Islamic Ethics

IN REGARD TO USURY

Usury is lending money and charging an interest rate, usually high. It is something that used to be and still is in use all over the world. Islam has prohibited such a practice, since many a people can stand to be hurt, especially those who can least afford it. Islam discourages he who wants to capitalize on others and makes his money without working for it.

See what Almighty God says in the Holy Quran:

الذین یاکُلون الرِبوا لایَقوُمونَ الا کَما یَقومُ الذی یَتَخَبَطُهُ

الشیطانُ مِن المس ذالکَ بِاَنَهُم قالوا اِنما البیعُ مِثلُ الربوا

“THOSE WHO DEVOUR USURY WILL NOT STAND EXCEPT AS STANDS SOMEONE WHOM THE EVIL ONE CAUSED HIM A TOUCH OF MADNESS…”

(AL-Quran II-275)

یا ایها الذینَ امَنوا اتقُوا الله وَ ذروا ما بقی مِنَ الربوا اِن

کُنتم مومنین

"O YOU WHO BELIVER! FEAR GOD, AND GIVE UP WHAT REMAINS OF YOUR DEMAND FOR USURY, IF YOU ARE INDEED BELIVERS.”

(AL Quran II-278)

یَمحقُ الله الربوا وَیُربی

الصدقاتِ والله لا یُحِبُ کُلَ کَفارٍ اَثیمٍ

“GOD WILL DEPRIVE USURY OF ALL BLESSING, BUT WILL GIVE INCREASE FOR DEEDS OF CHARITY; FOR HE LOVES NOT THOSE WHO ARE UNGRATEFUL AND WICKED.”

(AL- QURAN- 276)

So the practice of usury is condemned, and God has deprived His blessing on such undertakings.

God’s Messenger, Muhammad (P.B.U.H) says:

لَعَنَ رسولُ اللهِ (ص) اکلُ الربوا وَموکِلَهَ وَکاتِبَهُ وَشاهِدَیهِ

وَ قال هُم سواءٍ

“THE TAKED OF USURY AND THE GIVER OF IT, AND THE WRITER OF ITS PAPERS AND THE WITNESS TO IT, ARE EQUAL IN SIN.

عَن رسول الله (ص) قال لیاتینَّ علی الناس زمانُ لا یبقی اَحَدٌ  الا

اکلُ الربوا فان لم یاکلهُ اصابه مِن بخارِه

“A TIME WILL COME OVER PEOPLE WHEN NONE WILL REMAIN WHO WILL NOT DEVOUR USURY. IF HE DOES NOT DEVOUR IT, ITS VAPOR WILL OVERTAKE HIM.”

Charging a high rate of interest will make it very expensive for the very one who needs the money badly. Such a person is usually needy already. If usury is allowed, it will help keep the needy in poor condition, and it will help those who have the money or the institutions with money, to become richer. Thus through usury, the rich will become richer, and the poor will become poorer. Islam encourages better distribution of wealth, that is why Islam is against usury.

In this country, there are many loan institutions that live on usury and we better be careful.

A Good Muslim Will Remember:

1.      Usury is forbidden (Haram).

2.      Usury makes the poor poorer and the rich richer.

3.      God will deprive the usury from His blessings.

4.      It certainly is better to lend your friend the money without charging him any interest.

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