The Deception of Islamizing the Bankrupt Capitalist Economy to Recycle it with Muslim Money!

The Deception of Islamizing the Bankrupt Capitalist Economy to Recycle it with Muslim Money!

Today, the Islamic intellectual arena is witnessing a sweeping and scorching intellectual fluidity in light of the fierce civilizational war against Islam and its nation. The West has summoned all its falsehood, falsification, blasphemy, distortion, fabrication, deception, and misguidance, and brought out all its idols and henchmen from its cups, and mobilized every foul-smelling lizard from its burrows, seeking to tempt the Muslims, distort their awareness, destroy their faith, and shatter their Islam, by concealing the truth of the great Islam with the falsehood and misguidance of its infidel and immoral secularism, by falsifying its vocabulary, forging its terms, and distorting its principles, rules, and controls, and re-sorting and distorting its ideas, concepts, and rulings, and causing trouble in distorting its connotations and meanings, and making mistakes in its language to be in line and merge with the disbelief of its secularism and capitalism.

In the face of the intellectual subjugation of Islam, the cultural bankruptcy of the West, its intellectual defeat, and its civilizational failure, the West re-sorted its papers and invented a new method in the cultural invasion of the Islamic arena, hoping that it would contain this sweeping Islamic intellectual tide.

Thus came the deception of Islamizing the concepts of the Western secular system in a desperate and futile attempt to re-market the stagnant secular product. Islamization, when investigated, is an intellectual distortion, a cultural falsification, a jurisprudential fabrication, and a civilizational distortion that aims to re-broadcast and disseminate the modernist secular distortion with vocabulary and terms from Islamic thought, Islamic culture, and Islamic jurisprudence in particular, after the Islamic vocabulary and terms have been hollowed out and emptied of their legal connotations and meanings, and secular contents and concepts are injected. This Islamized disbelief is presented as an understanding and open-minded diligence and modern innovation within the circle of Islam and from within the limits of its knowledge, and it is exported to us and thrown at us as a product from within our thought and culture and as material for our study and education. Thus, the patchiness of secularism's misguidance is clothed in the guise of Sharia, supported by documents from the jurisprudence of defeat, the crushing of reality, and the fatwas of paid sheikhs, and then the seduction and disbelief of its philosophy and culture are recorded in Islamic vocabulary, terms, and structures to be exported as part of Islamic thought and Islamic culture to the children of Islam.

One of the most important fields of this distortion and falsification of "Islamization" today is the field of capitalist economics and its capitalist financial transactions. The initial goal of the lie of Islamization was to legitimize the brutal capitalist system and its prohibited financial transactions, and then to try to absorb the shocks of the successive devastating capitalist crises, by pumping huge amounts of Muslim money (more than $3.25 trillion for 2023, according to reports issued by the Islamic Financial Services Board, and the market size is expected to reach more than $4 trillion by 2026 through the expansion of the (Islamic) banking sector and the increase in demand for Sukuk) into the bankrupt capitalist market to try to patch up the capitalist financial black hole (astronomical debts), as well as to contain and control this liquidity to make it an element serving capitalism and not opposing its current, and as a strategic goal and weapon in the civilizational war to contain the movement of principled Islam and its growing action in the nation, by marketing a false product (the false Islamic economy) and neutralizing and even isolating the Islamic economy from the arena of intellectual conflict and political struggle, and preventing the nation from true Islam and its true systems, including the Islamic economic system, while creating a class of intellectuals who are conciliatory towards capitalism and coexisting with it, and even defending its visions as part of their Islam, and then containing radical revolutionary change, by creating a formal and false Islamic economic model without prejudice to the essence of the capitalist structure, with the aim of giving Islamic legitimacy to capitalist financial transactions while maintaining the philosophy, usurious foundations, and capitalist rules as they are, and then marketing all this capitalist plundering and injustice as legitimate economic transactions and integrating all Muslims into this capitalist hatred.

Historically, this trend in Islamizing secularism and its capitalism began in the late 1980s to confront the harbingers of the Islamic renaissance and the manifestation of the principles of Islam and its civilizational project. With regard to the economic aspect, Western think tanks, universities, and capitalist institutions worked to design and disseminate a project to Islamize the concepts of the capitalist economy under what was later called the Islamic economy (the modern false one).

The British University of Oxford has embraced advanced research on Islamic economic thought within the Center for Islamic Studies that it established, and what was called Islamic economics was taught as part of Middle Eastern studies and ethical finance. Likewise, the American Harvard University, which established the "Islamic Finance Program" and made it a department in the Faculty of Law, and hosted major conferences on its modern Islamic economy in the 1990s. Likewise, the British University of Durham, which was one of the first Western universities to launch a master's degree in Islamic economics and finance, and established a specialized research center for this purpose. Likewise, the International Institute of Islamic Thought in Washington contributed to integrating Western (social) sciences and capitalist economics under the umbrella of the Islamic economy, in educational curricula as a subject of Islamic culture after wrapping it in an Islamic veneer, and produced textbooks and founded university programs in Malaysia, Sudan, Indonesia, and America under the deception of Islamizing knowledge.

Then there are the Western capitalist financial institutions such as Citibank, the American financial ghoul, and SBC Bank, the British bank, which have created (Islamic) departments within the banks as well as academic training to specialize in the modern financial transactions within the modern false Islamic economy, and they have also financed university programs to market the new capitalist secular product (the Islamic economy). Western think tanks and strategic studies, such as the American Brookings Institution and the British Royal Institute of International Affairs, also undertook to publish and promote studies and research related to the modern false Islamic economy. The International Monetary Fund and the World Bank had a practical role in transforming the ideas of the modern false Islamic economy into policies, and called for the inclusion of the outputs of this economy within the economic and educational programs of the existing countries in the Islamic world, and the Fund and the Bank had conducted studies on the role of Islamic finance in financial stability (meaning the recycling of the bankrupt capitalist economy with Muslim money).

Indeed, the policies of the International Monetary Fund and the World Bank related to the modern false Islamic economy have been transformed into policies for the existing regimes in the Islamic world, and regional institutions have undertaken to include it as an academic specialization and as international economic projects, and intellectual and economic institutions have been established and formed that have been stamped with an Islamic character, and the Organization of Islamic Cooperation led the process of marketing the capitalist product in the name of the Islamic economy and established jurisprudential bodies to clothe the capitalist product in the guise of Islam, then marketed it and promoted it through conferences and training courses and financed financial and academic projects and institutions for this purpose.

Then the "Islamic" banks hatched afterwards, along with the need for specialized frameworks, so they created departments, divisions, curricula, and certificates in local religious universities and institutes and Western universities.

The model in the Maghreb countries is a standard case to be measured against; the Islamic studies departments were established in the late 1980s and early 1990s in Moroccan universities to include modern courses such as the modern Islamic economy within the framework of what was called keeping pace with modernity and modernization. Its teaching has become part of the contemporary curricula in the postgraduate stage as a branch of economics or as a branch of Islamic studies (master's, doctorate), and Islamic economics has been included in university departments as an independent specialization in Mohammed V University in Rabat, Fes University, and Tetouan University, and the procedures have intensified after the regime's full involvement in the policies of the International Monetary Fund and the World Bank related to the modern Islamic economy, and the regime established what is called participatory banks as a type of "Islamic banks" under the supervision of the Bank of Morocco in terms of banking laws and regulations, and the Supreme Scientific Council undertook to stamp them with an Islamic character through fatwas on demand and sheikhs and academics for rent and employment to legitimize the contemporary capitalist financial systems.

This modern false Islamic economics has nothing to do with Islam or jurisprudence, but its philosophical root is capitalist economics and its schools and intellectual doctrines, and its circle of employment is almost capitalist financial transactions of banks, companies, and capitalist stock exchanges. The curricula of the departments of economics in universities in the Islamic world are evidence of this (Al-Quds University, Damascus University, the Institute of Islamic Economics in Kuwait and Saudi Arabia, Mohammed V University in Morocco) whose materials are almost a single copy of the Western original and its topics are the same, revolving around: Foundations of finance - Monetary and financial economics - Law of Islamic companies and banks - Banking and insurance legislation - Financial transactions - Sukuk - Designing financial products - Corporate finance - Financial markets - Banking and insurance techniques - Portfolio and market management - International finance - Investment management - Accounting and taxes - Risk management... Its circle of concerns is, in short, the bank and its transactions, the stock exchange and its shares and bonds, and then insurance.

All these topics in their reality are contents of capitalist products formulated with an Islamic cover and benefited from the cultural fragility and the weakness of the understandings of the children of Islam, especially their complete ignorance of the nature of the economic system in Islam, so the concepts of capitalist economics were circumvented with an Islamic cover and veneer; circumventing the bank by calling it an Islamic or participatory bank, and usurious transactions are Murabaha, Musharaka, and Mudaraba, and the stock exchange has become an Islamic financial market, and its shares and bonds have become Sukuk, and insurance has become Takaful insurance!

The topic of Islamic economics has ended up as a modified version of the Western capitalist economy with circumvention of its usurious transactions, contracts, banks, companies, and capitalist institutions, and their modification and concealment with terms from Islamic jurisprudence (Murabaha, Mudaraba, Bai' al-Salam, Sukuk...) to target the Muslim customer, which is a circumvention process designed and created by Western circles and in which colonial regimes have engaged by promoting it and marketing it through academics who have been prepared for such a mission and sheikhs for rent and employment to issue fatwas on demand and analyze the invalid and prohibited capitalist transactions.

The practical reality is what exposes the truth of the malicious capitalist goal behind the "Islamic economy" policy. The essence of the capitalist goal is to legitimize capitalist banks, the engine of the capitalist economy and the machine for harvesting the profits of its capitalists, and to generalize the capitalist model in banking and financial transactions to all Muslims without reservation or caution from Sharia prohibition.

Here the field exposes the facts. The market for Muslim money targeted by the capitalist market exceeded $3.25 trillion ($3250 billion) in 2023, according to reports issued by the Islamic Financial Services Board, distributed by sector as follows:

- The (Islamic) banking sector represents 70% of the total market with a volume of nearly $2.3 trillion

- Sukuk (Islamic bonds) represent 17% of the market size with more than $560 billion

- Investment funds (Islamic) represent between 4 and 5% of the market size with about $150 billion

- Insurance (Takaful) has a volume of about $25 billion

We are facing purely capitalist financial transactions that will not find any legislative root in Islamic jurisprudence and have no relation to the Islamic economic system or its pure Sharia rulings. Rather, it is a major manipulation and circumvention of the huge amounts of Muslim money to pump it into the Western capitalist market under the cover of jurisprudential fabrication and legislative falsification. Usurious transactions have been classified under Murabaha, Mudaraba, and Bai' al-Salam, and usurious bonds have been classified as Sukuk (a bond is a debt for a government or company that issues it in exchange for obtaining liquidity from the buyer in exchange for a usurious percentage when recovering the original amount from the buyer). Capitalist insurance is classified as Takaful insurance!

Witnesses from the people of this modern false Islamic economics have testified to its capitalist reality. The International Islamic Fiqh Academy revealed that up to 85% of Sukuk do not actually adhere to Sharia, which reflects implicit collusion to give a "false legitimacy." Professor Faisal Khan of New York University Hobart confirmed that Murabaha contracts, which constitute 80% of global (Islamic) financial transactions, do not agree with the principles of Sharia, as they are practically very similar to usury. The Murabaha that is practically applied is in fact a benefit on debt, as it is a fixed profit return without risk or participation in profit and loss, which is the essence of usury, and all that theorizing about Murabaha has nothing to do with the practical reality, and another considered that Sharia sheikhs are just a media decoration for the capitalist product. As for Sukuk, they are capitalist bonds and their return is the essence of usury, and the tricks of Murabaha, Mudaraba, Bai' al-Salam, and mortgage do not change their capitalist reality, as for insurance, it is the essence of the invalid and prohibited capitalist contract, and melting its fat in the pot of Takaful does not make it permissible or remove its prohibition, as for the Islamic financial market, it is the essence of the capitalist stock exchange and the gharar of its shares and invalid capitalist transactions (such as the stock exchanges of Malaysia, Saudi Arabia, the Emirates, Bahrain, and the newly established Morocco, which are classified as "Islamic financial markets"), all of which mimic the transactions of Western capitalist stock exchanges.

Accordingly, it was necessary for us Muslims to be fully vigilant and aware of the West's plots and its intellectual and civilizational war, for how can our enemy's cunning and deceit and its civilizational war against us increase in ferocity?! Based on this, we return to dismantling some of the knowledge mines to be free and detached from the relations of Western secular thought and its modern false Islamic economics, and to establish a pure and clear Islamic vision related to our true Islamic economic system derived from the Book of God and the Sunnah of His Prophet ﷺ and what they guided to of consensus and analogy.

First, it is necessary to define the seeds and roots of the Western capitalist economic system to understand the truth of its disbelief, invalidity, and corruption. Its mother seed is the secular belief in separating religion from life and politics and its systems, so it is a man-made economy detached from the revelation of heaven, hostile to God's law, and its cultural root is the freedom of ownership, from which the terms liberal economics, free economics, market economics, and capitalist economics were generated.

The foundations on which the capitalist economic system is based are three foundations:

Relative scarcity: It is the inadequacy of the limited goods and services to satisfy and meet unlimited needs.

Value: It is the economic importance and benefit that an individual or society bestows on money. A thing is considered economically beneficial as long as there is someone who desires it, whether it is necessary or unnecessary, just as it does not matter and this desire should not agree with values or ethics or be objected to by legal rules or health controls, as it is free from any condition or restriction.

Price: It is what controls the mechanics of the market, production, consumption, and distribution.

Accordingly, the basis of the Western capitalist economic system is to address that supposed relative scarcity by increasing production to provide more goods and services. The concern and preoccupation of the capitalist is more production (accompanied by more profits for the capitalists). The issue in the capitalist economic system is the substance of wealth and the profits of its owners, while the issue of man and satisfying his needs and meeting his hunger is secondary, left to whoever owns the price.

Then the destructive cognitive defect in the capitalist vision, and before it the invalidity and corruption of the secular belief in its claim to isolate the Creator from the affairs of His creation and then strip them of all values by freeing them from any moral responsibility through freedom of ownership, is also in its assumption of a false and non-existent problem that led to the hatching of problems branching out from it. The assumption of relative scarcity led to an excessive increase in production, and even to the production of what is not needed, which led to a surplus in the product, which generated monopoly, hoarding, speculation, destruction of crops and goods, and obliteration of efforts to control supply and thus profits.

The West invented the mechanism of the bank for the codified, organized, and generalized usurious debt, to provide the price and consume the surplus of the product. The means replaced the philosophy, so the bank became the price in the capitalist economic cycle and the engine of its wheel, production, consumption, and distribution, and the bank became the cornerstone of the Western capitalist economic system.

The bank is a purely capitalist product, and its Islamic replication and the granting of legitimacy to it through some subterfuges such as the name "Islamic bank" and the arbitrariness and affectation in naming some of its transactions with Sharia terms such as Murabaha, Mudaraba, mortgage, and Bai' al-Salam... does not remove its philosophy and origin from it. Its genes are purely capitalist, and every attempt at replication is pure nonsense, a blatant jurisprudential fabrication, and a heinous cultural distortion. The same applies to the stock exchange and its bonds and shares, as well as insurance. Those fabrications (the Islamic financial market, Sukuk, and Takaful insurance) did not remove from them their malicious capitalist spirit.

We are still spinning in a vicious circle, prisoners of the cage of the Western capitalist system in economics specifically. The capitalist economy is one of the greatest calamities that the nation has been tempted by and the most severe of what it suffers from poverty and misery as a result of the ideas of capitalism related to economics. Affected by such thought and reality, the term Islamic economics as it is presented today is nothing more than a veneer beneath which lies the rubble of the Western capitalist economy, trying in vain to refine it, soften it, tame it, and domesticate its wildness. The West's economic capitalist philosophy is what controls this modern false Islamic economics. The capitalist economy is the evil fruit of the West's infidel secular system, so it is a part of its disbelief.

In vain and futilely, some try to extract a vision of the economic system in Islam from the cultural and secular disbelief of the West, as it is the essence of intellectual shallowness, cultural defeat, and knocking on the door of apostasy. Islam is a complete and uniquely built system of revelation with its own special, unique, and distinct cognitive pattern, and it has its own rules and tools that are relied upon to reveal the treasures of revelation and derive its Sharia rulings and systems. The basis of the systems of Islam is revelation, in contrast to the man-made secular system and its systems.

Therefore, it was necessary to clarify the matter of Islamic economics so that we can get out of this cultural bewilderment and the cognitive whirlpool that has turned some into channels and bridges to discharge the capitalist secular product while they think it is Islamic jurisprudence and they think that they are doing well!

It must be realized that the economic system in Islam is the sum of the Sharia rulings derived from their detailed evidence that address the relationship of man to wealth: possession, disposal of it, and distribution of it. The substance of wealth is money and human effort. Accordingly, the basis on which the economic system in Islam is built is based on rules that are: ownership, disposal of ownership, and distribution of wealth among people.

Our saying Sharia rulings derived from their detailed evidence means that the process is a purely Sharia jurisprudential process, and the owner of the tool, meaning the diligent jurist, is the one authorized by Sharia and knowledge with what he possesses of tools to derive such rulings. The issue is a jurisprudential legislative issue and not a linguistic creation or a technical artistic opinion, whatever its cognitive root. The jurisprudential issue in Islam is very precise and its fence is strict, based on the sources of legislative revelation; the Book and the Sunnah and what they guided to of consensus and Sharia analogy, and the tool for its deduction is diligence disciplined by the rules of Sharia. The economic system in Islam is a purely jurisprudential issue and its owner is the diligent jurist exclusively and exclusively. It is an intellectual shallowness to imagine it as a technical issue and an issue of calculations, data, and figures, for this is the essence of ignorance, even ignorance of God's law and of the legislative nature of the systems from being a branch of their legislative root and the philosophy of their system. More heinous than that is the folly in imagining the economic system in Islam as a replication of the infidel Western capitalist system with a change in names (Islamic names).