ردة الفعل الثانية Please read the second feedback below on Riba vs.. Interest. أساتذة جامعات يقدمون الأبحاث لإثبات أن الفائدة في الإقتصاد الحديث ليست ربا
لكي تعلموا حجم المصيبة البحث موجود على الرابط المذكور في الرسالة أدناه http://ssrn.com/abstract=1528770 ****** Riba, Interest and Six Hadiths: Do We Have a Definition or a Conundrum? Salam and greetings. At the crux of the discourse about Islamic finance and banking is the issue of Riba and interest.. There are some ongoing threads focused on this. One of the critical areas related to this discourse is Hadith, which serves as the basis for the gradually broadened scope of Riba. There are a lot of claims about the Riba-Interest Equation [i.e., equating Riba and interest in a blanket manner] that is particularly based on hadith. However, very few works are available to educate us as Muslims about the hadiths that are commonly used to make claims about the Riba-Interest Equation. The readers can download a newly published paper - "Riba, Interest and Six Hadiths: Do We Have a Definition or a Conundrum?" - from the SSRN archive: http://ssrn.com/abstract=1528770 . This paper might interest those who want to go beyond the technical aspects of Islamic banking and finance and also have a solid foundation in relevant evidences from the primary sources of Islam. Of course, these are subjects that are complex and making any definitive statement or taking any definitive position is unwarranted. That's why this paper lays out the pertinent evidence with critical examination so that the readers as well as students of this field are helped to do their own due diligence. Any feedback is most welcome, especially because this is an ongoing research and thus I approach such subject and present the work with an open mind. Fi amanillah. ALLAH BLESSES MOHAMMAD AND GIVES HIM PEACE Your Brother; NIDAL ALSAYYED, PhD Researcher, Islamic Banking and Finance www.INCEIF.org & www.ISRA.my Kuala Lumpur, Malaysia Tel. +60172559700, Fax. +603 414 70700 Email(1): nsayed1...@yahoo.com Email(2): nslsa...@iit.edu Email(3): nsaye...@gmail.com Email(4): nsaye...@hotmail.com On Google: http://groups.google.com/group/nidal_islamic-finance On LinkedIn: http://www.linkedin.com/in/alsayyed On Skype: nidal_IslamicFinance On Fringe: nsayed70 On Facebook: nsaye...@hotmail.com ________________________________ From: Nidal Alsayyed <nsayed1...@yahoo.com> To: Nidal_IslamicFinanceGroup <nidal_islamic-fina...@googlegroups.com> Sent: Fri, January 1, 2010 12:13:02 AM Subject: [Nidal_IslamicFinance:802] New comment on "[Paper] Riba, Interest and Six Hadiths: Do We Have a Definition or a Conundrum?" السلام عليكم ورحمة الله الأعضاء الأحباب حفظكم الله هذه أول ردود الفعل من أحد الأعضاء عبر شبكة "لينكدإن" من الدكتور محمد فاروق عن موضوع الربا والفائدة سأنقل لكم هذه الحوارات...وهي عينة فقط لأشخاص يمثلون مؤسسات عالمية فقط لكي تعلموا عمق المسألة وأن الموضوع ليس سهلا هل من تعليق على كلامه؟ ما رأيكم؟ Any one can comment on the below feedback? Thank you; LinkedIn Groups * Group: Global Islamic Finance Resources * Subject: New comment (3) on "[Paper] Riba, Interest and Six Hadiths: Do We Have a Definition or a Conundrum?" Salam and greetings. Thanks to Br. Nidal Alsayyed for sharing this work of Tarek Al Diwany. It is a well circulated work on the issue of interest. However, two things need to be noted. First, my paper - "Riba, Interest and Six Hadith ..." is a critical analysis of hadiths that are commonly cited in blanketly equate interest with Riba. It has the limited purpose of merely explaining the problem with the hadiths that are generally invoked in support of the traditional view. Br. Tarek's work deals with interest as a problem, without putting it in the context of the problems identified in the paper "Riba, Interest and Six hadith..." It simply assumes the Riba-Interest Equation, without even acknowledging the problem with textual evidence (dalil) in this regard. Secondly, there are several aspects in the work of Br. Tarek that is unsubstantiated. For example, he writes: "In the absence of interest .... [T] practice of leverage would disappear and with it the speculative mentality of our time." The above statement assumes that speculation is primarily due to interest. That is simply inaccurate. Anyone can look at the stock market which is basically not based on interest, but rather on sharing of profit and loss. Is speculation absent in the bond market more than the stock market? The answer clearly is 'no'. Therefore, how can it be expected that speculative mentality would be gone simply be causing interest to disappear? Indeed, the counter argument might be stronger that those who participate in the bond market are less speculative. The speculators in ALL financial markets whether interest-bearing or non-interest-bearing markets - be it bond, stock, commodity, currency, etc. - they are speculators in contrast with long-term investors.. Removing interest would not cause these speculators to heal or give up. This is just one logical as well as empirical problem with "The Problem of Interest". Fi amanillah. Posted by Dr. Mohammad Omar Farooq Go to complete discussion » Don't want to get notifications about this discussion? Unsubscribe here » LinkedIn values your privacy. At no time has LinkedIn made your email address available to any other LinkedIn user without your permission. ©2009, LinkedIn Corporation. -- You received this message because you are subscribed to the Google Groups "Nidal_Islamic Finance" group. To post to this group, send email to nidal_islamic-fina...@googlegroups.com For more options, visit this group at http://groups.google.com/group/nidal_islamic-finance?hl=en?hl=en -- You received this message because you are subscribed to the Google Groups "Kantakji Group" group. To post to this group, send email to kantakjigroup@googlegroups.com To unsubscribe from this group لفك الاشتراك من المجموعة أرسل للعنوان التالي رسالة فارغة, send email to kantakjigroup+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/kantakjigroup?hl=en سياسة النشر في المجموعة: - ترك ما عارض أهل السنة والجماعة. - الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي وعلومه ولو بالشيء البسيط. ويستثنى من هذا مايتعلق بالشأن العام على مستوى الأمة كحدث غزة مثلا. - عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه. باستثناء الأمر العام الذي يهم عامة المسلمين. - تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد الأدب وخاصة منها التي تأتي من أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على التفاعل الإيجابي. - ترك المديح الشخصي.
