The relationship between religion—including Islam—and financial conduct is complex and shaped by historical, economic, and social contexts. It is often assumed that religion should function today in the same way it did in its early stages, but this expectation overlooks the profound transformations that societies and economies have undergone.
First, the nature of the economy itself has changed. In pre-modern societies, economic life was relatively simple, localized, and morally embedded within social and religious structures. In contrast, modern economies are highly complex, globalized, and institutionalized. Today, money functions almost like a new religion of humankind: it provides security, status, and psychological satisfaction. For many people, a healthy bank balance offers more reassurance and fulfillment than participation in religious rituals or attendance at places of worship. In such a context, religious moral injunctions struggle to compete with the power and immediacy of financial incentives.
Second, modern religion itself has become dependent on money. Without financial resources, religious institutions cannot function. Clergy, religious leaders, and institutions require continuous funding to sustain their activities and social standing. In Pakistan, as in many other parts of the world, religious leaders depend on regular donations to maintain respectable living standards—often including prime residential locations, expensive vehicles, and international travel. This financial dependency inevitably compromises the moral authority of religion to critique wealth accumulation and corruption, especially when religious institutions are themselves embedded within the same economic structures.
Third, morality is not the core operational mechanism of religion in contemporary society. While religions promote moral values, they often rely on fear—of divine punishment or the afterlife—to enforce ethical behavior. In modern times, however, this mechanism has significantly weakened. Many people no longer regulate their actions based on moral or religious fear. Instead, only enforceable civil laws, institutional accountability, and tangible punishment appear effective in curbing corruption.
In conclusion, the inadequacy of religious teachings—including Islamic teachings—in preventing financial corruption is not necessarily a failure of doctrine, but a consequence of structural changes in economy, power, and social behavior. In the modern world, ethical governance depends less on moral preaching and more on strong institutions, transparent systems, and the consistent application of law.
