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Generating…. Generating…. In International In International Debt Debt …………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………… A presentation by year 11 pupils of Al A presentation by year 11 pupils of Al Hijrah School: Hijrah School:
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Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Apr 01, 2015

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Destini Dominy
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Page 1: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Generating….Generating….

In International DebtIn International Debt…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

A presentation by year 11 pupils of Al Hijrah School:A presentation by year 11 pupils of Al Hijrah School:

Ayat Hawash, Imman Al-Azzari, Junaid Hussain and Siam HafeezAyat Hawash, Imman Al-Azzari, Junaid Hussain and Siam Hafeez

Page 2: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

POVERTY!…..WHY?POVERTY!…..WHY?

DEBT is one of DEBT is one of the most the most

pernicious causes pernicious causes of of povertypoverty

CAN MUSLIMS HELP TO CAN MUSLIMS HELP TO OFFER A SOLUTION ?OFFER A SOLUTION ?

Page 3: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Debt and Granting TimeDebt and Granting Time

““If the debtor is in difficulty, If the debtor is in difficulty, then delay things until then delay things until matters become easier for himmatters become easier for him; still, if you were to write ; still, if you were to write it off as an act of charity, that would be better for you, if it off as an act of charity, that would be better for you, if only you knew.” only you knew.” (Qur’an: Chapter 2: verse 280)(Qur’an: Chapter 2: verse 280)

““Alms are meant only for Alms are meant only for the poor, the needy,the poor, the needy, those those who administer them,who administer them, those whose hearts need winning those whose hearts need winning over, to free slaves and hover, to free slaves and help those in debtelp those in debt, for God’s , for God’s cause, and for travellers in need. This is ordained by God; cause, and for travellers in need. This is ordained by God; God is all knowing and wise.” God is all knowing and wise.” (Qur’an: Chapter 9: verse 60)(Qur’an: Chapter 9: verse 60)

Page 4: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Wealth is a trust from God. Wealth is a trust from God. Forgiveness – at the heart of IslamForgiveness – at the heart of Islam

“ “Those who have been graced with bounty Those who have been graced with bounty and plenty should not swear that they will and plenty should not swear that they will [no longer] give to kinsmen, the poor, & [no longer] give to kinsmen, the poor, & those who emigrated in God’s way: those who emigrated in God’s way: let let them pardon and forgivethem pardon and forgive. .

Do you not wish that God should forgive Do you not wish that God should forgive you? God is most forgiving and merciful.” you? God is most forgiving and merciful.” (Qur’an: chapter 24:verse 22)(Qur’an: chapter 24:verse 22)

Page 5: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Faith in ActionFaith in Action

““The best of you is he (or she) who The best of you is he (or she) who

brings most benefit to others.”brings most benefit to others.”

(Prophet Muhammad - peace be upon (Prophet Muhammad - peace be upon

him)him)

So, what benefit is the wealth of our So, what benefit is the wealth of our

societies bringing to the world’s poor?societies bringing to the world’s poor?

Page 6: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

SelflessnessSelflessness

"Whoever goes to sleep on a full stomach "Whoever goes to sleep on a full stomach while his neighbour goes hungry is not a while his neighbour goes hungry is not a true believer.“true believer.“Prophet Muhammad – peace be upon Prophet Muhammad – peace be upon him)him)

Which human being -suffering in Which human being -suffering in poverty - does this universal poverty - does this universal teaching exclude?teaching exclude?

Page 7: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Debt: starting points for a MuslimDebt: starting points for a Muslim

Grant more time.Grant more time.

Better still, forgive the debt.Better still, forgive the debt.

Remembering God Almighty owns Remembering God Almighty owns everything. He is the Giver of everything. He is the Giver of wealth….and wealth, like poverty, is a wealth….and wealth, like poverty, is a test!test!

Page 8: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Islam and Debt: Other approaches?

Muslim countries helped to cause the problem (petro- dollars filling banks which then recklessly lent to poor countries)

Yet, many of the world’s poor are Muslim

Can Muslims be part of the solution?

Page 9: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Root cause of debt crisis…riba

Interest exacerbates debt.

The capital repaid….but poor countries are still drown ing in debt!

Health care? Infrastructure? Education? If only …….

Page 10: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

WHAT ISLAM SAYS…WHAT ISLAM SAYS…

“O you who have believed, do not consume usury, doubled and multiplied, but fear Allah that you may be successful.”

(Qur’an: chapter 3: verse 130)

“God has forbidden you to take Riba, therefore all riba obligation shall henceforth be waived. Your capital, however, is yours to keep. You will neither inflict nor suffer inequity. …..”

(Prophet Mohammad, peace be upon him in his farewell sermon)

Page 11: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

WHY NOT SHARE RISK ?WHY NOT SHARE RISK ?

Page 12: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Justice in profit and loss

Share the risk –

Islam requires the creditor and the debtor to

share the fruits of success and / or taste the

bitterness of failure!

An antidote to reckless lending!

Page 13: Generating…. In International Debt ……………………………………………………………………………………………………………………………………

Where from here????Where from here????

All faiths teach mercy and forgiveness.

As 1/5 of humanity, Muslims have a duty to share their teachings which could help free our poorest neighbours from poverty.

So, let us stay focused! Let us keep demanding: drop the debt!