Channel: Sajid Ahmed Umar
This lecture is part of the lecture series titled ‘The Hajj – A Message for Mankind’ at Fanar Qatar.
Sheikh Sajid Extracts lessons and advices from the many advices that was shared by our Prophet Muhammad (saw) in the Farewell Sermon on the plains of Arafah.
Part 5 of the Lessons from the Farewell Sermon deals with the Preservation of our Economy, what zakaah is and why is Riba been made Haraam in Islam.
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Then we have the third lesson from the sermon. And that is the importance of the preservation of the economy. Allahu Akbar. Look at this, see how Islam is a complete way of life? Right? The sermon has lessons pertaining to you and Allah subhanho wa Taala. And you and the servants of Allah subhanahu, WA tada and you and matters of this world,
because you live in this world. So Rasulullah sallallahu alayhi wa sallam taught us in his sermon about the importance of looking after the economy. Verse in the sermon, he spoke against interest. And thus in the sermon, he spoke about Zakah because as we said, in our previous talk, Zakah and interest are not just moral obligations in Islam, right where with Zakat, we it's a pillar of Islam, which we have to follow, and interest is haraam that we have to stay away from Yes, this is true. But it's also an economical system.
Over and above being an obligation in terms of doing it and staying away from it. It's also an entire financial system. Because interest breeds debt, at a level faster than wealth creation. If I borrow money from you, and you lend it to me at interest, and the reason why I borrowed this money, so I can engage in some wealth creation, activity, right? When I borrow that money from you, for me to create wealth, I need time, as well as effort. But when you lend it to me with interest, then you only need time
for your wealth to increase.
So what I owe you is increasing at a rate faster than the wealth that I can create with that which you lent me. Right, you might have led me 10,000 reals, for example. Right? That has to go into my business. And before I can even strike a profit or even break even I might have to run that business for six months, or three months. Right? We know those were entrepreneurs. Yeah. And you have businesses, you know, a business doesn't run with the profit from the outset. Right? It runs at a loss, right? And then maybe in the third quarter, or the second quarter, or in month six, you break even and then you start gaining a profit. Right now you've created economical wealth, something
which has a proper impact on society. But by the time I've created this one real, what I owe you has grown so much.
My 10,000 has become 12,000. So the dead creation is faster than the one creation and this is not conducive to the community. That's the Sherry I came down and made Reba Hara and Rasulullah sallallahu alayhi wa sallam spoke about preserving the economy. In his farewell speech before Allah subhanho wa Taala took him to Allah subhanho wa Taala
does take heed of the servants of Allah, Take heed of the sentence Rasulullah sallallahu alayhi wa sallam said that the interest of our best Abdulmutallab is canceled in its entirety. And immediately
we Allah grant us the understanding, I wish we could go further. I'm very passionate when we talk about these matters of economics and so on and so forth. I have a master's degree with my master's degree topic was in treasury management from a Sharia perspective. And it brought great insights and benefit to my life in terms of my understanding of the laws of Allah subhanho wa Taala as well, and the appreciation of the wisdoms behind the laws of Allah subhanho wa Taala haven't been decreed for life today. We always thought that's the case and obligation, we never thought that it's a financial system as well to Panama, because the economist will tell you that when the rich share their wealth
with the poor, then all the segments in society can engage in buying and selling, not just one portion of society. And the more the merrier, right? If we have an abundant number of people in society buying and selling, then that by default will translate to an abundant formation of profit and wealth creation. The more people that engage in real activity, real financial activity, this leads to a greater profit creation, right. So when I was stipulated zeca, he shifting the wealth from the rich to the poor, so that all of the wealth is not sitting with a portion of society. Right. And this is what interest does interest sucks the money out of one sector, the real sector
and shifts it into the financial sector, because for the real sector to make money they borrow from the financial sector.
become slaves to the financial sector for the rest of their life. So we welcome sitting with one segment of society and this is not conducive to our creation. So allow us to shift it out. So he made the car compulsory so that 2.5% is moving is being shared within society number one and number two make interest Hara to a show that was worth doing go back to one particular sector. So Rasulullah sallallahu alayhi wa sallam teaches us about preserving the economy. And that's lesson number
three particular topic of just making sure you're not sleeping