[MaraReenece]

It is undeniable that humanity in general is struggling under a widespread regime of social and economic
injustice. The Muslims have a pressing motivation to induce political change derived from the necessity that the
Shari'ah should be uppermost in the affairs of the world in order that mankind as a whole should have the proper
means to carry out our duty as guardians of the weak and the poor and custodians of the earth’s natural
resources. However, because our ‘ulama and people of intellectual endeavour (with very few honourable
exceptions) have so far failed, at least in recent times, to give the sciences relating to the politics of power the
attention due to them by that very same Shari’ah as fard kifaya (a collective obligation), we are in no position to
interpret the lessons of modern world history or to properly observe the modalities of social, political and
economic change as an important source of obligatory knowledge.


http://themuslimfaculty.org/images/S...transcript.pdf


As long as this is the case, attempts to impinge upon the dominant system in any significant way will continue to
meet with frustration and failure; indeed, they are likely to strengthen it. Hence, the sad irony, or indeed, the
great tragedy, is that it is into the very nihilism generated by the historical failings of modernity that Islamic
movements, political leaders and all manner of activists have blundered half-blindly and ill equipped, unaware
that by allowing themselves to be cast as the opponents of democracy, far from being the catalysts for positive
change they imagine themselves to be, their political role in fact, according to the thesis of Carl Schmitt, is that of
the necessary other, the enemy required by the state to sustain its own unity. In this light, the Islamic nation state
is no more a reflection of authentic political understanding than is Islamic vodka or for that matter, Islamic banking.

It has taken a world banking crisis of historical proportions in 2008 and the almost total collapse of the
international banking system to bring the iniquities and the inequities of the usurious financial system to the
immediate attention of the 99.9% of the population who had hitherto been content to remain dormant,
indifferent or blissfully ignorant of the nature of the system and the political realities of the money power
(referred to as the Sect by Proudhon). When in 2008 the Dean, Hajj Abdassamad, and I addressed an open letter to
the Archbishops of Canterbury and York in response to their published remarks rather timidly implicating the
greed of the international banking fraternity in the current crisis, it was not merely that we wished to avail
ourselves of an opportunity to publicly reiterate our habitual warnings regarding the banking system, we were
responding to the fact that, finally, an establishment voice was attempting to speak up and we wished to supply
them the proper means to do so.
It was suddenly clear for all to see, though understandably still hard for most to believe, that almost all of the
money in circulation is provided not by the State but by the banks which through a combination of fractional
reserve banking and credit manipulation are allowed to create money out of nothing. As the financial crisis has
continued and the fates of Ireland, Greece, Spain, Portugal and the Euro hang in the balance, it has also become
clear that the sovereignty of nation states and the autonomy of elected governments are little more than
elaborate fictions designed to conceal the hitherto hidden power of the bankers whose continued operations
demand countless billions in bailouts and ‘quantitative easing’; who threaten governments with credit rating
reductions; who replace elected leaders with technocratic place men whose brief it is to ensure that the interests
of the banks are prioritised ahead of the national population and the terms of austerity measures strictly adhered
to so that the servicing of debts owed to unelected and nameless banking oligarchs takes precedence over the
provision of health, education and welfare services to the electorate.