INTEREST (USURY) ACCORDING TO QUR’AN AND SUNNAH

As a reminder to us all, Allah(SWT) has told us in the Qur’an [2:279] if we don’t give up interest ,we must take notice of a war from Allah! Are you ready to go into battle against Allah(SWT)? Will you and your army of feeble credit cards be sufficient to do battle with Allah(SWT)? How can you justify doing something that’s Haram? …

What is Usury?

Usury (from the Latin "usus" meaning "used" ) was defined originally as charging a fee for the use of money. This usually meant interest on loans, although charging a fee for changing money (as at a Bureau de Change) is included in the original meaning. After moderate-interest loans became an accepted part of the business world in the early modern age, the word has come to refer to the charging of unreasonable or relatively high rates of interest.

Defining the ProblemWhy Interest bearing transactions (Usury) forbidden in Islam?
The taking of interest implies taking over somebody else's property without giving anything in exchange, because one who lends one dollar and gets two back gets an extra dollar for nothing. Dependence on interest prevents people from working to earn money, since the person with the dollar can earn an extra dollar through interest, either in advance or at a later date, without working for it. The value of actual labor will be reduced in sight of this person and will not bother to take the trouble of running a business or risking his money in trade or industry. This will deprive people of benefits from money being invested and the reduction of employment, healthy trade and commerce which all needs capital at risk.

Interest discourages people from doing good towards one another.
Interest requires the needy person to pay back more than he has
borrowed thereby increasing the wealth of rich lender and
decreasing the wealth of the poor borrower. In desperate situations
the lender can exploit the weakness of the poor, giving rise to
feelings of envy and hatred among the poor towards the rich, and
contempt and callousness among the rich toward the poor.
The taking of interest implies taking over somebody else's property
without giving anything in exchange, because one who lends
one dollar and gets two back gets an extra dollar for nothing.
Dependence on interest prevents people from working to earn
money, since the person with the dollar can earn an extra dollar
through interest, either in advance or at a later date, without working
for it. The value of actual labor will be reduced in sight of this person and
will not bother to take the trouble of running a business or risking his
money in trade or industry. This will deprive people of benefits
from money being invested and the reduction of employment,
healthy trade and commerce which all needs capital at risk.
Interest discourages people from doing good towards one another.
Interest requires the needy person to pay back more than he has
borrowed thereby increasing the wealth of rich lender and
decreasing the wealth of the poor borrower. In desperate situations
the lender can exploit the weakness of the poor, giving rise to
feelings of envy and hatred among the poor towards the rich, and
contempt and callousness among the rich toward the poor.
Interest or usury destroys the very fabric of human love, brotherhood,
fellow-feeling and undermines the welfare and happiness of human
society. Interest breeds meanness, selfishness, apathy and suffering of
the weak. As a result the rich becomes richer and the poor
becomes poorer, creating socio- economic classes in the society
separated by wide gulfs.
The Qur'anic verses leave no doubt
as to the command forbidding
interest related transactions.
Hadith: "Wish for your brother what
you wish for yourself"
Riba (Usury) is of two major
kinds:
1. Riba An-Nasia – Interest on lent
money
2. Riba Al-Fadl – Taking a superior
thing of the same kind of goods by
giving more of the same kind of
goods of inferior quality, eg.,dates
of superior quality for dates of
inferior quality in great amounts.
The definition of Interest, the literal
meaning of interest or Al-Riba as it
is used in the arabic language
means to excess or increase. In the
Islamic terminology interest means
effortless profit or that profit which
comes free from compensation or
that extra earning obtained that is
free of exchange. Riba has been
described as a loan with the
condition that the borrower will
return to the lender more than and
better than the quantity borrowed.
As muslims, our main concern when
it comes to financial transactions is
to avoid Riba in any of its forms,
despite the fact that the basic
foundation of the world economics
and finance today is that of riba
and dealing in usury.
The Prophet ((SAW)peace and
blessings be upon him)has foretold
us of a time when the spread of
riba would be so overwhelming
that it would be extremely difficult
for the muslim to avoid it. This
situation calls for muslims to be
extra cautious before deciding on
what money payment of financial
methods to use in any personal or
business transaction.
To make sure that we are safe
from Riba, we have to learn which
transactions lead to it.
Interest in Pre-Islamic Times
HafizIbn hajr writes in his
commentary of Sahih Bukhari
(Fathul Bari), Vol. IV p.264:
Imam Malik reports on the
authority of Zaid Ibn Aslam that in
the period of ignorance (pre-Islamic
times) interest was changed
according to the following scheme.
One person had a right to the
property of another person. It may
have been a general right because
of the amount lent or the price of
something purchased or in any
other form. A time was set when
the claim would be settled.When
the appointed time arrived the
creditor would ask the debtor if he
wanted to settle the claim or pay
interest with an extension of time.
If the claim was settled then there
was no increase in the payment.
Otherwise the debtor would
increase the amount payable and
the creditor would extend the
period further
Textual Evidence
Hadith – Sahih Bukhari, Volume 3,
No. 299; Narrated ‘Aun bin Abu
Juhaifah, r.a.
My father bought a slave who
practised the profession of cupping,
(My father broke the servants
instruments of cupping). I asked
my father why he had done so. He
replied, "The Prophet forbade the
acceptance of the price of a dog or
blood, and also forbade the
profession of tatooing, or getting
tatooed and receiving or giving
Riba (Usury), and cursed the picture
makers."
Hadith – Sahih Bukhari, 2.468,
Narrated Samura bin Jundab, r.a.
He speaks of in a dream related to
the Prophet (SAW) that there is a
river of blood and a man was in it,
and another man was standing at
its bank with stones in front of
him,facing the man standing in the
river. Whenever the man in the
river wanted to come out , the
other one threw a stone in his
mouth and caused him to retreat
back into his original position.The
Prophet ((SAW)peace and blessings
be upon him)was told that these
people in this river of blood were
people who dealt in Riba (usury).
The Noble Qur'an – Al-Baqarah
275-281
275. Those who eat Ribâ (usury)
will not stand (on the Day of
Resurrection) except like the
standing of a person beaten by
Shaitân (Satan) leading him to
insanity. That is because they say:
"Trading is only like Ribâ (usury),"
whereas Allâh has permitted
trading and forbidden Ribâ (usury).
So whosoever receives an
admonition from his Lord and stops
eating Ribâ (usury) shall not be
punished for the past; his case is for
Allâh (to judge); but whoever
returns [to Ribâ (usury)], such are
the dwellers of the Fire – they will
abide therein.
276. Allâh will destroy Ribâ (usury)
and will give increase for Sadaqât
(deeds of charity, alms, etc.) And
Allâh likes not the disbelievers,
sinners.
277. Truly those who believe, and
do deeds of righteousness, and
perform As-Salât (Iqâmat-as-Salât),
and give Zakât, they will have their
reward with their Lord. On them
shall be no fear, nor shall they
grieve.
278. O you who believe! Be afraid
of Allâh and give up what remains
(due to you) from Ribâ (usury)
(from now onward), if you are
(really) believers.
279. And if you do not do it, then
take a notice of war from Allâh and
His Messenger but if you repent,
you shall have your capital sums.
Deal not unjustly (by asking more
than your capital sums), and you
shall not be dealt with unjustly (by
receiving less than your capital
sums).
280. And if the debtor is in a hard
time (has no money), then grant
him time till it is easy for him to
repay, but if you remit it by way of
charity, that is better for you if you
did but know.
281. And be afraid of the Day when
you shall be brought back to Allâh.
Then every person shall be paid
what he earned, and they shall not
be dealt with unjustly.
The Noble Qur'an – Al-Imran 3:130
O you who believe! Eat not Ribâ
(usury) doubled and multiplied, but
fear Allâh that you may be
successful.
Hadith – Mishkat-ul-Masabih
The following three ahadith have
been taken from Mishkat-ul-
Masabih under the section of
interest and the English translation
has been taken from its English
version written by Al Hajj Moulana
Fazl Karim (218-227 vol.11)
Hazrat Jabir r.a. has reported that
the Messenger of Allah ((SAW)peace and blessings be upon him)cursed the devourer of usury, its payer, its scribe and its two witnesses. He also said that they were equal (in sin).

Hazrat Abu Hurairah r.a. reported that the Prophet ((SAW)peace and blessings be upon him)said : A time will certainly come over the people when none will remain who will not devour usury. If he does not devour it, its vapour will overtake him. [Ahmed,Abu Dawood,Nisai,Ibn Majah]

Hazrat Abu Hurairah radiyallahu anhu reported that the Messenger of Allah ((SAW)peace and blessings be upon him)said: I came across some people in the night in which I was taken to the heavens.Their stomachs were like houses wherein there were serpents,which could be seen from the front of the stomachs. I asked :O Gabriel! Who are these people? He replied these are those who devoured usury.
[Ahmed,Ibn Majah]

Hadith – ??
Hazrat Al-Khudri radiyallahu anhu reported that the Prophet ((SAW)peace and blessings be upon him)said: Gold in exchange for gold, silver in exchange for silver, wheat in exchange for wheat, barley in exchange for barley,dates in exchange for dates, salt in exchange for salt is in the same category and (should be exchanged) hand to hand, so whoever adds or demands increase he has practised usury. The giver and taker are the same.

Conclusion
After reading the above, it is apparent to us that interest is haram (prohibited). How could anybody even take the time out to think about a matter in which Allah has declared war on the user and his Beloved Prophet (peace and blessings be upon him)has cursed him? As sensible people we can understand that what our Creator has chosen for us is for our own prosperity and benefit.
Islam has encouraged men to earn their own provision and provide for their families. The condition is that the earning has to be according to the Shari’ah. These rules can be found under the heading of trade in the books of jurisprudence. Interest is amongst those conditions which all dealings must be free from.

Imam Abu Hanifah has ruled that if the measurement system (volumetric or in compounds) is the same and the two items are in the same category, then they should be sold in the same amount and direct not in credit otherwise interest will be found.
Imam Shaf’ee says that if the items are valuable and could be considered food then there is the chance of interest.
Imam Malik says that if the items are valuable and are edible then interest is a subject.
Action Items:
Giving and taking interest is Islamically unlawful.

A person who takes interest does not gain anything in reality but through the explanation of the Qur’an verse. In reality the money through riba just goes to waste and the person does not even realize it, and a person who gives money in the path of Allah, in whatever form it may be, actually gains although in reality it may seem as though he is losing out. Every person should take all necessary precautions in their financial and social dealings. If a person neglects in keeping a watchful eye on financial dealings, this negligence will slowly spread to other aspects of religion, having a very detrimental effect.
Interest is hazardous and should be abstained from in all manners. If anybody has a case they wish to solve then they should contact a knowledgeable person in this deen of Islam and present their problem as well as in all cases every individual should continue to seek Allah’s forgiveness and guidance.
In order to own a credit card and avoid paying riba, you must make payment on purchases before the statement comes in, i.e. send the credit card company the check for payment as soon as you make the purchase. If you are too tempted and unable to purchase things without immediately paying for them (and thereby will be charged interest), don't use them or don't even have them. Fear your Lord!

As a reminder to us all, Allah(SWT) has told us in the Qur’an [2:279] if we don’t give up interest ,we must take notice of a war from Allah! Are you ready to go into battle against Allah(SWT)?
Will you and your army of feeble credit cards be sufficient to do battle with Allah(SWT)?
How can you justify doing something that’s Haram?

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14 Comments on "INTEREST (USURY) ACCORDING TO QUR’AN AND SUNNAH"

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qlue
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Cash all the way! :up:.

Zanopera
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Man, i luv dis ur wrdz. Qur'an din karshe ne

Shettima63
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Alhamdulillahi, Qur'an will always b there for us.

DANBUZU
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:happy:

Shettima63
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💡

Andrinz
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:hi:salamualaykum.Good post !indeed, as the adDien. Islamic rulesshould be appliedsystemically in Islamicsociety. Of course weexpect the Islamicsystem will rise upsomeday.

DANBUZU
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Insha Allah :happy:

DANBUZU
Guest

Insha Allah :happy:

Andrinz
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amiin 🙂

DANBUZU
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:happy:

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