Did you know that the prohibition on Riba is not uniquely Islamic? In fact, Judaism, Christianity, the Romans and Greeks, and Marxists were all opposed to Riba. Then how did it all change? Find out here.
The best way to understand riba is to see how IMF entangles a country. In order to payoff the loan, more loan is needed and it goes on and on till they start acquiring valuable assets owned by the state.
Thank you for such an informative lecture. I am a fan of you for your style of presentation. I have not read Mufti Taqi Usmani's book, but pardon me, you are only partially correct on his conclusion, which you present as representative of all the Muslims and Islmic schools. If we go by your narration of the passage ,what Taqi Usmani opines as permissible, depends on two factors ; 1.Declaration of the lender and 2. Sharing of loss too. Where as you ignored the second one while drawing your conclusions. Please ponder over ; if loss is also shared, does it remain "sood" even as per your definition? I totally agree with you that Muslims scholars are not correct while claiming exclusivity of Islam over sood ban. There is a nuance ; Islam is the continuation of the religion of Ingeel and Taurat and all ancient divine scriptures so to that extent we should give them allowance. Regards Ghulam Arif Khan Community Talking Platform- Mumbai -India.
In this exPlanation, sorry to say but sir Taimur only read mufti sahib’s text correctly but totally Misinterpreted it . Investing in other’s business is not wrong if you shares both profit and loss .
@@nisaryasin3111 thk ha ap ye bataen Al Ahsan kya ha? Larzay Hasana kya ha ? Ap os banday k business main sharqat kri KR rahay haen Jo zroratmand ha or ap larzay Hasana ke Jaga ab es ke bidad paida KR de hai.its an ethical question , or mufti taqi Usman hujatay Islam nhi.
سود کا سادہ سا معنی یہ ہے کہ آپ نے قرض دیا اور اب اس رقم پر اضافی رقم بھی واپس لیتے ہیں یہ ہے سود ۔ جو کہ حرام ہے ۔ اور تقی صاحب نے یہی بات لکھی ۔ جب کہ دوسری بات جو انہوں کی ہے کہ بزنس کے لئے دیا جائے تو اس پر منافع لیا جا سکتا ہے ۔ تو اگر آپ آخر عبارت کو دوبارہ پڑھےتو سمجھ آجائے گی کہ وہ مضاربہ یا مشارکہ کی بات کر رہے ہیں جس میں رئیل بزنس ہوتا ہے ۔ اس میں نقصان اور فائدہ دونوں ہو سکتا ہے ۔ اس لئے انہوں نے لکھا ہے کہ نقصان بھی برداشت کرنا ہوگا۔ یعنی کہ ایک نے دوسرے کو رقم دی کہ اس سے بزنس کرو اس کے بعد اگر اس بزنس میں فائدہ ہوتا ہے تو وہ تقسیم کیا جائے اور اگر نقصان ہو جائے تو وہ بھی برداشت کرنا ہوگا ۔ اب آپ ذرا قرض کو دیکھ لے ۔ اس میں نقصان کو سوال ہی نہیں ہوتا کیونکہ اس میں اصل رقم قرض دی جاتی ہے اور اس پر منافع لیا جاتا ہے اس کا کاروبار سے کوئی بھی تعلق نہیں ہوتا۔ چاہے اگلا مرے جئے خوش ہو راضی ہو یا اداس اس نے اصل قرض کی رقم کے ساتھ منافع بھی دینا ہے ۔ جب کہ کاروبار میں ایسا نہیں ہوتا ۔ کیونکہ جو رقم دی جاتی ہے وہ قرض ہوتا ہی نہیں ۔ اور پھر نفع تب لیا جاتا ہے جب نفع حقیقت میں ہوا ہو۔ اور اس میں نقصان کا اندیشہ بھی ہوتا ہے ۔ اس لئے آپ یہاں دو مختلف چیزوں کو مکس کر رہے ہیں ۔ جس سے یہ بات ثابت ہوتی ہے کہ آپ ایک تو اسلام کے مخالف ہے جیسے آپ نے ویڈیو کے ابتدا میں ہی کہہ دیا کہ اسلام کیا کہتا ہے اور ہم کیا کہتے ہیں ۔ اور دوسری بات یہ ثابت ہوتی ہے کہ آپ کو اسلام کے معاشی نظام کا کوئی علم نہیں ۔
مولانا تقی عثمانی کی نیت پر شک نہیں لیکن مولانا حلال سود کر گئے۔ جبکہ مولانا تیمور بھائی آپ نے بہت واضح اور روشن طریقہ سے حق بیان کیا۔ حقیقت میں مولانا آپ ہیں۔ اللہ آپ کی عزت میں ، رزق میں، علم میں مزید اضافہ فرمائے
وہ اس لیے بھائی جان کہ مفتی تقی عثمانی کا بینک الفلاح اپنا ہے جو افغانستان میں سوویت یونین اور امریکہ کی جنگ میں تحفہ میں ملا ۔ مولانا کو ضیاء دور میں کھلم کھلا پروموٹ کیاگیا تاکہ ایک ایسا مولوی لایا جائے جو مفتی اعظم بھی ہو اور سود کو بھی اسلام میں داخل کر دے مولانا نے ضیاء حکومت کے دوران سود کو نفع و نقصان کا نام دے کر جائز کیا۔۔
Great. I respect your position and the way you present complex issues in wasy to understand way. I am an Islamist, not a socialist at all, rather anti socialism. I am a bit disappointed over the public comments defending Mufti Taqi Usmani's position of Islamising the Capital Finance. Mufti Sb. has made it possible for the West and whole world to use the money of a segment of market (hardline Muslims) in Capitalist banking system, which segment was adamant not to invest in banking cuz its based on interest. These Islamic banks use arabic terms to Islamise conventional banking/insurance etc. in the name of Takaful etc. Allah hidayat de.
باقی آپ کا مکمل لیکچر بہت مفید اور قابل سماعت ہے باقی غلط فہمی کا ہوجانا انسان ہونے کی دلیل ہے۔ اللہ آپ کے علم و عمل میں رحمت و برکت کے سمندر رواں فرما دے آمین باقی آپ کے آنے والے لیکچر کا میں شدت کا انتظار کیے ہوں آپ کا خاموش سامع ہوں آج کچھ خاموشی بوجہ ضرورت توڑی ہے
Sir When I listen to you I actually find many answers with logical reasons I have watched economist channels which are very few in the whole world perhaps your channel is only in Urdu, thanks for this info This will never find across the world.
Bohat acha lecture tha. Mgr yeh batayen ke loss profits sharing mechanism interest kese hogaya???? I guess misinterpretation ki hai ap nay yahan Mufti Taqi ke opinion ki.
24:30 taimur saab great intonation. I am very inspired by your enthusiasm while reading Karl's quotes, you also retain the that entertaining touch. The way you have expressed the phrase "khoon choosta hay" pretty much sums up the spirit of the vlog. Very informative lecture too. .
Sir, you forgot to mention the last part in the passage of taqi usmani, i.e. the sharing of loss. Os me to sood nhi rehta q k sood me loss ka risk hi nhi hota. Taqi usmani jo keh rhe the wo aesa hai jede koi business ker rha ho aur me business k liye ose pese de don, aur phir profit ho to profit share ho aur agar loss ho jaye business me to loss bhi share hoga. How this can be said to be interest?
@@afaqjabbar8800 There is no business left to take over if you default on a loan. Regardless , I don't see the issue with a bank expecting their money back as long as the business owner understands what they are signing up for before they take loan. You don't have to take the loan and nobody is being taken advantage of.
سود انسان کی تباہی کا باعث بنتی ہے میں جب بچہ تھا تب سود سے محض اسلئے نفرت کرتا تھا کہ یہ اسلام میں حرام ہے لیکن جب مطالعہ کیا تب سمجھ آیا کہ سود کو خدا نے کیوں حرام کیا ہے، سود کی بجائے اگر ریاست ٹیکس کا نظام ختم کریں اور صرف امیروں سے زكوۃ لے تو امیر اور غریب میں فرق ختم ہوجائےگا بیشک اسلام ایک بہترین اور مکمل نظام زندگی کا ایک مکمل دین ہے
Aisa lag Raha hai jese khutba sun Raha Hun... Mashallah behtreen.. mimber ki jagha app jese log hone Chahiye... Ta k parhay likhe log waqt SE pehly mashido meh ayein
What Taqi usmani highlighted is not what you have mentioned, he here mean to say that you can get surplus for exchange of money to a person who is running a business or simply you can invest on business of someone else and you have right on that surplus .
Zabardast Taimur sb, I thought you were only economic expert, but after watching this video you have gained unlimited respect in my heart. Islamic banking is just like drinking alcohol with the coke label on the bottle and assuming that we are drinking coke.
@@hilalmir5173 all Islamic banking, including Maulana Taqi Usmani's fatwa banking, are essentially the same as conventional bank interest. calling bank interest as "rent" and compound interest as "charity." Additionally, that most of their rent prices are based on Kibor, an instrument in Pakistan that determines the rate of bank interest. We should stay away from any kind of loan.
@@salmanfaruqui6071 U are right except for using the term "Islamic" with banking. When we know it not Islamic ,how can we still describe it as Islamic.
"These banks are clever thought of jews. These banks take away light of virtue from the heart of human. Until and unless this system is not destroyed, the talk about wisdom,civilization and religion are meaning less." - Allama iqbal
I dont know about the other sources and interpretations however being a student of Islamic Studies the Islamic part is somehow misunderstood because there are two ways to give money to others (1) Lending money without returnt. in this case captal will be guaranteed and lender cant charge any profit from the borrower but (2) in second way that will be investment and partnership so, in this case capital will not be guarnteed and only finacier will take profit if it is incureed in business. Also he has to bear the loss. Respected Taimoor SB considered both options as lending borwing that is not right. Regards Abdul Rauf
While discussing Taqi Usmani sahib's opinion, Mr. Rahman did not put proper emphasis on the sharing of loss. In an Islamic transaction, the borrower not only shares the profit, but also has to bear the loss, if there is any. This is in contrast to the money lent by banks: regardless of gain or loss, the bank will demand a higher amount. Mr/Dr. Rahman would serve us better if he strongly emphasizes this point.
Thank you sir for your efforts in making us understand these concepts. A book by John Perkins "Confessions of an Economic Hit Man" also explains modern day Riba strategy of powerful countries. Stay blessed
Modern economy cannot work without interest ….. even Saudi Arabia charges and gives interest! Long time ago when religion came there was no banking system!
Dr sahib good analysis. But with due apology, it’s not the complete integrated picture. To understand the Ribah in todays world you would have to study following three things: 1) Fiat money, launched again on July 17 1971, 2) Fractional Reserve Banking model of today, 3) concept of property and property rights.
Very Informative !!! Kindly Do more videos on on Islamic Banking . It will be great to see U sitting with Mufti Taqi Usmani or Doctor Asad zaman discussing on the topic of "Islamic Banking" or "Interest free banking"
we love you man!!!!! this is an eye opener, though I'm not sure if Taqi Usmani's extract means what you concluded. It seems he is saying the lender bears both, profit and loss, it will be interesting to see 1) if he suggests that the principal remains intact even if the debtor suffers heavy losses and cannot repay the principal , let alone pay the agreed interest, and 2) whether the expected return is predicted to the principal amount or share in the profit.
Well explained with references of religions and intellectuals, Great work Kindly make a separate Vlog reading Islamic banking and to invest in their projects/shares Thanks
Thanks: such type of knowledge based speeches be delivered in Juma prayers. Alas our leading imams be so knowledgeable. If not to begin with DHA/ Bahria/ EME / Ghulburg etc admin should give this topics to imams for delivery in mosques on Friday prayers. This will reduce religious tension as well.
First of all this is really good. I really wish if Dr. Sahib can expand on what is his position when it comes to Riba? It seems that it something abhorred by all historically. But now it is a prevalent system and it’s seems we have no substitute system that is interest free and works at large scale. I have seen systems like credit unions etc that provides interest free micro financing. But it does not have capacity to finance projects, houses etc.
Very nice video. I have 3 questions: 1. Do you think rent-seeking on land especially agriculture land is also usury? (given that much of the land in the world is stolen/conquered by the landlord) 2. Why would someone give you a loan since there is always a risk that borrower will not pay back? What is the alternative model. 3. What about inflation adjustment? Since currency value always decreases with time in the current capitalistic system
currency value decreasing is one of the side effect of interest based economy, because it can only survive on fiat currency model which is our current system , Non interest based economy is based on currency which has intrinsic value eg gold or silver, since fiat currency does not carry any intrinsic value, thus in return increases infatlion
very good questions I hope taimur Bhai answer them.... if he has not already in another video.... about 3rd , I would say may be for inflation purpose you can give loan in shape of gold or another thing that you think is more stable and inflation would not affect that... I think giving loan in gold and asking for an equal amount of gold is halal
I learned a new word in Urdu, “biddat” known as Heresy. Editing was a little choppy but beggars can’t be choosers. We are getting free online lectures. I want to know how did they tackle inflation back then? Thank you
Taimur Sir how Pakistan can run without interest in current scenario? Do you have any solutions or recommendations? If yes , please make a video on that briefly.. Thanks
V.simple qarze hasana...sadaqa etc. Share ur money wd da society n spend da money not...store da money...money storage is un natural islam gives a full model of economics and finance.
By sharing in management for profitable business. By sharing in business as partners rather than charging profit without doing any effort is prohibited. So share and a Participate in production, hence society economy will grow. After practically sharing you earn rather than snatch or Robbing the debtors.
Sir, I believe their is good difference b/w a inflation incorporated percentage then Interest (as you mentioned in your lecture/ Quran). It's better that we should speak out on real issues then bookish issues. Looking forward for your comments. Regards, Sajjad.
Why are you confusing clear distinction between interest and profit through partnership? If I lend money to a business and fix an interest regardless the business is in loss or profit is prohibited. on the other hand, If I lend a business on terms that if business is making a profit, I'll have a share in it, and if the business goes in loss, I'll have a share in loss as well. how difficult is it to understand? Now where it says that the only distinction between halal and haram is just the Niyyat or intention.
آپ نے تقی عثمانی صاحب کی جہاں بات کی آپ نے بات پوری بیان نہیں کی کیوں ؟ اس میں پوری بات یہ ہے کہ اگر کوئی شخص کسی دوسرے شخص کو کمرشل غرض سے دے رہا ہے تو لینے والا شخص اس رقم کو کاروبار میں استعمال کرے گا اور اس کاروبار میں سے نقصان اور نفع کا تعین کیا جاتا ہے ایک معاہدہ کے تحت ۔
Yani agar koi shakhs sari Zindagi mehnat mazdoori kar k Kuch lakh rupe saving kare or phr old age me jab k us me na energy ho na karobari tajarba to apni jama poonji Kisi ese businessman ko gift kar de Jo us k peson se khud to profit leta rahe or loss us k account me dalta rahe very smart.
He has made a fundamental mistake here and should rectify it. The way he is saying that mufti taqi usmani has made riba halal is just nonsense, and a professor of your caliber should have done some research behind islamic finances.
@@afaqjabbar8800 Sir ZULM mat kejye Bat sirf paisa deny sy qabl declartion ki nahi Madad ki niat sy deny wala profit/loss sy mutasir nahi hoga Jab k Karobar ki niat wala profit/loss ka brabar zimidar hoga Agar profit hy tu profit lega agar loss hy tu wo nuqsaan ma hissydar hoga
Value increase is Riba. so if someone gives a loan for a year at an inflation rate (CPI) then it must not be considered Riba, which means that protecting time value of money is not Riba or injustice to the borrower in any sense of economics.
You have misunderstood Molana Taqi Usmani point of view. If a person is giving loan to someone with the intention that the businessman will give him profit or loss based on business activity then this is not interest, in this case he is sleeping-partner. On the other hand, if one person give loan to someone for personal matter not for business then getting extra money will be regarded as Riba. That in another thing if borrower use this money for personal use or use it to do any business, but he is not liable to give any extra money to Principal as it was not agreed earlier.
Very well explained. I loved the way your expression changed when you said "Karl Marx ne condemn kiya".Your expression remained same while taking names of Plato, Aristotle etc. But when you took Marx's name your eyes opened wider & there was a hidden smile. Actually this happens with every Communist,more specifically with every proud Communist when they utter words like Communism,Socialism,Leftism or take names of Marx,Lenin,Che Guevara(my real-life hero),Mao,Fidel,Ho Chi Minh.
مولانا تقی عثمانی نے ان لوگوں تقویت دی جو شریعت کو جدید تقاضوں کے مطابق ترمیم چاھتے ہیں۔ تیمور صاحب آپ کی وضاحت صرف مسلمانوں تک محدود نہیں بلکہ تمام مذاھب کا نچوڑ یہ ھے کہ سود ناجائز ھے۔ الله آپکواجر دے۔ آپکا یہ پیغام میں اپنے حلقہ احباب میں پھیلانا فرض سمجھتا ھوں۔
Thank you and I appreciate your efforts. My question is any society eliminate the interest how can control the money supply or monetary policy without interest.
You should have mentioned Sheikh Imran Hossein's work about Islamic Economics, he is more attuned to financial opinions as his expertise lay in that domain.
@@pankaja7974 For us Muslims, Yes! We follow the Qur'an and the Hadith as they are the core pillars of our faith. They clearly lay out principles of economic and political systems. There are clear injunctions demonstrating how to attune our daily lives in accordance with those principles. Our economic and political system is not far from flaws, yes, there are absolutely numerous shortcomings, but the inchaote 'Islamic system' we have in our country, be it in a damaged form, we would like for it to remain as it is. with the hope that we fix those flawed and fraudelent systems.
That are called “Shirkat” and “Muzarabat”, which is quite clear in understanding but you named it “Ain-e-shariat” and creat ambiguity in its meaning. Mufti Taqi Usmani never used the word ain e shariat. You extremely misrepresented the concepts, about which Mufti sahib writes and that are shirkat and muzarabat.
According to ray dalio if you didn't add interest to your economy so it will take alots of time to build it while if you add interest to it so it will grow up rapidly. for further explanation of this reference you can watch Ray Dalio's " how the economy machine works" video on his yt channel. please put some light on it as well maybe you get something which i missed thankyou sir 😌
Your lectures area great source for illumination of my thoughts. I am great fan of yours . Particularly, after listening i have started to understand in the philosophy of Karl Marx in true letter and spirit. Jazak Allah Sir. I desire to meet you some day,
Dr. Sahib, the topic is of immense importance and requires full justification in order to make the people understand what is ribba or interest in fact. I am still at loss to understand how do you define it. Is it a surplus value or any increase one receives over and above the money he lends? Further you have talked in historical perspective when the money was either in kind of gold or silver with intrinsic valve. How to deal with paper money keeping in view inflation and other market forces?
