The Prohibition of Interest ~ Riba`

Interest (Riba’) is a major sin (Haraam). It brings you no Barakah whatsoever. Outwardly it seems that you are getting an increase, but you will undoubtedly experience some loss, misery or calamity in your life. Instead of bringing society closer, it divides it. The rich become richer … the poor become poorer … Islam shows us that Riba’ (Usury) brings harm to society. Allah openly declares ‘war’ against those people who are involved in Interest …

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Hadith pertaining to Interest (Riba’)

Sunan of Abu-Dawood Hadith 3327 ~ Narrated by Abdullah ibn Mas’ud : Rasullulah Salallahu Alayhi Wasallam, cursed the one who accepted usury, the one who paid it, the witness to it, and the one who recorded it.

Sahih Al-Bukhari Hadith 8.840 ~ Narrated by Abu Huraira : Rasullulah Salallahu Alayhi Wasallam said, “Avoid the seven great destructive sins.” They (the people) asked, “O Allah’s Apostle! What are they?” He said, “To join partners in worship with Allah; to practice sorcery; to kill the life which Allah has forbidden except for a just cause (according to Islamic law); to eat up usury (Riba), to eat up the property of an orphan; to give one’s back to the enemy and fleeing from the battlefield at the time of fighting and to slander chaste innocent simple believing women.”

*Interest ~ Riba` is a loan with the condition that the borrower will return to the lender more than that he borrowed.”

Taken from a Majlis of Moulana Naeem Motala …