Economics of the Islamic State (Government)

Contemporary Fatawa, Economics, Fiqh

Q. (i) Does the interest on loans floated by the Government to meet national requirements come under Riba?

(ii) What alternative can be suggested for the banks in case they grant loans without interest for various requirements?

A. (i) Yes the Qur’anic injunctions regarding the prohibition of interest is general. The interest is prohibited both in the public and private sectors and for all types of purposes. Any excess payment made over and above the principal amount is Riba and is thus Haraam. For more details see the answer to the question (1).

July 26, 2010

Importance of Aadaab

Chapter 05 - The manner of performing Hajj, Dawah & Tabligh, Virtues of Hajj (Fazail e Hajj)

Hazrat Shah Abdul Aziz saheb (Rah) of Delhi; the famous scholar of hadith and tafseer; says in his commentary of the Qur’an ‘Fathe Azizee’: ‘Whosoever deals lightly; and discards, the aadaab of any duty shall be deprived of the sunnah by way of punishment, and whosoever thinks lightly of the sunnah and discards it shall be deprived of the obligatory duties (Fardh) by way of punishment, and whosoever deals lightly with obligatory duties shall as punishment be deprived of the true knowledge and recognition of Allah’. The above quotation is a reason why we find in the hadith that a verdict of kufr (disbelief or rejection of faith); is given against some people, because disregard of proper procedure in action leads to it. In the light of this it is deduced that importance of following the proper etiquette and aadaab of any Islamic injunction is necessary. Should one be forced to neglect any etiquette for a special reason; then there shall be no blame attached to that; although one should never loose the sight of the importance of that point. Under no circumstances should such action be left aside willfully as if it is of no consequence. The Ulama of Islam have divided the duties of a Muslim into various stages of importance, and with great care did they preserve and compile them. Careful study of these compilations and to seek and avail oneself of the company of the learned ones will bring all these things home to us. Here I only wish to mention some of the aaddaab of Haj in broad outlines.

November 18, 2009

Islam accepts Modernism

Beliefs & Practices, Chapter 02, Islam & Modernism

Under the present circumstances proper line of action for us is that in the pursuit of industrial revolution we should not blindly march on the path that has carried the West to the brink of total destruction. The industrial revolution will give rise to many difficulties and new problems, which will be resolved under the Islamic guidance and this solution, will be free from the defects of the Western thought. Rather, we should acquire science and technology with deep insight and open mind in a manner that Islamic values are not injured.

August 16, 2008