this post was submitted on 18 May 2023
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Islamic Leftism

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Welcome to Islamic Leftism, a space for muslims leftists.

Lemmygrad rules apply:

  1. No capitalist apologia / anti-communism.
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  5. No right-deviationists (patsocs, nazbols, strasserists, duginists, etc).
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Rules for Islamic leftism:

  1. No discrimination against other faiths or to those who lack it

  2. No uncritical judging, always look for the cause of things before doing judgement

  3. No compulsion in acceptance of the religion, if someone decides to leave or enter Islam let them for Allah is all-Knowing all-Wise and all-Forgiving

  4. No takfir ( excommunication ) against the innocent believers or other persons who don't share the same beliefs or ideas

  5. No treachery, show kindness to others even if they are mean to you

  6. Be always open to different jurisprudence or schools in Islam

  7. No discrimination against different schools or sects in the religion and outside of it. Is better to be united and in harmony

  8. Be respectful to eachother be it religious or non-religious, believer or non-believer

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Islamic Finance: A viable socialist alternative to Western finance? (lemmygrad.ml)
submitted 2 years ago by Neptium@lemmygrad.ml to c/islamicleft@lemmygrad.ml
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I was reading Socialism's Ignored Success: Iranian Islamic Socialism by Ramin Mazaheri, and they mentioned something that has become a common sight here too: Islamic finance.

Iran is leading in Islamic financing, with Saudi Arabia, Malaysia, the UAE and Qatar filling the rest of the Top 5 according to this report.

For those who don't know, it's basically finance but with Islamic principles as accorded to the Quran and various Madhhabs (schools of jurisprudence).

Some of it's principles are (quoting Wikipedia), among others:

  1. Paying or charging interest. "All forms of interest are riba and hence prohibited". Islamic rules on transactions (known as Fiqh al-Muamalat) have been created to prevent use of interest.
  2. Investing in businesses involved in activities that are forbidden (haraam). These include things such as selling alcohol or pork, or producing media such as gossip columns or pornography.
  3. Charging extra for late payment. This applies to murâbaḥah or other fixed payment financing transactions, although some authors believe late fees may be charged if they are donated to charity,or if the buyer has "deliberately refused" to make a payment.

Has any comrades read much on this?

How viable do you think is such a financial system, especially now, with renewed interest in de-dollarisation? (see what I did there?)

Can it fully live up to it's socialistic principles in a world capitalist system?

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