Fahad Shahzad Waraich: Umar Ibrahim Vadillo in Pakistan (Islamic Economics)

A conference on "Islamic Economic System and Dirham-o-Dinar" held in Ewan-e-Iqbal Lahore in 2^nd week of the July 2012. In the conference a big number of people of different age groups and sections of the society came to listen the famous scholar Umar Ibrahim Vadillo from Malaysia.

The conference which was organized by the "Al-Ilm Trust” was started by the Orya maqbool jan's (well-known columnist) short presentation. In the presentation he explained the capitalism, socialism and other economic systems of the world and also the miseries given by these systems to the humanity.

A famous working Journalist Miss Humaira also addressed the audience and shared her struggle for demolishing interest based debt from the local creditors and hurdles which she is facing while introducing a national law through the constitutional assemblies against them. She said; she is working on the cause since 2003 but still no Government has taken it seriously. She asked; we claim to be Muslims and call our country "The Islamic Republic of Pakistan" but practically we can't establish it on its real soul till we get rid of this interest based economy. At the end of her talk; she also shared the hurdles and said; this is the bureaucracy the main barrier in throwing-down to the non-Islamic laws rather than the politicians of the state to whom we blame, so often.

Ex-Governor of State Bank of Pakistan also talked to the attendees and made the audience to understand the vision of M.Ali Jinnah behind the creation of Pakistan. He referred his talk to the M.Ali Jinnah’s speech on putting-stone of State bank in 1948, in which Quaid clearly criticized the western economic system and blamed him for two World wars in the 20th century and asked the researchers of state bank to establish the economy on the rules given by the Islam.

The special Guest Speaker of the conference was famous economist on Islamic Economics Al-Sheikh Dr. Umar Ibrahim Vadillo from Malaysia. In his speech, he beautifully and very simply explained the trap of the capitalism and its offences to the people of the world. He said; all the economic problems like Inflation, poverty, socio-economic inequality, joblessness, economic crisis etc are actually the results of Paper-Money and interest based central banking system of the world.

He added, if we do follow to the said economic system, our pockets are not safe, does not matter how much security we have for them. Because the control of this paper-money is in the hand of bankers and globally-controlled-governments of the states. Whenever they (the bankers/governments) want they can print the notes and the value of our savings get decrease from the worth, we paid for them.

By giving some statistics and economically technical points he said; right now USA has 3000 Times more paper notes than the real resources (Gold) behind them. He suggested to retrieve “the Gold and silver coins” to solve inflation, unemployment and to eliminate white-collar robberies from the world. And to remove inequality from the society we have to demolish interest/ribbah based economic system.

By answering the critics he said; if Muslims can run their state economy, in the age of Prophet PBUH and His followers (sahaba), who has ruled over half of the world, then why we can’t do it now?

In the concluding remarks of his talk he shared the successful experience of introducing Gold and Silver coins in the kelantan province of Malaysia and its fruits in the society over-there. He showed his interest to introduce same coins in the Pakistan by starting from the province Punjab.

In his visit to Pakistan he is meeting with some of the politicians to make them understand and support the cause as it has been supported by the Malaysian Government directly and by the Turkish and other Arab Governments indirectly.

Conference by the camera Eye: Click.