Three Relationships

Abstract

A masterful, stimulating lecture, entitled “Islamic Finance: Challenges and Opportunities”, by Dr Abbas Mirakhor, an International Monetary Fund (IMF) Executive Director, at IAIS on 30 June 2010 got me thinking. He subjected the enterprises of finance to one single question: Is it trade, which Allah has made lawful, or riba - usury - which Allah has prohibited? This question is not limited to Muslim-majority countries or Islamic governments. It is rather universal, as the Qur’an, from the perspective of Islam, is meant to be for all mankind, as the Prophet was sent to all mankind.