Tuesday, June 15, 2010
Market-place (suq) - Trading for free traders.
'Tijaratun a antaradh dhi min kum - Trade with mutual consent.'
'Before the time when state constitutions were in place, the market place has been a public institution. If we were to restore muamalat, the market place must exist as a public entity.'
'Market place is essential. It is fundamental in regard to trading. The market is such an original institution to societies that it precedes the formation of government.'
' Market-place is built for trading.'
' When Rasulullah (saw) went to Madinah, the first institutions that he built were the mosque and market.'
'We saw this in Bosnia. When it was destroyed in the war, the first civic institution that was built, before the govt of Sarajevo, was the market of Sarajevo. The first thing that brings the people together is their willingness to trade.'
'Rasulullah (saw) said that the sunna of the market is like the sunna of the masjid. Market is a sadaqah to the people. It is a waqf. Like the masjid.'
'There were traces of the majestic architectures of market-places devoted for trading, for the free traders, the people of the city, that muslims have created in the past.'
' A market-place is a fundamental part of muamalat. If the market-place is monopolised, then the distribution is monopolised, eventually the production is monopolised. Not only the monopolistic supermarkets decide whose products get to be on their shelves, but eventually, they start producing their own brand names.'
'When super-markets appear, the standard of living go down because monopolists kill the economy. This is because the people cannot have all the money. The money is in the hand of the monopolists.'
'Confuscius said - The profit of a nation is not making profit, the profit of a nation is its equity (justice).'
'You dont make money by pursuing profit, but it is made by the balance. It is to uplift the society. On balance, and not by one person who gains all the money. Balance can only be granted by justice. Justice in Islam.'
'Only in Islam so clearly define these matters with such clarity and accuracy. No little detail has been left out. The market-place is very clear in the sunnah, clear in hadith.'
'Our task today is to establish the Open Market of Kuala Lumpur. It will be the open market for the free traders. The market is to give them the status they deserve. To uplift them.'
'The entire Imaret was financed by the revenues created by the market-place.'
'The suqs and caravans come together. Without the suqs, there are no caravans. The prominent feature of the suq is the caravan-serai. The caravans represent the people of the city.'
'Caravans are entirely linked to the contract of Qirad. It is a contract not based on collateral but based on reputation, given to you by your community of people, your jamaa, your caravan. Traders work in a group as a jamaa, which is natural in traditional societies.'
'The market place is regulated by the guild of traders.'
'The building of an Islamic city around the market-place will guarantee the welfare of the people. There is something with a difference, something built upon riba and something built upon trade.'
'And in establishing the market, we would have put another step into the fulfillment of the complete model of muamalat. In these market-places we will establish the use of the gold dinar. '
'In this market-place where the caravanas come in, the qirad will be established through the caravans.'
'With the dinar, qirad and market-place we create the Core Mechanism. Each sustains each other. It will generate its own momentum. The dynamics will sustain itself.'