Dec 17, 2016 10:49 UTC

One of the principled policies of Islamic economy is to dispel any possible harm against it.

Although the divine religion of Islam recognizes private ownership, it strongly stands against plagues which can turn a healthy economy into the scene of illegitimate rivalries. It can be said that the main ominous phenomenon in this scene is usury. This ominous approach can lead to establishment of a culture of injustice, and the daily accumulation of illegitimate wealth. The danger which usury poses is that the related individual, via sole reliance upon his wealth and without any beneficial effort, can further deprive the needy and accumulate further illegitimate wealth on a daily basis. In condemnation of usury, Islam has named usury a major sin.

The 278th and 279th ayahs of Surat Al-Baqarah note: “O you who have faith! Be wary of Allah, and abandon all claims to what remains of usury, should you be faithful. And if you do not, then be informed of a war from Allah and His apostle. And if you repent, then you will have your principal, neither harming others, nor suffering harm.”

God Almighty, in order to prevent usurers from violating the rights of the needy, and to prevent their access to illegitimate assets; has threatened them with an eternal punishment that awaits them on the Day of Resurrection.

The 275th ayah of Surat Al-Baqarah notes: “… As for those who resume usury, they shall be the inmates of the Fire, and they shall remain in it forever.”

The Prophet of Islam, who was inspired by Holy Quran, stood firm against the unwanted phenomenon of usury and presented many guidelines in condemnation of the unjust approach of usurers.

In the view of Prophet Mohammad (Blessings of God upon him and his progeny), throughout cultural, political, economic, and social abnormalities, the main agents are not the only sinners. All individuals who take part in these abnormalities and are directly and/or indirectly involved in these abnormalities are held accountable before God.

Thus, based on a hadith; cited from the Prophet of Islam: God denies His kindness to an aware usurer, and witness to usury.

Based on this hadith, if communities would not welcome the bribery system of banks and major trade centers, the unjust culture of usury would not govern the economic relations of nations.

Therefore, the Prophet of Islam, in a hadith, refers to the role of all of the community’s strata and notes: Everyone should feel responsible; including those who maintain key posts, and those who are managed by them.

The ominous consequences of usury include accumulation of wealth; imposition of injustice on the needy; formation of class gaps; destruction of the culture of production; uproot of social justice; and undermining of ethical and human emotions. There have been many individuals and nations who have lost all of their assets, and have fallen into the abyss of poverty; depriving themselves from a calm and peaceful life, for good, due to resorting to usury.

Another abnormal phenomenon which threatens the health of community’s economy is bribery. This unwanted phenomenon weakens resolves, harms rules and regulations, and sets the stage for access to illegitimate interests. In the meantime, those who do not want to pay bribes and to bypass the law; in an effort to achieve their legitimate goals, either do not fulfill their goals, and/or may reach minimal legal rights after tolerating countless hardships for several years. Hence, bribery is an unwanted phenomenon which deals a heavy blow to the health of economy and healthy economic relations.

The Prophet of Islam, in order to stand up against this unwanted phenomenon, mainly focuses on those, who maintain sensitive and key posts. For instance, Prophet Mohammad notes: “Receipt of gifts by a governor of a community, and acceptance of bribes by a judge is tantamount to disbelief.”

The important point which captures the attention in this hadith is that a group, in order to somehow justify their bribery, renames bribes as gifts, in a futile bid to cover up the ugliness and evilness of bribery.

A sensitive post that could possibly promote the culture of bribery is the post of arbitration. A few judges, upon accepting bribes, display righteousness as falsehood and impose injustices as if God is not watching them and/or there is no Day of Resurrection. Meanwhile, if bribes are offered by the symbols of power and wealth, such measures lead to the protests of the vigilant individuals. For instance, one can refer to the mass slaughter of Yemeni children by Aale Saud. The Saudi regime, upon threatening to end its support for UN, and upon paying bribes, obstructed its condemnation by the UN chief.

The Prophet of Islam notes: “The briber, one who receives the bribe and the go-between of these two are all damned by God Almighty and are denied of God’s kindness.”

One of the other important and fateful factors that can deal a major blow against the health of any community’s economy is the misuse of treasury and/or national assets.

The national treasury of countries should be mainly allocated for materialization of public interests. However, a group of individuals, especially those, who intend to accumulate wealth, may pillage public assets; trampling upon the rights of disadvantaged strata, while accumulating huge wealth for their own families and associates. One of the prime examples of this case is the Aale Saud.

The London-based daily, Independent, in its latest report notes: Abdul-Aziz bin Fahad, the youngest son of the Saudi Dynasty has established a secret empire for himself in the US. Based on this report, the Oil Giant, British Petroleum, is part of the wealth of this Saudi prince. He is also the owner of fifteen complexes in nine US states. He doesn’t hold a governmental post, as such, but, his wealth stands at billions of dollars.

Aale Saud, via the pillage of the huge oil deposits of the oppressed Saudi nation, has accumulated astronomical wealth.