Finance global crisis that occurs in America have affected a deep economic collapsion in the USA economion. Financial crisis that have been begun from subprime mortgage crisis melted several big financial institutions. Finance giants as Lehman Brothers fall, American International Group (AIG), Merrill Lynch, Morgan Stanley Goldman Sach are in the same. USA governance is forced to take over those institutions. The investors begin to decrease their trusteedhip, that make stocks prices of main stock market in the wold declined, include Indonesia.
After the collaps of financial institutions, swallowing rival institutions glower and glower. Hostile taking over became a proper scene in the market rule. Finance institution could be fooled with speculator. Market become wilder and mob.
There are many analysis in the finance market meltingdown, started from USA deficit policy, low rate of interest policy in the Greenspan era, politicus greed, speculation of market enlarger, a very high cost of oversea politic, manipulation of financial statements and so on. Almost of those analysis doesn’t reach the main cause deeply, so whatever the prescription and strategy recoveries are given will not be powerful indeed. The crisis disaster will back and continuesly repeated.
Kapitalism economic system that sensitive to any crisis, doesn’t prohibited maghrib practice instead Islam does. Maghrib is an acronym of maysir, gharar and riba. This three forbidden practices are the main causes of crisis. Maysir is business practice in the form of gamble and speculation. Speculation always occurs in the stock market shaped as short selling and margin trading. Whether gharar is a unreal transactions, derivative and so that it is a high risk business. And the riba is seeking for profits based on real bisnis transaction. The aim of investor is not really to invest their share but only to reach gain trough margin trading practice. More than that it has to recognized that in the financial market, margin trading is decided according to interest instrument.
In the finance market speculative transaction of foreign orientation often happen. All of those transactions are prohibited by shara’ because it obtain riba. In the other hand economi in Islam is the way to attempt to balance between real sector and monetary sector ( in another word economy 1 on 1). It has mean an economy system that make a relevancy between monetary sector and real sector. Explicitly, one monetery unit for one real asset. in order to that framework islam teaches a real business practice though purchase and sale.
The heart of capitalism economic system is riba (interest, gambling, and speculation). Riba is the main cause of any finance crisis. Speculative activity shaped margin trading and short selling in the stock market is riba, because it is based on un real underlying transaction. Speculation activity on monetary just for speculation itself, not for any real transaction is a ribawy activity. Whether being on the alert is not recommended. One stop solution is back to how islam teach us in business, because islam didn’t come to only muslim, it came to manage entire the world live.