The financial crisis has enveloped the entire world these days. All nations of the world the developed and the under developed countries are trapped in this tangle. The countries which have strong enough economic conditions are also suffering from this. They were believed that they will rule the world but now they are suffering a lot. Now a days the era is more advanced and the technologies are more advanced.
The food, science, medicine, weapons are of advanced technology and now these are the major problems facing this world. The truth of the matter is that these economies were based on frail policies which have collapsed, resulting in a global economic crisis. The true controller is The God and following his teachings. The Muslim nations are also involved in similar practices instead following the guidelines laid out according to Islamic teachings. The cause of economic crisis the lending institutions in the western countries use funds deposited by their clients and forwarded this money as loans to those persons wanted to buy homes or automobiles.
The borrower does not pay attention to the amount of money he will be paying in interest during the term of contract, since his income is limited and he has to run the house hold along with re-paying loans. He finds himself sinking in a deep debt. As Middle Eastern countries have claimed that they are not facing any financial crises are just telling not truth, they are also suffering with the same situation as other well developed countries. Most of the funds are used in loans which could not be returned back, similarly the funds are also provided to the institutions for the well fare of countries but it is our bad luck that those funds were misused and resulting into a big economic crisis.
Car sales have plummeted to a record low and air travel is on the decline, individuals are spending less on all that comes under the umbrella of personal entertainment , which again results in the rise of depression. The instability and fraud and frustration and the sense of imminent war that exists in the world today is a result of the wealth of the world revolving. The main reason for the destruction of the world peace also stems from the fact that the richer nations have been eying the natural resources of the under developed countries.
Following are the points to be considered:
1. Learn to stay within your means, at a personal and at a nation level.
2. Refrain from interest
3. Wealthy nations should abstain from trying to gain control over natural resources of other countries.
4. Heads of the nations should be loyal and patriotic to their countries.
5. The rights and obligations of poor must be fulfilled.
The food, science, medicine, weapons are of advanced technology and now these are the major problems facing this world. The truth of the matter is that these economies were based on frail policies which have collapsed, resulting in a global economic crisis. The true controller is The God and following his teachings. The Muslim nations are also involved in similar practices instead following the guidelines laid out according to Islamic teachings. The cause of economic crisis the lending institutions in the western countries use funds deposited by their clients and forwarded this money as loans to those persons wanted to buy homes or automobiles.
The borrower does not pay attention to the amount of money he will be paying in interest during the term of contract, since his income is limited and he has to run the house hold along with re-paying loans. He finds himself sinking in a deep debt. As Middle Eastern countries have claimed that they are not facing any financial crises are just telling not truth, they are also suffering with the same situation as other well developed countries. Most of the funds are used in loans which could not be returned back, similarly the funds are also provided to the institutions for the well fare of countries but it is our bad luck that those funds were misused and resulting into a big economic crisis.
Car sales have plummeted to a record low and air travel is on the decline, individuals are spending less on all that comes under the umbrella of personal entertainment , which again results in the rise of depression. The instability and fraud and frustration and the sense of imminent war that exists in the world today is a result of the wealth of the world revolving. The main reason for the destruction of the world peace also stems from the fact that the richer nations have been eying the natural resources of the under developed countries.
Following are the points to be considered:
1. Learn to stay within your means, at a personal and at a nation level.
2. Refrain from interest
3. Wealthy nations should abstain from trying to gain control over natural resources of other countries.
4. Heads of the nations should be loyal and patriotic to their countries.
5. The rights and obligations of poor must be fulfilled.
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