INTEREST

Conclusion

It can reasonably be expected that mass awareness can be created against interest by following and implementing the above mentioned strategies. As a result, efforts to avoid interest decleared haram by Allah SWT can get momentum. It is noteworthy that the mentality of the majority people of Bangladesh is strongly Islam oriented. Contrary to it the existing laws, social behaviour and the mentality of the majority businessmen are in collision with the Islamic faith and beliefs. Thus there exists a precarious psycho-social environment in the society. 

Till today entire trade and commerce, capital and credit, savings and investment of the country are regulated by the capitalist system based on the Roman-British law. Considering this adverse situation it can be said that we need a strong will, the power of faith and Allah SWT's divine guidance to give up and uproot interest. We need well planed initiatives to make the people aware of the devastating impact of interest. Strategies discussed here to avoid and eliminate interest are not the last words. More suitable ways and effective strategies can be devised. But no fruitful result is expected if the strategies remained confined in papers only. In fact, if we can go ahead slowly but steadily on a well devised action plan, hopefully Allah's help will be with us.

If the economy becomes interest free there will be a continuous demand for investment on the one hand and good utilization of savings on the other. As a result, there will be increased production, employment and balanced distribution of wealth. Competition will increase. Monopoly will decrease. The chance of earning excessive profit and anti-social investment will be stopped. However, in order to stop oppression and eradicate deprivation from the society interest must be uprooted. It is the scientific way. Allah SWT promised in the holy Quran that ' نَصْرٌ مِنَ اللهِ وَفَتْحٌ قَرِيبٌ 'Help from Allah and victory is near at hand' (Al-Saff: 13). But we have to prepare ourselves to be worthy of it. To uproot interest from the society is in a sense Jihad. Therefore, we should be ready to meet any kind of sacrifice in this Jihad. Thus the humanity may get rid of the dreadful severity of interest. There will be the possibility to seek Allah's help and forgiveness through the acceptance of our prayer with Halal livelihood. And besides, the welfare of the worldly life and the rewards of the world Hereafter will also be ensured simultaneously.