NOTE ON BA’I
MUAJJAL
Ba’i Muajjal is
a credit transaction. An article is purchased on credit, i.e. with the price of
the article purchased to be paid at a later time. But this does not always
constitute riba. The Prophet (s) himself purchased
food-grain on credit. (See hadith quoted here-under). But it was not riba!
It is important for us to note, however that this credit (bai muajjal)
was quite different from today’s ordinary credit transactions because of the
following:
i) there was no increase in
price in consideration of credit. The reader should please note that all mortgages
for the purchase of cars or houses, etc., today are such that there is an
increase in price in consideration of credit. And that is riba!
ii) the debt was secured
through a mortgage, i.e. the price of the article purchased on credit was
essentially guaranteed in an article which was mortgaged. In the event that the
buyer of the article (on credit) were to die before the debt was redeemed, he
would die without a debt - since the mortgaged article would be sold in order
to recover the price of the article in the original sale.
iii) the article which was
purchased on credit was not such as admitted the possibility of future
complications and conflicts (such as a mango crop which was not yet ready to be
harvested).
As a consequence, there was
no riba in such a credit transition (ba’i muajjal). Thus
we find that the Prophet (s) himself entered into such a credit-cum-mortgage
transaction:
Aisha
(the wife of the Prophet) said that Allah’s Messenger bought food grains from a
Jew on the basis of deferred payment and mortgaged his armor to him.
(Bukhari. Muslim)
She said that when Allah’s Messenger died his coat of mail was mortgaged to a Jew for thirty sa's of barley (a sa’ being a measure of weight).
(Bukhari)
Credit involves debt. A
Muslim should never enter into debt which he does not possess the means to
liquidate, unless it be for grave necessity (i.e. for matters pertaining to
basic biological needs). Unsecured debt is something to be feared! Secondly
debt should not remain outstanding indefinitely. If a debtor cannot repay a
debt then the creditor is urged to accept whatever the debtor can pay and to
remit the balance (i.e. to write it off). Alternatively the debt should be
remitted after a reasonable period of time. In fact the Torah decreed a period
of seven yews for remission of debts.
There is however, an ominous
double standard in the prescription of the Torah which laudably requires that:
Every seventh year you shall
practice remission of debts. This shall be the nature of the remission, - every
creditor shall remit the due which he claim from his neighbor; he shall not dun
(i.e. insistently demand of the debtor the payment of a debt; even to the
extent of constant annoyance) his neighbor or kinsman (i.e. a fellow Jew) for
the remission proclaimed is of the Lord
(Deuteronomy:- 15:1)
but which then goes on to
declare a free hand with those who are not Jews:
You may dun the foreigner
(i.e. those who are not Jews); but you must remit whatever is due from your
kinsman.
(Deuteronomy:-! 5:1)
There is also a clear
indication of financial imperialism in what follows:
For the Lord your God will
bless you as He promised you: you will extend loans to many nations (i.e.
non-Jews), but require none yourself (i.e. from those who are not Jews); you
will (as a consequence) dominate many nations, but they will not dominate you.
(Deuteronomy:- 15:6)
Whoever did the rewriting of
the Torah which appears above must have had Satan himself as a guide! Verses
like these are the true Satanic Verses. What those ghost writers wrote
constitute a recipe for all of mankind to hate Jews; and for Judaism itself to
self-destruct. Those who are teamed and pious need to act decisively to
retrieve the pure religion of Abraham and the Truth revealed to Moses! The pure
religion of Abraham and the Truth revealed to Moses were corrupted and now do
not exist anywhere else in the world but in the Qur’an and the teachings of the
Prophet Muhammad (s).
2 - Increasing the price of
an article in consideration of deferred payment. This credit transaction is
known as riba al-nasi'ah;
From
Usama bin Zaid: The Prophet said: There is no riba except in nasi'ah (waiting).
(Bukhari)
This was the most common
form of riba in Makkah. The principle involved was that if you
had to wait for your money you deserved to get an additional amount. A debtor
was given an extension in time because he could not pay his debt on time. The
amount he owed was increased, however in consideration for the extension in
time.
If capital can increase in
consideration of time then money earn by itself, generate more money. No effort
will be required. But the Qur’an teaches that such is not possible. (Qur’an:
53:39) Money cannot increase without effort. When the law permits money to be
lent on interest thus recognizing that time equals money, then the lender lives
of the sweat of the borrower in much the same way that a pimp lives of the
sweat of a prostitute. When this form of riba permeates the
economy then the predatory elite lives of the sweat of the prostitutes. Money
in such an economy, will equate with power. Money will be king! And the value
of human labor will continuously diminish until labor will find itself at the
mercy of capital! That is the world today! Hunger creates the opportunity for
capital to rule the worker more surely than it was given to the aristocracy by
the legal authority of kings. All people are chained down to heavy toil by
poverty more firmly than ever they were chained by slavery and serfdom
The principle of price increase
in consideration of credit operates all over the modem capitalist economy.
Some may question our
opposition to "money increasing because of time” as a result of their
perception that the value of property and of goods also increase over time. In
fact the increase of price of an article, through inflation, does not indicate
an increase in value. Indeed in some instances a higher price may mask a lower
value. Price increase, because of inflation, is an indication that the value of
paper money is falling. The fall in the value of paper-money is itself a form
of riba since the one who possesses his wealth in the form of
paper-money will suddenly have lost pan of his wealth.
to be continued . . . .
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