Seminar on ISLAMIC LAW ON WHY PAPER MONEY IS PROHIBITED

Talk 1 - "The Fiqh of Dayn and its Origin. Why paper money can never be accepted as money in Islam?"

Saturday, 10 August 2024

This lecture will delve into the concept of dayn (debt or promissory note) and its origins within Islamic jurisprudence. It will address why paper money is incompatible with the Islamic definition of money. Key topics include distinguishing between dayn and ‘ayn (tangible assets), the principles governing the transfer of debts, and the strict limitations on using debts beyond private contracts, including the prohibition of using debts as a means of payment. Additionally, the session will explore the prohibition on the compulsory use of any form of money, the acceptance of foreign paper money, and the exchange of paper currencies.

Talk 2 - "The Fiqh of Riba and Paper money. Why Islamic banking is an abomination in Islam and it is haram even to be witness to what they do?"

Saturday, 17 August 2024

This lecture will address the concept of riba (usury) and the issues with paper money, highlighting why Islamic banking is considered haram (forbidden). Topics include a detailed analysis of riba, its forms, and the common misinterpretations of Riba al-Nasiah. The session will critique Islamic banking's concealed riba in paper money and discuss the Fiqh regarding its impermissibility. It will also explore how Islamic banking promotes riba among Muslims and provide a Tafsir (elucidation) on its prohibition. Strategies for eliminating banking in compliance with Islamic law will be discussed.

Talk 3 - "The Fiqh of Zakat on Paper Money, the Nisab of Zakat and related issues. Why paper money cannot be used to pay zakat to its recipients?"

Saturday, 24 August 2024

This lecture will explore the issues of paying zakat with paper money, focusing on the nisab (minimum amount) and related concerns. It will clarify that zakat for ‘ayn and dayn must be paid with ‘ayn, not dayn, and explain these terms within fiqh. The lecture will specify the nisab of zakat as 200 dirhams and 20 dinars, emphasizing this does not equate to their value in silver or gold bullion. It will highlight the differences between the mithqal and dinar and stress the obligation to mint the dinar and dirham as Shariah currency. The session will also discuss adapting existing zakat legislation to circumvent legal tender laws.

Talk 4 - "The Eradication of Paper Money and Riba: A Strategic Step-by-Step Approach"

Saturday, 31 August 2024

This lecture will outline a strategy for eradicating paper money and riba, emphasizing that fiqh is a guideline for political activism, not just a moral code. It will assert that the prohibition of riba is a divine command requiring its eradication. The lecture will address misconceptions about the difficulty of this task, arguing that the real obstacles are a lack of belief (iman) and cognition (aql). It will emphasize that victory against riba is assured, as Allah has declared war on its practitioners. The session will detail steps to eradicate riba effectively, stressing the inherent strength of the Islamic position and the reactive nature of its opponents.