Article For Sunday November 20, 2011
My Website – www.majidall.com
Between Us Only!
Need For Compassion From The Banks!
(This Is The Full Version)
The Holy Quraan – Surah Al Baqarah – Verse 280
If the debtor is – In a difficulty – Grant him time – Till it is easy – For him to repay – But if ye remit it – By way of charity – That is best for you – If ye only knew
Abu Qatadah related that the Prophet had said: If anyone would like Allah to save him from the hardships of the Day of Resurrection, he should give more time to his debtor who is short of money, or remit his debt altogether. (Muslim)
With a heavy heart and sadness, I have noticed the new trend, fashion and in-style nowadays is to draw blood from stones! Or having your pound of flesh with blood drawn in!
The world we live in is only temporary (transit) – and on The Day of Judgment we will be held responsible for all our actions – and inactions. This applies especially more to The Leadership.
There are so many others verses of The Holy Quran and The Hadith (Religious Teachings) on being kind, considerate and compassionate to those especially heavy in debts – but cannot pay – even if they really wanted to.
It is well understandable that the Banks have no monies of their own but are mainly their depositors’ monies with them. They have therefore full rights to protect and preserve these deposits and investments with them – and the trust and confidence put on them. There is no question and or dispute here for any reason.
One can also try to understand and appreciate the point and reasoning as to why they are ‘harshly chasing and pursuing so-called defaulters’ – if they themselves are now running in the red and losing money and profits.
It is also understandable that the banks have to operate under set rules and regulations of the Banking Sector an as per monetary and fiscal policies of the nation with the Central Bank as the as the Head of the Banking Authority in Oman – and as the Custodian of the Banking Laws set by Royal Decrees.
And then let us face realities and truth in life. Banks have indeed made great profits and returns as we see in the news every day. Many of them have built expensive top-of-the-art creative Head Offices and Branches, many top good pool cars and handsome bonuses and dividends too. Let alone the Top Management bonuses every year. Where does this money come from? It is like what we hear all being said on Wall Street all over again!
But it is also a statistical fact and reality too that especially in Self-Employment with the SMEs there are bound to be failures – and not because of not trying or one not being responsible, accountable and transparent – or because of wrong calculations, estimates and risk taking. Those businesses that have not done this have remained small grocery shops for ages – but even here now there are unexpected eventualities, turns and outcomes.
We live in the global village. And what happens there has a direct and indirect bearing and affect to us too. Tell that to Video Shops (remember Beta and VHS formats?) and now replaced by CDs – Bookshops selling physical hard copies by eBooks (remember Borders etc) and by Kindle iPads and others! Audio cassettes – what is that? Even in the small villages in the third world!
And then let us face realities and truth in life. Many Omanis are heavily in debt – even the younger coming in generations. Then we have the usual jealousies and envies streak in society that are willing to pay foreign companies three or four times more that they are willing to pay local firms – ‘on take it or leave it basis’ as we were told. Or a lot of empty and dry promises made to you ‘to finish off the job – even if you are running at a big loss’ – and when you told them you cannot continue at this rate – and or need review for more money, support, assistance and cooperation.
Then we have the usual issues of ‘of getting entry, break and opportunity first of all to come in’ – the ‘Wastah element’ – ‘corruption fiascos’ – and the differences between rhetoric and reality!
Whatever the case the CBO, Ministry of Finance and the Commercial Banks need to do something quick – before we also start to have Wall Street demonstrations here – or someone does something untoward and unexpected at any time.
In memory of BouAzizi of Tunisia who started The Arab Spring Uprisings!
Images – BouAziz In Remebrances, Supporters Demonstrating and Fadia Al Hamdi – The Policewoman who slapped BouAzizi!
OPEN YOUR EYES AND SEE, OPEN YOUR EARS AND HEAR – AND OPEN YOUR MOUTH AND SPEAK IT!
Pervez ex Pakistan President had said – it is all nice to have all kind of nice policies and coverage inside and outside – but it is what directly impacts and affects citizens’ lives that make the difference. Or metaphorically having a nice painted villa outside – and only in the Sitting Room where guests come in – but the rest is a mess!
It is the small things that count in the final analysis and calculations – and we are not there yet. How does a customer feel when he sees the Banks getting so much profits and incomes – and is giving this and that prize – and is sponsoring this and that – but a citizen Pensioner salary is not safe – including his house too!
And The Big Question – are we following the CSR – Corporate Social Responsibilities guidelines – or for that matter our Religion and Teachings too?
[Quran 4:58] Verily! Allah commands that you should 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, All-Seer.
I REPEAT IT – Whatever the case the Central Bank of Oman CBO, Ministry of Finance and the Commercial Banks need to do something quick – before we also start to have Wall Street demonstrations here – or someone does something untoward and unexpected at any time.
Frankly, I do not think that banks should worry about Islamic Banking coming in if they do treat with feelings, compassion and consideration their customers and clients now – before they start switching allegiances and loyalties. The time to do that is now – not tomorrow!
Allah SWT Will judge us by our deeds and actions – and also inactions – on The Punishment of The Grave and The Day of Reckoning! May Allah SWT (God) Protect and Preserve us all from His full anger and fury – and Guide us all towards the right path and ways always – Amin..
Majid Al Suleimany
IT IS HARAAM THAT WHILST WE ARE CELEBRATING 41ST NATIONAL DAY SICK DIABETIC PEOPLE ARE BEING MORE SICK AND DEPRESSED IN THEIR HOMES! WHERE IS COMPASSION AND HUMANITY?????
Are we watching and seeing things all around us now – even near home? Or happening in so-called Advanced Western World with the Arab Spring Fever?
The Romans had said – Those that the gods are out to destroy make them not see, hear or speak. Or as we Arabs say – There is no one so blind but with eyes but cannot see; no one so deaf but with ears but cannot hear; and no one so dumb but with a mouth but cannot speak!
Or as Napoleon had said – Do not interfere with someone set to destroy himself (let it be syndrome).
I heard the Prophet saying, “Once a man died and was asked, ‘What did you use to say (or do) (in your life time)?’ He replied, ‘I was a business-man and used to give time to the rich to repay his debt and (used to) deduct part of the debt of the poor.’ So he was forgiven (his sins.)” Abu Masud said, “I heard the same (Hadith) from the Prophet.”
Al Bukhari – Volume 3, Book 41, Number 606:
Narrated ‘Abdullah bin Ka’b bin Malik Al-Ansari from Ka’b bin Malik:
That ‘Abdullah bin Abi Hadrad Al-Aslami owed him some debt.
Ka’b met him and caught hold of him and they started talking and their voices grew loudest. The Prophet passed by them and addressed Ka’b, pointing out to him to reduce the debt to one half.
So, Ka’b got one half of the debt and exempted the debtor from the other half.
It was narrated that Abu Hurayrah said: The Messenger of Allaah (peace and blessings of Allaah be upon him) said:
“The soul of the believer is suspended because of his debt until it is paid off.” Narrated by al-Tirmidhi (1078).
It was narrated that ‘Umar ibn al-Khattaab (may Allaah be pleased with him) said:
Beware of debt, for it starts with worry and it ends with war. Narrated by Maalik in al-Muwatta’ (2/770).
May Allah SWT (God) Protect and Preserve us all from His full anger and fury – and Guide us all towards the right path and ways always – Amin..
By: Majid Al Suleimany