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Today's Reminder

June 19, 2024 | Dhuʻl-Hijjah 12, 1445

Living The Quran

Al-Isra (The Night Journey)
Chapter 17: Verse 82 (Partial)

Healing and Mercy
"We send down (stage by stage) in the Quran, that which is a healing and mercy."

The results of researches conducted over a group of volunteers from the USA who were subject to a recitation of the Quran were striking. A trace of a tranquilizing effect was recorded on 97% of the participants. Although many of these volunteers did not know Arabic, they nonetheless experienced involuntary physiological changes that led to notable alleviation in the acuity of tension they were observed to possess in their nervous systems prior to the experiment.

Furthermore, an EEG experiment during the Quran recitation revealed that the encephalic waves moved at a slower pattern, indicating a state of deep calmness. Non-Arabic speaking people felt assured, quite, and relaxed when listening to the Quranic verses, in spite of their inability to understand their meaning. This is one the miracles of the Holy Quran.

The Prophet, peace be upon him, revealed this miracle by saying, "People assembled in one of the houses of Allah (Mosques), and who recite and study the Book of Allah, find that a tranquility prevails over them, and that mercy encompasses them, and that the angels surround them, and that Allah mentions them in the presence of those near Him."

Source:
"Medical Miracales of the Quran" - Dr. Sharif Kaf Al-Ghazal. The Islamic Foundation, UK. p. 104-105.

From Issue: 485 [Read original issue]

Understanding The Prophet's Life

Falsehood is falsehood

Abdullah Ibn Amir narrated: "Once my mother called me when the Prophet was present in my house. My mother asked me to come and said that she would give me a certain thing. He asked what did she want to give? She said that she wanted to give me a date (fruit). The Prophet said: 'If you had not given him this date, then the committing of a falsehood would have been entered into your record of deeds.'" (Abu Daud).

Abu Huraira says that the Prophet has said: "Anybody who called a child saying that he would give him a certain thing, and did not give it, then it is a lie." (Ahmed)

Adoption of straight dealing and telling the truth has been very strictly insisted upon, so much so that it has been enjoined upon to take care about this in even small household matters.

Asma Bint Yazid narrates that she once asked the Messenger of Allah: "If one of us women stated that she had no desire to have a certain thing even though she had that desire, then would it be considered a lie?" He replied: "Falsehood is written as falsehood, and a small falsehood is written as a small falsehood." (Muslim)

Source:
“Muslim's Character” - Muhammad Al-Ghazali

From Issue: 484 [Read original issue]

Cool Concepts

Musharakah

'Musharakah' is a word of Arabic origin which literally means sharing. In the context of business and trade it means a joint enterprise in which all the partners share the profit or loss of the joint venture. It is an ideal alternative for the interest-based financing with far reaching effects on both production and distribution.

'Interest' predetermines a fixed rate of return on a loan advanced by the financier irrespective of the profit earned or loss suffered by the debtor, while Musharakah does not envisage a fixed rate of return. Rather, the return in Musharakah is based on the actual profit earned by the joint venture. The financier in an interest-bearing loan cannot suffer loss while the financier in Musharakah can suffer loss, if the joint venture fails to produce fruits. Islam has termed interest as an unjust instrument of financing because it results in injustice either to the creditor or to the debtor. If the debtor suffers a loss, it is unjust on the part of the creditor to claim a fixed rate of return; and if the debtor earns a very high rate of profit, it is injustice to the creditor to give him only a small proportion of the profit leaving the rest for the debtor.

In the modern economic system, it is the banks, which advance depositors' money as loans to industrialists and traders. If industrialists having only ten million of their own, acquire 90 million from the banks and embark on a huge profitable project, it means that 90% of the project has been created by the money of the depositors while only 10% has been created by their own capital. If this huge project brings enormous profits, only a small proportion i.e. 14 or 15% will go to the depositors through the bank, while the industrialists whose real contribution to the project is not more than 10% will gain all the rest. The industrialists take even this small proportion of 14 or 15% back, because they include this proportion in the cost of their production. The net result is that all the profit of the enterprise is earned by the persons whose own capital does not exceed 10% of the total investment, while the people owning 90% of the investment get no more than the fixed rate of interest which is often repaid by them through the increased prices of the products. On the contrary, if in an extreme situation, the industrialists go insolvent, their own loss is no more than 10%, while the rest of 90% is totally borne by the bank, and in some cases, by the depositors. In this way, the rate of interest is the main cause for imbalances in the system of distribution, which has a constant tendency in favour of the rich and against the interests of the poor.

Conversely, Islam has a clear-cut principle for the financier. According to Islamic principles, a financier must determine whether he is advancing a loan to assist the debtor on humanitarian grounds or he desires to share his profits. If he wants to assist the debtor, he should resist from claiming any excess on the principal of his loan, because his aim is to assist him. However, if he wants to have a share in the profits of his debtor, it is necessary that he should also share him in his losses. Thus the returns of the financier in Musharakah have been tied up with the actual profits accrued through the enterprise. The greater the profit achieved by the enterprise, the higher the rate of return to the financier. If the enterprise earns enormous profits, all of it cannot be secured by the industrialist exclusively, but they will be shared by the common people as depositors in the bank. In this way, Musharakah has a tendency to favour the common people rather than the rich only.

Source:
“Musharakah & Mudarabah” - Taqi Usmani

From Issue: 475 [Read original issue]