Seed of capitalism lies in interest based economic system

December 22, 2009

In program organized by JIH Patna as part of ongoing campaign against imperialism, Intezar Naeem, Assistant secretary of Jamaat-e-Islami Hind said “Prodigality and greed lead to interest based economic system in which people do not only forget the respect of fellow human beings but also humiliate them. These systems are being promoted by capitalists”

The program was organized on the theme of ‘Save the country from slavery and poverty’ in Patna. The program was part of JIH’s 10-day nationwide campaign ‘Anti-Capitalist Imperialism’ from 11th to 20th December 2009.

“JIH passed the massage to the government when Janata Dal was ruling at centre that Islamic banking system should be applied but it was rejected because it was not in the favor of capitalists who pay crores of rupees to politicians for their interest based businesses” he added.

Speaking on the occasion, senior journalist Satya Shiv Raman said: “There are many companies who have established or are planning to establish Special Economic Zone (SEZ) which means that there Indian constitution will not be applied. On the contrary, they will be eligible to use their own law and regulation. It means our country is being partitioned in several pieces by capitalists and government is helping them.”

Giving an example of such SEZ to make his point, he said: “A South Korean company is going to make SEZ in Orissa with the amount of 52 thousands crore rupees. The company will get 60 crore ton irons according to agreement and it will pay Rs 24 per ton to the government while market rate of iron is Rs three thousand per ton. This is an example that how our wealth is being looted by capitalists with the help of government. Therefore, common people of the area are not ready to give their land though they have been tortured and harassed time to time by official criminals.”

Social Activist and Microfinance expert Arshad Ajmal said that the poor are not poor because of their works and mistake but system of the market makes them poor and beggars.

“This happens when some people plan to be rich at any cost. For that they use politicians to approve laws in favor of them” he said.

“Islam is only religion which emphasizes on interest-free economic system and adoption of simplicity in the life and prevention of greed. If these teachings are applied, capitalism will disappear and common people will get welfare in the lives” he added.

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