Reasons for the changing purchasing power of money in light of Islamic law 2
كتبهاأسامة مروان ، في 2 يونيو 2010 الساعة: 21:59 م
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أسباب تغير القوة الشرائية للنقود في ضوء الشريعة الاسلامية
أسباب تغير القوة الشرائية للنقود في ضوء الشريعة الاسلامية
Reasons for the changing purchasing power of money in light of Islamic law 2
Writer: Osama Marwan, in the May 30, 2010 time: 20:05 PM
In the article written
by Professor / Ahmed Mustafa Abu Hubaysh - the publication of the
magazine Al-Azhar glue the spring of 1431 the other in April 2010
entitled:
"Money and the effects of changing purchasing power in light of Islamic Shariah"
Compendium of research
in this area, where he is a professor of accounting at the University of
California - After a review of some of the legal rules and examples,
made the conclusion says:
(Through
research in financial assets and Islamic accounting, I believe that
Islamic accounting list mainly to maintain the purchasing power of
currencies of cash, and from here I believe that the repayment of the
loan amount is equal to "power" of purchasing the time of borrowing, as
measured on the basis of an agreed time of contract the
loan is not entirely forbidden, and this is the interpretation of the
principle of injustice and the law of homosexuality referred to in the
preceding pages - (ie in the article mentioned above)
We agree with him that: a list of Islamic accounting are essential to maintain the purchasing power of currencies cash …
But what are legitimate means to achieve this?
What are the reasons already changed the purchasing power of money in light of Islamic law?
And the statement that Let’s discuss some of the priorities:
1
No doubt; the purpose of capital movements is: to achieve the mutual
benefit of both parties … and, if they’ve identified party to the
lending on the basis of how it referred to the research question, for we
deleted the banks now in place, including animate systems, Islamic; for
being unprepared Therefore,
and especially as they deal with money in terms of their value in
itself, and without referring to any thing else, and thus the yield is
expected to be on the rise of digital only; is to differentiate between
beneficial - the bottom line in the current dispute about being - or the
increase of digital - Lord or not?
It is also necessary to
achieve this system, the existence of a separate fund dedicated for
this purpose: and partly to raise our hands to approve the system;, but
we would like to refer to some additional controls that control the
deal, and here specifically we propose the establishment of what we
call:
National Provident Fund - and the details of the statement as follows:
First: The aim is: -
Financing without interest at all … any interest = zero.
Second: the target groups: -
All groups are capable of work and production.
Third: The funding sources:
Axis
I: Savings all categories of people capable of saving for a specified
period; to recover their savings in these categories as well known - but
that savings will be without interest and redemption at all; in return
for incentives in the tax exemption is gradually .. Up
to the tax exemption and complete .. This tax exemptions: do not
represent any loss of state resources, given the economic feasibility of
the huge revenue from operating the manner previously explained - may
even be revenue more than that; including not enough room to explain
it;, but bear in pieces for nimble reader … ..
Axis
II: Coverage of the burden of management of the Fund: by some banks
Zakat collected from the owners of savings - which can not be compared
in any way the values of the previous tax exemption! -
As well as the values of Zakat collected from the beneficiaries of
those Almdechrt; on the actual profits - as well as items of other types
of Zakat, and that it serves to clarify another … such as zakat ore …. As well as some other resources, such as voluntary contributions and banks do righteous deeds .. and others.
This
system has significant benefits in economic terms as the legitimate
financing without interest (interest on the money: One of the reasons
for the changing purchasing power of money as we will cite later)
And also has advantages in terms of social, legal, and ease the burden on the State .. Also in greater depth later ..
2 must have access to a specific definition: the essence of money …. What is the purpose of them; as a tool for handling benefits, and not as an end in itself .. It Kaldapp which Nrkpha and do not eat; so as not to lose it ..
The
definition of money and purpose, you might think at first glance that
he had ordered had already been settled since the time of great … but in
our humble opinion; that it has not been decided yet …. If
we look at the fact the current cash, we know that as a result of
accumulation of trading over long years, and dealing with riba open
times, and riba-based non-explicit, often, in addition to the
development of methods and multiple methods in place of money in
transactions (ie, quasi-money), such as shares and bonds
and the rest of the securities, as well as letters of credit and
security, and finally credit cards, which aims to reduce cash handling
liquid … As a result of all this, became a money-express themselves
indicator of a special inside, and within only; affected by the down and
up according to supply and demand, and
are required to become itself, a store of value and appreciation of
wealth, in addition to being a means of circulation - and became the
valuables estimated, while the money should be estimated Balinvais … and
perversely mixed Nabeul .. And
left it on the normal track .. here, and save the order - as we see it
as our vision modest - must rely on the value, fixed, and real; and
single; build upon the estimated value of actual money … It is in our
opinion: the real energy exerted effort; to obtain it; any money; which is a form of money …
Here
an exclamation point and you have the right to admire!!; Where they
managed modern civilization to the secrets of most types of energies,
and their uses … and then stood stupid, gaping mouth; to the greatest
forms of energy: These are Taqpalty efforts of human beings; in order to
achieve, and to meet human needs in
all its forms, it is energy - very - not fake or ridiculous, but it is -
very - Energy effective: do not degrade as it does not create from
scratch - but moving from one to another: and this is the essence what
is happening when the exchange of human benefits, and meet their needs
of life, energy ,
Jed, is appointed money and does not stop the circulation of only
death, but is useful for energy remains after even if Ffinet symbols of
coins, paper or metal; and therefore proceeded to inheritance; to
achieve justice ancestral transfer of capacity to the grandchildren!.
This
energy: in bad faith are continuing to waste … and this street-wise
basis to impose the deal: and no legislation is left to humans, it has
become the core of religions .. And this serves as another talk ..
And
so the money; and how they relate mainly Balhad (real and construction)
is involved in for it, which is estimated quantity and Almeskuk them;
on the accumulation of the efforts of individuals in the same society ..
and that the status of Islam a way of appreciation, with its standards Regulations and ensures it to maintain its value in trading and stock assessment, with the consistency with the time factor …. But
the money appeared, and where infected modern diseases, which is called
inflation and deflation and the decline and rise in value; should note
that it is not the money that created for people, and God wanted them
for the reconstruction of the earth …
Inflation in the current definition is: the direction of prices continuing to rise!.
But this trend is the continuing rise in prices is the result of an act, and not the phenomenon itself!!
- What is inflation and how it happens, then? ; And what is the action that leads to this result: the trend of prices continuing to rise?
We think in this regard that the real inflation of two types:
First: the self-inflation:
II: inflation is interest-based:
Inflation
Self: he knew what al-Shara, and select the quantity b: The amount of
Zakat, and alms, and pays legitimate, due Cutback of the funds; for
clearing out the pollution utilization enlarged them, and at the dates
and the conditions of legality; and which, if not lead, to the extent and
how and deadlines, which began it: it affects the money and the money
the first pests; and it is inflation itself, which would result in price
rises of unchecked and prevail price rises; the presence of potential
trouble, is not in place, and is one of the reasons for the changing
purchasing power of money. .
Inflation,
interest-based: This is the most obvious; open it and hidden, as the
interest usury in all forms of direct cash or indirect manifestations of
dealing forms developed from the cash (securities and cards, electronic
payments and other issues that might require more additional
expenditures), all of that In
addition to the cost of production, and service, but; and cost
character; which in turn leads to further rises in prices, as a result;
inflation digital riba; and not as interpreted by positivists; that the
direction of prices to rise continuing, it is inflation itself; one who
explained that water after the effort water …
Has; here to
conclude the result of: and: that every interaction leads to an
unjustified rise in prices, and without effort while building, it
appears to increase quality, quantitative or qualitative, one or both:
it: Lord ….!!
This is the second cause: the changing purchasing power of money ..
There may be other reasons not yet known ….
Either;
the definition of contraction, of the same mind: is the return
periodically to inflated self-value of money; and usurious; to the
actual size and strength, as measured against the actual capacity, and
made an effort to get it - and for each individual society ..
And
this may explain the fact that the currency independent of each
society; stemming from the accumulation of total energies homogeneous -
And
may also explain the risks of the single currency, to
energy-heterogeneous societies … (and this is what we are contemplating
the risk of a European single currency the euro, the dollar and the
currency of payment internationally standardized, on local economies and
the world .. and this is another hadeeth)
And
therefore, if true, these hypotheses; and we agree on these
definitions; the principle of lending and borrowing; should not be the
prime mover of the economy, had a motive and the motive for the
individuals, it is not the case, and if in part, for the national
economy …
So, Speaking of the
status of a modern economy, based on the principles and Islamic rules;
is necessary to consider some method of economic transactions based on
interest loans, or finance, or whatever it may be named … and the deal
here is based on:
Circulation
of capital may be the option before and through Provident Fund
subscriber; in exchange for the benefit of each party from running money
for a period of time, provided that the interest rate is equal to zero …
that is what we might call the economy the central (ie the circulation
of capital good at saving and refund, a continuation of on the requirement of a central P = 0; any value when trading interest is equal to zero),,
And
see that the verses of the Koran had guided us to the meanings of the
words: circulation, and circulation of capital, and spot trade, and were
discouraged that the only money should come from the State between the
rich only; and in the interview: that he (handle) hand in hand .. and
Alihart other multi- those who wanted to manage or devise .. ..
And
perhaps should not have exceeded Fahmy far right; and perhaps new
ideas, we hope that God can accept us … and further clarifications
later, God willing …
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5 تعليق على “Reasons for the changing purchasing power of money in light of Islamic law 2”
اكتب تعليــقك
يوليو 2nd, 2010 at 2 يوليو 2010 2:27 م
يوليو 5th, 2010 at 5 يوليو 2010 9:43 م
يوليو 17th, 2010 at 17 يوليو 2010 10:37 م
أكتوبر 13th, 2010 at 13 أكتوبر 2010 10:58 ص
نوفمبر 9th, 2010 at 9 نوفمبر 2010 11:49 م
article, very usefull for me…thank you