The document is a letter to the Prime Minister of India seeking reforms to eliminate usury and create an interest-free banking system. It argues that usurious financing is contributing to issues like farmer suicides, inflation, environmental degradation, and increasing social inequities. The letter calls for rejecting recommendations to strengthen money lending and instead eliminate debt-based money by creating interest-free loans. It suggests this could help redirect resources to critical needs like infrastructure, healthcare, and sustainable development goals while promoting socially equitable and ecologically friendly economic policies.

1. Text of the Letter to Prime Minister of India Seeking Elimination of Usury for Socially
Inclusive and Ecologically Safe IndiaList Served to the e-group of International
Simultaneous Policy Organization, London
Dear all, Please find a letter for the prime minister. I am sure this will further boost SP advocacy
on monetary reform,
Dr.M.Mukhtar Alam
=================
April 18, 2008
From
Dr.Muhammad Mukhtar Alam
Chairman, Labour League Foundation
62-A, DDA Flats, Ashok Vihar-III, Delhi-110052
To
The Prime Minister
Government of India
PMO, South Block, New Delhi-1
Sub: Interest free money and banking for the eliminating inflation, socially inclusive and
ecologically safe India
Honourable Sir,
Farmers committing suicides , nations not agreeing to uniform and simultaneous measures for
addressing the ecological challenges, increasing privatisations, loss of ecological sustainable
livelihoods, unstable currencies, social inequities calls for a rethinking of the economic and
financial institutions . There are challenges to the poverty reduction strategies and there is a
challenge to a government that has been formed for realising the common minimum programme.
Labour League Foundation in collaboration with several organisations has decided to send this
letter with the following objectives incorporating Co-operative values and principles, and aimed
at preventing both 'within-corporate' and 'outside -corporate' anti-social and anti-ecologic
violence, and achieving the self-identified aims and objectives.
• Informing the government about the options that can be exercises with long term win –
win scenario for all
• Informing the global discourse on reforming the finance sector
• Creating consensus among the civil society leaders and policy makers for initiating
transformation of finance sector
• Discussing all the movements for reforming the finance sector for making it free from
usurious transactions
• Creating a climate of opinion for socially equitable and ecologically sustainable debt free
economies
Centre for Ecological Audit, Social Inclusion and Governance has been established as part of the
effort of Labour League Foundation for realising the Kyoto Protocol emission targets, social
inclusion and fair governance.

2. We welcome UPA initiated Green India Campaign and support the local, state and national level
processes. At the same time, we also wish to address the root causes of ecologically hostile
development processes .Usurious finance system with banks creating money out of thin air is one
of the critical contributor of the ecologically hostile consumption pattern and production patterns.
Farmer's suicides, price rise, inflation, indebtedness of the poor are linked with the usurious
finance system. This has been pointed out by studies and movements. It is sad that Gupta
committee instituted by RBI has recommended for strengthening the moneylenders for alleviating
the situation of access to rural credit. Labour League Foundation calls for rejection of the
recommendations of the Gupta Committee and
Centre for Ecological Audit , Social Inclusion and Governance in collaboration with Sufi Trust,
Labour league Foundation and several other organisations has initiated carbon neutral
neighbourhood discussions for ecological safety while calling for creation of interest free money,
adoption of faith based responses for transforming consumption and production patterns,
transparent, accountable and responsive governance. A detailed reference for this can be seen in
the attached paper on Drought and Desertification that was done as part of input for Climate
Change Conference held in month of December 2007 in Bali , Indonesia.
It's interesting to learn that international monitory fund seeking advise on food security and price
stability (Mail Today 14 April 2008). This can be considered an honour for the management of
the agriculture, price. This need to be seen in the World Bank forecast for lower growth rate for
economies. It is important to take this opportunity and provide radical solutions to IMF and
World Bank as they have been the targets of people movements across. I would like to make
some of the suggestions that are based on my engagements with policy advocacy through non-
government organisations and networks of organisaiton. The undersigned had done a paper and
after circulating that to e-connected civil society leaders, politicians and think tanks. I would like
to recall some of the key points of the paper attached herewith separately along with this letter as
part of the reasons. Inflation has turned out to be a serious concern. Opposition has been taking
up the issues. Therefore, it is critical that some of the suggestions be taken up for realising the
vision of social inclusive and ecologically safe India. I think the UPA government needs to take
up some of the steps that may be recalled by the posterity. Suggestions include the following:
1. rejecting the recommendations of the Gupta Committee report calling for strengthening
the institutions of money lending for profiteering out of miseries of borrowers
2. eliminating debt based money and calling for the creation of debt free money
3. calling upon World Bank and IMF to delete servicing charges for the loans
4. regulating the expansion of private and public sector banks through strict implementation
of monetary instruments such as CRR
5. Charging demurrage for the holding of saving and reserves so that circulation of money is
promoted for strengthening renewable resource based livelihoods
6. free land from bio fuels and the utilising the best of ecologically sustainable agriculture
methods for augmenting production of food
7. promoting culture of prayer 5 times a day for moderating the consumption of green house
gas emitting services and utilities
8. promoting adoption of interfaith commons
9. Organising interfaith meetings for addressing the challenges of global warming,
desertification
10. Halting expansion of non-renewable resource based vertically oriented urban habitats
( Kapil Sibals call for ecologically sustainable horizontally spaced out habitats is
welcome. We must stop expansion of sustainable urban habitats as there is no guarantee
for full scale replacement of fossil fuel based power and energy in the future)

3. Evidences are mounting indicating the need to transform the finance sector radically though there
is not much discussion in the civil society about the ways transformation can be effected. Even
the left has no clue, as they are more content with demonizing the capitalist order. Recently, they
have called for prevention of speculative futures trading on the agriculture commodities but that
is not all that is needed for prevention of the downslide of the nation. Based on the learning from
interaction with the e-forums and movements globally, I would like to cite the following reasons
for transforming the RBI, along with World Bank, IMF and WTO. Dear Sir, it is important to
dissociate from usurious loans of the World Bank and IMF as soon as possible and call for
creation of interest free loans only considering the following:
1. Increasing demands on the state to ensure equity, inclusion and ecological
sustainability- Following the demands of the movements and scientific assessments ensuring
ecological sustainability and global equity of the consumption and production processes has
been accepted as a key consideration and sustainable development paradigm has been
accepted to be part of the development policies of the nations that have signed the millennium
development goals. Realization of the millennium development goals for sustainable
consumption and production cannot be achieved without decelerating the consumption of
fossil fuel based services and utilities. This is needed for meeting the challenges of the
climate change and addressing the Kyoto Protocol emission targets. While technology
transfer, clean development mechanisms can have impact, it is important to get the required
reduction in the global emission of the green house gases through transforming the
consumption, production, budgetary allocation and foreign direct investment (FDI) patterns.
Eliminating generation of debt-based money is an important way to minimize the flow of
money in the economies of North and South. It is important to stabilize the currency values
and ensure protection to the ecologically sustainable sources of livelihoods across the world.
An unprecedented heating of economies is being offered as the vision for growing economies
such as India and China without realizing the limits to the sustainability condition of the
exhaustible resources. Dear Sir, there is guarantee for ensuring sustainability of the GDP
growth rates as there is no guarantee for the supplies of energy for fuelling the transportation
systems based on fossil fuel based energy.
2. Increased debt service obligation due to the charging of the compound interest rates-
debt service obligations of India and nations in South and North need to be eliminated for
ecologically sustainable growth and for liberating resources for ensuring access to basic
services. Some years ago India had to pay more than 40% of the tax receipt for servicing the
debt. The money could have been used for developing infrastructure for providing basic
services. This is applicable to many nations of the South that are advised to reform their
economies for attracting more and more FDIs while being compelled to the repay the debts
through getting more loans under various stabilizing mechanisms. Charging of compound
interest for both short tem and long term loans needs to be avoided as this is responsible for
the outflow of the foreign currency and tax receipts /local resources that are vital for the
socially inclusive and ecologically sustainable development needs.
3. Creation of fiat money/ usurious money is accelerating globalization of non-renewable
resource based consumption and production patterns. Profiteering being the key agenda
drives all the operations of the World Bank, IMF and other regional banks such as Asian
Development Bank. Making profit from want is presented as a legitimate reason for charging
of interest even for the creation of productive and ecologically sustainable capacities in the
developing countries. It would be important to liberate banking and finance from usury and
charging of the interests. This will have salutary effect on the movement of capital, as lots of

4. capital will be lost due to the deletion of usurious money from the books of the accounts.
Banks will have no incentive for charging interest on the loans. Therefore, there is a need to
protect only the tax payer supported public banks and cancel the licenses of private banks. It
is just insane that there are more ATMs than needed and there are more banks than needed in
the urban areas. This is a cause of wastage of green house gas emitting energy required for
running the machines and establishments.
4. Globalization of the discontent due to the impacts of climate change- more and more
people are suffering from the impact of climate change that has been induced by the emission
of inequitable consumption of the fossil fuel based services and utilities across the cities that
are experiencing various sorts of globalization. Differential responsibility for addressing the
climate is a hurdle that needs to be addressed. Exclusion of China and India has been resented
as the countries with higher emission levels are called for meeting the targets while the
developing economies are provided time. Deletion of the usurious money from the system
will have a significant impact on the development financing and analytic and advisory
outputs will be geared for ensuring social equity and ecological sustainability while
catalyzing civil society and political action for simultaneous adoption of consumption
patterns that are ecological friendly and social equitable with focus on the ecologically
sustainable livelihoods. John Bunzl www.simpol.org has been advocating the principle of
simultaneity for meeting the global challenges and this is need for sharing of the interest free
loans at interpersonal, national and global levels.
5. Interest based debt financing with freedom for deregulated banking creating inequitable
prosperity and unsustainable accumulation of wealth. Usurious finance system is responsible
for over accumulation of wealth in some countries that are benefiting some of the
corporations. Instances of distributive injustices galore and they fuel the call for ensuring the
divide for the consumption pattern within and between the regions and populations groups.
Debt relief has been accepted for some countries that are highly indebted. Uganda is an
example where sustained growth has be projected with the freedom from debt service
obligations. Accumulation becomes unsustainable as there are growing economic divide
within the countries that protect usurious institutions. Also accumulation of nonrenewable
resource based wealth is transitory.
6. Dispossession of the poor due to non-payment of interest based loans within and
between the nations- many among the poor and Dalits have lost their small landholding for
paying the usurious loans collected from the moneylenders in the rural areas. Situation in the
urban area may be slightly different where access to public health services is relatively better.
Shaheed, my cousin and a construction worker got a serious injury in the head and he
succumbed to death as medical attention was not provided in time. Sajnu got his leg
dismembered due to lack of medicine in right time for small wound in the leg. Bhikhana
baba, the father of Sajnu in a village called Kishandaspur (Bihar,India) in Bhagalpur district
and had to sell his land for meeting the medical costs for his son. There are many poor and
dalits who are suffering and losing their smallholdings for meeting the medical costs in the
various states of India. Arif a young boy is suffering from ulcer and his parents had to take a
usurious loan of Rs.18,000,- for meeting the medical costs. Arif is suffering from peptic ulcer
and his father has taken a usurious loan for meeting the medical cost. Aseer , the father of
Aseer and Darudni his mother are working hard as sharecroppers for meeting the cost of his
son and they are using the hard earned food grains to pay off the usurious loans .His parent
may not be able to pay all the amount and his hard earned livelihood as a sharecropper will be
needed to pay for the loan he incurred for meeting the medical costs .There are millions of
such cases where poor and dalits are feeling the burnt of the privatization of the medical

5. assistance services and lack of access to affordable medicine and public health delivery
services. It is likely that millennium development goals for health may not be achieved if
access to quality health care is not ensured and poor are not freed from pawning their meager
resources. Farmers have committed suicides in the several states of India, as they have not
been able to pay the usurious loans. Formation of the union of wives of such farmers named
All India Widow and Destitute Women's Movement is a testimony of the peoples suffering.
They demonstrated in Delhi and met Sharad Pawar, the Union minister for Agriculture,
Government of India. Indebtedness of the nations similarly dispossesses and deprives the
nations of the vital resources and tax receipts that could be used for providing basic services.
7. Ecologically hostile development paradigm is getting accelerated application
eliminating renewable resource based livelihoods- Usurious finance system is responsible for
the generation of fictitious money that is being pumped in the ecologically sustainable
economies for projects that are ecologically not sustainable. This is being done through
arguing for more foreign direct investment and then creating a better regulatory environment
for investments. This has been part of most of the Poverty Reduction Strategy Papers that
have been done for obviating the critique for the structural adjustment programmes that were
launched in early 90s after collapse of Soviet Union.
8. Instituting interest free transactions across the world for ensuring environment
sustainability and ecological safety – For those who have been convinced of the need to
remove usury from the transaction of value at various levels, it is important to transform the
institutions that are involved in shaping the investment patterns across the regions and
continents. There is a need to communicate on the eliminating permission for private money
lending through charging of usury. There is need to communicate that all men and women
believing in God and the Day of Judgment must stop charging interest on the money that has
been lent. There is need to educate the future generations through including this in the
curricula at all levels. There is a need to eliminate usury and interest from the loans. This
could be one of the major demands to the World Bank as it is easier to convince for interest
free loans then debt cancellation by all the nations that are highly indebted. Returning the
principal amount is easier and more dignified. Even so, forgiving debt is itself a virtuous act.
UPA government by forgiving the loans of farmers to the tune of 60000 thousand crores has
done a virtuous act but then it is critical to find a sustainable mechanism for eliminating
usurious debts.
Actions at the Global Level
1. Global Justice Movement www.globaljusticemovement.net argues that usury is not
necessary. They have based their conclusions on the need to generate interest free loans for
productive capacities. Rodney Shakespeare and Robert Ashford base their conclusions on the
work on binary economics. Dr. Muhammad Mukhtar Alam has argued for the need to adopt
monotheistic framework for resolving the disputes and creating a global consensus for
transforming banking and money where charging interests is considered a non-negotiable
foundation. Norman Kurland through advocacy of the Third Way is calling for the
elimination if usurious finance.
2. American Monetary Institute www.monetary.org is seeking reform in USA . Stephen
Zarlenga concluding a recent conference in Washington called for the need for wider
acceptance of the need to reform the monetary system. Details can be seen at
www.monetary.org
3. Local exchange trading system LETS promoting barter followed by hundreds of groups
across Europe www.letslink.org . There is recognition of the need to promote exchange of

6. commodities and services in real terms rather than through using paper currency. People are
already exchanging services and commodities in LETS network. More than 250 networks
have been formed across Europe recognizing the evils of the paper currency and eliminating
usury.
4. JAK bank (Sweden) calls itself first interest free bank. They are running the bank based
on the principle of cooperation without charging interest. All those participating in the bank
are stakeholders and they are running the bank through recognizing the peoples need for
transaction of value rather than for being part of the enterprise where peoples need are
exploited for generating usurious profit for some of the stakeholders.
5. Islamic banking (banks following the commands against the usury) is based on sharing
of the losses and sharing of the profits and Muslims globally are interested in freedom from
the usurious finance system. Allah commands all to forgive debts if possible and stop
charging usury. There are several verses in Qur'an to this effect. There are commands in the
Bible and Sanskrit texts as well. Muslims feel that Christians and Jews should follow the
commands of God in Bible and they should join their forces for liberating banking from
usury. Hindus, Buddhists, Sikhs , Jains following the commands need to oppose partaking of
the food obtained through usurious money. Thus all of us with various religious identities
need to say No to usury. Saying No to usury thus is not only pleasing for God but also for
establishing fair deals for fellow human beings in need. Globalisation of the usurious finance
system is responsible for the ecologically hostile and socially inequitable distribution,
consumption and production patterns. Thus abolition of the ususry from the loans is part of
the negations that are ecological imperative. In Dubai, Islamic Mint www.islamicmint.com
produces e-dinars and it is selling its e-gold products following the Islamic standards. The e-
dinars are produced for fulfilling the religious obligation of paying zakat better.
6. In London, a campaign called Campaign for Interest free money has been launched
www.interestfreemoney.org for making money and banking interest free. This indicates the
fact that more and more people are joining the crusade against exploitative usurious finance
system. There are more and more reasons to attend to the call of the movements and call for
the need to transform the institutions and transform the individual mindsets that are
supportive of the usurious finance system.
7. Bernard Laietier conceived EURO and defined the exchange mechanisms. He has called
for the rethinking money in an article that was published in the Ecologist. He has proposed
"terra" to be the global stable currency.
8. David Korten , the author of "When Corporations Rule the World" changed his thesis
for pointing out that it is the finance system that is responsible for the over accumulation of
wealth, unstable security environment and accelerating ecological degradation. In his
powerful article once posted at http://intraforum.com/money, he has called for interest free
money. David Korten has led the anti-globalization movements.
9. http://www.seek2know.net/money.html contains an article produced by Susmita
Barua ‘ Transforming Money: From Debt to Empowerment: Restoring Civilization, Life of
People and Planet . She has built on the writings of Buckminster Fuller and argues for
interest free banking and money. She writes from a Buddhist perspective.
10. Brettonwoods project http://www.brettonwoodsproject.org/ is keeping a watch on
World Bank, IMF and WTO and their projects and programmes. There are several
movements that are weary of the machinations of the Bank and Fund though they are not
exactly proposing what the Fund and Bank should. This paper contains the ideas for seeking a
change in the operational principles of banking and finance.
Transforming Money/Finance in India

7. 1. Bharat Jan Andolan has launched national Movement for the eradication of usury
under the overall guidance of BD Sharma. BD Sharma has extensively worked on the
state of farmers and agricultural credit details the history of dilution of laws preventing
usury in Bihar and other states. He has spoken in the various forums and has called for
national mobilization for liberating the debtors from compound interest.
2. South Asian People Summit against Poverty called for transformation of the
"unholy" trinity of World Bank, IMF and WTO – Peoples Summit Against Poverty was
organized on 3-4 September 2005 and there was a special session on globalizations. Prof.
Babu Mathew had drafted the concept paper with the input from the people's movements.
Recommendations included scrutiny of the foreign capital, transformation of the policies
of World Bank, WTO and IMF.
3. Arundhati Roy has been writing extensively on the need to transform institutions
through exposing the working of World Bank. Her writings and participation in the
movements of the oppressed and displaced are part of the expressions of the strong
opposition to the globalisation of the ecologically unsustainable development policies
across the world.
4. Labour League Foundation, Centre for Ecological Audit, Social Inclusion and
Governance has been communicating for the reform of financial sector with a call for the
adoption of interfaith common for prohibition of usury.
Advocacy Strategies for National and International Organizations and Action Plan
1. Build solidarities of action and communication for transforming the finance sector –
Considering the criticality of the millennium development goals, it is important to free
the resources for investment is sustainable social development projects that help men and
women in preserving ecologically sustainable livelihoods across the nations and regions.
Governments, networks, civil society organisations, movements, citizen groups and clubs
all need to call for action against usurious transaction. A Global March/Movement for
Transforming Finance Sector is proposed for discussing suitable actions all over the
world.
2. Call for transforming functioning and principles of banking and money- It is
important to call for transforming World Bank, IMF and WTO and make them ecological
friendly and socially responsive. Considering the call for elimination of usury from the
transactions across the religions, it can be seen that responses are for the pleasure of God
as well and thus in the best interests of all.
3. Seek consensus for the unified proposal for World Bank, IMF and other key banker
of bankers-Islamic movements, liberals, democrats, Muslims, Greens, Left, faith leaders
and all need to unite for generating the mass movement for a unified proposal for
transforming institutions. As per the established procedures, first and foremost is to
generate acceptance for the proposals that are ecologically sound and that serve the best
interests of future generations. The consensus can be generated for liberating debts from
simple and compound interest. God fearing men and women leading the governments and
organization will have not difficulty in accepting the proposal. Those who do not believe
in the merit of abolishing usury can be persuaded for abolishing usury considering the
ecological limits to globalization of non-renewable resource based consumption,
production and urban planning patterns.
4. Include the demand for transforming money and banking in all the communications
related to poverty reduction- Millennium Development Campaign has been focusing on

8. the goals 1-7 and call to the funding consortiums have been made for increasing aid for
the nations as part of goal number 8. It is extremely unlikely that goal number 7 for
ensuring environment sustainability will be met unless there is a global adoption of
interest free banks and debts.
5. Combine the learning of secular and faith based perspectives for making money and
banking interest free-The work of Rodney Shakespeare and Robert Ashford on binary
economic analysis has proved the need to get rid of usury
www.globaljusticemovement.net . Global Justice Movement recognizes the
importance of Islam-submitting to the commands of Allah. Binary economic analysis is a
secular analysis and it has been concluded that interest is not necessary. Muslims will be
the happiest if they have to deal with usury free local/regional/national/international
transaction neighborhood. It is only men and women who have not faith in the commands
of Allah who will resist the communication based on the need to seek best here and in
hereafter through eliminating usury from the transactions. Pious Jews, Christians,
Hindus, Sikhs, Zoroastrians, Buddhists and Jain are equally cognizant of the commands
against charging interest for loans in the related Sanskrit texts. Following the dictum of
not loving things that one does not like for oneself, ones own relatives and dears one, it is
likely that all of us following various religions will stand up against the usury and call for
abolition from our own transactions and from the transaction of institutions.
Strengthening Movements Safeguarding Futures Highlighting Linkage of Environment
Sustainability with Elimination of Usurious and Speculative Finance
1. Environmental sustainability is linked with the development model –globalization
of fossil fuel based consumption and production pattern is proving deadly for ecological
safety. There are many evidences for the same. Increased intensity of the cyclones is
linked with global warming that is directly related with increased emission of green
house gases. Globalization of ecologically hostile development paradigm supported
through usurious finance system has to be halted, as it is responsible for creating socially
inequity in the consumption and production patterns at the global scale. Delhi is an
example of a city that is experiencing the same. Metro project has consumed lot of space
that had trees while there is no guarantee for the supplies of energy in the future. India
has been forced to vote for an immoral position on Iran for securing nuclear energy with
the assistance of the US and other countries controlling the supplies of Uranium. One the
one hand, tribal and forest dwellers are being relocated for industrial development and
defense related projects, on the other hand they are being relocated for the protecting the
wild species. Such policy moves are depriving millions from access to ecologically
sustainable livelihoods that had been available for millions of years. Apparently
globalization of non-renewable resource based consumption and production is being
sought without recognizing the fact that the fossil fuels and such other treasures gifted by
God is exhaustible. Dean Steele supporting the globalization of hydrogen fuelled vehicles
calls for preservation of the hydrocarbons for essential need and not for leisure and
pleasure.
2. Movements and institutions need to understand the linkage and call for
transforming the finance sector and transforming consumption pattern as a global
imperative- There is need to understand this linkage and disseminate across the
movements and CSOs. Making loans wipes out the fictitious money. Transforming
consumption pattern through adopting alternative measures for leisure helps in the
deceleration of the consumption of the fossil fuel based energy intensive utilities. Civil

9. Society Organisations, government agencies and others must not promote energy
intensive concerts and other energy intensive events as that is an ecologically hostile
activity. Several organisations and movements boycotted a concert in New Delhi on 4
September 2005 at Dilli Haat Pritampura. Such events are hurdles in realizing the MDGs
for environment sustainability and they are part of the copycat atheistic neo-liberal
globalisation of leisure use patterns that include use of energy intensive modes of
people's assemblies for communication and entertainment.
3. Global call to action against poverty should consider this as part of consistent
communication strategy- GCAP and Millennium Development Campaign ought to
consider the need to free resources for social development across the regions through
abolishing interest based loans and minimizing budgetary allocation for defense. The
Global Compact for realizing the millennium development goals needs to consider the
need to transform financing for developing through calling for interest free money and
debt both for ecological justice and social justice. Large sums of money for serving the
debt must stop for ensuring ecologically sustainable development across the world.
Money freed can be used for realizing the MDGs 1-7 while ensuring global partnership
and meeting the MDG 8 for a just and ecologically sustainable world.
4. Creating synergy through making this a cross cutting concern- There is a need to
have a united recognition of the need to transforming operational principles of banking
for meeting and there is need to create global mobilization of people for the same. We
can see that interest free loans are good for all. We will not have to reckon with the
violent armed struggles that are responsible for the loss of lives, We will have
ecologically sane development across the world .We may have an utopia realized here in
now that is responsive to the concerns of collective human security, ecological safety,
social justice, global compact for MDGs. We would be ready to meet the interspecies
justice and secure an ecologically sustainable, social just future for future generations and
ourselves.
Hurdles
UN system has been advised to identify hurdles in realizing the MDG. It can be seen that
usurious finance system is single most important hurdle along with exhibitionist consumption
patterns that is propelled by the globalization of atheistic neo-liberal political and cultural
ideology.
1. Economists and corporations who are interested in preserving the status quo-
Economists associated with the Washington Consensus process are known to be
forwarding the idea that has been captured by some as market fundamentalism. Some
Greens also think that privatization of all the services will permit incorporation of the
ecological costs as corporations can not run without the support of the consumers who
respond to prices for their consumption patterns. Even so, we can consider the amount of
ecological rucksacks and footprints that will have to be mitigated if there is no conscious
global action for transforming the World Bank and other bankers. Application of atheistic
social Darwinism for access to the nonrenewable resource based consumption patterns
and status markers will be extremely dangerous in a world where politics of identity is
being played at the global level through subjugating the class and religion based
discourses for local and global governance.

10. 2. Men and women who wish to continue the enterprise of discontent without finding
solutions through organizing ecologically hostile conferences –This is being said
considering some patterns across the conferences that are organized for meeting the
global challenges and for solving the global problems. The work on AIDS can be seen as
an example where a faith based communications is prohibited recognizing the need to
protect a privileged position for the adulterers. Meetings of the financing for development
have been organized while recognizing the fact that some issues are not practical. It is
likely that the propositions contained in this paper are described utopian. That is why, it
is important to expand the knowledge base and seek radical solutions. Organisations such
as Action Aid promoting radical solutions are expected to take the proposal for
transforming the fundamental principle of banking and money for ensuring global
stability and ecological safety. It is expected that GCAP will seize the historic
opportunity for advocating and changing the financing for development through making
it interest free. We may have a better scenario for poverty in the year 2015, if we could
ensure that financing for MDGs is debt free.
3. Political parties that are not aware of the long-term needs – Green Parties across the
world though with a following of the minority are cognizant of the need to address the
ecological challenges. Left do not appear to be arguing specifically for meeting the
ecological challenges as they still appear not to be distinguishing between the call for
distributive justice for nonrenewable and renewable resource based livelihoods. Even so,
outcome of their resistance for halting the march of atheistic neo-liberal capitalism are
eco friendly. They need recognize the contribution of the faith based political parties such
as Christian democrats, PAS , Hamas and others across who recognize the importance of
seeking eternal well-being for all through promoting the use of faith based measures. Use
of violence by some groups can be seen in the specific social, political and cultural
context. Maoists in Nepal seek establishing of constitutional democracy (The Hindu, Feb
9-10 2006) with or without the monarchy. They have been calling for an end to the
monarchy for promoting competitive democracy and seek the change though violent
actions if required. There is need for all the political parties to understand the collective
challenges .It would be useful for colleagues in GCAP and MDG campaign if the
conferences were organized for educating the political leaders across the world. It is
possible to generate agreement on the commons for transforming the finance sector as the
call is being made utilizing both secular and faith based arguments. Government and
corporate sector could also organize meetings and discussion for establishing the
argument for transforming the finance sector and consumption patterns. Governments are
responding to the same and the pace can be accelerated with the formulation of key
propositions that are addressing for eliminating the crosscutting hurdles.
4. Lack of education on the faith-based alternatives- there is significant absence of
education on faith-based alternatives for addressing the issue of poverty, indebtedness,
and development and there are strong resistances globally for the faith-based alternatives.
Author has grown to believe that adoption of the commands of God noted in the texts of
various religious traditions is needed for facilitating decisions against usurious finance
system. There are call for resisting and opposing the globalisation of the economic
system but then there does not exist articulation and discussion on the faith based
alternatives as that is associated with Samuel Huntington's thesis on clash of civilizations.
There are assessments of the "postmodern" condition without any prescription for an
alternative form of economic, political, cultural and global governance.
Solutions

11. 1. Institutionalization of the discourse on transforming the finance sector –This is
being proposed considering the need to educate for global action, as we may not get the
results quickly. The ICT enabled communication; capacity building and dissemination
packages will be able to quickly transmit the key arguments with local actions across the
world. Inclusion of the interest free banking as a theory and practice is an urgent
academic innovation that needs inclusion in the teaching of economics across the world.
As of now, there are not many arguments for interest free banking derived from the faith
based communications as they have been ignored by the atheistic rationalists. Already
there are associations of ecological economists who have been arguing for rethinking
progress. Richard B Norgaard has called for the same through exposing the myths around
the definition of progress. Pavel Kasyanov , the president of Ecological Economists
Association in Russia had been part of alternative draft of WSSD in 2002 along with the
author of this letter and Michael Ellis.
2. Mass mobilization for abolishing usury from interpersonal and institution
transactions –Mass mobilization is needed for creating a global consensus for calling
World Bank and other banks for eliminating usury and interest from the transactions. God
fearing men and women will be most forthcoming is supporting the move as they would
not be able to say Yes to usury fearing the destiny on the Day on Judgment. There are
clear commands. More awareness and communication on the issue will be required for
social groups where even faith-based communication against usury is low. For atheistic
rationalists, it would not be possible to deny the ecological impact of the globalization of
non-renewable resource based consumption pattern. Greens all over the world cannot
deny. Atheistic communists cannot fail in recognizing usury to be the important of part of
capitalism. Buddhists and Jains would not be able to deny considering the injunctions and
exhortations for choosing the right livelihood. Hindus would not refuse the precepts of
dhammapada. (Please refere the article on The History of Interest at www.monetary.org
that has cited commands in the sacred texts across the religions). It can be seen that with
such an understanding, it would not be possible to refuse the arguments. I think, this
ought to be key proposition for the action plan of government. We could demand all the
financing for development to be interest free. Make developing financing interest free for
MDGs and poverty reduction globally and locally.
3. Review of the monotheistic perspective for united endeavor at all levels-This is
being suggested considering the appropriateness of the monotheistic framework for
generating united power for transforming financing for development and then for
transforming consumption patterns. Induction of the standards of piety all in the civil
society movements with adoption of prayer and meditation 5 times is a powerful tool for
transforming behavior, decision and consumption patterns across the world. Promotion of
interest free loans saves lots of poor in India who are approaching the moneylenders for
meeting medical assistance, buying inputs for agriculture and other. Freedom from debt
service obligations provides a lot of resources that can be used for providing vital medical
assistance to the poor who are being left at the mercy of the market forces. A church
movement called Sojourners in US www.sojourners.com is calling for application of
the communications of Jesus Christ (Peace be upon him) for transforming foreign policy
and social security establishment in US.
4. Discussions with the World Bank, IMF and other institutions- there is need to
initiate discussions with the World Bank while seeking global application of UNDP
promoted Sustainability Index for investments in general and FDIs in particular. There is

12. a need to point out the need for the adoption of internal coherence in pursuing the
development policies. Use of environment impact assessments needs to be informed more
stringently considering the frequency of natural disasters that are more man made.
Ecological Audits [1] are be made compulsory each year for the institutions and
governments.
5. International meets on the solutions- It is possible for the government to decide for
regional conferences for discussing the solutions. UN may be requested to consider an
international meet for transforming the finance sector and consumption pattern for social
justice and collective ecological safety. Governments may be requested to consider the
need to present memorandums to the World Banks for transforming the finance sector.
6. Inclusion in the MDGs- This note has been developed considering the inclusion of
debt relief in the millennium development goals while recognizing that the relief is a
temporary measure. There is need to call for debt free financing and interest free debts for
the realization of millennium development as inequities can not be addressed without
addressing the underlying reason for equity. There is a need to eradicate the reason for
indebtedness within and between the nations and eliminate the morally abominable,
socially inequitable and ecologically hostile practice charging interest on the loans.
Recognizing the criticality of MDGs, there is need to suggest transforming finance sector
and financing for MDGs at least by 7-7-2007 when globally we will be mobilizing for
assessing the achievement of MDGs.
I would like to seek an appointment with your good self in the presence of key officials of the
departments of public finance for submitting proposals in this regard through a memorandum of
by a group of civil society organisation deeply concerned on the issue.
Looking forward to the contribution of UPA government in building ecologically safe and social
inclusive India
Sincerely
Dr.Muhammad Mukhtar Alam,
Executive Director, Centre for Ecological Audit, Social Inclusion and Governance (CEASIG) ,
Chairman, Labour League Foundation, Trustee , Sufi Trust, Member, Amnesty International.
Founding Publicity Secretary and Acting President, International Youth for Humanity
RSVP. Dr.Muhammad Mukhtar Alam 9968345380/9210490942
[1] The proposal for conducting Ecological Audit had been proposed by the author in the meeting
of Wada Na Todo Abhiyan in January 2006 and the author of this note is in the process of
developing the operational procedures for conducting the same.