Interest called ribbah, is prohibited and a haram money. ALLAH swt has prohibited it and any business that involves giving or taking of interest is also haram. It’s a gunnah-e kabira.
ALLAH swt has mentioned about interest and its takers at many places in Quran and has warned them for their act.
Holy Quran: 2:276
“Allah makes (the benefits of) Interest decline (and dwindle), while He causes the charity to grow (and flourish). Allah dislikes all the unbelievers _ the (ungrateful) sinners!”
ALLAG swt had ordered us to stop the transactions in interest and give charity. When dealt in interest, people strive to earn the most from investing the minimum amount. This causes the imbalance of money supply in the markets. Thus the money circulation stops to only one corner of the society with those who can pay interest and those who know all the tactics to take interest at every little transaction. We see this happening in the society today. There is no money circulation on the society where interest prevails.
But when charity is given, this money is utilized only by those who are poor earners. There is a large number of people who earn less than one dollar daily, so when the charity is paid, money goes down instead of going up, making a complete opposite money circle than is seen in the interest based society. Money goes down and level of people’s life standard goes up and equality grows in the society. This leads to balanced economic society and also the expropriation of other’s rights becomes rather impossible. this is just one logic to shun the use of interest there are many others.
ALLAh swt says in Quran: 2:278
“Oh you who believe! Fear Allah and write off (all outstanding) Interest (due you) that still accrues, if you (really) are the believers.”
This verse is a clear cut message of ALLAH swt to those who are muslims. They cannot deal in interest if they want to be believers. Those who reject the message of ALLAH swt, for them ALLAh swt said: 2:275
“(On the Day of Judgment), those who take (the income from) Interest and usury would not (be able to) stand straight. (When resurrected), they would stand like a crazed and confounded man _ as if Shaitan had touched and afflicted them. That is because they say, “Usury (and Interest) is just like (the profit from) commerce.” But Allah has permitted (the profit from) commerce, and He has prohibited Interest (and usury). Whoever stops (taking Interest) after he receives admonition from his Lord, will not be punished for his past actions. His matter rests with Allah. But those who persist shall be the inmates of the fire. There, they shall stay forever.”
We should fear ALLAH swt and we should fear that torment and that humiliation which could be faced if we do not take care of the money we earn.
This is a very serious problem in our society today because there is no business deal which does not involve interest to be paid, or to be taken. Similarly, people in their daily lives, get loans for any purpose, these small or large loans also involve small or huge amount of interest. Once taken, the borrower will have to pay the interest amount or it will be multiplied with each default. This is how one class of people makes all the money and expropriates the rights of others.
Paying of interest is also mentioned in Quran 30:039
“You pay Interest to the people in order to increase their wealth, but it does not exceed (in value) according to Allah. Yet, the ‘zakat’ you give seeking the pleasure of Allah increases manifold (in value).”
Here, ALLAH swt says that when usury is paid, it does not do any good to society or it does not do any good to that person even, rather it only increases the money of those who already have more than enough by expropriating the rights of others. But if zakat is paid, it does not only earn the pleasure of ALlAH swt but also beneficial for the society at large. All the debates on economic realities and political system related to economic justice and all can be thrown to dust bin only by following Quran and Sunnah and by adhering to what ALLAH swt has told us to do.
ALLAH swt has mentioned about interest and its takers at many places in Quran and has warned them for their act.
Holy Quran: 2:276
“Allah makes (the benefits of) Interest decline (and dwindle), while He causes the charity to grow (and flourish). Allah dislikes all the unbelievers _ the (ungrateful) sinners!”
ALLAG swt had ordered us to stop the transactions in interest and give charity. When dealt in interest, people strive to earn the most from investing the minimum amount. This causes the imbalance of money supply in the markets. Thus the money circulation stops to only one corner of the society with those who can pay interest and those who know all the tactics to take interest at every little transaction. We see this happening in the society today. There is no money circulation on the society where interest prevails.
But when charity is given, this money is utilized only by those who are poor earners. There is a large number of people who earn less than one dollar daily, so when the charity is paid, money goes down instead of going up, making a complete opposite money circle than is seen in the interest based society. Money goes down and level of people’s life standard goes up and equality grows in the society. This leads to balanced economic society and also the expropriation of other’s rights becomes rather impossible. this is just one logic to shun the use of interest there are many others.
ALLAh swt says in Quran: 2:278
“Oh you who believe! Fear Allah and write off (all outstanding) Interest (due you) that still accrues, if you (really) are the believers.”
This verse is a clear cut message of ALLAH swt to those who are muslims. They cannot deal in interest if they want to be believers. Those who reject the message of ALLAH swt, for them ALLAh swt said: 2:275
“(On the Day of Judgment), those who take (the income from) Interest and usury would not (be able to) stand straight. (When resurrected), they would stand like a crazed and confounded man _ as if Shaitan had touched and afflicted them. That is because they say, “Usury (and Interest) is just like (the profit from) commerce.” But Allah has permitted (the profit from) commerce, and He has prohibited Interest (and usury). Whoever stops (taking Interest) after he receives admonition from his Lord, will not be punished for his past actions. His matter rests with Allah. But those who persist shall be the inmates of the fire. There, they shall stay forever.”
We should fear ALLAH swt and we should fear that torment and that humiliation which could be faced if we do not take care of the money we earn.
This is a very serious problem in our society today because there is no business deal which does not involve interest to be paid, or to be taken. Similarly, people in their daily lives, get loans for any purpose, these small or large loans also involve small or huge amount of interest. Once taken, the borrower will have to pay the interest amount or it will be multiplied with each default. This is how one class of people makes all the money and expropriates the rights of others.
Paying of interest is also mentioned in Quran 30:039
“You pay Interest to the people in order to increase their wealth, but it does not exceed (in value) according to Allah. Yet, the ‘zakat’ you give seeking the pleasure of Allah increases manifold (in value).”
Here, ALLAH swt says that when usury is paid, it does not do any good to society or it does not do any good to that person even, rather it only increases the money of those who already have more than enough by expropriating the rights of others. But if zakat is paid, it does not only earn the pleasure of ALlAH swt but also beneficial for the society at large. All the debates on economic realities and political system related to economic justice and all can be thrown to dust bin only by following Quran and Sunnah and by adhering to what ALLAH swt has told us to do.
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→What Quran Says About Interest Takers
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