Riba (Interest)

[Riba]

Why is it not permissable in Islam?? I mean in this day in age, its really hard 2 prevent it!!!
Also linked to Student Loans, are muslims allowed 2 take dis loan out?? if dey hve no ther means of payment?

jhazakallah khair!

[the_middle_road]

Why is it not permissable in Islam??


Because it is a kind of oppression. The rich, through advancing money on interest, get richer. And the poor taking out these loans only get poorer through having to pay back many times more the original amount of the loan. The system is imbalanced in favour of the rich and biased against the poor. Of course, the real reason that it is impermissible is because Allah :Swt: has forbidden it, and this is perhaps just the wisdom behind that prohibition:

الَّذِينَ يَأْكُلُونَ الرِّبَا لا يَقُومُونَ إِلا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا فَمَنْ جَاءَهُ مَوْعِظَةٌ مِنْ رَبِّهِ فَانْتَهَى فَلَهُ مَا سَلَفَ وَأَمْرُهُ إِلَى اللَّهِ وَمَنْ عَادَ فَأُولَئِكَ أَصْحَابُ النَّارِ هُمْ فِيهَا خَالِدُونَ

Those who devour usury will not stand except as stand one whom the Evil one by his touch Hath driven to madness. That is because they say: "Trade is like usury," but Allah hath permitted trade and forbidden usury. Those who after receiving direction from their Lord, desist, shall be pardoned for the past; their case is for Allah (to judge); but those who repeat (The offence) are companions of the Fire: They will abide therein (for ever).

(al-Baqarah: 275)


I mean in this day in age, its really hard 2 prevent it!!!


Yes, it is hard to stay away from riba. The Prophet :saw: said that the time would come when the dust of riba would touch everybody. But alhamdulillah, things are changing. There are Islamic banks which don't work with riba and even conventional banks offer Shari'ah-compliant services. So the options are there, it is not as if we are left completely without choice, and we should make use of it.


Also linked to Student Loans, are muslims allowed 2 take dis loan out?? if dey hve no ther means of payment?

jhazakallah khair!

If it is an interest-bearing loan then it would not be allowed I think. If you take out a loan and you are then required to pay back more than the original amount which you borrowed, then that would be riba deal. This is the basic rule and I don't see why it being a student loan should make the matter any different. But maybe it does, and you should check with someone more knowledgeable.

And Allah (swt) knows best.