1. Generating…. In International Debt …………………………………………………………………………………………………………………………………… A presentation by year 11 pupils of Al Hijrah School: Ayat Hawash, Imman Al-Azzari, Junaid Hussain and Siam Hafeez

2. POVERTY!…..WHY? DEBT is one of the most pernicious causes of poverty CAN MUSLIMS HELP TO OFFER A SOLUTION ?

3. Debt and Granting Time “If the debtor is in difficulty, then delay things until matters become easier for him; still, if you were to write it off as an act of charity, that would be better for you, if only you knew.” (Qur’an: Chapter 2: verse 280) “Alms are meant only for the poor, the needy, those who administer them, those whose hearts need winning over, to free slaves and help those in debt, for God’s cause, and for travellers in need. This is ordained by God; God is all knowing and wise.” (Qur’an: Chapter 9: verse 60)

4. Wealth is a trust from God. Forgiveness – at the heart of Islam “Those who have been graced with bounty and plenty should not swear that they will [no longer] give to kinsmen, the poor, & those who emigrated in God’s way: let them pardon and forgive. “Those who have been graced with bounty and plenty should not swear that they will [no longer] give to kinsmen, the poor, & those who emigrated in God’s way: let them pardon and forgive. Do you not wish that God should forgive you? God is most forgiving and merciful.” (Qur’an: chapter 24:verse 22)

5. Faith in Action “The best of you is he (or she) who brings most benefit to others.” brings most benefit to others.” (Prophet Muhammad - peace be upon (Prophet Muhammad - peace be upon him) him) So, what benefit is the wealth of our So, what benefit is the wealth of our societies bringing to the world’s poor? societies bringing to the world’s poor?

6. Selflessness "Whoever goes to sleep on a full stomach while his neighbour goes hungry is not a true believer.“ Prophet Muhammad – peace be upon him) Which human being -suffering in poverty - does this universal teaching exclude?

7. Debt: starting points for a Muslim  Grant more time.  Better still, forgive the debt.  Remembering God Almighty owns everything. He is the Giver of wealth….and wealth, like poverty, is a test!

8. Islam and Debt: Other approaches?  Muslim countries helped to cause the problem (petro- dollars filling banks which then recklessly lent to poor countries)  Yet, many of the world’s poor are Muslim  Can Muslims be part of the solution?

9. Root cause of debt crisis…riba  Interest exacerbates debt.  The capital repaid….but poor countries are still drown ing in debt!  Health care? Infrastructure? Education? If only …….

10. WHAT ISLAM SAYS… “O you who have believed, do not consume usury, doubled and multiplied, but fear Allah that you may be successful.” (Qur’an: chapter 3: verse 130)  “God has forbidden you to take Riba, therefore all riba obligation shall henceforth be waived. Your capital, however, is yours to keep. You will neither inflict nor suffer inequity. …..” (Prophet Mohammad, peace be upon him in his farewell sermon)

11. WHY NOT SHARE RISK ?

12. Justice in profit and loss Share the risk – Islam requires the creditor and the debtor to share the fruits of success and / or taste the bitterness of failure! An antidote to reckless lending!

13. Where from here????  All faiths teach mercy and forgiveness.  As 1/5 of humanity, Muslims have a duty to share their teachings which could help free our poorest neighbours from poverty.  So, let us stay focused! Let us keep demanding: drop the debt!