Critical Issues In Islam

1582 Words7 Pages
Islam today is facing challenges from within and from the wider world. The critical problems are the fundamental tensions within Islam. The attitudes and criticisms common in the outside world can be ignored as misguided or hostile, but the tensions within Islam throughout the world must be confronted. In a simple geographical sense, Islam has to come to grips with its changing centres. The religious centres define the heartland: Saudi Arabia maintains its guardianship of the shrines at Mecca and Medina, and the conduct of the hajj, against the claims of Shii Iran, the Shii tradition, and other sects disillusioned with Saudi Arabia's credentials within the ummah. Saudi Arabia enjoys much of its strength to repudiate other claims because it…show more content…
Muslim investors appear quite happy to send their money into the non-Muslim economies, where greater profits are available and the political and social circumstances are much more settled. In other cases, where people are trying to help their communities they often encounter problems from unlikely sources. The Grameen Bank in Bangladesh has been lending small sums of money, mostly to rural women so that they can engage in small enterprises, but also to collective groups. The sums are small and the interest is fixed, with the principal being repaid first and the interest calculated on the diminishing principal. Twenty per cent interest per year still seems high, but it is tiny when compared with the twenty per cent per month or ten per cent per day demanded by the traditional money-lenders, or the compound interest at Bangladesh's commercial banks. The Grameen Bank lends money to people who would not be eligible in the normal commercial sense. People are helped to determine the best way to satisfy their needs and are helped by the bank's officers in the villages. The Grameen Bank goes out to its clients and it permits the good sense and honesty of its clients to prevail: it has a recovery rate of some ninety eight percent. The bank faces conflict from the traditional money-lenders, the commercial banks which claim that the scheme is too small to create the economic growth necessary in Bangladesh, and from the Muslims who see the scheme emancipating women in the villages. The bank fulfils the ideals of Islamic thinking, but is attacked by established interest groups defending their interpretation of Islamic
Open Document