Shar’i analysis of the financial crisis
Question

                What comments does the eminent Shaykh Muhammad al-Munajjid have to make about 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, analysing 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.

    1.The crisis is real

    It has led to the collapse of major banks and financial 
    institutions; international stock markets have declined, trillions of 
    dollars have evaporated, billions have disappeared from the financial 
    markets, many countries in the world have hit rock bottom, millions have 
    lost their wealth, be it in the form of shares, savings or investments; the 
    investments of the American people in the stock markets have lost $4 
    trillion. This crisis has become like a tsunami, striking the economies of 
    many countries. 

    2.“the roof fell down upon 
    them”

    Economy and money are the main foundation of Western society, 
    and when they were content with that and forsook the laws of Allaah, 
    “Allaah struck at the foundation of their building, and then the roof fell 
    down upon them, from above them, and the torment overtook them from 
    directions they did not perceive” [al-Nahl 16:26]. 

    What we are seeing today of large scale destruction is about 
    to utterly destroy them. The economic structure that they boast about and 
    think will protect them has become the cause of their turmoil and decline. 
    The calamity has come to them from above and from below. They thought that 
    their financial system was perfect but from that system has come that which 
    they never expected. “and the torment overtook them from directions they 
    did not perceive”. 

    3.“Say (to them), ‘It is 
    from yourselves (because of your evil deeds)’” [Aal ‘Imraan 3:165]

    Just as calamities and disasters have known, tangible causes, 
    they also have spiritual causes. The fact that there are tangible causes 
    does not contradict the fact that there are spiritual causes too. 

    Oppression, transgression, sin, disobedience to Allaah and 
    denying the rights of others are all causes of calamities befalling people 
    at both individual and group levels, and even at the global level on 
    occasion, as we are seeing in this crisis which involves calamities one 
    after another. 

    “Evil (sins and disobedience to Allaah) has appeared on 
    land and sea because of what the hands of men have earned (by oppression and 
    evil deeds)”

    [al-Room 30:41] 

    “And whatever of misfortune befalls you, it is because of 
    what your hands have earned. And He pardons much”

    [al-Shoora 42:30]

    In the saheeh hadeeth it says: “When zina (fornication, 
    adultery) and riba (usury, interest) appear in a town, then they have 
    brought the punishment of Allaah upon themselves.” Narrated by al-Tabaraani 
    in al-Kabeer and classed as saheeh by al-Albaani in Saheeh 
    al-Jaami’ (679). 

    What has befallen the people is not a problem from heaven; 
    rather it is a calamity that has befallen them because of their sin and what 
    their own hands have wrought.  

    4.Allaah gives respite but does 
    not forget

    He gave them respite whilst they were dealing in riba and 
    consuming it doubled and multiplied (cf. Aal ‘Imraan 3:130) and waging war 
    against Him for so many years, until He punished them with shortness of 
    crops and destruction, as He did with Pharaoh and his people before: “And 
    indeed We punished the people of Fir‘awn (Pharaoh) with years of drought and 
    shortness of fruits (crops), that they might remember (take heed)” 
    [al-A’raaf 7:130]. 

    The Prophet (blessings and peace of Allaah be upon him) said: 
    “Allaah gives respite to the wrongdoer until, when He seizes him, He will 
    not let him off.” Then he recited (interpretation of the meaning): “Such 
    is the Seizure of your Lord when He seizes the (population of) towns while 
    they are doing wrong. Verily, His Seizure is painful (and) severe” [Hood 
    11:102]. Agreed upon. 

    No one should think that Allaah in His exaltedness, might and 
    power is leaving these people to wrong others and rebel (disobey Allaah) in 
    the earth wrongfully (cf. Yoonus 10:23), disbelieving in Him and committing 
    every major sin, then He will not send down His wrath and punishment. 

    5.The destiny of falsehood is to 
    weaken and diminish

    No matter how high it rises, there will come a day when it 
    will inevitably be brought low. This is one of the laws of Allaah that never 
    changes. “It is Allaah’s promise that nothing rises in this world but He 
    will bring it down.” Al-Bukhaari, 2872. 

    The Westerners occupied the pinnacle of the global economy, 
    and they said: “Who is stronger than us?” so Allaah brought them down from 
    their financial fortresses and citadels, and instilled fear in their hearts 
    and exposed the falseness of their claims. 

    6.Breaking of the stick of the 
    Western world

    The woodworm of riba and haraam financial conduct has eaten 
    away the stick on which the Western world was leaning and giving the world 
    the impression that it was strong and standing upright, when in fact it was 
    leaning on a stick that was rotten from the inside so when it fell it became 
    clear to the jinn and mankind, east and west, that the structure was hollow 
    and the foundations were rotten and cannot be saved or restored. The German 
    Minister of Finance, Peer Steinbrueck, stated: “The world will never go back 
    to the way it was before the crisis.” 

    7.Allaah declares war on riba

    “O you who believe! Fear Allaah and give up what remains 
    (due to you) from Ribaa (from now onward) if you are (really) believers.

    279. And if you do not do it, then take a notice of war 
    from Allaah and His Messenger …”

    [al-Baqarah 2:278-279]

    This war is being manifested today in many ways: on hearts 
    and minds, on abundance and prosperity, on wealth and power, happiness and 
    peace of mind. 

    It is a war of worries and fear, destroying and crushing as a 
    result of this abhorrent riba-based system, that is still being waged until 
    today, consuming everything in its path. 

    Today they are affected by depression, anxiety, frustration 
    and nervous breakdowns as a result of the financial crisis, to such an 
    extent that the American psychologist Nancy Molitor said: “I have never in 
    twenty years of practising this profession seen a day like this. The levels 
    of anxiety break all records.” 

    It has reached a level where murders and suicides are taking 
    place as a result of the pressure of this crisis. 

    8.“Allaah will destroy 
    Riba” [al-Baqarah 2:276]

    Destruction is both tangible and intangible. It takes away 
    the blessing of wealth so that a person does not benefit from it, or it 
    takes away the wealth altogether, as we have heard about the evaporation of 
    $2 trillion in five days from the American pension funds. The crisis has led 
    to the disappearance of sixteen banks, including the IndyMac bank which was 
    controlling assets worth $32 billion and deposits worth $19 billion. In fact 
    bankruptcy proceedings have been brought against seven major banks in 
    Europe. 

    Some analysts expect more than 110 banks could be closed 
    down, with assets reaching around $850 billion, by the middle of next year. 

    9.

    The one who deals in riba will be punished in such a way that 
    defeats his purpose 

    “And that which you give in gift(to 
    others), in order that it may increase (your wealth by expecting to get a 
    better one in return) from other people’s property, has no increase with 
    Allaah”

    [al-Room 30:39]

    In the saheeh hadeeth it says: “There is no one who deals in 
    riba a great deal (to increase his wealth) but he will end up with little 
    (i.e., his wealth will be decreased).” Narrated by Ibn Maajah and classed as 
    saheeh by al-Albaani. 

    This has been proven to people in many ways, such as the ten 
    richest people in Britain losing $40 billion; one of the major dealers in 
    riba lost his wealth over a period of four months at a rate of $7 million 
    per hour; in Russia the losses incurred by businessmen have reached almost 
    $230 billion, which represented 62% of the total wealth of the rich 
    Russians! How deep is the regret of such people! 

    10.

    When riba and gambling come together, it is a sign of doom 
    and destruction 

    One of the results of this combination is that major American 
    banks declared bankruptcy, such as Leman Brothers, Integrity, Washington 
    Mutual; and the largest insurance company, AIG, which paid $11 billion in 
    compensation, collapsed and incurred the greatest losses in its 90 year 
    history. 

    Between 2 and 3 million Americans are faced with the risk of 
    losing their home because they are unable to pay monthly instalments. 

    Despite these reports, some of those in whose hearts is a 
    disease are asking us to insure our deposits against bankruptcy! 

    11.

    The result of greed 

    Greed, avarice, deceit and cheating in contracts, as well as 
    misleading people and taking advantage of their need are all factors which 
    have a clear effect on the crisis. Some of these banks went to extremes in 
    lending more than 60 times their actual capital, out of greed and desire for 
    more profit. Some of their newspapers have commented on this crisis by 
    saying: Put the blame on greed. 

    12.

    Dangers of dealing with illusionary assets 

    The crisis has shown a great difference between the tangible 
    sector involving goods, services and real products, and the modern financial 
    derivatives such as electronic money, financial bonds, credit cards which 
    are like illusionary money, and electronic funds which do not exist anywhere 
    except in computer memories, and which gained their value from the banks' 
    guarantee of them. Once trust in the banks and financial institutions is 
    lost, their value disappears.  

    What will they do after the astronomical figures of billions 
    and trillions which were dancing across the screens of the stock exchanges 
    evaporate? 

    13. 

    The free economy and failure 

    This crisis is the greatest evidence of the failure of the 
    theory of the free economy and leaving the door wide open so that the 
    individual can do what he wants, without any limit or guidelines on his 
    economic transactions, so that wealth may grow. This led to an increase of 
    capital for one group in society, so the balance was tipped and the class 
    system emerged, with consequences which are contrary to the words of Allaah 
    (interpretation of the meaning): “in order that it may not become a 
    fortune used by the rich among you” [al-Hashr 59:7]. 

    Despite the so-called freedom, we find that their solution to 
    the problem is interference of the state, with its authority, to nationalise 
    the banks and financial institutions and pump money into buying assets, 
    changing the system and limiting the freedom of owners in order to protect 
    economic institutions from collapse. 

    14.

    Decline of capitalist principles 

    This crisis has exposed the failure of the capitalist system 
    and its inability to achieve financial security, balance and social and 
    economic justice between the various groups of society. How often the West 
    boasted of its financial system and claimed that it was the most perfect 
    ever achieved by mankind, to such an extent that Fukuyama said: “American 
    society is the pinnacle of human perfection and human maturity, after which 
    there is nothing.” Today Western leaders admit the failure of their 
    financial system, and even describe it as worn out and worthless. 

    The French President Sarkozy even said: We need to rebuild 
    the global financial and currency system from the roots upwards. 

    They called a summit in which the leaders of major nations 
    met in order to set out a new global financial system before the end of the 
    year. 

    15.

    Where are those who were deceived by this global economic 
    system? 

    Those who thought that they had betaken themselves to a 
    powerful support (cf. Hood 11:80)? They said: The global financial system is 
    well built and cannot have any faults... then it became clear that they were 
    following a mirage in which there is nothing real, and that they had been 
    deceived by false appearances that did not deserve all this praise and 
    commendation. 

    There was great wisdom in the delay in its fall, which served 
    as a trial and respite for the wrongdoers and those who were deceived by 
    them, as well as exposing the hypocrites and those who were tempted by the 
    systems of the non-Muslims. 

    16.

    Then were they confounded with shame (cf. al-Anbiya’ 21:65) 

    After going through the initial impact of the financial 
    collapse, some hypocrites and capitalists emerged to defend their worn out 
    financial system, claiming that the problem was not in the system, rather it 
    was in poor application of it and the lack of some restrictions, and that 
    there was no need to change it; rather it only needed some adjustments. This 
    is stubbornness on the part of those who are not learning anything from 
    events.

    “And never came an Ayah from among the Ayaat (proofs, 
    evidences, verses, lessons, signs, revelations, etc.) of their Lord to them, 
    but they did turn away from it”

    [Ya-Seen 36:46]

    “Say: “Behold all that is in the heavens and the earth,” 
    but neither Ayât nor warners benefit those who believe not”

    [Yoonus 10:101]

    17.

    Dangers and harm of separating the economics from Islam 

    For a long time the hypocrites said that it was essential to 
    separate between economy and religion, but implicitly they were saying what 
    the people of Shu’ayb said: “ ‘O Shu‘aib! Does your Salaat (prayer) 
    command that we give up what our fathers used to worship, or that we give up 
    doing what we like with our property? Verily, you are the forbearer, 
    right‑minded!’ (They said this sarcastically)” [Hood 11:87]. 

    What does religion have to do with people's personal conduct 
    and how they deal with their wealth, their political, social and economic 
    life, their method of production and ways of distribution? 

    The crisis has shown us that the economy, if it is removed 
    from shar’i rulings and principles, will wander in the darkness and lead to 
    disasters and problems. 

    18.

    Shar’i financial principles are a safety valve for the 
    economy 

    Because the people overlooked these shar’i principles in 
    their financial dealings and transgressed the sacred limits of Allaah 
    through lending and borrowing on the basis of riba, selling debts, 
    illusionary transactions, selling before taking possession, selling things 
    that they did not possess, deceitful and ambiguous transactions and dealing 
    with gambling and insurance, that led to calamity and the collapse of their 
    companies and banks. The size of the ill-fated financial derivatives which 
    are the cause of doom in the world is more than $600 trillion. 

    19.

    A sound foundation leads to a sound structure 

    “Is it then he who laid the foundation of his building on 
    piety to Allaah and His Good Pleasure better, or he who laid the foundation 
    of his building on the brink of an undetermined precipice ready to crumble 
    down, so that it crumbled to pieces with him into the fire of Hell. And 
    Allaah guides not the people who are the Zalimoon [wrongdoers]”

    [al-Tawbah 9:109]

    There can be no economy without the light of revelation, not 
    as the hypocrites claim that “there can be no economy without banks and no 
    banks without riba.” 

    20.

    A golden opportunity for da’wah 

    What has happened is to be regarded as a great opportunity 
    for the followers of the Islamic economic system to explain that it is the 
    only successful system that can achieve what the world needs. 

    Westerners themselves have begun to realise this fact. The 
    biggest economic newspaper in Europe has called for application of Islamic 
    law in the economic field so as to escape from the clutches of the 
    capitalist system which is behind the economic calamity that is overwhelming 
    the world. 

    One of them even wrote, wondering: “Is Wall Street ready to 
    embrace the principles of Islamic sharia?” 

    Sawati Taneja, a financial expert in Europe, said: “The 
    financial crisis in America is giving a golden opportunity to Islamic 
    economics which is opposed to usurious transactions.” 

    21.

    Readiness of political and financial systems to accept the 
    Islamic system 

    After the system was opposed to it before, a book has 
    recently been published by the Italian researcher Loretta Napoleoni, under 
    the title Rogue Economics, in which she points out the importance of 
    Islamic financing and says: “The Islamic banks can become a suitable 
    alternative to Western banks.” 

    Some Arab banks have started to think seriously about 
    stopping many financial dealings that have an alien Western character, such 
    as selling debts and selling options. 

    Unfortunately they only thought of that after the West 
    decided to do so, following them step by step. 

    22.

    Investing in this crisis to convey the truth to people 

    One of the duties of Islamic financial experts is to seek out 
    the principles of the Islamic financial system in the Qur’aan and Sunnah and 
    present them to mankind in a complete, independent financial system, not 
    following other systems or adopting a patchwork approach. 

    The Islamic system is not free of riba only, and it is not 
    limited to some rules in exclusion to others. It is not the system that 
    offers Western products with an Islamic veneer; rather it is a complete and 
    independent system that achieves the aims of sharia and justice in all 
    financial transactions. 

    23.

    Manifestation of Allaah's wisdom in legislation 

    It has become clear to anyone who has a mind and deep 
    understanding that Allaah does not prescribe anything except that which is 
    in the people's best interests, and He does not forbid anything except that 
    which is harmful to them in this world and in the Hereafter. 

    This financial crisis has shown clearly the harm caused by 
    riba and financial transgressions. Glory be to the One Who forbade it and 
    emphasised that prohibition. 

    It is no surprise that the editor-in-chief of Challenges 
    magazine said: “If the people in charge of our banks had tried to respect 
    the teachings and rulings that are mentioned in the Qur’aan, these disasters 
    and crises would not have befallen us 

    24.

    Healing and recovery cannot be by means of that which Allaah 
    has forbidden 

    The source of the money that was allocated to save the banks 
    and rescue the financial system, as they say, was borrowing on the basis of 
    riba or unjustly increasing taxes, or printing more currency without 
    anything to support it, which will lead to inflation. The French newspaper 
    Le Parisien stated that the French government would give €10.5 billion to 6 
    banks with interest at a rate of 8%. This is also a loan on the basis of 
    riba from other banks and nations. 

    What they are implicitly saying is: Treat me with that which 
    was the cause of my illness. 

    25. Material strength belonging to anyone other than the 
    believers deceives them and makes them arrogant 

    And it leads them to be arrogant in the land and enslave 
    others, and it makes them forget the might of Allaah, and make them 
    disbelieve in Him and deny His signs. 

    This is the serious problem that befell the people of ‘Aad:

    “they were arrogant in the land without right, and they 
    said: ‘Who is mightier than us in strength?’”

    [Fussilat 41:15]

    How many tyrannical nations and peoples in the past and at 
    present behave in the same manner; Allaah will destroy them as He destroyed 
    the people of ‘Aad.  

    The kuffaar today have no protection against the wrath of 
    Allaah:

    “Are your disbelievers (O Quraysh!) better than these 
    [nations of Nooh (Noah), Loot (Lot), Saalih, and the people of Fir‘awn 
    (Pharaoh), who were destroyed)]? Or have you an immunity (against Our 
    Torment) in the Divine Scriptures?”

    [al-Qamar 54:43]. 

    26. The consequences of injustice, transgression and 
    arrogance are bad 

    Those who act unjustly, transgress and are arrogant in the 
    land unlawfully are not safe from a bad end and will not prosper. 
    

    “Verily, the Zaalimoon (polytheists and wrongdoers) shall 
    never be successful”

    [al-An’aam 6:21]

    “And those who do wrong will come to know by what 
    overturning they will be overturned”

    [al-Shu’ara’ 26:227]

    The strongest nation in the world today is in need of help 
    and wants to borrow by any means, after spending in its unjust war on Iraq 
    more than $700 billion, as some of its politicians admit. Some of their 
    researchers have estimated that the cost of their military adventures 
    throughout the world has reached $3 trillion. 

    27. 

    The way in which Allaah deals with unjust nations is one and 
    the same 

    “How many a town (community) given to wrongdoing, have We 
    destroyed, and raised up after them another people!”

    [al-Anbiya’ 21:11] 

    “And these towns (population, ___‘Aad, Thamood) We 
    destroyed them when they did wrong. And We appointed a fixed time for their 
    destruction”

    [al-Kahf 18:59] 

    “And a disaster will not cease to strike those who 
    disbelieved because of their (evil) deeds or it (i.e. the disaster) settles 
    close to their homes, until the Promise of Allaah comes to pass. Certainly, 
    Allaah breaks not His Promise”

    [al-Ra’d 13:31]

    The word qaari’ah (translated above as ‘a disaster’) 
    appears in the indefinite and is general in meaning, so it may refer to any 
    type of disaster, such as thunderbolts and storms, or it may instil panic 
    and fear in people's hearts, such as financial collapses and crises. 

    It is silent fear on the screens! 

    The British professor of political and economic science, John 
    Grey, wrote an article in The Observer entitled The Tipping Point in 
    America's Fall from Power, in which he said: “The era of American domination 
    has ended.” Similar claims have also been made by Russian politicians and 
    others. 

    28.

    The bad consequences of sin affect everyone 

    This is apparent in the harm that has befallen all global 
    economies and is confirmed by the words of the Secretary General of the 
    United Nations: “The financial crisis threatens the livelihoods of billions 
    worldwide.” 

    In a letter sent by the Food and Agriculture Organisation 
    (FAO) to 34,000 food safety offices throughout the world, it says: “The 
    collapse of money markets in the world is going to lead to real famine that 
    will affect 36 countries in Asia, Africa and Latin America by the beginning 
    of 2009. 

    The losses in global stock markets have reached nearly $3 
    trillion, and $155 billion evaporated from the Gulf stock markets in one 
    week. 

    The president of the International Labour Organisation warned 
    that around 20 million people would lose their jobs by the end of next year 
    as the result of the crisis. 

    Allaah spoke the truth when He said (interpretation of the 
    meaning):

    “And fear the Fitnah (affliction and trial) which affects 
    not in particular (only) those of you who do wrong (but it may afflict all 
    the good and the bad people), and know that Allaah is Severe in punishment”

    [al-Anfaal 8:25]

    It is by the wisdom of Allaah that those who were at the 
    centre of the financial earthquake have become hated in the sight of people 
    throughout the world, as they regard them as responsible for this disaster. 

    29.

    Allaah has great wisdom in His will and decree 

    His decree is based on His wisdom and justice; this is the 
    decree of the Almighty, All Knowing. 

    Nothing happens in this universe contrary to His wisdom, for 
    He is Most Wise, All Aware. 

    By His wisdom, He has made calamities and disasters a means 
    of admonition, reminding and turning people back to Him. 

    “And verily, We will make them taste of the near torment 
    (i.e. the torment in the life of this world, i.e. disasters, calamities) 
    prior to the supreme torment (in the Hereafter), in order that they may 
    (repent and) return (i.e. accept Islam)”

    [al-Sajdah 32:21] 

    “that He (Allaah) may make them taste a part of that which 
    they have done, in order that they may return (by repenting to Allaah, and 
    begging His Pardon)”

    [al-Room 30:41]

    There are some people who will turn back to Allaah because of 
    this crisis, but there are many on whom the punishment is justified (cf. 
    al-Hajj 22:18); they will never repent or turn to Allaah. “When Our 
    Torment reached them, why then did they not humble themselves (believe with 
    humility)? But their hearts became hardened, and Shaytaan (Satan) made 
    fair‑seeming to them that which they used to do” [al-An’aam 6:43]. 

    30.

    True Sovereignty belongs to Allaah 

    He entrusted people with this wealth; what He wills He will 
    leave, what He wills He will take; He makes rich whom He wills and He makes 
    poor whom He wills; He gives what He wills and He withholds what He wills. 
    This crisis is a lesson for those who were misled and deceived, who said 
    what Qaroon said (interpretation of the meaning): “‘This has been given 
    to me only because of the knowledge I possess’” [al-Qasas 28:78]. They 
    forgot that Allaah is able to seize them and take away their wealth 
    suddenly. 

    31.

    Man is impatient and irritable 

    This crisis has exposed the extent of impatience and 
    irritability that affects people as Allaah says (interpretation of the 
    meaning):

    “Verily, man (disbeliever) was created very impatient;

    20. Irritable (discontented) when evil touches him;

    21. And niggardly when good touches him.

    22. Except those who are devoted to Salaah (prayers)”

    [al-Ma’aarij 70:19-20]. 

    If something bad happens, he panics and despairs: “And if 
    We give man a taste of mercy from Us, and then withdraw it from him, verily, 
    He is despairing, ungrateful” [Hood 11:9].  

    This crisis has resulted in cases of suicide, murder, heart 
    attacks, strokes, chronic diseases, nervous breakdowns, mental crises… some 
    studies have concluded that 57% of workers in stock exchanges are affected 
    by psychosomatic illnesses. In a statement issued by the World Health 
    Organization it says: “The financial crisis will increase levels of mental 
    illness worldwide.” 

    As for the believer, his case is completely different. “How 
    wonderful is the situation of the believer, for all his affairs are good. If 
    something good happens to him, he gives thanks for it and that is good for 
    him; if something bad happens to him, he bears it with patience, and that is 
    good for him. This does not apply to anyone but the believer.”

    Narrated by Muslim (2999). 

    32.

    Man is very attached to money 

    This crisis is a clear example of the fact that Allaah has 
    mentioned in the verse (interpretation of the meaning): “And you love 
    wealth with much love” [al-Fajr 89:20]. 

    And Allaah says (interpretation of the meaning):

    “Beautified for men is the love of things they covet; 
    women, children, much of gold and silver (wealth), branded beautiful horses, 
    cattle and well-tilled land. This is the pleasure of the present world’s 
    life; but Allaah has the excellent return (Paradise with flowing rivers) 
    with Him”

    [Aal ‘Imraan 3:14]. 

    The effect of that was that some of those who lost their 
    wealth committed suicide, because wealth was everything in their lives, so 
    when they lost it, they no longer had any motive to carry on living, so they 
    committed suicide after becoming slaves to the dinar, dirham and dollar. 
    This is the result of the heart becoming attached to something other than 
    Allaah. 

    33.

    Weakness of trust in Allaah with regard to one's livelihood 

    This crisis has exposed the extent of anxiety about the 
    future, as the result of fear of not being able to provide basic needs and 
    get rid of debt and its consequences. If people believed in the words of 
    Allaah (interpretation of the meaning), “And no moving (living) creature 
    is there on earth but its provision is due from Allaah” [Hood 11:6] and
    “Verily, Allaah is the All‑Provider, Owner of Power, the Most Strong” 
    [al-Dhaariyaat 51:58], He would provide them with good and easily 
    available provision as He provides for the birds. 

    34.

    In the loss of the tyrants' wealth there is a lesson that 
    reminds us of the attitude of the two groups towards the tyrant Qaroon 

    When he appeared before the people in his pomp and finery, 
    “Those who were desirous of the life of the world, said: ‘Ah, would that we 
    had the like of what Qaroon (Korah) has been given! Verily, he is the owner 
    of a great fortune’”[al-Qasas 28:79].  

    This is what the deceived say in every era. As for the people 
    of knowledge and faith, they say: “Woe to you! The reward of Allaah (in 
    the Hereafter) is better for those who believe and do righteous good deeds, 
    and this none shall attain except those who are As‑Saabiroon (the patient in 
    following the truth)” [al-Qasas 28:80]. 

    When Allaah caused the earth to swallow him up, the outcome 
    was: “And those who had desired (for a position like) his position the 
    day before, began to say: ‘Know you not that it is Allaah Who enlarges the 
    provision or restricts it to whomsoever He pleases of His slaves. Had it not 
    been that Allaah was Gracious to us, He could have caused the earth to 
    swallow us up (also)! Know you not that the disbelievers will never be 
    successful’” [al-Qasas 28:82].  

    35.

    This world does not stay the same and it will vanish. 
    “Whatsoever is on it (the earth) will perish” [al-Rahman 55:26]. 

    This world is a diminishing shadow; its pleasures will fade 
    and its adornment is not real. 

    “The life of this world is only the enjoyment of deception 
    (a deceiving thing)” 

    [Aal ‘Imraan 3:185] 

    “the Hereafter is better and more lasting”

    [al-A’laa 87:17] 

    “the Hereafter that is the home that will remain forever”

    [Ghaafir 40:39]

    i.e., the Hereafter is the place of settlement, peace and 
    tranquillity. 

    This world is green and sweet, and it deceives people. When 
    the disbelievers thought that their wealth would last forever, after they 
    had become successful in trade and industry, and had advanced in technology 
    and invention, the Command of Allaah reached them and caught them unawares, 
    as He says (interpretation of the meaning).

    “until when the earth is clad in its adornments and is 
    beautified, and its people think that they have all the powers of disposal 
    over it, Our Command reaches it by night or by day and We make it like a 
    clean-mown harvest, as if it had not flourished yesterday! Thus do We 
    explain the Ayaat [signs] in detail for the people who reflect”

    [Yoonus 10:24] 

    And Allaah says (interpretation of the meaning):

    “Know that the life of this world is only play and 
    amusement, pomp and mutual boasting among you, and rivalry in respect of 
    wealth and children. (It is) as the likeness of vegetation after rain, 
    thereof the growth is pleasing to the tiller; afterwards it dries up and you 
    see it turning yellow; then it becomes straw. But in the Hereafter (there 
    is) a severe torment (for the disbelievers  
    evildoers), and (there is) forgiveness from Allaah and (His) Good Pleasure 
    (for the believers  
    good‑doers). And the life of this world is only a deceiving enjoyment”

    [al-Hadeed 57:20]. 

    36.

    Shortcomings of mankind in analysing and predicting crises 

    Some studies of future trends in the West suggested that it 
    would continue to flourish and that the markets would continue to improve. 
    Indeed one of the centres for the study of future trends predicted that 2009 
    would be a year of economic prosperity. 

    The American Morgan Stanley Bank expected the price of a 
    barrel of oil to reach $150, and they said: “The era of cheap oil has come 
    to an end.” Others expected the price to reach $200 a barrel. 

    With the advance of mathematical science and probability 
    theories, and the invention of computers which analyse and work out very 
    complex equations, some Westerners thought that that was enough to judge the 
    future and know about it precisely, so they relied a great deal on the 
    results of their research. So this crisis was a great disappointment and 
    contrary to their expectations and studies, a shock which prompted them to 
    admit their shortcomings and incapability, and admit that they were going to 
    have to recalculate and adjust their predictions. Allaah spoke the truth 
    when He said (interpretation of the meaning): 

    “And of knowledge, you (mankind) have been given only a 
    little”

    [al-Isra’ 17:85] 

    “They know only the outside appearance of the life of the 
    world (i.e. the matters of their livelihood, like irrigating or sowing or 
    reaping), and they are heedless of the Hereafter”

    [al-Room 30:7]

    Some of their wise men had warned of this collapse and its 
    causes, but they paid no heed until it was too late, after it was no longer 
    possible to avoid it.  

    Finally, we ask Allaah, may He be exalted, to support His 
    religion and make His word supreme, to cause Islam and the Muslims to 
    prevail and humiliate the hypocrites and disbelievers, to compensate with 
    good those Muslims who have been affected and increase their reward. May He 
    help us all to do that which He loves and is pleased with. 

    “And Allaah has full power and control over His Affairs, 
    but most of men know not”

    [Yoosuf 12:21].