2. Riba(interest) was prohibited in both Judaism and
Christianity long before Islam.
The Qu’ran is just re-stating what the two previous
Holy Books have already mentioned.
In fact, many of the economic principles in Islam
can be traced back through the Holy Books to the
messages expounded by Jesus (p.b.u.h.) and Moses
(p.b.u.h.).
3. God sent down His message at three different times
in history to humanity through the messengers
Moses (p.b.u.h.), Jesus (p.b.u.h.), and Muhammad
(s.a.w.). Moses delivered the message in 1525 – 1405
BC, Jesus in 4BC – 30AD, and Muhammad in 570 -
632 AD.
The deliverance of these messages through different
messengers at different times in history was not
meant to divide the believing people, however,
believers should be unified through the stories of the
Book, which correspond and correlate with each
other in terms of events, characters, and messages
and is in fact a continuation of the same story
through different periods of time and history.
4. He has ordained for you in the Faith what He
had enjoined upon Noah and what We have
revealed to you and what We had enjoined
upon Abraham and Moses and Jesus, saying:
“Establish the Faith, and be not divided in it”
(Qu’ran 42:13).
5. The core concept in Islam and Islamic finance is
Risalah, which entails to heed all of God’s
messengers equally and without
differentiation.
Currently, Islamic finance is solely based
around the teachings of Prophet Muhammad
(p.b.u.h.).
6. By failing to acknowledge the relevance of the
Bible and Torah to the teachings of Islam and
incorrectly acknowledging Risalah, Muslim
academics have misled Islamic economics into
a narrow development focusing solely on the
primary and secondary sources of knowledge
derived solely from the Qu’ran, completely
ignoring the first two Divine messages sent
through Moses and Jesus to the detriment of
the development of Islamic finance and
banking.
7. In Islam, “the individual is perceived to be the
vice-regent of God on earth, a khalifah, to fulfill
the expected duties in their social, economic,
financial and other behaviours in order to make
their decisions through a moral filter”
(Asutay). The moral filter is supported by the
Qu’ran and Sunnah, the Shari’ah, Fiqh, and
Risalah.
8. You are only here because God allowed you to
be here and you are merely an extension of
God’s will.
Fulfil your assigned task here on earth before
returning home.
I believe that this notion of serving God’s will
and acting according to a divine code of moral
conduct strikes resonance with all of the
brothers and sisters of the Holy Book.
9. Chapra explains that “He has sent His
guidance to all people at different times in
history through a chain of His Messengers
including Abraham (p.b.u.h.), Moses (p.b.u.h.),
Jesus (p.b.u.h.), and Muhammad (p.b.u.h.)...
Thus, there is a continuity and similarity in the
basic worldview and value system of all
Revealed religions.”
10. The mission of all of the Prophets including
Moses (p.b.u.h.), Jesus (p.b.u.h), and
Muhammad (s.a.w.) was to perform tazkiyah
(purification plus growth) of an individual in
her relationship with God, with other people,
and with the environment, society, and the
state. This purification process would lead to
the purification of the capitalist system into a
moral economy.
11. “As khalifas of God…the freedom of human beings is bounded
by moral values to ensure not just their own well-being but
also the well-being of all God’s creatures. When the angels
realized at the time of man’s creation that he was going to be
God’s khalifah on earth with freedom to act on his own
initiative, they had an apprehension that this freedom might
lead him to corrupt the earth and to shed blood (Qu’ran, 2:30).
To help them avoid such a fall, God has Himself provided
them with the second precious asset, which is the guidance
sent by Him to all human beings and nations at different times
in history through a chain of His Messengers.
The purpose of this guidance is to assist them in managing
their affairs in this world in a way that would help ensure the
well- being of all in harmony with their mission as khalifas of
God. Their freedom is, therefore, within the bounds of the
guidance provided by Him.” (Chapra)
12. It is time for the mutual and concerted effort
by all the people of the Book, Jewish,
Christians, and Muslims to work together
under the principle of Risalah in the new
movement of
HOLY BOOK
BANKING.
13. “Well, I don't know what will happen now. We've
got some difficult days ahead. But it doesn't really
matter with me now. Because I've been to the
mountaintop. I don't mind. Like anybody, I would
like to live - a long life; longevity has its place. But
I'm not concerned about that now. I just want to do
God's will. And He's allowed me to go up to the
mountain. And I've looked over. And I've seen the
Promised Land. I may not get there with you. But I
want you to know tonight, that we, as a people, will
get to the Promised Land. So I'm happy, tonight. I'm
not worried about anything. I'm not fearing any
man. Mine eyes have seen the glory of the coming of
the Lord.” Martin Luther King Jr.
