- INTRODUCTION
- THE BOOK UNDER SCRUTINY
- THE FATWA OF MUFTI KIFAAYATULLAH SAAHIB
- MUFTI TAQI SAHIB IN CONFLICT WITH THE PRINCIPLE OF THE FUQAHA
- MUFTI TAQI SAHIB'S IMPROPER DEFENCE OF THE CAPITALISTS
- THE EXAMPLE OF THE MUDHAARIB AND RABBUL-MAAL
- KHALTATUSH SHUYOO'
- EVERY TA'WEEL OF MUFTI TAQI SAHIB IS UNPRINCIPLED
- THE SHAR'I STATUS OF SHARES
- HADHRAT THAANVI'S SUPPORT?
- THE VIEW OF SHAIKH SIDDIQ DHAREER
- SOME TRANSACTIONS OF THE BANKS
- PENALTY ON LATE PAYMENT
Presently our attention is focussed on the aforementioned book. I ampresenting some comments on this book to readers to make the realityof this book conspicuous for those who have become involved inthe trade of shares on the basis of Mufti Sahib's fatwa so that theymay understand the difference between Haqq and baatil, and dissociatethemselves (from this unlawful trade).
The Kitaab of Allah Ta' ala, The Qur'aan-e-Kareem is the Law untilQiyaamah. Its exposition in the form of the Sunhah is sufficient andclear until the Day of Qiyaamah. The Risaalat of Rasulullah(sallallahu alayhi wasallam) will endure until Qiyaamah. It devolvesas an obligatory duty on us as Muslims to keep in view the principlesof the Shariah in every department of life. It does not behove us tofirst innovate an act to satisfy our desire, then by adding the word,'modern' seek to legalize it by taking support of erroneous interpretations.
This is precisely what has transpired in trading on the stock exchangeand this is what is happening presently. Mufti Sahib has named it(stock exchange) Bazaar-e-Hisas (the market of shares). He hasmade the abortive attempt to legalize it by means of interpretations.In his book he has further offered capitalists the protection of immunityagainst debt. In the event of the company going bankrupt, thedebts cannot be claimed from them (the capitalist shareholders in the company).
Mufti Sahib has also said that to make persons owners of capital theirverbal statement of security suffices. Whoever becomes a buyer ofshares only verbally (not by intention), in exchange for this verbalaverment he will be given capital Mufti Saheb has said that even ifone has no intention of being a buyer, then too he becomes a buyer ofshares merely by a verbal statement. This is permissible, according toMufti Sahib, as will be mentioned later. (We have not understood thepurport of this contention—translator).
According to his own confession which will be mentioned later,these companies also deal in interest, but there is no control overthem. Despite this, trading in company shares (on the stock exchange)is permissible according to Mufti Sahib. But the commandof the Qur'aan-e-Kareem is:
"Take notice of war from Allah Ta' ala and His Rasool"
What need do Muslims have for indulging in usurious transactionswhich are accursed? Allah Ta'ala declares:
"Allah destroys riba and causes Sadaqaat to flourish."
There is destruction in interest. Many people in these times who havebeen destroyed in consequence of their participation in share-trading,and the country (Pakistan) has become a pauper. This is the consequenceof diversion from the Command of Allah Ta' ala.
The motive for all these (liberal) opinions is the desire to be knownas 'scholars' and to be proclaimed experts in modern research. This istantamount to saying: We have no affinity with orthodox Islam.There is an outstanding attribute of simplicity in the Tareeqah (Way)of Rasulullah (sallallahu alayhi wasallam). This simple system precludesthe capitalists from augmenting their capital by means of sattahbaazi, and snatching the little capital of the masses by makingthem ignoramuses.
