Islam guarantees interest of everyone, says Sherani

Lahore

The Islamic economics system guarantees interest of every human being rather than protecting interests of a few segments. 

This was stated by Council of Islamic Ideology former Chairman Maulana Muhammad Khan Sherani while addressing a seminar organised by Punjab University Institute of Islamic Studies (IIS) in its auditorium.

Faculty of Islamic Studies Dean Prof Dr Tahira Basharat chaired the seminar while IIS Director Prof Dr Muhammad Saad Siddiqui, faculty members and a large number of students were also present.

Maulana Sherani said that imperialism and communism represented two extremes as one system favored owners or investors and the other empowered labourers. He said that imperialism allowed owners to promote their goods unchecked while communism stressed upon controlled economy under the government.

He said that Islamic economic system is a moderate system derived from the directions of Allah and Sunnah. He said that in communism, rights of labourers were saved through organisations and the ownership of land was given to the government. 

He said that Islam not only accepts all factors of productions rather it rejects the notion of complete government or personal control over them and advocates government’s control over aspects of their losses. Maulana Sherani said that both contrary systems represented human interest and were result of human thoughts while Islamic economic system is an integrated and comprehensive system given by Creator of the universe.

He said that Islam forbids concentration of wealth by promoting alms and Zakat while imperialism and communism focused on concentration of resources and wealth. He said that Islam prohibits hoarding and instructs to facilitate consumers. He said that Islam has also introduced interest-free loan, alms, donations and lending/borrowings. He said that Islam strongly discourages creation of artificial shortage of goods and overcharging.

Dr Saad Siddiqui lauded Maulana Sherani for comprehensively presenting the three economic systems in the lecture. He said that both contemporary economic systems reflected bias and extremism while Islam presents a moderate economic philosophy.

He said that it was unfortunate that the world was not aware of the message clearly given by Hazrat Muhammad (PBUH) in his life. He said that the teachers of IIS would make efforts to promote this ideology. 

Mayor: The lord mayor of metropolitan corporation Lahore on Tuesday directed his team to check violations of building bylaws besides ensuring implementation of the related laws.

He direct his team while chairing a meeting which was attended by all deputy Mmayors and other public representatives. 

Officials said Lord Mayor Lahore Col (R) Mubashir Javed directed all the deputy mayors and civil administration to work like a team to bring about positive change for development of the city. He also directed the officials to work wholeheartedly and honestly.

He said new development schemes would be prepared for the city. He directed the deputy mayors to start drives against encroachments, environmental degradation and other issues in the city. He said he would not tolerate any negligence in this regard.