The reason of economic crisis is economic immorality


The reason of economic crisis is economic immorality

Added date : 2015-10-22 14:44

SAKARYA - Speaking in the conference held in Sakarya University Prof. Dr. Ali Karadagi chairman of World Scholars Union said, the real reason of economic crisis is economic immorality and mentioned the importance of Zakat.

The reason of economic crisis is economic immorality

Speaking in the conference of Islamic Economy and Finance held in Sakarya University Prof. Dr. Ali Karadagi, the chairman of World Scholars Union, said the whole zakat of all Muslims in the world is about 400 billion dollars and if this zakat can be used as an investment for development of Islamic countries, the poverty will end in these countries.

Numerous academicians attended the conference.

Ali Karadaği one of the academician of Qatar University and chairman of World Scholars Union underlined that, “There is a balance in the creation of human being so there must be a balance in economy, too.”

 “The reason of economic crisis is economic immorality”

Saying that Human being cannot engage his creation balance by himself, Karadaği “Recently we have seen Islam inclining to economy. So as to the world economic circumstances there need a third economical system. This system must be enclaved by moral values. The main reason for economic crisis is because of economic immorality. Our education institutions and our banking systems must lean on moral values. Islamic Economy model regards personal property and the owner of the property. On the contrary in Communist System personal property isn’t regarded.” said.

“Some rules used in western economies excerpted from Islamic rules”

Karadaği said that, “When we glance at Islam we see a universal view. Thus, there we see Islam focuses human being. In Islamic state there is system protecting farmers, producers and human. We must also discuss how to raise productivity. Some laws currently used by western states were excerpted from Islamic rules and there is no any reservation to take them back that this is an attempt to back our basis.  When we have a glance at our Prophet’s life, we see His establishment for a agricultural- industry market for muslims. So as to say He tried to build a balance between rich and poor people.”

“Interest harms not only individuals but also society”

Stating that Interest mustn’t be considered as an individual damage, Karadaği also underscored the social disadvantages of Interest. Saying that Interest was forbidden due to being a major cause of poverty, Karadği said that, “Interest satisfies the opposite side. Though the prevalence of Interest has been about a hundred years it destroyed the world economy.  According to a research the 50 % percent of the world income is being held by 20 enterprises. Another reason of being forbidden of Interest is that Interest carries opportunism in its body. This reason aims to absorb the other sides.”

As his last words Karadaği said that, “The total amount of Muslims’ zakat is about 300-400 billion dollars. If we use this amount of money on new investments and development there wouldn’t any poor in our countries. At that sense we mustn’t belittle Zakat. Zakat provides a balance between state, individual and markets.” (ILKHA)

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The reason of economic crisis is economic immorality

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