Intrest (Halal ya Haram)

Society Religion & Philosophy
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Aslam Alikum

to all members

I know interest is HARAM, but i want to know the situation where interest is HALAL.

i mean any case, in which we can take or give INTEREST for any cause.

Please reply with some references

waiting

Rana Tipu

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Re: Intrest (Halal ya Haram)

Islam recognizes the difference between buying things in cash and buying in installments and if the seller sets a higher price for installments and buyer agreed to that, there is nothing wrong in that.

You can call that halal interest although the above arrangement is really not interest

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Re: Intrest (Halal ya Haram)

Interest is HARAM

is it possible to take it and is it possible to give interest money to any one

what would be the conditions in which one may take or give interest money.

whether for the publicity of ISLAM

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Re: Intrest (Halal ya Haram)

^ Peace rana_tipu

Please voice this question to an Imam, it is not something we are qualified to answer here nor should we allow ourselves to be blamed in giving people excuses to break the generality of Divine Law.

As far as I am concerned interest is haram in whatever shape of form it is in, if you choose to do it for whatever reason even if it is for charity you should never believe that it is 'permissible', just that we have chosen to obey the weakness inside us.

On one side you want to publicise Islam and on the other side you give or take interest ... would that not look like hypocrisy to the people you are publicising Islam to?

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Re: Intrest (Halal ya Haram)

'Interest' is haram, 'markup' is not.... while in substance, they are both the same. What hypocrisy.

One cannot get away from interest based economy unless you devise a truly 'Islamic' financial system which is yet to be 'agreed upon'! I agree with Psyah that we are not qualified enough to answer the question, since most of the experts in the field are themselves not in agreement with each other regarding it.

I think (not necessarily correctly) interest carrying elements of coercion or exploitation (riba) is haram. The prohibition for interest came when we did not have paper money and used gold/silver for trade. The inflation in the economy was covered with increase in value of gold and silver and hence no need for charging interest. Now that the financial systems have gone through enormous changes, we need to reconsider the prohibition in its spirit rather than literal meanings.

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Re: Intrest (Halal ya Haram)

In some cases eating of a Pig is even Halal....

Now taking the similar situation a person cannot buy a house in western countries without paying interest. Now he only have few choices left.

1- Buy the house on interest
2- Live in rented flat whole life and face threat of being evicted at anytime
3- Live on the road
4- Live at In-Laws place (without integrity)

I would take option 1.

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you said u take option 1
i think i have seen you before, you are a merzi, only a mirzai can say that INTEREST is halal,

PSYAH said

[QUOTE]
As far as I am concerned interest is haram in whatever shape of form it is in, if you choose to do it for whatever reason even if it is for charity you should never believe that it is 'permissible', just that we have chosen to obey the weakness inside us.
[/QUOTE]

and according to me i think interest is not permisible in any of the case, there are a lots of Ahadees which proves that Interest is Haram, if you think that you may take or give interest you must give any reason from AHADEES.

waiting u d-tox..ed

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Re: Intrest (Halal ya Haram)

One Hadees regarding the Interest is as follow

Aaap (Saw) nay Interest khanay walay, Interest dainay walay, issay likhnay walay aur iss kay gawah bananay walay, sab par brabar ki lanat bhaijee hay. (Muslim Baab Laan al Riba #. 1597)

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Re: Intrest (Halal ya Haram)

If we see QURAN

Surah Al Baqarah 278-279

O Ye who believe! fear Allah, and give up what remains of your demand for usury, if ye are indeed believers.
if ye do it not, take notice of war from Allah and his messenger: but if ye turn back, ye shall have your capital sums: Deal not unjustly, and ye shall not be dealt with unjusticely.

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Re: Intrest (Halal ya Haram)

well...u didnt see my point Shia/Sunni ...i know i have heard of you before...you are that shia/Sunni guy.... lets get back to point.

I am not saying its Halal or Haram...interest is obviously Haraam.

However what would say to Million of Muslims living in Briton bought house on interest and few thousand ahmadi living in UK bought house on interest?

Insaaf ka taqaaza to ye hai ke taraazoo ko braaber rakho...warna khuda ki esi pakar aaye gi ke tumhien pata bhi nahin challe ga...

So what I was trying to say that if in conditions even PIG is halaal then there would be conditions where you cannot survive without interest.

Interest is pedawaar of Jewish lobby and they are the only one who get benefit from that....

Infact lets narrow it down...what would you say to Pakistan borrowing Billions from International Banks on strong conditions i.e interest?

P.S - Calling you SHIA was for illustation purpose only as what you wront about me was offensive. Hence you should not mind if I call you SHIA/SUNNI publicly even if you are not as I am not Merzai!

Baingan ka raita
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First of all I disagree with the notion that mullah are experts in everything. May be they can tell you how to perform your rituals correctly but for more wordly things you need to consult people who are more exposed to wordly systems. they must have the right qualifications and must have understanding of the topic this case business, economics and finance. It's just like for an ailment you go to a mullah for treatment instead of a doctor. We have made Islam a religion of clergy with this mentality and this is the reason why muslims suffer from such a backwardness.

[quote]
As far as I am concerned interest is haram in whatever shape of form it is in, if you choose to do it for whatever reason even if it is for charity you should never believe that it is 'permissible', just that we have chosen to obey the weakness inside us.

On one side you want to publicise Islam and on the other side you give or take interest ... would that not look like hypocrisy to the people you are publicising Islam to?
[/QUOTE]

The financial realities in modern times are very different from the one's prevailing in 14th century. Markets, systems, and instruments are more structured today.

Modern money should be considered as a commodity like anyother commodity such as rice, wheat, steel, copper etc.etc.

The valuation of this commodity in modern societies is based on market demand/supply taking in to consideration the quality of collateral, risk factor, and the general demand for investment according to the situation prevailing. The intercurrency rates and future prospects have to be considered. You must understand the value of money in a modern society is never constant and is always depreciating. Some currencies depreciate more and some less according to the economic situation of that particular country.

Market based trading has following advantages in a modern society:

a) It facilitates idle resources to be injected in to productive channels. Stagnation of wealth is avoided.

b) Open market trading restricts exploitation of both who is selling this commodity or for that matter whoever is purchasing the same.

In order to understand a jurisprudence always the intention of the lawmaker (in this case Allah is the law maker) is determined. Now based on this statement you can easily conclude:

1) The intention of the law maker is to avoid exploitation.

2) The intention of the law maker is not to stagnate the circulation of wealth.

3) The intention of law maker is not to discourage productive channels and resultantly create backward poor societies.

My personal opinion:

Any system based on market orientation to buy or sell commodity called money and does not have exploitation factor is perfectly halal according to Islam. There is no need to consult mullahs on this matter who do not understand anything about fianancial and economic matters. Infact mullahs should just be confined to mosques and should not be allowed to comment on politics, defence, economics, science, medical or any other subject which requires a lot of education and experitse.

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Re: Intrest (Halal ya Haram)

if you are not merzai or qadiani so i must say sorry. okie

but will you please let me know any of the condition in which Interest is halal

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Any system which is based on natural market demand and supply and does not have exploitation is perfectly halal.

You can study any modern banking system based on these principles and if it conforms to following two principles it is halal:

1) The borrower of money in this case buyer of money does not have the intention of misappropriating the money from the seller by fraud.

2) The seller is not exploiting the need and situation of the buyer by overcharging him for this money.

Both these situations can be avoided if buying and selling of money is market based....

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Re: Intrest (Halal ya Haram)

I can think of three things which are Haraam. (Lets keep to three for the moment)

Alcohol
Pig
Interest

Alcohol is plainly Haraam. However with honesty I can tell you it is widely available and consurmed in Islamic Countries. (I dont know about Saudi Arabia). It is fact you cannot deny this.

Pig is Haraam. However I have never seen or heard a Muslim eating Pig. They for some odd reason would consume Alcohol but wont eat Pig. Perhaps there are a lot alternatives in eating. Likewise Alcohol has no alternative and it is consumed widely.

Interest in my opinion is like Alcohol. It does not have alternatives. Interest is plain interest. We are commanded not to run our businesses on Interest. Dont buy on interest nor take interst. However there are situation where you just have no other option but to deal with interest. You will not find any Nation in the world which borrows money from IMF without interest. Not even a single Islamic country. All world economy and financial institution depends on that. If you suddenly take this out from context then markets will collapse. There will be total destruction.

Compare the above life threatning scenario with eating of Pig made Halal in life threatning situation. We should avoid it as much as we can however can only do our best but in current times its unavoidable. Just pray to Allah that he gives Muslims the authority to rule again so Islmic Financial System can be brought.

(P.S I am not Merzai nor Qadiani however I do consider my self Ahmadi and would like to be called with that name and I wont mind if you call me Ahmadi 100 of times)

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Buying and selling any commodity including money is not haram...exploitation is haram!!!

P.S> If you bought your house through a mortgage by negotiating the value of money; you brought some idle resources in to productive channels by creating a demand for an additional house. You thus created income for a whole chain of industries. If this transaction is based on market forces and there is no exploitation involved it is beneficial for the society as well as you. There is no alternate system to create such a transaction. I don't think it is haram.

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Re: Intrest (Halal ya Haram)

well i am not trying to exploit anything....that was my personal opinion.

Buying and Selling things on Interest (this be the correct statement from you) is haraam

PMLN delegation visits 90
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Re: Intrest (Halal ya Haram)

Its too much economics and stats, but i would like to ask Mr. Yazdi here one small q? Is interest, and its various forms, Haram or not? That's all.

For example,
lets take the scenario of banking. Interest on fix deposit boxes?
Interest on loan.
Interest on mortgages like property or houses or e.t.c.

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This is totally opposite to normal mullah version who invented hypocritical Islamic banking. This is exactly what they allow, buy and sell commodities other than money on interest on behalf of a third party, but do not allow buying and selling money as a commodity.

According to so called Islamic banking invented by mullahs" buying and selling things on interest is not haram" contrary to what you have mentioned...Infact this is the base of hypocritical so called Islamic banking system...

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Re: Intrest (Halal ya Haram)

And please make the simple answer as the common denominator. I don't want to see "In my opinion, or i think/don't think' decorated at the end. Thanks again.

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Re: Intrest (Halal ya Haram)

OKie dxted so u r ahmedi

if any one gives a fatwa that a person can give or take interest

what will you say about that person