There are certain things marked as allowed in Islam and known as halal. However, one of the impermissible things is Riba in Islam. The concept of Riba is forbidden in Islam. Riba is usually known as usury or interest and this comes under the things that are Haram in Islam.
The term Riba is originated from growth. It is meant to say an excess or an increment in things especially money. This concept of Riba is condemned by Allah (SWT) as it greatly outbreaks nations with whole greed, lust, selfishness, and injustice.
Through the worldly aspect, you might see the increasing wealth but it would not increase your rank in the eyes of Almighty Allah (SWT).
Types of Riba in Islam
However, there are two types of Riba mentioned:
1. Riba an-Nasee’ah:
This type of Riba is an increment or growth in the original amount of loan, payment, debt because of delay.
2. Riba al-Fadhl:
This is an increment in the amount due to trading of one thing for another or of the similar kind
Almighty Allah has mentioned in the Holy Quran several times that both parties involved in Riba either taking or giving will be held accountable on the day of judgment and will be cursed. Moreover, people who become witnesses to usury will eventually invite the condemnation and anger of Allah (SWT).
Why Riba in Islam is Prohibited?
Islam focuses on building a community laid on faith, goodness, selflessness, empathy, and mutual sacrifice. Islam guides us to follow the practices that bridge the gap between the rich and the poor in our society. Thus, the practice of usury is strongly condemned as it is meant to take advantage of individuals. In order to build a prosperous society, rich people should work to help the unfortunate ones so that they can get Allah’s (SWT) love and blessings. Allah (SWT) loves people with kindness and care for mankind.
Riba in the Qur’an
1. First Revelation (Surah al-Rum, verse 39)
“That which you give as interest to increase the people’s’ wealth increases not with God; but that which you give in charity, seeking the goodwill of God, multiplies manifold.” (30: 39)
2. Second Revelation (Surah al-Nisa’, verse 161)
“And for their taking interest even though it was forbidden for them, and their wrongful appropriation of other people’s property. We have prepared for those among them who reject faith a grievous punishment (4: 161)”
3. Third Revelation (Surah Al ‘Imran, verses 130-2)
“O believers, take not doubled and redoubled interest 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.
4. Fourth Revelation (Surah al-Baqarah, verses 275-81)
“Those who benefit from interest 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 interest” while God has permitted trade and forbidden interest. Hence those who have received the admonition from their Lord and desist may keep their previous gains, their case being entrusted to God; but those who revert shall be the inhabitants of the fire and abide therein forever.” (275)
“God deprives interest of all blessing but blesses charity; He loves not the ungrateful sinner.” (276)
“Those who believe, perform good deeds, establish prayer and pay the zakat, their reward is with their Lord; neither should they have any fear, nor shall they grieve.” (277)
Riba in Islam; War from Allah
“0, believers, fear Allah, and give up what is still due to you from the interest (usury) if you are true believers.” (278)
“If you do not do so, then take notice of war from Allah and His Messenger. But, if you repent, you can have your principal. Neither should you commit injustice nor should you be subjected to it.” (279)
“If the debtor is in difficulty, let him have respite until it is easier, but if you forego out of charity, it is better for you if you realize.” (280)
“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. “ (281)
Few Words:
From all the above points, it is evident that Almighty Allah is guiding us to stay protected from the aspect of Riba in Islam. May we follow the righteous path in life to please Almighty Allah.
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