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CHAPTER1

IN SEARCH OF RIBA FREE FINANCIAL SYSTEM

All praise is due to the Almighty Allah Blessings and Peace be upon our HolyMessenger of Allah and the Leader of the magnificent honorable.

The movement for elimination of RIBA from the financial system now developsinto the one and only opened door for the upturn of humanity from the dryness ofmaterialism and spiritual bankruptcy in which it has become apparent. Greatnumber of Muslim and non-Muslim jurists, economists, thinkers and financialprofessionals have accepted this reality to the extend that the certainty ofsolution to introduce RIBA Free Financial System turn out to be collectivelyapproved case.

Islam is the religion that teaches Muslims that prior to others liabilities andresponsibilities, they should develop then and crop the determination of men andthe loyalty of struggle. A first responsibility is the practical belief of the glory ofIslamic applications, their influence and ability to fill the gaps in the life with mostimportant is the scope of economic activity.

With a majority and having any reservation in Allahs reward and destiny, Muslimshould confirm the practicability of the concept, strength of principles and basis ofIslamic Economic in the life of people and the community with the application tobe materialized through the Interest Free Financial Institutions.

Within few years many Interest Free Financial Institutions emerged in the Islamicand non Islamic countries. Muslims with the teaching of Islamic Economicsshould struggle hard to attain new positions in the financial market. If theycontinuously able to achieve strong and effective positions in the application andpractice, they not only benefited by the bounty of Allah, but also eliminate the evilto the humanity and mankind and reach to a stage where their ability cannot berejected or denied due to the genius of their economic intelligence and theirstrong grip on the RIBA Free Financial System cannot be diminish in value ordisregards by any.

It is beneficial and develop a chain of cooperation among Muslim Ummah to

establish an association among the existing Islamic Financial Houses to keep asprit of support among each other., The secretariat of the association should bethe organization that takes care of the idea, gives consultations, offers supportand make every effort for spreading the idea of these Financial Houses inaccomplishing new positions in the financial market of the world. In the subject ofspreading the idea of RIBA Free Financial Houses and being convinced withthem, the association direct towards the right path and to be a guide-work for theIslamic banks and for those who are seeking to establish new Islamic Banks.

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