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2155Riba (interest) Under the Guise of “Islamic ” Finance

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  • Iqbal Shaikh
    Apr 27, 2014
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      Riba (interest) Under the Guise of “Islamic” Finance

      INTRODUCTION

      [Extracted from Maulana A S Desai's foreword to Ar-Raddul Fiqhi]
      …Hitherto many Muslims outside Pakistan labour under the false notion that whatever Hadhrat Mufti Taqi Saheb proclaims on the subject of economics is the final word of the Shariah. This is indeed a thorough misconception. Hadhrat Mufti Taqi Sahib’s hybrid capitalist system of economics is littered with theories and concepts in stark conflict with the Shariah of Islam.
      In view of this diametric clash with the Shariah, the Hanafi Muqallid Ulama have been constrained into refutation and rebuttal of the personal opinions of Hadhrat Mufti Taqi Saheb. This decision is in consonance with the Qur’aanic exhortation tacitly conveyed to the Guardians of the Divine Shariah in the following aayat which was a stern reprimand and condemnation of the vile attitude of the Ulama of Bani Israaeel whose salient feature was concealment of the Haqq and confusing it to suit their mundane and egoistical (nafsaani) motives:
      “They (the followers) took their Ulama and Mashaaikh as gods besides Allah Ta’ ala.”
      The academic, moral and spiritual ta’leem and tarbiyat acquired under the Shadow of the Akaabireen Ulama do not permit the Muqallideen Ulama of the Haqq to remain silent observers of the erosion of the Shariah committed by the ravages of Ta’weel-e-Baatil (False and Baseless Interpretation) emanating from the fortifications of seniority. While seniority has to be honoured and its due dignity be upheld, it cannot be permitted its unbridled plunge into Baatil portrayed in the hues of the Shariah.
      It is with trepidation and tremendous pain in the heart that we feel impelled to embark on the unenviable exercise of hauling Hadhrat Mufti Taqi Sahib from the lofty pedestal he occupies in the Ilmi firmament of the contemporary Ulama. But when Haqq commands and constrains, then even juniors like us have no alternative other than to execute the Call and Command of guarding the Divine Shariah — a Call which emanates from the very Arsh of Allah Azza Wa Jal.
      Hadhrat Mufti Taqi Sahib has in recent years descended from his sublime pedestal of being one of the leading Ulama-e-Haqq, to pose as the champion of the capitalist cause adopted by fussaaq Muslim entrepreneurs in whose veins pulsate the blood of Riba. They have absolutely no truck with the Shariah. But, the name of the Shariah is indispensable for their pursuit of the establishment of financial empires along the lines of their kuffaar counterparts in the western world. Hence, inspite of their diabolical attitude towards Islam and their inveterate aversion for the man who dons the beard of Rasulullah (sallallahu alayhi wasallam), their lascivious and lustful nafsaani agenda compels them to consort with the orthodox type such as Hadhrat Mufti Taqi Sahib.
      While we are constrained to refute Hadhrat Mufti Taqi Saheb, we must mourn the loss from our ranks of, a wonderful Scholar such as Hadhrat Mufti Taqi Saheb whose moral and spiritual fibre has been gradually eroded and emaciated by his association, socialization and fraternization with the western enemies of Allah Ta’ala’s Deen— enemies who pose as Muslims, but whose inner souls reek of kufr and whose clean-shaven, western faces glaringly depict the nifaaq which their breasts conceal.
      In Hadhrat Mufti Sahib’s abdication of his Shar’i throne and in his refuge in the camp of the capitalists, we have undoubtedly lost someone who once upon a time was a citadel of Ilmi strength for us juniors. But this Decree of Allah Ta’ala is accepted, and it remains our heartfelt dua that Hadhrat Mufti Taqi Saheb returns to the fold of old -fashioned orthodoxy even if he will be branded a ‘fundamentalist’ and a ‘terrorist’. His home is not in the filthy five star hotels of the capitalists nor in the plush boardrooms of the devourers of riba. His place is the dusty floor of the humble Madrasah which subsists in the spiritual Shadow of the Madrasah of Suffah of Rasulullah (sallallahu alayhi wasallam)…
      “And on us is only to deliver the Clear Message.” (Qur’aan)
      The Protector of the Divine Shariah is Allah Azza Wa Jal. This assurance He categorically gives in His Qur’aan:
      “Verily, We have revealed the Thikr, and verily, We shall be its Protectors.”.
      Allah ta’ ala defends and guards His Inviolable Shariah and Deen even with the agency of juniors, when the seniors abscond from their stations of command, and if a stage develops when there are no longer even junior Ulama-e-Haqq left to protect the Deen, Allah Ta’ ala will harness even fussaaq to maintain the purity of This Divine Shariah. Thus the Hadith says:
      “Verily Allah Ta’ ala will aid this Deen with even a faasiq man.”
      But bear in mind that the fussaaq who will stand up as Defenders of the Deen will be men with correct beliefs. They will have the very same doctrinal Imaan which the Sahaabah expounded and held while their mundane life will be contaminated with fisq and fujoor. That is the unquestionable decree of the Creator. It is His Prerogative.
      [Maulana A S Desai]
      Mujlisul Ulama of South Africa, 1st Shawwaal 1426 2-11-2005