Surah 1-2 - YasSarNal QuR'aN

Al-Baqarah (The Cow) | SAFEGUARDS FOR FINANCIAL TRANSACTIONSthese circumstances, to facilitate the transaction and ensure repayment of the loan, averbal agreement is valid and binding provided a tangible article is given, andaccepted, as security for the loan: “If you are on a journey and cannot find a scribe,pledges taken in hand [are sufficient]. If you trust one another, let him who is trusted fulfil histrust, and let him fear God, his Lord.” (Verse 283)Both creditor and borrower are trustees: the former entrusted with the securityand the latter with the money he has borrowed, and they are both called upon tofulfil their trust and fear God, the ultimate master and ruler and judge over all.We do not subscribe to the view advanced by some jurists that this rulingsupersedes the one given in the preceding verse which makes the writing down ofloan agreements obligatory. We believe that written documentation is essentialexcept when the two parties are on a journey, in which case security must beprovided for the loan and both parties are under an obligation to fulfil their part ofthe verbal agreement.With all these principles in mind, the sūrah speaks about giving evidence in casesof litigation: “You shall not withhold testimony, for he that withholds testimony is sinful atheart. God has full knowledge of all you do.” (Verse 283)Transgression in this instance is attributed to the heart, where man’s intention todo or not to do things originates, but the statement contains a veiled threat instressing that “God has full knowledge of all you do.” God will certainly recompensepeople according to His knowledge which uncovers any sinful intention.Where Ultimate Authority LiesThe sūrah goes on to elaborate this point further, arousing deeper fear andconsciousness of God, to whom everything belongs and who is aware of everythought, whether concealed or stated. He is sure to bring everyone to account, andHe has full control over people’s ultimate destiny: “To God belongs all that is in theheavens and the earth. Whether you make known what is in your minds or conceal it, Godwill bring you to account for it. He will then forgive whom He wills and punish whom Hewills. God has power over all things.” (Verse 284)One of the most distinctive features of the Qur’ānic legislative approach is that itcombines purely legalistic directives with emotional and spiritual exhortations. Thus,it links the rules to be implemented in human life to their source, the Creator of alllife, within a context rich with fear of, and hope in, God Almighty. Islam mouldsindividual hearts and souls, as well as society as a whole, to which it addresses itslegislation in order to achieve perfect harmony between morality and law, piety andauthority. It is a code of life designed and laid down for man by his Creator, which403