Last week, Morsi's government officially begged the IMF for a $4.9 billion loan. Egypt's Prime Minister, Hesham Qandil described the 5 year loan to be paid back with 1.1% rate as a good deal for the country.
The Prime Minister appeared live on Egypt's state television in a desperate bid to justify the loan not by explaining its benefits to the people, as he knows very well that the IMF is an international vampire that sucks the blood of the people, strengthens the economy of the Western powers and props up rulers allied to the West. Instead, he chose to emphasize that Egypt would somehow have the upper hand over the IMF in how the money is to be spent. He said,"It is Egypt that will mainly have the authority when it comes to how these funds will be spent."
However, he was unable to conceal the truth and in his follow on statement, he contradicted himself and exposed one of IMF's stipulated conditions, which is to force Morsi's government to cut spending related to looking after the affairs of the Egyptian people. He said, "It is an Egyptian programme that will work on cutting and spending and adopting certain other measures."
Fearing backlash, Qandil intentionally chose not to elaborate on the other draconian measures. It is well known that such measures include: increase in taxes, price hikes on essential items, and further loans from other institutions. All of which will make the people suffer immensely and add to their misery. In fact the Financial Times confirmed these measures. On August 22 2012, the paper stated: "The IMF wants Egypt to outline plans to reduce its budget deficit by bolstering revenues and trimming the costly public sector, including fuel and food subsidies. Egypt must also secure financing from other lending institutions as part of the loan terms."
Qandil ended his live broadcast by spelling out in unequivocal terms how Egypt and her people would become hostage to IMF's humiliating conditions over the next five years. He said, "Both parties have to agree on certain terms and conditions, and these terms and conditions will be binding to the country that signs this loan."
So in a matter of 20 days since he took office, Qandil has dashed the hopes of the Egyptian people who were expecting much relief from decades of economic repression under Mubarak's rule. Additionally, Qandil has gravely undermined the Egypt's economic sovereignty by affirming the continuation of IMF's wide spread interference in the country's economy, just as it acted with impunity during Mubarak's era. It is forbidden to give Kafir powers and their international financial institutions authority to interfere in the establishment of economic policy and its subsequent execution. Allah says:
وَلَنْ يَجْعَلَ اللَّهُ لِلْكَافِرِينَ عَلَى الْمُؤْمِنِينَ سَبِيلًا
"And never will Allah allow the disbelievers to have a way over the believers." [An Nisaa, 4:141]
Besides, Egypt is not in need of any loans or economic assistance. We ask Morsi and Qandil, what happened to the $70 billion that Mubarak and his family usurped from the people. Why it is that Morsi's regime remains quiet on the recovery of the plundered loot that rightfully belongs to the Egyptian people, but extends its begging bowl to be filled by humiliating IMF loans?
Whilst the treachery of Morsi's regime is becoming clearer to the people the voices of support for Morsi's collaboration with the IMF from Islamic groups is truly disappointing. The Vice President of the Salafi Dawah group, Yasser Borhamy attempted to legalize the riba on IMF loans. He said that the interest on the loan Egypt is set to receive from the IMF does not involve usury, since the interest on the loan is only 1.1 percent, paid in the form of administrative fees, the loan could be considered a grant. Previously, Yousry Hammad, spokesperson for the Salafi Nour Party, had stated that the interest on the IMF loan is not prohibited because it constitutes administrative fees. We ask Borhamy and Hammad as to why are they attempting to describe riba (not matter how minuscule it may be) as halal when Allah and his messenger have declared it haram. Allah says:
يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِنْ كُنْتُمْ مُؤْمِنِينَ
فَإِنْ لَمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِنَ اللَّهِ وَرَسُولِهِ
"O those who have Iman, fear Allah and give up what still remains of the riba if you are believers. But if you do not, then listen to the declaration of war from Allah and His Messenger." [Al Baqarah, 2:278-279]
حَدَّثَنَا أَحْمَدُ بْنُ يُونُسَ، حَدَّثَنَا زُهَيْرٌ، حَدَّثَنَا سِمَاكٌ، حَدَّثَنِي عَبْدُ الرَّحْمَنِ بْنُ عَبْدِ اللَّهِ بْنِ مَسْعُودٍ، عَنْ أَبِيهِ، قَالَ لَعَنَ رَسُولُ اللَّهِ صلى الله عليه وسلم آكِلَ الرِّبَا وَمُوكِلَهُ وَشَاهِدَهُ وَكَاتِبَهُ
Abdullah ibn Mas'ud narrates that the Messenger of Allah صلى الله عليه وسلم cursed the one who accepted usury, the one who paid it, the witness to it, and the one who recorded it. (Sunan Abu Dawud: Book 22, Number 3327)
Oh Muslims of Egypt! Within the first 70 days of Morsi's rule, you have witnessed to true extent of his support for America's hegemony in Egypt, as well as his disregard for Islamic rules. The ugly achievements of his regime are: reaffirmation of peace with the Jewish state and enhanced security for the Jews through the demolition of tunnels providing vital supplies to Gaza, injection of fresh military blood to protect American interests from the continued revolts of Egyptians, appointment of a Christian women as a confidant, subjugation of the country to disgraceful IMF conditions and the legalization of riba. The spectacular speed at which Morsi is unveiling his pro-American reforms, he will soon outstrip the ugly achievements of Mubarak's regime.
Oh Muslims of Egypt! You will never enjoy economic prosperity as long as you remain silent against the non-Islamic laws that are openly implemented and justified in the name of Islam. Allah says:
وَمَنْ أَعْرَضَ عَنْ ذِكْرِي فَإِنَّ لَهُ مَعِيشَةً ضَنْكًا وَنَحْشُرُهُ يَوْمَ الْقِيَامَةِ أَعْمَىٰ
"As for the one who disregards My message, he will have a miserable life, and we resurrect him, on the Day of resurrection, blind." [Ta Ha, 20:124]
Oh Muslims of Egypt! Your only salvation lies in the absolute rejection of Morsi's regime and his pro-American reforms. To do this, you must redouble your efforts to re-establish the rightly guided Khilafah and immediately return the land of Qanana to its rightful state.
Only in the Khilafah state will you be able enjoy true economic prosperity through the use of money based on the gold standard, in the share of the public properties managed by the state on your behalf, and the protection of your ownership through Islamic contracts. Furthermore, for those of you who are unable to meet their basic needs of food, clothing and shelter, the state will guarantee these for you.
يَا أَيُّهَا الَّذِينَ آمَنُوا اسْتَجِيبُوا لِلَّهِ وَلِلرَّسُولِ إِذَا دَعَاكُمْ لِمَا يُحْيِيكُمْ ۖ وَاعْلَمُوا أَنَّ اللَّهَ يَحُولُ بَيْنَ الْمَرْءِ وَقَلْبِهِ وَأَنَّهُ إِلَيْهِ تُحْشَرُونَ
"O you who believe! answer (the call of) Allah and His Messenger when he calls you to that which gives you life; and know that Allah intervenes between man and his heart, and that to Him you shall be gathered." [Al-Anfal, 8:24]
14 Shawwal 1433