The Great Event Has Occurred : New,
'Usury has Become Permissible'!
[A5] Paperback - 132 pages,
by Imam Muhammad at-Tawil [d.1436h],
Translated by Mahdi Lock,
Published by Foreword Publications.
The Great Event has Occurred : Usury has become Permissible!
Any fatwa (religious edict) allowing bank interest, whether taking it or giving it, is an invalid juridical opinion, an affront to the Islamic Revealed Law and a slander against it, if not an objection and outright opposition to it.
It is also an immense service to usurious banks, a priceless gift that they have waited for and yearned for a very long time. On the one hand, it destroys the religious barrier that Islam had placed between the Muslims and the usurious banks, protecting them from their greed and exploitation and from their economies and destinies being controlled.
On the other hand, it conscripts the Ummah to serve imperialistic capital by providing its banks with sufficient monetary liquidity, so that they can expand their activities and consolidate their monopoly, after which they can acquire further fixed benefits. This is how they eat the profits of those who save and exhaust the efforts of those who invest and borrow, and they appropriate Muslims’ wealth because of fatwas given by Muslims.
Imam Muhammad at-Tawil :
He is Muhammad ibn Muhammad ibn Qasim ibn Hassan at-Tawil, rahimahullah. He was born in the city of 'Ein Baridah in Morocco. His first teacher was his father, Imam Muhammad ibn Qasim, who was a great Imam in the sciences of recitation of the Qur'an & other fields in the revealed law.
Imam Muhammad at-Tawil memorised the Qur'an whilst still a young boy and went onto study with another great scholar by the name of Shaykh Muhammad al-Arabi al-Masari. He then went onto study at the renowned University Al-Qarawiyyin.
Amongst his teachers :
---Imam Muhammad ibn Qasim,
---Shaykh Muhammad al-Arabi al-Masari,
---Shaykh Abu Bakr Jasus,
---Shaykh Muhammad al-'Imrani az-Zarhuni,
---Shaykh 'Abd al-Karim ad-Dawudi,
---Shaykh al-Arabi al-Shamsi,
---Shaykh 'Abd al-Aziz Bil-Khait,
---Shaykh 'Abd al-Hadi al-Yaq'ubi Bakhubza,
---Shaykh Habib al-Mahaji,
---Shaykh ibn Abd al-Qadir al-Baqali,
---Shaykh Muhammad al-Imrani,
---Shaykh 'Abd al-Karim al-Iraqi,
---Shaykh al-Faqih al-Ghumari.
As a teacher of Fiqh and Usul from the University of Al-Qarawiyyin, the Imam has showed great courage in tackling some of the most thorny and controversial issues of this current time. The Imam is the marja' of the land, head precaher and teacher for the Moroccans as well as North Africa. His forceful stance on issues immediately surrounding the Revealed Law has made him a hero and champion to all who love knowledge and the truth.
Shaykh Mahdi Lock :
Mahdi Lock is a teacher,
student, blogger, writer, and professional freelance translator of
classical Arabic Islamic texts into English. He has been studying
theology, law and other Islamic sciences for several years with teachers
in England, North Africa and the Middle East.
To date, his translated works include :
---Kitāb al-Ḥalāl wa al-Ḥarām by Imam Abū Ḥāmid al-Ghazālī,
---Kitāb al-Waqf from al-Mughnī al-Muḥtāj by al-Khaṭīb al-Shirbīnī,
---The introduction to al-Majmūʿ by Imam Yaḥyā al-Nawawī and,
---Sharḥ al-Ṣudūr by Imam Jalāl al-Dīn al-Suyūṭī.
Table of Contents :
---About the Author :
---Foreword by Ustadh 'Ali al-Filali,
The Great Events has Occurred :
---. The First Justification : Bank transactions are a modern form of transaction that were completely unknown to previous fuqaha'
---. The Second Justification : They say, "There is no clear text in the Qur'an and Sunnah that declares this transaction unlawful."
---. The Third Justification
: They say, "Bank transactions are not lending, & whatever money the bank receives from its customers cannot be called a loan such that it would fall under the prohibition against lending with a surplus."
---. The Fourth Justification : Some say that a bank transaction is a sleeping partnership (mudarabah) or some type of investment, & that they deposit their money in the bank with the intention of investing it.
---. The Fifth Justification
: They say that bank transactions are sleeping partnerships & these are in accordance with what the partners agree to & consent to.
---. The Sixth Justification : Some of them say that a bank transaction is the same as commissioning another to do something (wakalah), & can invest it in what Allah has declared lawful & he is satisfied with whatever comes back to him ; profit.
---. The Seventh Justification : They say that if the ruler sees nothing wrong with banks specifying the profits in advance then there is no harm in it.
---. The Eighth Justification : Necessity (darurah).
---. The Ninth Justification : Following the school (madhhab) of Imam Abu Hanifa in allowing usury during war (dar al-harb), based on the fatwa of the European Council, which has permitted Muslim's in Europe to buy homes by way of usurious bank loans.
---. The Tenth Justification : The claim that interest-bearing loans remove difficulties for Muslims and make their transactions easier for them.
---. The Eleventh Justification : To cling to the outward purport of the Exalted's statement; "You who Believe! Do not feed on usury, multiplied & then remultiplied."
---. The Twelfth Justification : To say that taking out a mortgage to buy a home has an undoubted benefit for the borrower embodied in the ownership of a home in the end, & in that he is exempt from taxes for the duration of the loan.
---About the Translator.
Dimensions : 21 x 15cm.