Muideen Olaniyi
12 November 2009
An Islamic cleric Dr. Ismaeel Yunus of Islamic University of Madinah Saudi Arabia has advised Muslims to distance themselves from usury (interest) in their daily transactions.
The scholar gave the advice while delivering a lecture at the three-day seminar organized by Organization of Tadamunul Muslimeen (OTM) in Ejigbo, Osun State.
Speaking on the theme of the theme 'Islamic Solution to Global Economic Crisis', Dr. Yunus explained that the mortgage loans widely practised in the United States of America (USA) contributed to the ongoing global economic meltdown.
He said this was occasioned by inability of loan beneficiaries to pay back their debts because of huge accumulation of interests.
According to him, this situation affected the US economy and those of other countries because their reserves at the World Bank are in dollars.
While admonishing Muslims to be cognisant of their duties to Allah, Dr. Yunus further urged them to be conscious of the need to pay Zakat and shun usury (interest) saying the former is a blessing while the later attracts Allah's wrath.
In his contribution, Shaykh Isa Akindele Solahuddeen observed that "most muslims are due for Zakat yet they neglect it and embark on Hajj which is the last pillar of Islam."
Highlight of the three-day Seminar was the launching of an Islamic Centre in Ejigbo called (Morkazi Khatimu Nabiyeen) which was affliated with An-nusrah International Organization (NIO) Kuwait.
Speaking on the Centre, OTM Imaam Dr. Qaasim Badmaasi said it was established with the purpose of preserving, protecting and remembering the legacies of Prophet Muhammad (SAW).
Be the first to Write a Comment!
Copyright © 2009 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
