The Growing Trend of Debt and Islamic Teachings: An Analysis of Economic and Social Impacts قرضوں کےبڑھتے ہوئےرجحان اور اسلامی تعلیمات:معاشی و معاشرتی اثرات کا تجزیہ

الملخص

Debt is an important issue in human economic life, the need for which may arise due to unavoidable circumstances, emergency requirements, and business activities. However, in the contemporary era, the extraordinary increase in the trend of borrowing has become a serious economic and social problem. In the modern economic system, easy access to loans, credit cards, installment-based purchases, consumer financing facilities, and the provision of loans by various financial institutions have apparently increased the opportunities to meet human needs. On the other hand, unnecessary expenditures, ostentation, luxurious lifestyles, and living beyond one’s means have caused individuals and families to remain under a continuous burden of debt. If a loan is taken according to genuine need, for a lawful purpose, and while considering the borrower’s actual ability to repay, it can serve as a means of meeting an economic necessity. However, when borrowing becomes a habit or a means of fulfilling luxuries and unnecessary desires, its effects extend beyond an individual’s financial independence and begin to affect the entire family and society. Islam has addressed the issue of debt with great seriousness, and the Qur’an and Sunnah provide clear teachings regarding the repayment of debts, financial responsibility, mutual cooperation, honesty, and good treatment of those in need. The Qur’an directs that debt transactions should be documented properly, thereby establishing the foundations of transparency and responsibility in financial dealings. Similarly, the Prophet Muhammad ﷺ emphasized the importance of repaying debts, protecting the rights of debtors, and treating creditors with fairness and kindness. The Islamic economic system discourages extravagance, wastefulness, greed, and financial irresponsibility, while promoting moderation, contentment, frugality, and mutual cooperation. In the contemporary era, the increasing burden of debt has resulted in mental stress, family disputes, economic instability, social inequality, and, in some cases, ethical and legal problems. Therefore, it is essential to examine the growing trend of debt not merely from an economic perspective but also from Islamic, ethical, social, and human perspectives. The present study analyzes the major causes behind the increasing trend of indebtedness, its effects on individuals, families, and society, and the ways in which Islamic teachings offer an effective solution to this problem through responsible financial behavior, caution in borrowing, and the promotion of economic balance.