Lessons in Islamic Finance from the Story of Prophet Shuaib a.s. and His People...
by Nisaar Y. Nadiadwala on Thursday, October 6, 2011 at 10:20pm
The People of Shuaib a.s. are the only one upon whom there were three types of Punishments. The rest of the destroyed nations perished through one punishment. Noah's people were drowned by flood and so was Pharaoh. The people of Lut a.s. were showered a rain of brimstone, for the people of Thamud a mighty earthquake was enough.....But there were three azab for the peopleof Midyan, a mighty earthquake (Surah al Ar'af ch 7, verse 91), a huge scream or a mighty blast (Surah Hud ch 11 verse 94), and the third, as per their challenge that "if Shuaib a.s. was truthful then let a fragment of sky fall upon us" and Allah fulfilled their desire (Surah as Shura ch 26 verse 188-189)
The sins of the perished nations are described in the same places of the Qur'an where their crimes are mentioned. The people of Shuaib a.s. were dishonest business men and alllso looted people on the highways. They did not give full measure and caused losses to others by fraud, says 181th verse of Surah as Shura. The allegations further says that they did not weigh with even scales and cheated people.
Financial frauds are a big burden on the society where all the sections get effected. Even today Banks are declaring themselves bankrupts and so do multinational companies. The Airlines, The Banks, The Automobile GM all have lost billion dollars of American taxpayers in last half decade. Shamelessly these companies even demanded governments to bail them out again from the tax payers money !
How many Americans remember the great fraud of Enron and how many senior citizens lost their capital and savings? Shareholders lost nearly $11 billion when Enron's stock price, which hit a high of US$90 per share in mid-2000, plummeted to less than $1 by the end of November 2001.Books after books are being published exposing white collar legal robberies around the world.
India topping the list with almost $1500 Billion black money in Swiss Banks. In humour some one once remarked : The capital of Pakistan has always been in Washington but the captial of India has being shifted from New Delhi to Swiss Banks! In Mumbai financial circle they say : The more number of times you have declared bankruptcy. the bigger man you are..(because you have not loss the money but eaten up legally).
The people of Shuaib robbed people, the people of capitalism also rob people but legally, with the help of local laws. The people of Shuaib robbed on highways, the people of Capitalism rob every where from Government offices to Toll centers and also in educational Institutes. The mediclaim has given a license to many doctors to rob people medically. There are no statistics available on mediclaim but the common man surely finds himself shelling out more money in various unwanted tests.
No wonder the punishment of Allah is due upon the financial frauders.. as Surah Takasur says : Woe to every slanderer and back biter who amasses wealth and keeps on counting it . He thinks that his wealth will be for ever?
Author : Nisaar Nadiadwala speaks and writes on socio-educational issues from Islamic perspective. He can be reached at nisaar_yusuf@yahoo.com
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