Blame Riba Not Capitalism

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Me when muslims use the word “Capitalism” when critiquing the current global monetary system instead of the more accurate “The Riba System” or “Central Banks Fiat System”.

I understand that Islam has its own paradigm. I just find it more accurate to refer to the current global debt monetary system as the “Central Banks Fiat System” or “The Riba System” rather than just “Capitalism.” Calling it “Capitalism” often leads people to assume that free markets and property rights are anti-Islamic, when in fact, these concepts align with Islamic jurisprudence.

It’s more precise to label it The Riba System because it emphasizes Islam’s opposition to usury/interest and the pursuit of profit at the expense of morality/God’s commands and prohibitions.

Another reason I refrain from solely calling the current global debt monetary system “Capitalism” is that Muslims who haven’t delved into this topic might erroneously lean towards “Communism” and “Socialism” because their rhetoric opposes “Capitalism.” Ironically, at the heart of “Communism” lies the same institution found in what you referred to as “Capitalism”: The Bank, the primary institution of usury/riba.

Point 5 of the Communist Manifesto reads: “Centralization of credit in the hands of the state by means of a national bank with state capital and an exclusive monopoly.”

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Moro Blanco

A place where I write, compile, and share things that interest me from a wide range of topics.