The hypocrisy of Syed Akhbar Ali (the Anti Hadith) is at work again. This time he is trying to con people about the topic of Riba and bank interest. He wrote 3 parts of it, but this reply is referring to his 2nd part as the first does not contain much argument except an introduction. My response to his post is at the end of this article. But what I want to show all of you is the hypocrisy of this Syed Akhbar Ali.
To proof my point, first, I posted some generic praise to him as anonymous. The praise reads
Guess what, he happily released the post. But when I posted the responses to his writing, no where you can see they appear. This is outright hypocrite. He wrote 50 “Unworthy Names” In Saudi Arabia? Please la Mr. Syed. Don’t be such a hypocrite. You criticize others of banning names while you also ban any view that is against yours. You are afraid that people will know the truth that you con them to treat you like a mahaguru (anti-hadith).
In your 3rd post, you simply accused others of calling you names but you are afraid to show what they wrote. Ini macam baling batu sembunyi tangan. By the way, you also call them names like moron, monkey, etc. Worse, you accused them but not showing what they actually wrote. This is outright evil and hypocrite from someone who pretend he is sitting on such a high intellectual ground. In reality you are just a coward hypocrite who is afraid that they will reveal you lies. Too bad there are many foolish people (sorry I really have to call those people foolish) because they are treating you like a mahaguru. Some to the extend of copy and saving your writing.
Anyway, here is my response which does not see daylight in Syed blog.
It is almost unanimously agreed that the conventional bank interest is riba (although there are some unconvincing argument that goes against it), but the focus of the discussion is the arguments by Syed which we will simply show you how you get con by his whims and fancies.
No doubt, etymologically, the word riba means increase. But increase in what sense? Here is where you see how this Syed con you. By mere reference to some translated versions of Quran, he came into conclusion of riba as double, triple and quadruple in profiting or in summary profiteering from a business transaction.
Islam never put a cap on the amount of profit one can make from a business transaction. What prohibited is over profiting by exploiting the ignorance of buyer. For instance, to sell a bottle of mineral water for RM 20 to a tourist who just arrived in this country for the first time not knowing how much the actual mineral water being sold in the market whereas the in actual market, it only cost RM 2 is an example of over profiting in an illegal way.
However, if the buyer is well aware of the market price and is willing to pay for it, then there is no harm. There is a clear wisdom behind it. The intrinsic value of a product cannot be determined extrinsically. For example, 2 pieces of jewellery may take the same amount of gold to produce, but when sold, it could be of different value due to workmanship, availability and uniqueness. Let me ask you, how much is the cost of getting a diamond? But usually diamonds are sold may be hundreds of times the cost of producing it due it its rarity. So does that constitute riba? By Syed definition, yes because you are not only doubled but multiplied by hundred of times. By syed definition, artist will be indulging in largest amount of riba. A painting can be sold thousands of time the cost to produce. So it would be big riba.
The foolish thing is that he uses jewellery as example saying selling a 10000 for 20000 as riba. He himself is a gold shop owner. He knows that if he sells a ring that cost 1000 at 2000, by mere 3 weeks he will be out of business. Why? Because of the market price and there are competitor. He can con 1 or 2 person for the price, but once it is known, no one will buy from him anymore. So either he is ignorant about the subject to the point of using such a foolish example or he tries to con people into believing in his “fatwa” thinking that they are stupid.
So, what is the meaning of increase (riba)? The Islamic scholars define it in 2 forms; one is riba an-nasiah (increase by time) and riba al-fadl (by unequal exchange of product of same value). Our focus is on riba an-nasiah, i.e. value increase by time. The concept is actually simple. Something will not increase its value by itself upon time if it stays stationary. In simple word, if you take RM 1000 and put it in a drawer, after 1 year the RM 1000 will not become RM 1100. So if you put your money somewhere for 1000 and after one year you collected 1100, the extra of 100 is the INCREASE in value. It is not about how many percent the increase, but it is about an unjustified increase.
When you give a loan of 1000 to a person and collected it after 10 years for 1100, the extra 100 after 10 years is an unjustified increase because if you put that 1000 in your house drawer, even after 1000 years, the amount is still 1000. So how come when you put it to someone the value can increase to 1100 unless the INCREASE is added by the borrower. This increase is known as riba. It is haram because it is equal to giving something less but getting back more.
Well, I know some readers will say, well I can invest your 1000 and make the profit. Ha! Here is the fine line difference between conventional and Islamic banking. This is also the part where they say “trade is similar to riba” (see how poor the translation given by Syed, he says “trade is similar to profiteering” whereas the Arabic word used is riba, not profiteering). In trade or investment, there is no guarantee of profit. You can lose in your investment. But in the ribawi loan, irrespective of whether you make profit or lose, at the end of the day, the lender will collect extra 10%.
Another way of how syed justifies his point is by using example of how he said Islamic bank is “worse” than conventional bank by giving some examples of people who took Islamic loan and unable to service them. I don’t know how the readers can be fooled by such a weak argument. Hello! There are far more people who can’t service their loan using conventional loan transaction. Do you think all the foreclosure in US during the subprime crisis was the result of them taking Islamic loan?
The fact is, you take loan (Islamic or conventional), you can’t pay, so your kereta kena tarik or your house kena foreclose, irrespective of whether your loan is Islamic or not. But you are giving an unfair picture by painting negative image on Islamic loan, whereas the same thing also happens in conventional loan. Some say Islamic loan is unjust because it is more expensive than conventional loan. Well, if you buy smuggled cigarette, it will also be cheaper than legal one because they can be cheaper. Legality may come with extra cost because it protects both parties whereas the haram one probably benefit one side, thus it is cheaper.
I do not want to go lengthy on the issue, buy I just want to tell you all readers, don’t swallow bulat-bulat what this Syed say. It is all from his own definition and his whims and fancies. I have to agree that he is a good writer who knows how to twist word and create sentiment in order to draw more people into believing in him. But remember the Saying of Allah in the Quran (Syed this is from Quran, ok)
Those upon whom the word will have come into effect will say, “Our Lord, these are the ones we led to error. We led them to error just as we were in error. We declare our disassociation [from them] to You. They did not used to worship us.” [28:63]
The Melayu translation is
Mereka yang berhak menerima hukuman (azab Neraka) berkata: Wahai Tuhan kami, inilah mereka yang kami menyebabkan kesesatannya, kami menyebabkan mereka sesat (dengan pilihan mereka sendiri) sebagaimana kami telah sesat (dengan pilihan kami sendiri); (dengan ini) kami mengakui kepadaMu bahawa kami berlepas diri (dari kekufuran mereka). Bukanlah Kami yang mereka puja dan taati, (bahkan mereka hanya memuja dan mentaati hawa nafsu mereka sendiri).