|
|
|
|
28th Jamadi-ul-Saani, 1433 | Monday, May 21, 2012
Featured News

Categorization of Interest Business into “Legal” and “Illegal” promotes corruption

Thursday, 2 February 2012
Comments(0)
February 02:

An intellectual had said that “By mixing the poison with honey won’t change its property and it shows its negative effect in any case”. In the same manner, if a wrong action is camouflaged in Law, it does not cause the development of any nation or country.

Accordingly, the business of interest charged on money lending whether it is classified as ‘legal’ or ‘illegal’ both are disadvantageous morally and socially. This is the reasons that Islam had declared it illegal so that humanity is saved from the evil. This is that Islamic Principle, if adopted completely, thousands of movements like Anna Hazare’s movement could be sacrificed on it and it will eradicate corruption from the country.

As far as the campaign of police against the city money lenders is concerned, it can only be successful if police reviews the actual situation seriously.

Authentic sources revealed that for evading the tax, the money lenders have been transacting business through illegal person. They issue separate receipts for showing them to Govt. officials. In this business, only those police officers are helpful to the financiers who are given their “Mamool” (fixed bribe) regularly every moth. Police Dept. is aware of such transactions but the police officials do not take any action against them. All those financiers who do not bribe policemen are given warnings that action would be taken against them at the appropriate time.

An elderly person of the City, Mr. Mirza Tahir Baig told that in whatever form it is taken “Interest” is illegal in Islam and it is not beneficial to any financial system. For the sake of convenience, Govt. categorized interest business into ‘legal’ and ‘illegal’. The financiers have continued their illegal interest business in the guise of legal and licensed business. This type of bifurcated classification on interest business is promotion corruption indirectly. He said that by arresting a few money lenders, this evil can’t be eradicated and the poor persons won’t be benefited by it. It will certainly raise the income of the corrupt police officials.

--Siasat News--

Latest News

Related News

Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Opinion Poll
Do you think Rajya Sabha is crowded with celebrities?
YesNoCan't say


Rs. 28910 (Per 10g)

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters | Muslim Names

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
[email protected]