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Riba (Interest - Usury) & Islam

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  • imran1976
    replied
    It was narrated from Abu Hurairah that the Messenger of Allah (ﷺ) said:
    "There are seventy degrees of usury, the least of which is equivalent to a man having intercourse with his mother."

    حَدَّثَنَا عَبْدُ اللَّهِ بْنُ سَعِيدٍ، حَدَّثَنَا عَبْدُ اللَّهِ بْنُ إِدْرِيسَ، عَنْ أَبِي مَعْشَرٍ، عَنْ سَعِيدٍ الْمَقْبُرِيِّ، عَنْ أَبِي هُرَيْرَةَ، قَالَ قَالَ رَسُولُ اللَّهِ ـ صلى الله عليه وسلم ـ ‏ "‏ الرِّبَا سَبْعُونَ حُوبًا أَيْسَرُهَا أَنْ يَنْكِحَ الرَّجُلُ أُمَّهُ ‏"
    ‏ ‏

    [Sunan ibn Majah:2274]

    Leave a comment:


  • imran1976
    replied
    Originally posted by ອາໄສຢູ່ ຣາຮາມ View Post
    Is there a relation between interest (rate) and inflation (rate)?
    interest rate and inflation are inversely correlated -- increase in interest rate decreases inflation and vice versa.

    Leave a comment:


  • imran1976
    replied
    Originally posted by ອາໄສຢູ່ ຣາຮາມ View Post
    Does the currency printed
    by Central Banks have interest on them?
    Abu Huraira reported: The Messenger of Allah, peace and blessings be upon him, said, “A time will come upon people in which they will consume usury.” It was said, “All of the people?” The Prophet said, “Whoever does not consume it will be affected by its dust.”
    ...............................

    the time has come, we live in these times --- the contemporary economic system is designed in a way that you can't escape riba'. --- this system has different tools to keep it running and paper currency is one of them.

    [An-Nisa:161]
    and for their devouring of the properties of the people by false means .....


    gold rate $35 oz, 1970
    gold rate $1850 oz, 2021

    more than 97% devaluation in 40 years --- your $10000 in 1970 is worth $300 in 2021, where is your $9700? ---- your loss is someone else gain -
    the capitalistic system devoured your $9700 by false means.

    there's no problems with adopting paper currency as a medium of exchange, provided, it's true worth is assigned and not some fake number+ people adopt it out of free will, but the fiat system was imposed (brettonwood) with fake worth.

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  • ອາໄສຢູ່ ຣາຮາມ
    replied

    Leave a comment:


  • Creamcake
    replied
    I just wanted to add that i dont know why there is a perception that the first mortgage is okay, because 2 of my friends also thought this until I advised that its not. Its such a big sin its scary and one that a lot of ppl are unaware of too. I dont know why ppl see renting as a waste of money. Houses are very expensive and unless u can afford it, how can u buy it? This is why 'kameethis' exist too i guess(heard about them from others).

    If you live with fam whilst saving up thats okay. I think its important for a couple to have their own space espec when children are involved and upbringing. I also think it depends what the family is like, and some are okay to live with, without causing marital issues for the 2 ppl. And its also okay to rent forever. Everything we think we own anyway belongs to Allaah, we arent going to die with it so although its natural to feel attached, it can still be a home even if you are renting. Espec if you trust the landlord and know they arent going to just kick you out when they feel like it.

    Leave a comment:


  • Predatorian
    replied
    Originally posted by Simply_Logical View Post
    assalamu alaykum wah rahmahtullahi wah barakatuhu

    hey people so i want to talk about riba, for a start why do many muslims not think anything of taking out riba like student loans, mortgages, car fiances etc?

    does anyone know why its such a sin that equates to waging war with Allah swt and his rasool sallahu alayhi wa salaam?

    also ive heard previously of some saying its justified to get a mortgage for a first house to wanting to get on the property ladder so the speak,
    do they have any legs to stand on in islam or is it clear cut wrong? as in riba is a major sin in islam are these people just following their whims and desires?

    i've also heard of these so called islamic finance banks where they simply replace the word interest with words like profit and say its halal,
    does this have any basis at all?

    i mean if we are being with ourselves we know we can fool man but how could we fool Allah swt?

    jazakAllah khayran
    I always say that when shaytan cant make you a nonmuslim he would deviate you so much you will probably leave islam without realising it.

    And a true believer will always want to know if smth is halal or haram before doing it.

    Buying a house with riba because you dont have a house is like saying i will eat pork because i dont have meat. If you have already a job you can rent a house even when you are retarded you can still rent it.Abu Huraira as far as i know didnt have a house and oh, why he didnt take a riba to buy that house? It was neccesity. Scholars today know it and prophet saws didnt know?

    Let these people rot in hell.They have a disease in their hearts and most of people who do this dont even pray.Allah will not change the condition of a people unless they change themselves.Let them lie to themselves and believe that lie but everybody will know what they used to work, in their last moments.May Allah protect us from riba and keep us in the right path.

    I cant talk about all islamic banks but the majority are the same as a normal bank, just beautified riba but still riba

    Leave a comment:


  • ອາໄສຢູ່ ຣາຮາມ
    replied
    Is there a relation between interest (rate) and inflation (rate)?

    Does the currency printed
    by Central Banks have interest on them?

    Leave a comment:


  • imran1976
    replied
    Wa'alaikum As'salam,

    [Al-Baqarah: 275]
    “Those who take riba (usury or interest) will not stand but as stands the one whom the demon has driven crazy by his touch. That is because they have said: ‘Sale is but like riba.’, while Allah has permitted sale, and prohibited riba. So, whoever receives an advice from his Lord and desists (from indulging in riba), then what has passed is allowed for him, and his matter is up to Allah. As for the ones who revert back, those are the people of fire. There they will remain forever"
    ------------------------------

    their whole argument is based on that riba is a sales transactions, ALLAH swt' clearly says that sales transactions are permitted, but charging riba is prohibited --- by charging riba, they make easy money (exploiting people) and don't have to go through the pain of business activities.

    [An-Nisa:161]
    “And for their charging ribā (usury or interest) while they were forbidden from it, and for their devouring of the properties of the people by false means. We have prepared, for the disbelievers among them, a painful punishment.”
    ------------------------

    there is basis for Islamic finance, lots of work is being done -- we have to carefully study the terms and conditions offered by the Islamic banks.

    mortgage (conventional banking) is haram.--

    Leave a comment:


  • Simply_Logical
    replied
    Originally posted by neelu View Post

    walaykum salam wr wb



    Sahih International
    O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers.

    2:279
    to top

    Sahih International
    And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged.





    They are wrong and there is no Islamic justification for transacting with usury for a first house or for anything else.



    We should be suspicious of "Islamic finance" especially when launched by the kufaar banks. As you say, a lot of it seems to just replace the word interest with profit to try and lend it legitimacy but we should steer clear of it. The "scholars" who give fatwas to endorse it are VERY highly paid for this service.
    yea not sure what daleel these scholars use to say its permissible to get a mortgage for the first house

    Leave a comment:


  • ອາໄສຢູ່ ຣາຮາມ
    replied

    Leave a comment:


  • ອາໄສຢູ່ ຣາຮາມ
    replied
    https://www.ummah.com/forum/forum/lo...-money-masters

    Leave a comment:


  • neelu
    replied
    Originally posted by Simply_Logical View Post
    assalamu alaykum wah rahmahtullahi wah barakatuhu

    hey people so i want to talk about riba, for a start why do many muslims not think anything of taking out riba like student loans, mortgages, car fiances etc?

    does anyone know why its such a sin that equates to waging war with Allah swt and his rasool sallahu alayhi wa salaam?

    walaykum salam wr wb



    Sahih International
    O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers.

    2:279
    to top

    Sahih International
    And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged.



    Originally posted by Simply_Logical View Post
    also ive heard previously of some saying its justified to get a mortgage for a first house to wanting to get on the property ladder so the speak,
    do they have any legs to stand on in islam or is it clear cut wrong? as in riba is a major sin in islam are these people just following their whims and desires?
    They are wrong and there is no Islamic justification for transacting with usury for a first house or for anything else.

    Originally posted by Simply_Logical View Post

    i've also heard of these so called islamic finance banks where they simply replace the word interest with words like profit and say its halal,
    does this have any basis at all?

    i mean if we are being with ourselves we know we can fool man but how could we fool Allah swt?

    jazakAllah khayran
    We should be suspicious of "Islamic finance" especially when launched by the kufaar banks. As you say, a lot of it seems to just replace the word interest with profit to try and lend it legitimacy but we should steer clear of it. The "scholars" who give fatwas to endorse it are VERY highly paid for this service.

    Leave a comment:


  • Simply_Logical
    replied
    Originally posted by Simply_Logical View Post
    War Against Allah – The Dangers of Riba | Whispers | Ep 2

    subhanAllah he said rasool sallahu alayhi wa salaam said the sin riba is worse then 36 counts of adultery,
    anyone know the source of this hadith and if its daef or sahih please? thanks jazakAllah khayran

    Leave a comment:


  • Simply_Logical
    replied
    War Against Allah – The Dangers of Riba | Whispers | Ep 2

    Leave a comment:


  • Simply_Logical
    replied
    this is a good little animated vid by shaykh yasir qadhi

    Leave a comment:

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