News:

In a report released by the Statistics and Insolvency Department, nearly 45,000 individuals aged less than 35 years in the country declared bankruptcy three years ago. Of these, an average of 41 people every day declared bankruptcy due to failure to pay credit card debt, medical fees, hire purchase and debt with a loan shark. The Studies, Research and Resource Centre (SRRC) showed that out of the 47 percent of those charged with serious debt, and upon observing the behavior and habits of the young people, 37 percent of this group admitted that they spend more than the monthly salary. Recently, on October 28, 2014, Harian Metro reported on the front page that a large number of women in Malaysia aged in their early 20s will go bankrupt. The increasing cost of living every year also was said to contribute to the problem of young people's financial management.

Comment:

Quoting the statistic issued by the Economic Planning Unit (EPU), the Prime Minister's Department four years ago, the monthly gross income of the household in the urban area had increased to RM 4,705 compared to RM 3,357 ten years ago. This actually means that becoming bankrupt is not supposed to happen at a young age. If we think deeply about it, this could only happen in an unstable economic system which led to the adoption and implementation of a greedy and wasteful lifestyle.

The capitalist economic system which is practiced nowadays has failed to create a prosperous and harmonious life style. This is clear since capitalism plants the perception that happiness is achieved by acquiring maximum physical pleasure without spiritual intervention. This ideology states that only human beings could understand fellow human beings and only humans know what humans wants. In a nutshell, only humans could satisfy their needs and wants; therefore, only humans could create their own man-made system to achieve the above.

In order to satisfy the insatiable lust and desires, its methods and mechanism no longer take into consideration its suitability with the nature or "fitrah" of the human being as to being the slave of The Creator (Al Khaliq) as long as it helps them achieve potential gains. This has affected the community nowadays; affecting the minds which have been implanted with the idea that life's motivation is to gain the worldly material wealth, instead of racing to gain the pleasure of Allah (swt). This has led the younger generation to look for material wealth and modern life style without taking into account their financial standing. Allah (swt) has reminded the human beings not to stay away from His (swt) path and guidance and not to lead such a luxurious lifestyle as stated in the Holy Quran:

((فَمَنِ اتَّبَعَ هُدَايَ فَلَا يَضِلُّ وَلَا يَشْقَى * وَمَنْ أَعْرَضَ عَن ذِكْرِي فَإِنَّ لَهُ مَعِيشَةً ضَنكًا وَنَحْشُرُهُ يَوْمَ الْقِيَامَةِ أَعْمَى))

"Whosoever follows My guidance, will not lose his way nor fall into misery. But whosoever turns away from My Message, verily for him is a life narrowed down, and We shall raise him up blind on the Day of Judgment." [Taha: 123-124]

((وَاتَّبَعَ الَّذِينَ ظَلَمُواْ مَا أُتْرِفُواْ فِيهِ وَكَانُواْ مُجْرِمِينَ))

"But the wrongdoers pursued the enjoyment of the good things of life which were given them, and persisted in sin." [Hud: 116]

His (swt) promise is true to those who deviate from His (swt) commands and prohibitions; the Do's and Don'ts.  Therefore, let us strive to return to the correct foundation of thinking as well as return to Islam through the Khilafah "Caliphate" state and Islamic system which will ensure the complete and holistic implementation of Shariah. Wallahu a'alam.

Written for the Central Media Office of Hizb ut Tahrir by

Sumayyah Ammar

Member of the Central Media Office of Hizb ut Tahrir