Islamic Banking Alumni President cautions Sadiq over “interests”

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Malam Ahmad Suleiman Gimba
Malam Ahmad Suleiman Gimba

The National President of the International Institute of Islamic Banking and Finance, (IIIBF) Alumni, Bayero University, Kano, Nigeria, Malam Ahmad Suleiman Gimba has condemned the write up of one Ali Abubakar Sadiq titled “Is bank interest Riba or not?” which went viral especially in the social media and thus generated serious controversy among the populace.

The National President read the entire write up and found it completely unacceptable and blasphemous against the Noble Prophet Muhammad and indeed intellectually and academically deficient. Its content was deficient in the manner and lacked research attitude completely as measured by the Alumni.

The National President explained that Islamic banking and finance was not new to Muslims and non-Muslims too. And as the writer dwelled on Riba, implicating himself and causing uproar, nothing is new and out of point in practice. Especially everything was well written and documented by Islamic researchers and historians.

Ali Abubakar Sadiq, as explained by the National President, is not a Tafsir expert nor an Islamic jurist, yet he went ahead to explain and translated portions of the Holy Qur’an based on his myopic understanding and composite reasoning, which ridiculed him and proved his Shariah and fiqh inadequacies or rather absence.

Mal Ahmad also dispersed his explanations about the Prophet taking loans and paying back with interest. His narrow readings by himself and not under any qualified tutor put him at risk of loosing him “Iman” (belief), once he continues in his path of ignorance.

The writer was advised to seek knowledge under-qualified teachers and not to read books and move on the path of mockers and storytellers, just as the ignorant men of Jahiliyya period.

The National President advised the public to shun the write-up, and also urged members of the public who are interested in Islamic knowledge especially in Islamic finance, banking and its subsidiaries such as Ijarah, Murabahah, Sukuk, etc to visit the IIIBF at Bayero University, Kano for chances to update their understanding fully.

In the end be thanked some of the Alumni members who quickly drew the writers' attention with intellectual write-ups, over his grievous mistakes. Malam Gimba also thanked Professor AbdulRazzaq Alaro for his sharp academic treatise of the matter.

1 COMMENT

  1. Comment: MASHA ALLAH. Another development came to college of adminstrative and business studies. AHMED SULAIMAN GIMBA. That’s a great achievement not only 4 u but the entire college.
    May his bless u and i wishes u success in all ur future endevours.
    HAVE MY CONGRATES SIR.

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