Shaping the minds of the Maranaws On wealth without morals; the common aspirations of men
By : Alexander Mangorsi Mindanao Today/07:28:21pm 08/20/2021
Alexander Mangorsi | Bangsamoro Policy Caucus
(3rd of 4 parts)
Wealth without morals
ABU Huraira narrated that the Prophet said: “A time will come upon the people when one will not care how one gains one's money, legally or illegally.” (Bukhari)
It is also reported by Jabir that the Prophet said: “The flesh and body that is raised on unlawful sustenance shall not enter Paradise. Hell is more deserving to the flesh that grows on one's body out of unlawful sustenance.” (Ahmad).
As predicted by the Hadith, a number or a tiny number of the Maranaws, though they do not represent the majority, driven by too much voracity for power, wealth and treasures, have been lured, so enticed and deeply enamored by the mesmerizing and hypnotic spell of illicit shortcuts in wealth-making.
This kind of practically lucrative but immoral profitable economic venture takes the form in riba, shark loans, graft and corrupt practices acts, stealing and plunder of public funds, commercial deceits and many other economic wrongdoings:
Riba or usury
(1) “Riba,” in common parlance, is a concept in Islam that refers broadly to the concept of growth, increasing, or exceeding, which in turn forbids interest credited from loans or deposits.
The term “riba” has also been roughly translated as the pursuit of illegal, exploitative gains made in business or trade under Islamic law, akin to usury.
Riba, “usury,” or the unjust, exploitative gains made in trade or business. (a) Riba An-Nassiya or the excess accruing from a loan transaction; (b) Riba al-Fadl or the simultaneous of unequal quantities or qualities of a given commodity. Anything of “surplus value without counterpart can be considered riba; (c) Fiqh riba al-duyun Riba can also be understood as any unjustified increment in borrowing or lending money, paid in kind or in money above the amount of loan, as a condition imposed by the lender or voluntarily by the borrower.
“O believers, devour not usury (riba), doubled and redoubled, and fear you God; haply so you will prosper.” (Surah Al-i-'Imran Quran 3:129-130)
Why riba is haram
The first and foremost reason riba is haram is because Allah declared it so.
It is based on Allah’s infinite wisdom that He deems an action to be obligatory or prohibited, prescribing matters in man’s best interests, in this life and in the Hereafter, as He is the All-Wise, All-Knowing.
The scholars of Islam have suggested some of the following reasons as to why Riba is haram:
A. Riba is prohibited under Shari'ah law for a couple of reasons. It is meant to ensure equity in exchange. It is meant to ensure that people can protect their wealth by making unjust and unequal exchanges illegal.
B. Riba conflicts with the spirit of brotherhood and sympathy, and is based on greed, selfishness and hard heartedness.
C. Riba causes trauma and depression due to mounting debts. Riba is a sure gain for the lender and a burdensome for the borrower.
D. Riba creates a monopoly in society, where the rich are rewarded for being wealthy, while those who are not are forced to pay extra!
5-6 lending scheme
(2) The 5-6 lending with its excessive interest of 20% is the worst kind of Riba.
5-6 involves lenders – issuing small loans at a 20% interest rate or so. Payments are typically collected on a daily or weekly basis.
This practice of riba are mostly done by Indian nationals and now a number of locals including some of our unscrupulous peoples have also joined this haram way of making excessive profits.
The Maranaws must stop this kind of commercial crime because it’s clearly prohibited by the Qur’an and the Sunnah of the Prophet Mohammad s.a.w. because this scheme causes further financial distress to the poor.
Even President Duterte, in the middle of his presidency, has once threatened to order the arrest and deportation of such 5-6 lenders or just kill loan sharks engaged in the infamous 5-6 money lending scheme that was perceived to have roped many poor Filipinos in debt.
Although their high interest rates are not illegal per se, they were deemed by the President “usurious” and “burdensome” to the people. (To be continued)
(Alexander Tomawis Mangorsi is the admin of the Bangsamoro Policy Caucus Facebook page. The Bangsamoro Policy Caucus is an internet-based policy advocate for issues of indispensable relevance and significance to the common welfare and collective good of the Moro People.)