He asked why people do not abhor Interest like they hate adultery, alcoholism, gambling and eating pork ? The interest based economy has engulfed the society like cancer even though stringent guidelines have been given in Qur`aan and sunnah.
More than 300 Islamic banks are functioning in 75 countries throughout the world. When London, Tokyo, Singapore and Hong Kong can become hub and house of Islamic Finance why not Mumbai or Chennai, he asked.. Its need of the hour that muslim Ummah should become practicing ummah. He quoted many incidents from the early days of Islam.
From a speech delivered by Janab H. Abdur Raqeeb while presiding over the seminar on “The Destructive effects of Interest(Riba) and Islam the only solution” organised by Jamaat e Islami Hind, Gulbarga on 02.05.2010.To read the full report click here.