essential islamic fin islamic economy 6
TRANSCRIPT
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Islamic EconomyThe Prophet (s):
It is not allowed to do harm, nor to be harmed.
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Issue to be discussed
The state of economy after 60 yearsThe role of the government Governments proactive Fiscal Policy
Eradication of Zulm Concept of Taxation in Islam
Bait-ul-Maal Subsidy Powerhouse
Inflation control Pro-employment policies
Pro-development policies
Monetary policies
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Important Hadith (Bukhari-vol3,book 43 Hadith # 655)
Narrated Abu Huraira : The Prophet (s)said,
"When an adulterer commits illegal sexualintercourse, then he is not a believer at thetime, he is doing it,
and when a drinker of an alcoholic liquordrinks it, then he is not a believer at the
time of drinking it,and when a thief steals, then he is not a
believer at the time of stealing,
and when a robber robs, and the people loo
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The state of economy after 60 yearsIslamic Republic of Pakistan
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The state of economy after 60 yearsIslamic Republic of Pakistan
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The state of economy after 60 yearsIslamic Republic of Pakistan
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The state of economy after 60 yearsIslamic Republic of Pakistan
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The state of economy after 60 yearsIslamic Republic of Pakistan
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The state of economy after 60 yearsIslamic Republic of Pakistan
h bl ?
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what problem ?
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The state of people after 60 years
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The solution ?
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Progress primarily because of thetechnological era in which we live!
h h ( )
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What the Quran DECLARES (4:59):
Verily! Allah commands that you must
render back the trusts to those,
to whom they are due;
and that when you judge between men,
you judge with justice.
Verily, how excellent is the teaching which He
(Allah) gives you!Truly, Allah is Ever All-Hearer,
E li hm n f i
Ayah
ignoredforcenturies!
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Governments Role
To provide & facilitate in the peoples
interest, as ordered by ALLAH
Build economic environment
Provide ALL kinds of safety
Implement Shariah with enforcement !
Seek the Help & Guidance of ALLAAH
Responsibility must be answered for!
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Leader Status!It has been narrated on the authority of Abu Malik that Ubaidullah b.
Ziyad visited Ma'qil b. Yaser in the latter's illness. Ma'qil said tohim: I am narrating to you a tradition. If I were not at death's door,I would not narrate it to you. I heard the Messenger of Allah (maypeace he upon him) say:
A ruler who, having obtained control overthe affairs of the Muslims,does notstrive for their betterment and does notserve them sincerely shall not enterParadise with them.
(Sahih Muslim, Hadith # 4502)
Abu Nasr Al-Farabi said:
Ignorance is more harmful in monarchs than it is in thecommon people.
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Common Government Satanic Practices
All injustices in the name of ISLAM
Intention: to please other than ALLAH
Excessive taxes & inefficiencies
Excessive luxuries/protocols
Blatant ignorance
Leaders right to always rule = BEST Decision
Criticism intolerable = Punishable !
MUST lead
with best
example !
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Ministerial privileges in Pakistan
Approximately 96
ministers
Rps 100,000 monthly
mobile balance
25 monthly air tickets only
What about other judges,
technocrats, dignitaries,
ambassadors, generals,
governors, beaurocrats, &
Annual Expenditure for only 2
allowances ONLY
Rps 100,000 x 12 = 1,200,000
25 air tickets x Rps 20,000 x 12= 6,000,000
1,200,000+ 6,000,000 =
7,200,000
7,200,000 x 96 ministers =
691,200,000
~ Rps 70 Crore
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Good Governance Example
Saheeh Muslim (Book 20, Number 4494):
Abd al-Rahman bin Shumasa who said: I came toA'isha to inquire something from her. She said:
From which people are you?
I said: I am from the people of Egypt.
She said: What was the behaviour of your governortowards you in this war of yours?
I said: We did not experience anything bad from
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Good Governance Example (contd)
If the camel of a man from us died, he would bestowon him a camel.
If any one of us lost his slave, he would give him aslave.
If anybody was in need of the basic necessities oflife, he would provide them with provisions.
She said: Behold! the treatment that was meted outto my brother, Muhammad bin Abu Bakr, does not
prevent me from telling you what I heard from theMessenger of Allah (may peace be upon him).
He said in this house of mine: O God, who (happensto ac uire some kind of control over the affairs of
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Pro-active Governance
20% direct influence on economy (C+I+G+[X-M])
Maximize GDP
Pro-competition
Anti-Monopoly
Enhancing productivity & efficiency
What should the tax rate be ?
ComparePakistan &
Japan
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Erradication of Zulm - Injustice
Eradication of all un-islamic practices &injustices
Lawful dealings only (ban all Satanic trades)
Avoidance of Gharar (uncertainties)
Eliminating hoarding, shortage, monopolies
Cheating & fraud totally unacceptable
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Taxation in ISLAM
100% taxation ?
0% taxation ?
What should the tax rate be ?
What should tax revenue be used on ?
The more the tax, the more theinefficiencies, corruption, luxuries &
rotocols
Zakat is nottax
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Hadeeth on Taxation
The Prophet (s) said:
He who imposes maks [Sales Tax] willNot enter paradise.
(Ahmed & Ad-Darmi)
Uqbah ibn Amir heard the Prophet (s) say:One who wrongfully takes an extra tax (sahibmaks) will not enter Paradise.
(Sahih Muslim, Hadith # 2931)
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Hadeeth on Taxation
The Prophet (s) said:
When someone offers an excuse to his
fellow Muslim and the later does notaccept it, his sin sin is like the crime of
imposing taxes.(Ibn-e-Majah)
Li i i Dhi i T
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Limitation on Dhimmi TaxNarrated 'Amr bin Maimun (r): Umar-r (after he
was stabbed), instructed (his would-be-
successor) saying:
"I urge him (i.e. the new Caliph) to takecare of those non-Muslims who are under
the protection of Allah and His Apostle inthat he should observe the conventionagreed upon with them, and fight on their
behalf (to secure their safety) and heshould not over-tax them beyond theircapability."
(Saheeh Bukhari, Book #52, Hadith #287)
Result of taxation &
http://www.searchtruth.com/book_display.php?book=52&translator=1&start=0&number=287http://www.searchtruth.com/book_display.php?book=52&translator=1&start=0&number=287http://www.searchtruth.com/book_display.php?book=52&translator=1&start=0&number=287http://www.searchtruth.com/book_display.php?book=52&translator=1&start=0&number=287 -
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Result of taxation &high governmentspending
Bankrupcy (Chapter 9)filed by
3 Californian Cities
(2012, in 1 month): Stockton
Mammoth Lakes
San Bernadinio(http://www.bbc.co.uk/news/world-us-canada-19089970)
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Only a few taxes in Islamic Republic of Pakistan
Income tax
General SalesTax
Service Tax
Fuel
AdjustmentCharges
Petrol Levy
Excise Duty
Customs Duty Property Tax
Stamp Duty
Aabiana
Local Cess
CVT
VAT CST
Octori
TDS
ESI EoBI
CGT
STT
Dhal Fees
Local Cess
Water Tax
ProfessionalTax
Road Tax
Education Cess
Wealth Tax Tax on tax
Capital GainTax
CongestionLevyCompulsoryDeduction
Minimumturnover tax
In addition to
otherimportanttaxes
Atleast we any enjoy tax joke untaxed!
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Atleast we any enjoy tax joke, untaxed!
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Bait-ul-Maal Subsidy Power House
Subsidy is an integral component
Strategic use of subsidies
Subsidy on core consumer items
Effect of subsidy on technology
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Receivers of Zakat
PoorNeedy
Travelers
To reconcile hearts towardsislam (Dawah)
To spread Islam (Jihad)Collectors of Zakat
Freeing slaves
Debtors
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Sadaqah-Charity
A religious obligationchanging humanities attitude
towards the have-nots
The concept of saving =
Sharing ?
The concept of wealth
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Hadeeth: Sadaqah-Charity
The best charity is to satisfy ahungry person.
No wealth (of a servant of Allah) isdecreased because of charity.
(At-Tirmidhi, hadeeth # 2247)
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How can a tax-free, subsidy-basedeconomy survive ?
By efficient management of naturalresources (oil, gas, chromite,
marble, precious stones, etc)
If no natural resources, must be
creative & innovative (Coke/Pakola,medicine, handicraft, hand madewonders, etc)
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How can a tax-free, subsidy-basedeconomy survive ?
By efficient management of naturalresources
Creative & innovativeZakat & Sadaqah
Jizyia
Ushr & KharajAnfal & Fai
Mudarbah & Musharikah
When all the above are available is
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Pro-employment & Pro-investment
Problem of unemployment, over-employment, &
national inefficiency
Converting population into skilled-labour
Nurturing & retaining human capital
Investment in infrastructure -> Nation building
Real investment in evolving military assets
Man will have nothing but what he strives for;Sourah An-Na m verse 39
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U$ Gun Law!
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Learning a lesson from Qaroon
Surely Qaroon was of the people of Musa,But he oppressed them;
And we gave him so much treasure that his hoards
of wealth would certainly weigh down a companyof men possessed of great strength.
When his people said to him: Do not rejoiceexultantly, surely Allah does not love the
exultant.(Sourah ?, verse ?)
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Land development
Hadhrat Aisha (r) reported that the Prophet (s)said:
Whoever colonizes a land which does not belongto another,
has the better right to keep it.
Urwa Bin Zubair (r) states tha Hadhrat Umar (r)
acted upon the same rule during his reign.(Bukhari, Muslim & Nisai)
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Public interest
Abdullah bin Abbas (r) reported that the Prophet
(s) said:
All Muslims are partners in 3 things:
1. In water,2. Herbage and
3. Fire(Abu Dawoud & Ibn Majah)
Abu Hurairah (r) reported that the Prophet (s)said:
Dont withhold excess water so as to prevent
therwith (the growth of) additional herbage.
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Reserved Public interest abolished!
Abdullah bin Abbas (r) reported that Saad bin
Jassamah heard the Prophet (s) say:
There is no HIMA, except for Allah and HisProphet.:
(Bukhari)
Hima is a grass land with water which pre-Islamic Arabs used to reserve for their own
cattle 7 animals.
M t li ANTI i fl ti
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Monetary policy ANTI-inflation
Biggest note ?Interest rate ?
Restrict money supply
Investment in real industry
DEFLATION ??
Which is more powerful Fiscal or
Monetar ? The Nominal Interest Rate and the
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The Nominal Interest Rate and theInflation Rate
Copyright 2004 South-Western
Percent(per year)
1960 1965 1970 1975 1980 1985 1990 1995 20000
3
6
9
12
15
Inflation
Nominal interest rate
Nominal GDP, the Quantity of
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Nominal GDP, the Quantity ofMoney, and the Velocity of Money
Copyright 2004 South-Western
Indexes(1960 = 100)
2,000
1,000
500
0
1,500
1960 1965 1970 1975 1980 1985 1990 1995 2000
Nominal GDP
Velocity
M2
R t i d f h i fl ti
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1
10
100
1000
10000
percentg
rowth
Israel
1983-85
Poland
1989-90
Brazil
1987-94
Argentina
1988-90
Peru
1988-90
Nicaragua
1987-91
Bolivia
1984-85
inflation growth of money supply
Recent episodes of hyperinflation
Money Supply, Money Demand,
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Money Supply, Money Demand,and the Equilibrium Price Level
Quantity ofMoney
Value ofMoney, 1/P
Price
Level, P
Quantity fixedby the Fed
Money supply
0
1
(Low)
(High)
(High)
(Low)
1/2
1/4
3/4
1
1.33
2
4Equilibriumvalue ofmoney
Equilibriumprice level
Moneydemand
A
The Effects of Monetary Injection
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The Effects of Monetary Injection
Quantity ofMoney
Value of
Money, 1/P PriceLevel,P
Moneydemand
0
1
(Low)
(High)
(High)
(Low)
1/2
1/4
3/4
1
1.33
2
4
M1
MS1
M2
MS2
2. . . . decreasesthe value ofmoney . . . 3. . . . and
increasesthe pricelevel.
1. An increasein the moneysupply . . .
A
B
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How did U$ get out of the Great Depression?
Stock market crash Severe drought
High unemployment (30%)
High Inflation Social unrest
Increase in organized crime
Fear of spreading communism Dwindling economy
Capital flight
Banking system failed
Isnt thissituation
similar to the
currentPakistanieconomic
disaster ?
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Pro-Active Fiscal & Monetary Policy
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Pro Active Fiscal & Monetary Policy Maximizing GDP (Investment, Production, Export), Minimize
government spending on luxuries
Tax rate ~ ZERO
Real use of Bait-ul-Maal (Zakah Fund, Sadaqah Funds, resourceharvesting/mining)
Subsidization of all core consumer items (wheat, rice, sugar, petrol,gas, electricity, cement, plastic, metal, wood, etc)
Education 100% FARD
Transforming population into labor force
Widely dispersed vocational training institutes, avoid non-senseindustries
Nurturing & retain human capital
Promote permanent residency (only temporary travel) Curb capital flight, pro-investment
Strategic employment
Pro-competition, anti-monopoly
Build infrastructure (roads, electricity, gas, water, education, health,
etc)
Economic Roadm
Household budget-Rps8000 for a family of 4 adults & 3 children
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Meat (6kg x 125)800
Chicken (6kg x 80)
480Beef (6kg x 80) 480
Fish (6kg x 40) 240
Pulses (7kg x 30)210
Vegetables (40kg x 9) 360Fruits (18kg x 10)
180
Rice (30kg x 30)900
Wheat (30kg x 20)600
Sugar (7kg x 18)126
Spices (3.5Kg x 40)140
Milk (30ltrs x 10)
Rent 1,000
Transportation 150
Water 20
Electricity 170Gas 80
Phone 40
School fees 240
Medicine 10
Books 40
Clothing 100
Cleaning 80
Entertainment 50
Toys 25
Durable goods200
Emergency 100
Saving 100
Miscellaneous 100
Other 86
Total 8,000
A balanced budget,
in an economy
accommodating the
poorest!
This is only 1 fruit of
adopting the Shariah!
This would cost more than
Rps 60,000 in todays man-
made, interest-based, tax-
based, pro-democratic,
corrupt economy!
More than 60% of
Pakistani today dont earnmore than Rps 178/day!
How ? is it possible ?
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How ?is it possible ? Elimination of taxes
Introduction of subsidies on core
consumer items Elimination of interest
Promoting competition, eliminating
monopolies Elimination of profiteering
Eliminating luxuries & protocol ofgovernment officials
Exporting of excess production Extraction of natural resources
Boost investment
Strategic use of Baitul-Maal (zakat,
Bigger questionwill it happen?
Abu Nasr Al-Farabi
said:
Obedience isfreedom,While coercion is
slavery
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Will lead to:
Economic stability
Controlled inflation, even deflation insome cases
Elimination of poverty
Economic growth Self sufficiency
A super power house
Case study: Libya Under Ghadafi Rule
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(only a partial Islamic System)
Banks state owned, giving 0% interest
Free electricity Newly wed given $50,000 (60,000 dinar) to start
Mother get $ 5,000 for new born
Free Education (otherwise $ 2,300/monthly for abroad)
Free Health (otherwise $ 2,300/monthly for abroad) 83% literacy (25% university graduates)
Farmers given all for free: land, house, fertilizer, seeds,equipment
Pertrol price $0.14/liter (Rps 12.5/liter) 0 national debt
Foreign exchange researve : $ 150 billion
Percentage of oil sale given to all Libyans in their
accounts
Islamic Economic may have
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ysimilarities, but is different from:
Keynesian
Chicago
Mercantile
As a whole it is: Divine
Unique
Comprehensive
Flexible
Well balanced
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20th Century Economistsdefine Islamic Economics (Hasan-uz-Zaman)
Islamic Economics:
is the knowledge, application ofinjunctions & rules of the IslamicJurisprudence
that prevent injustice in the gaining &disposal of material resources
in order to provide satisfaction to humanbeings
& enable them to perform their
obligations to Allah & the society.
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Muslim contribution for Economics
Ibn Khaldun is accepted as the fatherof Economics of all times, even byAdam Smith;
Ibn Khalduns economics is based onthese 4 fundamental Islamicprinciples:
All wealth belongs to Almighty Allah.Man is the trustee of wealth.
Hoarding of wealth is prohibited.
Wealth must be in circulation at all
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Islamic Economy Objective
Islamic economics aims at thestudy of human recoveryachieved by organizing the
resources of the earth on thebasis of cooperation &participation.
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Islamic Economy Salient Nature
The pure divine is a world apartfor the man made, error prone,plagued with interest group
maneuveringCombine law with the spiritual(& moral obligation)
This translates into be willobedience & compliance
Pakistans vital role in the global
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gpolito-economic quagmire
Trade creates surplus
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Trade creates surplus
Unlike RIBA, trade creates
surplus (money)Compare with RIBA example:
Riba-free loan Raw->supply
Sajid 1,000 Fishes Earningprofit to pay
Navid 1,000 Farms interest-free loan
Farid 1,000 Fruit Jam
Convention Economics & Politicians
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Convention Economics & Politicians
Lessons from history
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y
Establishment of shariah Fardh!
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Establishment ofshari ah Fardh!
O you who believe!Stand-up firmly by the Commands of Allah,Bearing witness with justiceand let not the enmity of any peopleincite you that you should not do justice.
Do justice, that is nearer to piety, and fear Allah;Undoubtedly , Allah is aware of your doings.(Sourah Al-Maidah, ayah # 8)
Future of Islamic Economy
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Future of Islamic Economy
All other economies have failed!
No economy has performed as statedtheoretically
Human made economies have evolved,adapted and failed
Islamic economy has always succeededwhen applied
Future of Islamic Economy
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Future of Islamic Economy
Allah has promised those among you who believe,and do righteous good deeds,that He will certainly grant them succession to(the present rulers) in the earth,as He granted it to those before them,
and that He will grant them the authority to practisthat which He has chosen for them (i.e. Islam).And He will surely give them in exchange a safe seafter their fear (provided) they (believers)
worship Me and do not associate anything (in worsBut whoever disbelieved after this,they are the Fasiqun (rebellious, disobedient to All(Sourah Nour, ayah # 55)
Future of Islamic Economy
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Future of Islamic Economy
Abd-Allaah bin Masud (r) reported the Prophet (s) a
If only one day of this world remained,Allaah would lengthen that day(according to the version of Za'idah),
till He raised up in it a man who belongs to me orto my family whose father's name is the same as my
who will fill the earth with equity and jus
as it has been filled with oppression and(according to the version of Fitr).Musnad Ahmed:(1/448) & (1/376/377).Also authenticated by Dr Bastawi in Al-Mahdi Al-Muntadhar, pageAbu Dawoud: Kitab Al-Mahdi, volume 3, page 1191, hadeeth # 4269.
Tirmidhi: Authenticated (judged Sahih) in Sahih At-Tirmithee (4/505), hadeeth # 1819.
Future of Islamic Economy
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Mattar narrates:
We have been told that Mahdi will make something that
Omar bin Abdul-Aziz did not do. We asked: What is it ?
He said: A man will come to him and ask him
(to give him), then he will say:Go inside (cashier) and take.
He will go inside and take.Then he will go out and see people not hungry (satisfied)then he will become sorry (feel guilty)
and come back to him and say: Take what you gave me.
He will reject and say: We give and dont take.Mattar is a follower of the followers (Tabi Al-Tabiyeen).Al-Fitan (99), and Al Waredah fi Al-Fitan (5/1064), # 585.Authenticated by Dr Bastawi in Al-Mahdi Al-Muntadhar, page 226, # 18. Conclusion: Isnad are saheeh.
Future of Islamic Economy
Future of Islamic Economy
http://www.google.com.pk/imgres?imgurl=http://www.jillianlauren.com/blog/wp-content/uploads/2008/12/joshua-tree.jpg&imgrefurl=http://www.jillianlauren.com/blog/%3Fm%3D200811&usg=__0YQE_JxYGmkLt6g_NQOScGijgVg=&h=300&w=450&sz=51&hl=en&start=6&itbs=1&tbnid=sYWx3Rp7NBEvMM:&tbnh=85&tbnw=127&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1http://www.google.com.pk/imgres?imgurl=http://www.ffwrt.com/wp-content/themes/thesis_16/custom/rotator/joshua%2520tree.jpg&imgrefurl=http://ffwrt.com/&usg=__I4r356Fgw2HkUqRWC4SSSiih_Og=&h=385&w=500&sz=175&hl=en&start=14&itbs=1&tbnid=KWbs6JzuwGuYCM:&tbnh=100&tbnw=130&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1http://www.google.com.pk/imgres?imgurl=http://www.ffwrt.com/wp-content/themes/thesis_16/custom/rotator/joshua%2520tree.jpg&imgrefurl=http://ffwrt.com/&usg=__I4r356Fgw2HkUqRWC4SSSiih_Og=&h=385&w=500&sz=175&hl=en&start=14&itbs=1&tbnid=KWbs6JzuwGuYCM:&tbnh=100&tbnw=130&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1http://www.google.com.pk/imgres?imgurl=http://www.ffwrt.com/wp-content/themes/thesis_16/custom/rotator/joshua%2520tree.jpg&imgrefurl=http://ffwrt.com/&usg=__I4r356Fgw2HkUqRWC4SSSiih_Og=&h=385&w=500&sz=175&hl=en&start=14&itbs=1&tbnid=KWbs6JzuwGuYCM:&tbnh=100&tbnw=130&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1http://www.google.com.pk/imgres?imgurl=http://www.ffwrt.com/wp-content/themes/thesis_16/custom/rotator/joshua%2520tree.jpg&imgrefurl=http://ffwrt.com/&usg=__I4r356Fgw2HkUqRWC4SSSiih_Og=&h=385&w=500&sz=175&hl=en&start=14&itbs=1&tbnid=KWbs6JzuwGuYCM:&tbnh=100&tbnw=130&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1http://www.google.com.pk/imgres?imgurl=http://www.ffwrt.com/wp-content/themes/thesis_16/custom/rotator/joshua%2520tree.jpg&imgrefurl=http://ffwrt.com/&usg=__I4r356Fgw2HkUqRWC4SSSiih_Og=&h=385&w=500&sz=175&hl=en&start=14&itbs=1&tbnid=KWbs6JzuwGuYCM:&tbnh=100&tbnw=130&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1http://www.google.com.pk/imgres?imgurl=http://www.ffwrt.com/wp-content/themes/thesis_16/custom/rotator/joshua%2520tree.jpg&imgrefurl=http://ffwrt.com/&usg=__I4r356Fgw2HkUqRWC4SSSiih_Og=&h=385&w=500&sz=175&hl=en&start=14&itbs=1&tbnid=KWbs6JzuwGuYCM:&tbnh=100&tbnw=130&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1http://www.google.com.pk/imgres?imgurl=http://www.ffwrt.com/wp-content/themes/thesis_16/custom/rotator/joshua%2520tree.jpg&imgrefurl=http://ffwrt.com/&usg=__I4r356Fgw2HkUqRWC4SSSiih_Og=&h=385&w=500&sz=175&hl=en&start=14&itbs=1&tbnid=KWbs6JzuwGuYCM:&tbnh=100&tbnw=130&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1http://www.google.com.pk/imgres?imgurl=http://www.jillianlauren.com/blog/wp-content/uploads/2008/12/joshua-tree.jpg&imgrefurl=http://www.jillianlauren.com/blog/%3Fm%3D200811&usg=__0YQE_JxYGmkLt6g_NQOScGijgVg=&h=300&w=450&sz=51&hl=en&start=6&itbs=1&tbnid=sYWx3Rp7NBEvMM:&tbnh=85&tbnw=127&prev=/images%3Fq%3Djoshua%2Btree.jpg%26hl%3Den%26sa%3DG%26gbv%3D2%26tbs%3Disch:1 -
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Future of Islamic Economy
Dr Muhammad Al-Tijani Al-Samawi:
Al-Imam Muhammad ibn Al-Hasan Al-Mahdi,who will fill the earth with justice and equalityas it has been filled with injustice and despotism,behind whom Maryams son (Jesus will pray,
and by whom Allaah will perfect His light and the believers
Quoted from Al-Samawi, Dr Muhammad Al-Tijani. Translator Hasan Muhammad Najafi.The Shia:The Real Followers of the Sunnah (Ash-Shia Hum Ahlul-Sunnait. Ansariyan Publications, Iran
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Future of Islamic EconomyAbu Hurairah (r) reported the Prophet (s) as saying:
There is no prophet between me and him, that is, Esa.He will descend (to the earth).When you see him, recognize him:a man of medium height, reddish (fair), wearing two yellow garments,looking as if drops were falling down from his head though it will not be
[1] He will fight the people for the cause of Islam.
[2] He will break the cross,
[3] kill swine,
[4] and abolish Jizyah. Allaah will perish all religions except Islam.
[5] He will destroy the Antichrist and will live on the earth for forty y The Muslims will pray over him.Abu Dawoud: Kitab Al-Malahim volume 3 page 1202 hadeeth # 4310