Today, when the people of the world have risen up to liberate themselves from the shackles of capitalism, their first target is that disdainful interest-based economic system, which has robbed them of their life’s savings and brought them on to the footpaths.
All are silent and mute. Nobody likes to talk or write about this issue. While talking about this subject, one feels as if all the ‘leading intellectuals’ analysts and economic experts of our country feel too shy to discuss it. Media of the whole world is loud and vocal in its coverage of these events, but complete silence prevails in the media of our country. People all over the world, honestly and consciously supported the interest-based economic system, but when millions, and in fact, billions of people were ruined, plundered, rendered homeless and helpless by this system, they were left with no option but to converge on the Wall Street (the global center of the interest-based economic system), in order to vent out their fury and frustration and register their disdain for it. Up to the present moment, they are still resolutely occupying the Wall Street, undeterred by violent winds, heavy snows, torrential rains and scorching heat. Such demonstrators are found in their tens of thousands not only in New York, but also in the economic headquarters of every developed country of the world, where interest-based economic system is operational. They have seen with their own eyes, the collapse of two major economic systems of the world in recent years.
Those who had hitherto been describing Adam Smith’s economic theories as a conspiracy of capitalism and document of slavery, suddenly began to discover in it, the sweet fragrance of democracy, human rights and secularism.
Almost two and a half centuries ago, people began seeing the dreams of an age, characterized by the rule of the labour class, decline of capitalism, abolition of private ownership, end of exploitation of workers by the capitalists and the creation of a society whose members would have no private properties. By writing his books ‘Communist Manifesto’ and ‘Das Kapital’ Karl Marx showed to the workers of the whole world, the dream of a unique society, having no state and no government, and free from all quarrels and disputes, because no one would have any private property in it. The communist revolution in Russia provided an excellent opportunity to practically implement the Marxist theories. But at that moment, Lenin realized that with all his fantastic dreams, Marx was living in a fools’ paradise, far away from the actual realities of life. Soon afterwards, a socialist state came into being, in the name of dictatorship of the working class. More than half of the world became the slave of this economic system, which was warmly welcomed by all those intellectuals, poets and writers, who hated God and religion in any form. Even in our own country, there was no shortage of such people who went on writing poems, stories, articles and books in favour of this system, besides hurling most vulgar abuses on the United States. Europe also had a sizable number of ardent admirers of this system, but they could not convince their people, because they were well aware of the miserable plight of the people in the Soviet Union and other communist countries in their neighbourhood. As a result, they remained loyal to capitalism, with its glamorous evenings, colourful nights and daily realities.
The collapse of communism was widely celebrated. After the demolition of the Berlin Wall, its stones were preserved in glass cases and sold as souvenirs. When the world was again caught up in the cruel clutches of capitalism, all those intellectuals, poets and writers, who hated God and religion in any form, fell prostrate before the United States and capitalism. Those who had hitherto been describing Adam Smith’s economic theories as a conspiracy of capitalism and document of slavery, suddenly began to discover in it, the sweet fragrance of democracy, human rights and secularism. But behind all these systems, there was a very powerful interest-based banking system, devised by the Jewish goldsmiths. If only a few years ago, you had said to someone that the economic system of the world could effectively be run without interest, he would surely have described you as an old-fashioned, conservative and ignorant person, incapable of keeping pace with the changing times and unaware of even the basics of economics. The leaders of our country and educated people were also not ready to believe that economies could be run without interest. For this very reason, when the Shariah Court gave its verdict against the interest-based banking system and called for its abolition, our then Prime Minister went to the Supreme Court and asked for some more time for this purpose. But Allah Almighty has strongly prohibited the taking of interest and has described the act of ‘Devouring usury’ as ‘an open declaration of war against Allah and His messenger.’ Prophet Muhammad (saw) never used for anyone else, the harsh and bitter words, which he used in condemnation of those who devour usury. He described such a person as similar to that who commits adultery with his mother. The abolition of interest is the most vital component of that global economic system, which can guarantee the welfare and prosperity of the whole mankind. Today, when the people of the world have risen up to liberate themselves from the shackles of capitalism, their first target is that disdainful interest-based economic system, which has robbed them of their life’s savings and brought them on to the footpaths. All over the world, they are chanting slogans against capitalism and describing democracy as one of the curses of this system. One of their most popular slogans (also printed on the posters) is ‘Let us bank the Muslim way.’ But none of the ‘leading intellectuals’ analysts and economists of our country is courageous enough to narrate all these things. All of them are of the view that man-made laws are best for man. However, those who believe in the truth of divine laws, have always asserted that God who is the Creator of all human beings, knows well what is best for them. But the problem is that now, no one is ready to admit defeat and no one is willing to submit to the Divine Will.