Abstract
Each and every element in the universe is playing a given role in maintenance and preservation of the systems it comprises. The universe and whatever it comprises offers strong signs for people provided they have sense to understand (Qur’¯an 2:164). All human beings, their future generations and other creatures on the planet, have an equal right to benefit from the natural resources. Going against the laws of the nature means violating the trust, while abusing the knowledge and power given by Almighty has brought hardships to humanity itself and destruction to life and wealth. Nature requires that all must honor the rights of others by avoiding the immoral and prohibited acts or contracts to exploits the fellow human beings at individual, communal or national levels. The man transgressed and damaged the balance of the nature with its evil deeds and rebellion to the nature’s laws. The Qur’¯an teaches that human need cannot justify transgressing the equally legitimate needs of other species. The Corona pandemic has caused economic chaos and uncertainty in the national as also global economies. All countries, developed and underdeveloped, alike are facing an unprecedented economic crisis as they attempt to contain the impact of the pandemic. This editorial relates the current and the earlier pandemics to the transgression of human beings against the nature. Man needs to be pro-humans, pro-nature, pro-environment, pro-market with discipline, and pro-planet, that is the abode for it and for its future generations. The institutions, organizations and the firms that are flying an Islamic flag are under moral obligation to develop and implement the nature friendly principles and standards for their businesses. Specifically, Islamic financial Institutions need to be on the front lines for change in paradigms, policies and their implementation in their business.
Highlights
COVID must lead to Solidarity among all Nations The essence of feeling grateful to the nature is that human beings accept sovereignty of the Creator of the universe, abide by its rules, behave properly with fellow beings and other creatures of almighty and do not create hurdles in smooth functioning of the systems operating as part of the universe
The reckless productions and distribution of resources by the man today even at the cost of our own abode, the business, financial and anti-social behavior of the nations, organizations, and even the individuals pushing majority of the human beings in abstract poverty and helplessness has invited the wrath of the nature
Islamic finance is based on the principle of sharing risk and reward justly
Summary
The Economics and Finance World view against the Rules of Nature While discussing the impact of Corona on human life and economies, we need to ponder about the objective and essence of life in the Universe and the built-in consciousness among the human beings to differentiate between good and evil, and need for fairness and justice. COVID must lead to Solidarity among all Nations The essence of feeling grateful to the nature is that human beings accept sovereignty of the Creator of the universe, abide by its rules, behave properly with fellow beings and other creatures of almighty and do not create hurdles in smooth functioning of the systems operating as part of the universe.
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