Thats what I thought.
The answer to this lies in understanding that certain things have an intrinsic value that does not change and some things do not have an instrinsic value such as fiat money. In this case it would have been better to exchanged in the commodity for which the money was being borrowed.
So if there was just one hadith prohibiting or, lets say, commanding an issue...would you just discard it?
Let it be known for the umpteenth time, Hadith are a revelation from Allah. The Prophet did not pass judgements and commands based on his desires. He was being commanded, guided and inspired by Allah.
Think about it , since interest was such a big issue in Islam that Allah (SWT) prohibited taking interest on loaned money. Why it so that there is only one hadees which prohibits paying interest. Think about it , again , Allah in Quran prohibited taking interest on loaned money at many places but you cannot quote once single verse which prohibits paying interest and any kind of sin , penalty or punishment attached to paying interest on the other hand taking interest has been declared sin , there is a punishment for it even Allah declared Jihad against those who take interest on loaned money.
Explain this to me if you can in clear terms , not using cyclical or twisted logic. Allah is not short on words (naoozobillah) nor is Allah's Prophet (SAW).
Re: Is paying of interest not allowed in Islam ?
how can somebody receive interest if nobody pays. trying to differentiate between paying and receiving in this respect is playing small print with God
Those who say that interest is forbidden (and equating usury to it), please answer the following question with your Islamic reasoning:
Oye cheeteh yeh bata ke inflation kion hoti hai. Inflation is fiat money aur fractional reserve banking ki waja se hoti hai. Modern banking main na siraf sood hai, balke ye do buraian yani fractional reserve aur fiat money bhi shaamil hain. So basically banks are primarily responsible for causing inflation. Now the solution is to have currency based on gold and silver. When dollar was backed up by gold from 1833 to 1930, only 5% inflation occured and now 3% annual inflation occurs. All these three, interest, fiat currency and fractional reserve are the root of all evil in the world and should be abolished. And don't try to twist Islam, by saying that usury = riba but not interest = riba. Keepy your nonsense to yourself OK!
السلام عليكم ورحمة الله وبركاته
Assalam-o-alykum wrb
Islam strictly prohibits interest. There are hadiths that prohibits taking and giving interest. Prophet curse on anyone who is involved in the business of interest in any way, even the person who do write record of interest.
جزاك اللهُ خيراً
Jazakallahu Khayran