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Islamic Banking: True Modes of Financing PDF Print E-mail
Published by Abdul Ghani   
Tuesday, 07 August 2012 09:59

 

By Dr. Shahid Hasan Siddiqui,

Eminent Pakistani Banker & Economist

Introduction

Prohibition of interest is ordained in Islam in all forms and intent. This Prohibition is strict, absolute and unambiguous. The Holy Qur'an in verse 278 of Surah Al- Baqarah states:
"O ye who believe! Fear Allah and give up what remains of your demand for riba, if ye are indeed believers." and verse 2: 279 says "If you do it not, take notice of war from Allah and His Messenger. But if ye turn back, ye shall have your capital sums. Deal not unjustly and you shall not be dealt with unjustly."
It therefore, follows that interest is prohibited as it leads to injustices (zulm) and
Islam is against all forms of injustices and exploitations and pleads an economic system, which aims at securing extensive socio-economic justice. The Islamic law of prohibition of riba, which includes interest, was originally not based on economic theory but on Divine Authority which considers the charging of interest as an act of injustice.
 
Wealth in Islam PDF Print E-mail
Published by Abdul Ghani   
Wednesday, 13 June 2012 10:48

L yulyadi Arnakim

In Islam, Muslims should not put wealth above everything,especially the sustainer, Allah WEALTH IN ARABIC is al-glwi a, which means "no needs or needs less", and wealthy is known as al-ghaniyu, which means "self-sufficient", one of attributes of God. As Allah said, " To Him bel ongs all that is in the heavens and on the earth: for verily God - He is free of all wants, worthy of all Praises" (Quran: 22:64). In another verse (Quran: 6:133), Allah said, "Thy Lord i s self-sufficient, full of mercy..." From the above verses, wealth in Islam basicall y con sists of two elements of life; physical and spiritual. The first dimension depicts the possession of material things, which i s known as maal ( pl ural: amwaal), which means "property, assets or whatever mankind possesses". The spiritual dimension refers to knowledge and virtue that reside in the soul of man.

 
Liberal Islam - The Indonesian Experience PDF Print E-mail
Published by Abdul Ghani   
Tuesday, 12 June 2012 11:45
Adnin Armas

Before elaborating on the liberal ideas of Indonesian Muslim, it is worth to note that the secularization and liberalization of Islam is not geographically confined to Indonesia. As will be proven, the sources of secular-liberal ideas are not independent of the hegemony of western secular-liberal worldview. Applying an alien worldview and epistemology, the Liberal Islam Network (Jaringan Islam Liberal) activists formulate secular-liberal ideas which deify Man and humanize God, equate religious truth with esoterism, deconstruct the Uthmanic Mushaf and the shariah. They promote a new paradigm shift to replace an existing one. Before delving further, it is worth to begin with the meaning of Liberal Islam.

 
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