Re: Allama Iqbal and the Reconstruction of Islamic Thought
^ don't mind my braincells, they have done me well in life.
The proof is in the pudding. The system professed by Islam is like communism..makes for good fiction. But reality is not a paperback at barnes and noble. :)
Re: Allama Iqbal and the Reconstruction of Islamic Thought
retorting to anger and saying fk u won't change anything...mate u can try to educate in some issues but...in many issues muslims don't need brainwashing...they go by quran and teachings of prophet (i realize some of them take the meanings completely wrong also)...the whole idea of saying that these teachings are outdated will not convince any muslim bro....because muslims beleive that quran was the final book and donot dispute it no matter how broad-minded we become...yeah some of us do sometimes interpret them wrong..and hence terrorism happens and gives all muslims a bad name
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Entire PM's are sent, death warrants issued, feedback threads openend asking for bannings because these people with teeny tiny brains can't think outside their fundo box.
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This thing i am completely against because some ppl are very narrow minded mate just leave them..
My commenting was not based on this thread (I apologize for being off topic) but it was a general observation in of ur posts in many threads...thats what tripped me off...other than that i find many of ur posts inetersting and funny also
Re: Allama Iqbal and the Reconstruction of Islamic Thought
fiction can never be implemented but this fiction was implemeted to its fullest for many decades. Still a fiction?
Re: Allama Iqbal and the Reconstruction of Islamic Thought
Matty, i am well aware of the distinction between Cpaitalism and one intrument of financial gain(interest). I purposely did not ask you to elaborate on Capitalism. My question is more philosophical in nature.i.e. Has the compounding interest and the wild gains/sometimes losses corrupted us morally?
Re: Allama Iqbal and the Reconstruction of Islamic Thought
the system is still professed by many good muslims…
u will find many successfull businessmen among muslims who have never dealt with interest…
if the countries r not implementing Islamic economics (like many other Islamic issues that r not part of their government system) it does not mean that it is not practiced…
i myself have never dealt with interest…
Re: Allama Iqbal and the Reconstruction of Islamic Thought
that explains it all.!!
Re: Allama Iqbal and the Reconstruction of Islamic Thought
AQ- can you compare the difference between the financial products offered in Islamic banking and conventional banking ? If you need a loan, and an islamic bank offers you loan then what will be terms and condition ?
Re: Allama Iqbal and the Reconstruction of Islamic Thought
Code_Red: I can definitely get some research done and find the answer for you but if you noticed that is not the topic of the discussion. Riba or usury was simply mentioned in the article as part of it and there was no concept of Islamic banking in there. It was the offtopic discussion that matsui started with respect to usury discussed in other thread.
I think a separate thread will do the justice to your question. But I will suggest you ask as a general question so that if anyone knows in advance can give the answer without you having wait for my answer. Theek:)?
Re: Allama Iqbal and the Reconstruction of Islamic Thought
Ok take your time :)
And if someone else knows the answer then please enlighten us.
I think we need to understand practical solutions. Like one needs money for some reasons then what are the islamically permisible way to borrow it, in present scnerio.
Re: Allama Iqbal and the Reconstruction of Islamic Thought
NO, I think those are mutually exclusive things. Compound interest has enabled us to add risk to the cost of capital equation. The lendee needs to assess his ability to pay back before taking on financial obligations. Compound interest simply enforces that.
Wild gains have nothing to do with compound interest.
I think what you want to propose is whether the profit motive the right way of thining for human beings from a moral perspective. All roads lead to ambivalence here.
The above article’s basic premise is wrong..it is equating capitalism with usury. It is like equating Islam with beheadings. I think it’s time you folks put your college ediucation to work.
Re: Allama Iqbal and the Reconstruction of Islamic Thought
what do they do, barter cattle?
Re: Allama Iqbal and the Reconstruction of Islamic Thought
u’r just as wrong as those who say the idea of capitalism is unislamic. Islam is all for private ownership. The issue is the framework through which the capitalist economy works. So the solution must be to find a different way of application. It might take a little longer for the brightsparks to come up with that one. but its not entirely impossible though.
Re: Allama Iqbal and the Reconstruction of Islamic Thought
Salamaleikum
My grantfather had taken loan from some of his rich friend,in 1971 when Afghanistan had began the problem and his all carpet business had failed. He had signed a contract with that person that without fail he would continue giving him or his family such and such amount. He made this comitment because he knew well that the business he is investing would 100% give say Y % profit. He continue paying him this amount until, his business grew and he returned him all money.It is exactly what happens in banks and capatalism. I do not think my grandfather's friend took interest at all. It is correct to think that we give the color of profit to interest. To understand this we should know about businesses and the value of currency change. If some one asks that ok you need one million I would give you but I would take this much and takes advantage of others need. Bank take the money to invest and earns money on it. If bank gives loan then bank is deprieved of using that money in certain business. And the person who is taking loan would invest it in business and earns profit. So bank wants a minimum share from that profit to compensate that loss of not using that money in business. This is what happens in capatalism, and perhaps islamic. Equating all menkind , fullfilling everybodies' need , irrespective of who has worked harder then other for a better life is perhaps not islamic. God has given superority to some on others . And this always true , in every way of life.
Re: Allama Iqbal and the Reconstruction of Islamic Thought
Discussion on reconstruction of Islamic thought by Allama Iqbal…as a philosopher, intellectual, poet and Islamic scholar Iqbal realized that there is a problem with the way Muslims view their religion and its practices. Therefore, his “Reconstruction” of Islamic thought. Limiting this discussion to capitalism and interest is a great disservice to Allama’s ideas. His world view included governance, honor, politics and religious practices. Allama was a big proponent of Ijtihad (open discussion) which unfortunately has been closed by our clerics. 
Re: Allama Iqbal and the Reconstruction of Islamic Thought
But Heather Locklear without lipstick looks pig 
Re: Allama Iqbal and the Reconstruction of Islamic Thought
Some forms of interets in some contexts. Not all interests r wrong.
Re: Allama Iqbal and the Reconstruction of Islamic Thought
prove your statement from Quran please.
Re: Allama Iqbal and the Reconstruction of Islamic Thought
and u rpove where interests r wrong, and provide the verse #.
I will tell u what has God said before the verse, and in what context.
Read full Quran, and not some bits and pieces of it,
Re: Allama Iqbal and the Reconstruction of Islamic Thought
Correction Matsui - Irrelevant of what it means or what the corollaries can be, these are not the words of Iqbal, but of the person who is commenting on this book!
We all know that when something is imperfect that it is imperfect! As my brothers in Islam have already said, there is a different between a system and its embodiement. Same is the case of with the religion “Islam” and its implementation in recent times, which is no where to be found these days!