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Sunday, May 03, 2009

Shar’i analysis of the financial crisis

Praise be to Allah.

It is obvious to everyone that the financial crisis is shaking the entire world, East and West. It is a serious event that is giving the politicians, decision makers, prominent thinkers and economists sleepless nights. It is a huge calamity that is very complex and has many implications, which explains the great turmoil being experienced by economists and politicians, and it also explains why so much is being written about it, analyzing it from different points of view. They are in a state of great confusion, and some of them have started to blame one another for what has happened.

This crisis requires some explanation in order to highlight some important shar’i aspects that have to do with it.

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