Islam and the Future of Money by Imran N. Hosein

By Imran N. Hosein

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And whoever from amongst you turns to them with friendship and alliance belongs to them. ” (Qur’ān, al-Māidah, 5:51) 32 We live in precisely such a world in which a JudeoChristian alliance has emerged for the very first time in history. It is that alliance which has created modern western civilization, and which now rules the world through the United Nations Organization, etc. It has created a monetary and economic system through which it has already succeeded in unjustly enriching itself at the expense of the rest of the world.

The Federal Reserve Bank appeared in the above incident to have initiated a ‘trial run’ to test domestically the new monetary system through which a massive and unjust transfer of wealth throughout the unsuspecting world could be achieved. That transfer would take place through the simple device of creating money out of worthless paper and then forcing paper currency upon all of mankind. Those who control the monetary system would then target certain currencies and force them to be continuously devalued.

Will get painful punishment. ” (Bukhari) Transactions based on deception such as concealing the marketprice, can permit a seller or buyer to sell or buy goods at a price higher or lower than the market price, and thus realise a gain or profit greater than that to which he was justly entitled. We may now deduce that any transaction which is based on deception and which realises for the agent of deception a profit or gain greater than that to which he is justly entitled would be Ribā. The modern monetary system based on non-redeemable paper currencies that constantly lose value constitute precisely such deception that yields profit or gain to which they creators of the monetary system are not justly entitled.

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