Saturday, February 8, 2014

Why Cannot Muslims Untangle Themselves From Interest?

Interest has become an inevitable fact we are dealing with. Bank loans, credit cards, fixed deposits etc all are involved with interest where we either become the giver or gainer of interest. We are incessantly questioned that why Islam has prohibited interest if it has had a forecast on how the system will be in the future.

Capitalism originated under the European dominion years after the Islam was spread and practiced. Though the significance of capitalism during the initials periods were great progress, increased productions, utilizing the natural resources at national levels and improvised standard of living for the working ; today it has resulted in divided wealth where one part of the world starves while other has in excess. Todays' capitalistic society has originated from the basis of usury and monopoly which Islam has strictly prohibited in Islam, which clearly defines the incompatibility of Capitalism and Islamic ruling (Shariah). The development of capitalism from its early benign phase to present profoundly unfair phase was accompanied  by national loan, which led to the creation of banks. These  banks which provided loans in advance in return for some interest played an important role in the financial operations of a capitalistic society in which powers gradually have been transferred to these centers which are based on usury.

The current ruling system has vested the power to a minority of 0.01%, just 13 families and following them is 300their sub families, the Elites  who have the control of the rest, the masses.

Who and How is Interest / Usury Involved? 

Credit cards, bank loans and bank savings are all for those who are in the developing phases of their life. What phase and in what direction is this development for? This is a secular based life where people caught in the rat race in the vain search for the non-existent delusional happiness. The circle passes the following checkpoints; 
• work harder, 
• earn more and
• buy more things (luxurious life)

In order to achieve a good education which can open up more opportunities for a well earning job, people get involved into national loans which will have to be repaid with interest. On being employed there are taxes you will have to face along with loans you already obtained and you are again burdened with new responsibilities like a good house, car and also making sufficient savings for your retirement. Even when your income increases the expenditures and your range of necessities also varies which would include bigger and comfortable houses, throwing parties to match the upper class, LCD TVs' to an expensive home theater system, technological upgrades on your Televisions, mobile phones, car etc. One more manifestation of capitalism is the materialistic desires and consumerism which lingers sometimes as a disease in minds. 

The wages / income is insufficient to face all your 'compulsory requirements' and hence people tend to go for a loan again and those who have sufficient income to obtain credit card go for it. Now this is again a phase where people get tangled into the inevitable interest.  Everyone is in a pursuit for wealth and power, struggling within our suppressed level in the pyramid where the interest gives the delusion of being raised into a higher level but still we are under the rule of the wealthiest and powerful elites.

The Islamic Prohibition

Being a Muslim or non-Muslim it is the capitalistic rule that has power over the world now and we are all enslaved within this system. Overall this system where wealth is accumulated among the powerful ones and the workers are made to scramble for their rights to live and wages is not encouraged or allowed in Islam. Islam has taught a governing system of equality, the wages to the worker being paid in due amount in due time. There is also Zakath in Islam which is a compulsory tax among the rich to pay a part of their wealth for those in needy which has the prime focus of eliminating poverty and bringing equality within the society in means of wealth. 

As interest is only a requirement for this system to run, Islam has not in anyways have a ruling that encourages the system. There is basically no other advantage derived from interest rather than amassing wealth by the already powerful and stripping the workers off their legal wealth. If the current capitalistic ruling system is enslaving us in an unending race, debts and taxes are only a burden in the race the question now will be why should Islam allow this kind of system? Is not allowing interest an indirect license for the establishment of such monstrous systems?