subject: An insight into riba and usury (interest) [print this page] An insight into riba and usury (interest)
The literal meaning of Al-RIBA means to excess or increase. In the Islamic terminology, interest means effortless profit or that profit which comes free from compensation or that extra earning obtained that is free of exchange. Hazrat Shah Waliullah Dehlvi a great scholar and leader have given a very concise and precise definition of interest. He says, "Riba` is a loan with the condition that the borrower will return to the lender more than and better than the quantity borrowed." Interest is not a subject without trade and commerce. Islam recognizes trade and commerce not only as a lawful profession but also as a moral duty. Islam has laid down a complete set of rules for trade. The reason for these rules is to specify what halal earning is. Actually, Islam has encouraged men to earn their own provision and to provide it to their families. The condition is that the earning has to be according to the conditions set by the Shari'ah.
If we explore the Qur'an we will come across at least four places where Allah has mentioned interest. For instance, in Surah Al-Baqarah verse no.275 Allah says, "Those who devour usury will not stand except as stands one whom the Satan by his touch has driven to madness. That is because they say, "trade is like usury", but Allah has permitted trade and has forbidden usury", in the next verse 276 in the same place, Allah says, "Allah will deprive usury of all blessing, and will give increase for deeds of charity, for he does not love any ungrateful sinner." In Surah Aal-Imran, verse no.130, Allah says, "Oh you who believe! Devour not usury doubled and multiplied; but fear Allah that you may prosper." Hazrat Jabir (RA) has reported that the Messenger of Allah (PBUH) cursed the devourer of usury, its payer, its scribe and its two witnesses. He also said that they were equal (in sin). (Muslim). Hazrat Abu Hurairah (RA) reported that the Messenger of Allah (PBUH) said: Usury has got seventy divisions. The easiest division of them is a man marrying his mother. (Ibn Majah).
In the light of Qur'an and Ahaadith it is apparent to us that interest could never be legal and halal. How could we Muslims take the time out to think about a matter in which Allah has declared war on the user and his Beloved Prophet (PBUH) has cursed him? As sensible people we can understand that what our creator has chosen for us is for our own prosperity only. A person who takes interest does not gain anything in reality but through the explanation of the Qur'an verse, "Allah decreases interest and increases sadqah". That in reality the money just goes to waste and the person does not even realize, and a person who gives money in the path of Allah, in whatever form it may be, actually gains although in reality it seems as though he is losing out.
The dealings of usury and interest are not only a disadvantage to us in this world but will also be a source of great discomfort and pain for us in the hereafter. It is really worth destroying the eternal life of the hereafter, just so that we may have a few more comforts in a life which can come to an end any moment. If we consider Allah's Guidance to be essential for success in the Hereafter, then the struggle to stay away from interest despite the prevailing system is our way of achieving Allah's pleasure. I agree that it is difficult. But Allah promises Paradise in the life to come which is everlasting. The example of this world compared to the world to come, as the Prophet (PBUH) said, is like a drop of water to an ocean. Let's promise ourselves today, never be involved in any kind of interest, instead, lets do trade with Allah, spent in the way of Allah and get many times more return. Allah will reward us in this world and afterwards.
