Capitalist system is about to collapse. The only solution is the Interest free Islamic Economic system. This is the type of banking that prevails in Iran and other Islamic nations.
The Islamic economy is free of interest. Islam prohibits all transactions involving interest. Interest is neither a trade nor a profit. It is a means of exploitation and concentration of wealth. The Qur'an says:
"They say, trade is like interest and Allah has allowed trade and prohibited interest." (2:275).
"Whatever you pay as interest, so that it may increase in the property of (other) men, but there is no increase for Allah."(30:39).
"O you who believe, do not take interest, doubling and quadrupling, and keep your duty to Allah, so that you may prosper." (3:130).
"O you who believe, observe your duty to Allah and give up what remains (due) from interest, if you are believers. But if you do not do it, then be warned of war from Allah and His messenger; and if you repent, then you shall have your capital. Do not exploit and be not exploited." (2:278-279).
Interest is the basis of modern capitalism. It is completely opposite to Zakat. Zakat channels wealth from the rich to the poor while interest takes away wealth from the poor and hands it over to the rich.
Western Economic system ( Capitalism ) is going to collapse now.
The Islamic economy is free of interest. Islam prohibits all transactions involving interest. Interest is neither a trade nor a profit. It is a means of exploitation and concentration of wealth. The Qur'an says:
"They say, trade is like interest and Allah has allowed trade and prohibited interest." (2:275).
"Whatever you pay as interest, so that it may increase in the property of (other) men, but there is no increase for Allah."(30:39).
"O you who believe, do not take interest, doubling and quadrupling, and keep your duty to Allah, so that you may prosper." (3:130).
"O you who believe, observe your duty to Allah and give up what remains (due) from interest, if you are believers. But if you do not do it, then be warned of war from Allah and His messenger; and if you repent, then you shall have your capital. Do not exploit and be not exploited." (2:278-279).
Interest is the basis of modern capitalism. It is completely opposite to Zakat. Zakat channels wealth from the rich to the poor while interest takes away wealth from the poor and hands it over to the rich.
Western Economic system ( Capitalism ) is going to collapse now.
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