Consuming riba (usury or interest)
In the Qur’aan, Allah does not declare war on anyone except the
people who deal in riba. Such is the magnitude of the sin. Allah says: “O you who believe! Be afraid of
Allaah and give up what remains (due to you) of riba (from now onward),
if you are (really) believers. And if you do not do it, then take a
message of war from Allaah and His Messenger.” [al-Baqarah 2:278-279]
Everyone who has something to do with riba, whether he is one of the
main parties involved or is a middleman or facilitator, has been cursed
by Prophet Muhammad (peace and blessings of Allaah be upon him).
Jaabir (may Allaah be pleased with him) reported that the Messenger
of Allaah (peace and blessings of Allaah be upon him) cursed “the one
who consumes riba, the one who gives it to others, the one who writes it
down and the one who witnesses it.” He said: “They are all the same.”
(Reported by Muslim, 3/1219).
Based on this, it is not permitted
to do work that involves writing interest-based contracts and
conditions, paying or receiving riba, depositing it or guarding it.
Generally speaking, it is haraam to be directly or indirectly involved
with riba in any way, shape or form.
The least harm riba does is to destroy the blessing (barakah) of the money,
even if a person’s wealth is great. The Prophet (peace and blessings of Allaah
be upon him) said: “Even if riba is much, it will end up being a small amount.”
(Reported by al-Haakim, 2/37; see also Saheeh al-Jaami’, 3542).
This
does not refer to whether the ratio of interest is high or low; all riba is
haraam,
The Prophet (peace and blessings of Allaah be upon him) was keen
to explain the ugliness of this major sin. ‘Abdullaah ibn Mas’ood (may Allaah be
pleased with him) reported that the Prophet (peace and blessings of Allaah be
upon him) said: “There are seventy-three types of riba, the least of which is as
abhorrent as a man having intercourse with his own mother and worst of which is
[violating] a Muslim's honor and sanctity. (Reported by al-Haakim in
al-Mustadrak, 2/37); see also Saheeh al-Jaami’, 3533).
‘Abdullah ibn Hanzalah (may Allaah be pleased with him and his father)
reported that the Prophet (peace and blessings of Allaah be upon him) said:
“Knowingly consuming a dirham of riba is worse for a man than committing
adultery thirty-six times.” (Reported by Imaam Ahmad, 5/225; see also Saheeh
al-Jaami’, 3375).
Allah says :
"Those who spend their wealth (in Allah's Cause) by night and day, in
secret and in public, they shall have their reward with their Lord. On them
shall be no fear, nor shall they grieve.
Those who eat Riba (usury) will not
stand (on the Day of Resurrection) except like the standing of a person beaten
by Shaitan (Satan) leading him to insanity. That is because they say: "Trading
is only like Riba (usury)," whereas Allah has permitted trading and forbidden
Riba (usury). So whosoever receives an admonition from his Lord and stops eating
Riba (usury) shall not be punished for the past; his case is for Allah (to
judge); but whoever returns [to Riba (usury)], such are the dwellers of the Fire
- they will abide therein.
Allah will destroy Riba (usury) and will give
increase for Sadaqat (deeds of charity, alms, etc.) And Allah likes not the
disbelievers, sinners.
Truly those who believe, and do deeds of
righteousness, and perform As-Salat (Iqamat-as-Salat), and give Zakat, they will
have their reward with their Lord. On them shall be no fear, nor shall they
grieve."
"O you who believe! Be afraid of Allah and give up what remains (due to
you) from Riba (usury) (from now onward), if you are (really) believers.
And
if you do not do it, then take a notice of war from Allah 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)."
"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.
And be afraid of the Day when you shall
be brought back to Allah. Then every person shall be paid what he earned, and
they shall not be dealt with unjustly."
"O you who believe! When you contract a debt for a fixed period, write it down. Let a scribe write it down in justice between you. Let not the scribe refuse to write as Allah has taught him, so let him write. Let him (the debtor) who incurs the liability dictate, and he must fear Allah, his Lord, and diminish not anything of what he owes. But if the debtor is of poor understanding, or weak, or is unable himself to dictate, then let his guardian dictate in justice. And get two witnesses out of your own men. And if there are not two men (available), then a man and two women, such as you agree for witnesses, so that if one of them (two women) errs, the other can remind her. And the witnesses should not refuse when they are called on (for evidence). You should not become weary to write it (your contract), whether it be small or big, for its fixed term, that is more just with Allah; more solid as evidence, and more convenient to prevent doubts among yourselves, save when it is a present trade which you carry out on the spot among yourselves, then there is no sin on you if you do not write it down. But take witnesses whenever you make a commercial contract. Let neither scribe nor witness suffer any harm, but if you do (such harm), it would be wickedness in you. So be afraid of Allah; and Allah teaches you. And Allah is the All-Knower of each and everything."
"And if you are on a journey and cannot find a scribe, then let there be a pledge taken (mortgaging); then if one of you entrust the other, let the one who is entrusted discharge his trust (faithfully), and let him be afraid of Allah, his Lord. And conceal not the evidence for he, who hides it, surely his heart is sinful. And Allah is All-Knower of what you do."
"To Allah belongs all that is in the heavens and all that is on the
earth, and whether you disclose what is in your ownselves or conceal it, Allah
will call you to account for it. Then He forgives whom He wills and punishes
whom He wills. And Allah is Able to do all things."
(Quran 2:274-284)
P
There is a lot to say about this topic and Insha Allah I will do a furthur more indepth article.
AbuUbaida
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