SHARI’AH, CHRISTIAN, AND

JEWISH LAWBy: Camille PaldiCEO of FAAIF

INTRODUCTION

All of God’s prophets came from Prophet Abraham and his sons. Isaac and Ishmael are the sons of Abraham.

Prophet Moses is the son of Isaac and Ishmael is the Grandfather of Prophet Muhammad (S.A.W.).

Abraham is the Father of the Jews and the Builder of the Kaaba, the father of monotheism.

JEWS AND MUSLIMS ARE COUSINS Hence, Jews and Muslims are cousins as Moses descended from the son of Abraham – Isaac and Muhammad descended from the son of Abraham – Ishmael.

CHRISTIANITY, JUDAISM, ISLAM The Ten Commandments, Bible (Christianity)

The Ten Commandments, The Twelve Tablets, Torah, Talmud (Judaism)

Quran, Sunnah, Ijma, Ijtihad, Qiyas, Risalah (Shari’ah)

6 PRINCIPLES OF ISLAM

Believe in Allah

Believe in His Angels

Believe in His Books

Believe in His Messengers (Prophets)

Believe in Day of Judgement

Believe in Divine Predestination

HIS MAIN PROPHETS

Abraham

Moses

Jesus

Muhammad

HIS BOOKS

Torah (To Moses)

The Psalms (To David)

The Gospel (To Jesus)

The Qu’ran (To Muhammad)

RISALAH CONCEPT IN ISLAM

In the Islamic context, ar-Risāla means scriptures revealed from God through a Messenger (Arabic ar-Rasūl) to the people.

These messengers bring laws to their communities so as to guide them towards the straight path of God.

They can be social laws, state laws, or any other kind of laws.

The Messengers are those prophets in the Islamic context, who have been given a Revelation.

Abraham, Moses, David, Jesus and Muhammad are the well known messengers in Islam.

PRE-DESTINATION

Qadar (Arabic: قدر, transliterated qadar, meaning "fate", "divine fore-ordainment", "predestination")[1] is the concept of divine destiny in Islam.

It is one of Islam's six articles of faith, along with belief in the Oneness of Allah, the Revealed Books, the Prophets of Islam, the Day of Resurrection and angels. This concept has also been mentioned in the Quran as Allah's "Decree".

STAGES OF TAQDEER (FATE)

There are five stages where Qadar is determined and prescribed/send to creation:

The Decree of Allah that is written in Al-Lawh Al-Mahfuud before the creation of the universe. This destiny written in the preserved tablet is never changed and encompasses everything that will be.

Allah made a divine decree after the creation of Adam. Allah took out all of the progeny of Adam (i.e. all of the humans from the beginning of time until the end of time), and asked them "Am I not your Lord?" and all of the humans responded "We testify that You are our Lord!" Then Allah decreed to them who shall go to paradise and who shall go to hell.

The Life-time decree. This occurs when a person is in the womb of the mother, specifically 120 days after conception. Allah sends an angel to put a soul into the person, and the angel writes down the decree that Allah has made; his life-span, his sex, his sustenance (how much he will earn throughout his lifetime) and whether he will be a dweller of paradise or a dweller of hell.

The yearly decree. This is during the Night of Qadr (Night of Decree) where Allah sends down his decrees from heaven to earth, in it he destines the actions (deeds, sustenance, births, deaths, etc.) of creation for the next year. The word Qadar should not be confused with Qadr; Qadar is destiny, Qadr is that which has been destined, i.e. decree, thus the translation – Night of Decree.

The Daily Decree. Allah decrees the daily actions of his creation.

ANGELS

The angels are made from light and they can take any form they wish.

They are gentle, spiritual beings free from sins.

They are neither male nor female.

They do not disobey Allah, but rather obey and praise Allah at all times.

They do not eat or drink and never tire.

All angels are assigned for certain duties either in the heavens or on earth and some at the Divine Throne.

ANGELS

Only Allah knows the exact number of Angels.

Four Arch Angels including: Jibrail – (Gabriel) – He was charged with the responsibility of conveying the messages of Allah to the Prophets from the time of Adam to Muhammad (S.A.W.).

Mikail (Michael): He is charged with the responsibility of taking care of the nature such as the rain, the floods, the wind, the snow, and growth of vegetation and fruits.

Israfil (Raphael): He has been charged with the task of blowing the trumpet on the Day of Judgement.

Azrael (Azrail) (The Angel of Death) – He is charged with taking the souls of human beings at the time of death.

DAY OF JUDGEMENT

When the time comes for the Archangel Israfil (Raphael) to blow the horn or the trumpet, the dead will be raised from their graves.

The assembling or gathering of all of the people form Adam to Azrail will take place on the plain of Resurrection, which is as vast as one can imagine, for the Final Judgement.

The Recorded Book of Deeds will be handed to each person.

The questioning and weighing on the scale (balance) of the deeds done in the world will take place.

People will either be rewarded with (Al Jannah) Heaven 0r (Al Jahannam) Hell.

JUDAISM

Belief that Uzair is son of God.

CHRISTIANITY

Belief that Jesus is Son of God.

Holy Trinity.

JEWISH, CHRISTIAN, SHARI’AH LAW Apart from these differences, the message is essentially the same.

Jewish, Christian, and Shari’ah law are therefore, in fact, extremely similar.

Chapra explains that “He has sent His guidance to all people at different times in history through a chain of His Messengers including Abraham, Moses, Jesus, and Muhammad... Thus, there is a continuity and similarity in the basic worldview and value system of all Revealed religions” (2008, 21).

OBJECTIVES OF THE SHARI’AH Dusuki says that Abu Hamid al-Ghazali (d. 1111 CE) defined Maqasid or the Objectives of the Shari’ah through five objectives “The very objective of the Shari’ah is to promote the well-being of the people, which lies in safeguarding their faith (din), their lives (nafs), their intellect (aql), their posterity (nasl) and their wealth (mal)” (2011:3).

Whatever ensures the safeguarding of these five serves public interest and is desirable and whatever hurts them is against public interest and its removal is desirable.

TEN COMMANDMENTS

You shall have no other gods before Me.

You shall not make idols.

You shall not take the name of the LORD your God in vain.

Remember the Sabbath day, to keep it holy.

Honor your father and your mother.

You shall not murder.

You shall not commit adultery.

You shall not steal.

You shall not bear false witness against your neighbor.

You shall not covet your neighbor’s wife.

QU’RAN

The Qur'an includes a version of the Ten Commandments in sura Al-An'am 6:151:

"Say: "Come, I will rehearse what Allah hath (really) prohibited you from": Join not anything with Him; be good to your parents; kill not your children on a plea of want;- We provide sustenance for you and for them;- come not nigh to indecent deeds. Whether open or secret; take not life, which Allah hath made sacred, except by way of justice and law: thus doth He command you, that ye may learn wisdom. And come not nigh to the orphan's property, except to improve it, until he attain the age of full strength; give measure and weight with (full) justice;- no burden do We place on any soul, but that which it can bear;- whenever ye speak, speak justly, even if a near relative is concerned; and fulfill the Covenant of Allah. Thus, doth He command you, that ye may remember."[82]

QU’RAN

Another Chapter of The Qur'an also includes a version of the Ten Commandments in Al-Isra According to Hazrat Abdullah Ibn Abbas °the verses of Chapter 17 Al-Isra are the Quranic version of the ten Commandments[83] Commandment 1 Verse 22 "Set not up with Allah any other ilah (god), (O man)!"[84] Commandment 2 Verse 23 "And your Lord has decreed that you worship none but Him. And that you be dutiful to your parents. If one of them or both of them attain old age in your life, say not to them a word of disrespect, nor shout at them but address them in terms of honour." Verse 24 "And lower unto them the wing of submission and humility through mercy, and say: "My Lord! Bestow on them Your Mercy as they did bring me up when I was small."[85] Commandment 3 Verse 26 "And give to the kindred his due and to the Miskin (poor) and to the wayfarer. But spend not wastefully (your wealth) in the manner of a spendthrift ."[86]

QU’RAN

Commandment 4 Verse 29 "And let not your hand be tied (like a miser) to your neck, nor stretch it forth to its utmost reach (like a spendthrift), so that you become blameworthy and in severe poverty."[87] Commandment 5 Verse 31 "And kill not your children for fear of poverty. We provide for them and for you. Surely, the killing of them is a great sin."[88] Commandment 6 Verse 32 "And come not near to the unlawful sexual intercourse."[89] Commandment 7 Verse 33 "And do not kill anyone which Allah has forbidden, except for a just cause."[90]

QU’RAN

Commandment 8 Verse 34 "And come not near to the orphan's property except to improve it, until he attains the age of full strength."[91] Commandment 9 Verse 35 "And give full measure when you measure, and weigh with a balance that is straight."[92] Commandment 10 Verse 36 "And follow not (O man i.e., say not, or do not or witness not, etc.) that of which you have no knowledge (e.g. one's saying: "I have seen," while in fact he has not seen, or "I have heard," while he has not heard). Verily! The hearing, and the sight, and the heart, of each of those you will be questioned (by Allah)."[93]

RISALAH

The mission of all of the Prophets including Moses (p.b.u.h.), Jesus (p.b.u.h), and Muhammad (s.a.w.) was to perform tazkiyah (purification plus growth) of an individual in her relationship with God, with other people, and with the environment, society, and the state.

This purification process would lead to the purification of the capitalist system into a moral economy. Tawhid, is the worldview, which is based on risalah, akirah (life-after death) and a system of accountability based on Divine Law.

“It provides for freedom of action whereby each individual is viewed as an integral part of the whole” (Asutay, 2007:8). This freedom is not without bounds and is seen in the context of the larger society.  

RISALAH

“While freedom is indispensable for every individual, the well-being of all is also indispensable and cannot be compromised. Therefore, some socially agreed restrictions are necessary on individuals to ensure that they do not trespass the rights of others and jeopardize their well-being” (Chapra, 2008, 10).

Freedom is allowed to the extent it causes harm to another.

“As khalifas of God…the freedom of human beings is bounded by moral values to ensure not just their own well-being but also the well-being of all God’s creatures.

When the angels realized at the time of man’s creation that he was going to be God’s khalifah on earth with freedom to act on his own initiative, they had an apprehension that this freedom might lead him to corrupt the earth and to shed blood (Qu’ran, 2:30)…

RISALAH

To help them avoid such a fall, God has Himself provided them with the second precious asset which is the guidance sent by Him to all human beings and nations at different times in history through a chain of His Messengers.

The purpose of this guidance is to assist them in managing their affairs in this world in a way that would help ensure the well-being of all in harmony with their mission as khalifas of God.

Their freedom is, therefore, within the bounds of the guidance provided by Him.” (Chapra, 2008, 13).

RISALAH

Therefore, Shari’ah provides injunctions to mankind to ensure the well-being of humanity, justice, and peace on earth as well to promote the man’s role as khalifah on earth.

The moral teachings of Islam, derived through the Shari’ah from the Qu’ran and Sunnah, the Fiqh and Risalah, and the messages of all of the Messengers of God provide mankind guidance on how to structure financial transactions to preserve harmony and humanity as a whole.

USURY IN THE HOLY BOOKS

 

Riba (interest) was prohibited in both Judaism and Christianity long before Islam and the Qu’ran is just re-stating what the two previous Holy Books have already mentioned.

In fact, many of the economic principles in Islam can be traced back through the Holy Books to the messages expounded by Jesus (p.b.u.h.) and Moses (p.b.u.h.).

Choudhury explains, “Indeed, to protect society’s integrity and means of self-support for its members, every religion in history perceived that the system of usury… was opposed to the proper workings of society” (Choudhury, 2007:59).

Islamic banking is therefore a form of Holy Book Banking, encompassing principles found in Judaism, Christianity, and Islam.

 

USURY IN THE BIBLE

Lending money is not prohibited in the Bible. What is prohibited is charging abusively high interest.

This is because high-interest loans tend to prey on the most under resourced people in society.

God strongly rebukes usury because it oppresses the poor.

The Bible also teaches us to be very cautious regarding borrowing money.

This is because “the borrower is the slave of the lender” (Proverbs 22:7).

Once we borrow money we are beholding to the lender — and this can be a form of slavery God wants us to avoid.

USURY IN THE BIBLE

Exodus 22:25English Standard Version (ESV)

25 “If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him.

USURY IN THE BIBLE

Leviticus 25:35"'If any of your fellow Israelites become poor and are unable to support themselves among you, help them as you would a foreigner and stranger, so they can continue to live among you.

Leviticus 25:36Do not take interest or any profit from them, but fear your God, so that they may continue to live among you.

Deuteronomy 15:7If anyone is poor among your fellow Israelites in any of the towns of the land the LORD your God is giving you, do not be hardhearted or tightfisted toward them.

Deuteronomy 23:19Do not charge a fellow Israelite interest, whether on money or food or anything else that may earn interest.

Deuteronomy 23:20You may charge a foreigner interest, but not a fellow Israelite, so that the LORD your God may bless you in everything you put your hand to in the land you are entering to possess.

Nehemiah 5:7I pondered them in my mind and then accused the nobles and officials. I told them, "You are charging your own people interest!" So I called together a large meeting to deal with them

USURY IN THE BIBLE

Psalm 15:5Who lends money to the poor without interest; Who does not accept a bribe against the innocent. Whoever does these things will never be shaken.

Proverbs 28:8Whoever increases wealth by taking interest or profit from the poor amasses it for another, who will be kind to the poor.

Jeremiah 15:10Alas, my mother, that you gave me birth, a man with whom the whole land strives and contends! I have neither lent nor borrowed, yet everyone curses me.

Ezekiel 18:8He does not lend to them at interest or take a profit from them. He withholds his hand from doing wrong and judges fairly between two parties.

Ezekiel 18:13He lends at interest and takes a profit. Will such a man live? He will not! Because he has done all these detestable things, he is to be put to death; his blood will be on his own head.

USURY IN THE BIBLE If you lend money to any of my people that is poor by you, you shall not be to him as an usurer, neither shall you lay on him usury.

Leviticus 25:35-37 If your brother becomes poor and cannot maintain himself with you, you shall support him as though he were a stranger and a sojourner, and he shall live with you. 36 Take no interest from him or profit, but fear your God, that your brother may live beside you. 37 You shall not lend him your money at interest, nor give him your food for profit.

Deuteronomy 23:19,20 Do not charge a fellow Israelite interest, whether on money or food or anything else that may earn interest. 20 You may charge a foreigner interest, but not a fellow Israelite, so that the LORD your God may bless you in everything you put your hand to in the land you are entering to possess.

2 Kings 4:1,7 The wife of a man from the company of the prophets cried out to Elisha, “Your servant my husband is dead, and you know that he revered the LORD. But now his creditor is coming to take my two boys as his slaves.”

2 Elisha replied to her, “How can I help you? Tell me, what do you have in your house?”

“Your servant has nothing there at all,” she said, “except a small jar of olive oil.”

3 Elisha said, “Go around and ask all your neighbors for empty jars. Don’t ask for just a few. 4 Then go inside and shut the door behind you and your sons. Pour oil into all the jars, and as each is filled, put it to one side.”

5 She left him and shut the door behind her and her sons. They brought the jars to her and she kept pouring. 6 When all the jars were full, she said to her son, “Bring me another one.”

But he replied, “There is not a jar left.” Then the oil stopped flowing.

7 She went and told the man of God, and he said, “Go, sell the oil and pay your debts. You and your sons can live on what is left.”

Nehemiah 5:2-5,7,10,11

2 Some were saying, "We and our sons and daughters are numerous; in order for us to eat and stay alive, we must get grain." 3 Others were saying, "We are mortgaging our fields, our vineyards and our homes to get grain during the famine." 4 Still others were saying, "We have had to borrow money to pay the king's tax on our fields and vineyards. 5 Although we are of the same flesh and blood as our countrymen and though our sons are as good as theirs, yet we have to subject our sons and daughters to slavery. Some of our daughters have already been enslaved, but we are powerless, because our fields and our vineyards belong to others."

7 I pondered them in my mind and then accused the nobles and officials. I told them, "You are exacting usury from your own countrymen!" So I called together a large meeting to deal with them.

10 I and my brothers and my men are also lending the people money and grain. But let the exacting of usury stop! 11 Give back to them immediately their fields, vineyards, olive groves and houses, and also the usury you are charging them--the hundredth part of the money, grain, new wine and oil."

Psalm 15:5 Who lends money to the poor without interest; who does not accept a bribe against the innocent. Whoever does these things will never be shaken.

Proverbs 28:8 Whoever increases wealth by taking interest or profit from the pooramasses it for another, who will be kind to the poor.

Jeremiah 15:10 Alas, my mother, that you gave me birth, a man with whom the whole land strives and contends! I have neither lent nor borrowed, yet everyone curses me.

Ezekiel 18:8,17 He does not lend to them at interest or take a profit from them.He withholds his hand from doing wrong and judges fairly between two parties.9 He follows my decrees and faithfully keeps my laws.That man is righteous; he will surely live,declares the Sovereign LORD.

10 “Suppose he has a violent son, who sheds blood or does any of these other things[a] 11 (though the father has done none of them):

“He eats at the mountain shrines.He defiles his neighbor’s wife.12 He oppresses the poor and needy.He commits robbery.He does not return what he took in pledge.He looks to the idols.He does detestable things.13 He lends at interest and takes a profit.

Will such a man live? He will not! Because he has done all these detestable things, he is to be put to death; his blood will be on his own head.

14 “But suppose this son has a son who sees all the sins his father commits, and though he sees them, he does not do such things:

15 “He does not eat at the mountain shrines    or look to the idols of Israel.He does not defile his neighbor’s wife.16 He does not oppress anyone    or require a pledge for a loan.He does not commit robbery    but gives his food to the hungry    and provides clothing for the naked.17 He withholds his hand from mistreating the poor    and takes no interest or profit from them.He keeps my laws and follows my decrees.

He will not die for his father’s sin; he will surely live.

Matthew 25:27 Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest.

Luke 19:23 Wherefore then gavest not thou my money into the bank, that at my coming I might have required mine own with usury?

SURAH BAQARAH 2:275

Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity.

That is because they say, "Trade is [just] like interest."

But Allah has permitted trade and has forbidden interest.

So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah.

But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein.

HOLY BOOK FINANCE

The basic principles of this moral economy based on Risalah include the prohibition of interest ( Riba) with the objective of providing a stable and socially efficient economic environment and prohibition of fixed return on nominal transactions with the aim of creating productive economic activity or asset-based financing as opposed to the debt-based system.

In this moral economy, money does not have any inherent value in itself and therefore it cannot be created through the credit system.

HOLY BOOK FINANCE

The principle of ‘profit and loss sharing’ (PLS) and hence ‘risk sharing’ is the essential axis around which economic and business activity takes places.

This prevents the capital owner from shifting the entire risk onto the borrower and hence it aims at establishing justice between work, effort, and return and between work, effort, and capital.

An important consequence of the PLS concept is the participatory nature of economic and business activity, as Islamic banking and finance instruments, capital, and labor merges to establish partnerships through their individual contributions.

HOLY BOOK FINANCE

By essentializing productive economic and business activity, uncertainty, speculation and gambling is also prohibited with the same rationale of emphasizing asset-based productive economic activity over a debt-based system where money is made from unproductive activity (Asutay).

USURY

Taking additional money, without performing any useful work, is unjust and it is overburdening, which causes hatred and enmity. The giver of interest sometimes has to fail and, as a result of debts that increase progressively, accepts kinds of disgrace and captivity.

Usury disturbs the equilibrium of the society and causes it to be divided into two poles: the oppressors and the oppressed.

OBJECTIVE OF ISLAMIC FINANCE Professor Mehmet Asutay says that “The entire objective of Islamic Economics and the operational aspect of Shari’ah is to serve ‘human well-being,’ which is the main and essentialized aim of all efforts within the tawhidi (One-God framework)” (2012:22).

WHY ISLAMIC FINANCE MAKES SENSE The key ideas behind Islamic finance including the belief in divine guidance, the no-interest rule, socially responsible investing, the sharing of risk, and the using of real assets to finance deals find resonance with all people desiring a moral economy, which works for the benefit rather than the detriment of the majority of humanity.

THE MESSENGERS

God’s messages were delivered to earth at different times in history through various messengers, the first being through Moses in the 13th Century, the second through Jesus who lived approximately between 4 BC – 30 AD, and in 622 AD through Muhammad (s.a.w.).

The deliverance of these messages through different messengers at different times of history was not meant to divide the believing people, however, believers should be unified through the stories of the Book, which correspond and correlate with each other in terms of events, characters, and messages and is in fact a continuation of the same story through different periods of time and history.

Let’s unite together in an effort for Holy Book Finance.

THE END