To the West, democracy did not matter when democratically elected party of Islamcists won; the elections were cancelled. Afterall, the Western companies have to get the lucrative business of newly discovered oil and gas reserves in Algeria.
After working through this hypocrisy of the West, let us now take a look at the article. The article below on usury, which was published as a pamphlet by UK Islamic Mission Da'wah Centre, Birmingham, is definitely an eye-opener, inshallah, for people who do not realize what economies based on usury and speculation can lead to grave problems for the mankind.
Lastly, has anyone ever wondered why a third world country remains a third world with a perpetual budget deficit even after IMF has 'helped' them out of their economic problems?
At times of economic hardship, when every good idea fails, just because "the money can't be found", when a decline in services is explained with the need "to reduce the deficit", when business can't afford new investment because of the "high cost of borrowing", when mortgage rates have gone up so much that it becomes diffcult to maintain a decent living standard, many small savers still think that high interest rates mean at least that they get the most out of their savings. The truth is, they pay more than they get.
According to most govemments the only ways to control the deficit are to raise taxes or to cut govemment spending. However, considering that the deficit continues to grow simply because of the exorbitant amounts of compound interest added to the original debt, one of the most effective ways to reduce the deficit would be to reduce interest rates.
Lower interest rates = lower deficit
In fact, at zero interest, the debt would not grow at all, and the large amounts of money spent in servicing the debt could be used to pay it off.
Now consider what the Qur'ân has to say on the subject of usury, that is lending money at interest:
Those who devour usury will not stand except as stands one whom the devil by his touch has driven to madness. That is because they say: Trade is like usury: but Allah has permitted trade and forbidden usury.... Allah will deprive usury of all blessing, but will give increase for deeds of charity, for He loves not any ungrateful sinner.... O you who believe, fear Allah and give up what remains of your demand for usury, if you are indeed believers. If you do it not, take notice of war from Allah and His messenger, but if you repent you shall have your capital sums; deal not unjustly, and you shall not be dealt with unjustly. And if the debtor is in difficulty, grant him time tin it is easy for him to repay. But if you remit it by way of charity, that is best for you if you only knew. [Surah al Baqarah, verse 275-280].
How urgently is this message needed in a world where the "debt crisis" threatens to destroy and annihilate our civilisation, were open warfare is increasingly the consequence of the anxiety and suffering that spring from third world debt. Politicians have seldom looked at money-lending at interest as the cause of widespread poverty in the midst of plenty, because whilst this practice was once forbidden by Judaism, Christianity and Islam alike, it has become universally accepted in the modern world of secularism. It has been argued that money is a "producer good" and that the lender should receive a share of the extra wealth that these goods produce.
Yet this is illogical on several points. The only true producer of wealth (i.e. goods and services) is Labour when it is applied to either Land or Capital. Unlike Land, Money is infinite when not artificially restricted, which it often is. Money is man-made out of nothing and at tiny real cost. This credit creation confers enormous economic power and influence on those usually private institutions who have secured for themselves monopoly rights in this money issue.
That private banks create money out of nothing is a fact too little known amongst the public. Our national debt stands at over 200 billion pounds, and that of other industrialised countries is of similar magnitude. Have you ever asked yourself who is that fabulous lender who always seems to have all the money which the government does not have? Whom does the nation owe the national debt? The truth is that when banks create money (as cheque-money or blips on computer screens) they lend what they have not got to reap where they did not sow. Their loans are not backed by any real wealth on their behalf. Nor do they lend out depositors' money (or when did the bank last tell you that you can't take out money from your account, because it has been lent to someone else?).
When you give your house or business as guarantee for their money, this money is not backed by gold, silver or tangible wealth. It is an empty promise except for the fact that the govenment, with the central bank as lender of the last resort, is ready to bail out the banks should a run on their money occur. Bank-created credit is based on the nation's capacity to produce and consume in the sense that whilst it is not issued nor backed by the government, the government - being the largest debtor - guarantees a certain return in debt service payments from its revenue. An increasing part of local and national government taxation today is raised for the purpose of servicing the interest payments on local and national govemment debt.
So whether you personaily borrow or not, you pay the interest on that fictitious rnoney. Likewise, when you take a bank loan, you pay at least twice: you give a guarantee of real wealth in case of default, and you pay a penalty (as interest) for accepting money as a loan which costs the lender nothing and did not exist until it was created as a loan to you. Heads you lose, tails you lose again...
As should be evident by now, to base an economy on interest is a pretty stupid way of servicing a nation's need to produce, consume and trade. It results in the evils of inflation, unemployment, decline of services, trading war, and finally, shooting-wars. Using interest rates as a means to control the problems of a nation's economy is futile, as these problems were created by interest in the first place. Only when a government creates its own money supply free of charge to the nation to facilitate production, consumption and trade, instead of authorising private banks to create the nation's money and then holding the nation at ransom by breaking its back under the ensuing interest debt, only when we get back to a system where the usurer is not being rewarded for taking advantage of others' difficulties, will we achieve real prosperity.
Islam, often laughed at for sticking to its principles and not "moving with the times", has never given in to the demands of the money-lenders to change its tough stance on interest. Naturally, Islam has increasingly been attacked by the financial interests behind today's media and politics. Looking at the evidence with an open mind, however, it should not take you long to realise that Islam makes sense, and interest doesn't.
We have it under our foot in Adan in Yemen !... it is fire….the fire that, according to the Islamic literature, will drive people to their assembly place on the Last Day.
Hudhaifa b. Usaid Ghifari reported: Allah's Messenger (may peace be upon him) came to us all of a sudden as we were (busy in a discussion). He said: What do you discuss about? They (the Companions) said. We are discussing about the Last Hour. Thereupon he said: It will not cone until you see ten signs before and (in this connection) he made a mention of the smoke, Dajjal, the beast, the rising of the sun from the west, the descent of Jesus son of Mary (Allah be pleased with him), the Gog and Magog, and land-sliding in three places, one in the east, one in the west and one in Arabia at the end of which fire would burn forth from the Yemen, and would drive people to the place of their assembly "Book 041, Number 6931"
The spread of the fire, when this volcano erupts, won't be prevented by the existence of the seas as these, in addition to the other seas in the world will turn into fire,. The Holy Quran says what means : "..And when the seas turn into fire."
But Why Adan in Ymen?
Most of the lands of Adan is located in the surrounding sea of the sea, Adan, according to consensus of studies, has been formed as a result of a huge unprecAdanted volcano that broke out and remained erupting for a long time leaving after its extinction a huge crater just like any other volcano, but this one is incomparable,this volcano left behind a huge mountain that contain the crater of that volcano on which the city of Adan in Yemen rests.
It was only when the English conquered Yemen and following the outset of the aviation that the world has discovered that Adan is located on the mouth of this volcano.
Moreover, With the advent of aviation by planes, it has been found that the city is really concave and just as the prophet told us , the English named the city "kraytar",and this was the common name that kraytar, later named Adan, was given.
It is noteworthy that none among the contemporaries of the prophet could ever dare to think that Adan was built on the mouth or the crater of a volcano, moreover; the prophet is talking about the concave shape of Adan.
In 1946, the British Royal Mission headed by professor I.G Gass, after finishing its study on the Adan's volcano , initiated its study saying " ….the present volcanoes are nothing but fireworks, if compared with Adan volcano.
Professor L.G Gass, in his study, goes on to compare the most famous Indonesian volcano that still takes up a large area in the human memory because when it erupted, in 1883, it aftermath is really beyond description; the toll of its victims exceeded 36.000 persons, its detonation went as far as 5.000km, its smoke and dust was so huge and rose high and the sun rays were debarred for more than a week , the island where the volcano happened went into pieces. Scientists estimate the power of this volcano as much as the explosion of one hundred hydrogen bombs. With all of these fearful description, the author compared Adan volcano with that of Indonesia saying:" It is just a kind of fire work if compared with Adan volcano."
In his study" Adan, the History and Civilization in depth" , Marouf Aqouba says:" Adan volcano is one of the six major volcanoes located on one line that extends from Bab Al Mandeb strait and ends at Adan. Some slight eruption, he adds, took place in one of these volcanic centers in the Bird Mountain" Gabel Al-Taheir" that faces Adan.
This volcano goes deep to where the rocks and metals such as iron and Nickel are in molten state. It is now believed that, when this volcano erupted, magma and lava gushed out forming a huge mountain in which the crater of the volcano resides under the city of Adan. This volcano will once again erupt but, at this time, it will be even much more stronger driving people northward to the place where people will assembly on the Doomsday .
The scientific facet:
The prophetic hadith says that the city of Adanis concave-shaped and this was supported by satellite pictures.
The prophet hadith talked about an extinct volcano that will re-erupt before the last hour.
It is known that most of major volcanoes are preceded by earthquakes. Scientists say:"Such earthquakescan be an early warning of volcanic eruptions."
So, in another scientific miracle, the hadith correlates between land sliding and volcanoes .So, where on the earth that culture that knew that there was such relation between earthquakes and volcanoes?
No doubt, It is God, Who informed him of these facts.
Al-Madinah Al-Manoura newspaper, Dr Mohummed Aly Al-Bar, number"16613"
When specialists on the nervous system wish to provide striking examples of the prodigious organization directing animal behavior, possibly the animals referred to most frequently are bees, spiders and birds (especially migratory birds). Whatever the case, there is no doubt that these three groups constitute a model of highly evolved organization.
The fact that the text of the Qur'an refers to this exemplary trio in the animal kingdom is in absolute keeping with the exceptionally interesting character that each of these animals has from a scientific point of view.
BIRDS: Birds are frequently mentioned in the Qur'an. They appear in episodes in the life of Abraham, Joseph, David, Solomon and Jesus. These references do not however have any bearing on the subject in hand.
The verse concerning the existence of animal communities on the ground and bird communities in the sky has been noted above: --sura 6 verse 38: "There is no animal on the earth, no bird which flies on wings, that (does not belong to) communities like you. We have not neglected anything in the Book (of Decrees) . Then to their Lord they will be gathered."
Two other verses highlight the birds' strict submission to God's Power. --sura 16, verse 79: "Do they not look at the birds subjected in the atmosphere of the sky? None can hold them up (in His Power) except God." --sura 67, verse 19: "Have they not looked at the birds above them spreading their wings out and folding them? None can hold them up (in his Power) except the Beneficent." The translation of one single word in each of these verses is a very delicate matter. The translation given here expresses the idea that God holds the birds up in His Power. The Arabic verb in question is amsaka, whose original meaning is 'to put one's hand on, seize, hold, hold someone back'.
An illuminating comparison can be made between these verses, which stress the extremely close dependence of the birds' behavior on divine order, to modern data showing the degree of perfection attained by certain species of bird with regard to the programming of their movements. It is only the existence of a migratory program in the genetic code of birds that can account for the extremely long and complicated journeys which very young birds, without any prior experience and without any guide, are able to accomplish. This is in addition to their ability to return to their departure point on a prescribed date. Professor Hamburger in his book, Power and Fragility, gives as an example the well-known case of the 'mutton-bird' that lives in the Pacific, with its journey of over 16,500 miles in the shape of the figure 8. It must be acknowledged that the highly complicated instructions for a journey of this kind simply have to be contained in the bird's nervous cells. They are most definitely programmed, but who is the programmer?
Allah the almighty says: O you who have believed, do not invalidate your charities with reminders or injury as does one who spends his wealth [only] to be seen by the people and does not believe in Allah and the Last Day. His example is like that of a [large] smooth stone upon which is dust and is hit by a downpour that leaves it bare. They are unable [to keep] anything of what they have earned. And Allah does not guide the disbelieving people[Q: 2:264].
Whenever the Prophet peace be upon him grieved due to any mishap, he would seek shelter in the prayer. He PBUH said, ‘Know that prayer is the best of your deeds.’ [Narrated by Ahmad]. Some doctors confirm that prayer protect against varicose veins, and rejuvenates blood circulation and reestablish the regulation of blood pressure in all parts of the body. Medical doctors say that a person who maintains his prayers avoids a lot of diseases such as osteoporosis and curvature of the spine. Prayer restores the body's vitality and regulates the body's internal operations.