Interest in Islam
March 11, 2011 Leave a comment
On the authority of Hasan ibn Ali ibn Abi-Talib (peace be upon him), the Prophet Muhammad (pbuh) said, ” Leave what you have doubt about for what you have no doubt about”. (Arbaeen-Navavi)
“She is the principal of a college. She is very educated and a nice lady. She is very kind and always eager to pull people out of trouble. Though she is drawing a good salary and can afford to live independently but prefers to live with her strict husband. She gives loan and asks for only 5% profit in return, meaning five thousand on one lac. That is cheaper than bank.”
This introduction of a college principal in a gathering was very surprising for me. I interrupted that this isn’t profit, this is interest (ribah) which is strictly forbidden in Islam. Riba is a war declared with Allah and His Prophet (pbuh).
Her reply was, “Yeah, you may think like that but how I take it is as business. Look, she is giving a favor to someone spending her money. She should get something back in return. She can keep it in bank and get the profit. That will be interest too. The other person may use it to do some business or to pay off debt.” The lady herself is running a beauty parlor and very smartly deals her financial and social matters. She wasn’t interested in religious issues at all. However, she knew it very well that what I was talking about.
Women interested in taking interest on money but not interested in discussing money in Islam. I wonder how they satisfy their hearts on Islam?
I came home and recalled all my memory regarding ‘interest/riba’. From my childhood I heard people of Karachi (who unfortunately are considered educated for some stupid reasons) blaming Pathans, Punjabi, Gujrati and Memon communities for exploiting people by taking excess money on loans. The same was the economic tradition of Arabs before Islam. Jews are the most famous for establishing their economy on Riba/interest.
For the sake of argument, let’s say they all were ignorant. Then what is this? Our educated lot can’t differentiate between Trade and Riba. They know what is written in the course books of Islamiyat. They read Qur’an in Qur’an-khuwanis. They proudly celebrate milad for blessings.
Thank goodness my child didn’t get to study in schools and colleges run and managed by educated-illiterates.
What are our Islamic extremists fighting against? The religious groups in Pakistan want to impose Shari’ah…on people, who know the limitations set by Qur’an, still willingly and logically reject the faith…in houses and on streets???
We curse the banking system introduced to us by Jews. We curse mullahs and scholars for corrupting Islamic teachings with their own perceptions. Why don’t we curse ourselves for failing in establishing the fair and just economic system ordained to us by our Lord…… in our houses. We cheat in property dealings, we play mockery in inheritance, we are dishonest in money matters…. and now our smart, honourable women stepping over Qur’an by replacing Riba with trade or as trade???????????????????????????
O God, please be witnessed, I don’t want to be the part of this corruption so help me out with clear guidance and understanding of Your Book. Ameen!
“That which you give as riba to increase the peoples’ wealth increases not with God; but that which you give in charity, seeking the goodwill of God, multiplies manifold.” (Surah Al-Rum/The Rome, 39)
“And for their taking riba even though it wa forbidden for them, and their wrongful appropriation of other peoples’ property, We have prepared for those among them who reject faith a grievous punishment.” (Surah An-Nisa/The Women, 61)
“O believers, take not doubled and redoubled riba, and fear God so that you may prosper. Fear the fire which has been prepared for those who reject faith, and obey God and the Prophet so that you may receive mercy.” (Surah Al-e-Imran/The Family of Imran, 130-132)
“Those who benefit from ribah shall be raised like those who have been driven to madness by the touch of the Devil; this is because they say: “Trade is like riba” while God has permitted trade and forbidden riba. Hence those who have received the admonition from their Lord and desist, may have what has already passed, their case being entrusted to God; but those who revert shall be the inhabitants of the fire and abide therein forever….. God deprives riba of all blessing but blesses charity; He loves not the ungrateful sinner.” (Surah Al-Baqarah/The Cow, 275/276)
“O believers, fear God and give up the ribah that remains outstanding if you are believers….. If you do not do so, then be sure of being at war with God and His Messenger. But, if you repent, you can have your principal. Neither should you commit injustice nor should you be subjected to it….. If the debtor is in difficulty, let him have respite until it is easier, but if you forgo out of charity, it is better for you if you realize….. and fear the Day when you shall be returned to the Lord and every soul shall be paid in full what it has earned and no one shall be wronged. (Surah Al-Baqarah/The Cow, 278-281)