Some days ago, I was discussing the issue of Hurmat of Riba (interest) with my father. He was of the view that it is not haram for the person who obtained loan on interest for meeting his needs in the circumstances where he doesn’t have anyother option. He supported his view by giving example that Rasoolallah (SAW) also obtained loan on interest from jews.
I was of the opinion that Rasoolallah (SAW) might have taken loan by pledging some of his property (like sword or other weapons) and that may be probably before hurmat of Riba. My father said that how could jews provided loan without obtaining any benefit (interest). He further said that at the time of Rasoolallah’s (SAW) death, some of his property was pledged with a jew from he has taken loan, so the practice of taking loan on interest probably continued after Hurmat of Riba.
The issue is quite complicated and to some ppl it may be controversial. I need to know the answers to above matters with proper references.
i think.....like the general law of necessity.......this might be allowed in case of extreme hardship.........like when haram food becomes halal in matter of survival.......
but general consensus is that receiving and paying both are haram...
references i don't have at the moment...so sorry about that..
i think.....like the general law of necessity.......this might be allowed in case of extreme hardship.........like when haram food becomes halal in matter of survival.......
but general consensus is that receiving and paying both are haram...
references i don't have at the moment...so sorry about that..
My Mom was also of the same view, but then my father said its about bribe not Riba.
sood kaa jitnaa lenaa Haraam hai utnaa hii denaa bhii magar somehow we have watered it down to suit our needs to buy a house or a car! what a hypocrisy!!!
(1) There are already three hadith that I have found that condemn the giving of rib’a and the verse in Surah Al-Baqarah 276 …It states that Allah (SWT) will destroy rib’a …** this means the act of rib’a will be punishable.The giving or taking is not specified in that ayat.**
(2) Quran has given Muslim a relaxation , as to if they have no choice they can pay interest to non-Muslims who lend money on interest . This relaxation is along the lines where in case of eminent death you are allowed to eat from haram to save your life
**(How can we equate taking loan on interest for financing say home or car with eating haram to save life. You can live in rented house or use public transport)
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(3) Abdullah ibn Mas’ud narrated: “The Apostle of Allah (peace be upon him) cursed the one who accepted usury, the one who paid it, the witness to it, and the one who recorded it.” (Sunan of Abu-Dawood 3327)
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(Based on the above, many people avoid working in Banks. Some ppl in audit profession also avoid auditing a Bank).
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(4) 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.
I’m still confused on the following:
(a) What was the practice of Rasoolallah (SAW) after hurmat of Riba?
(b) What was the terms and conditions for lending money by jews at that time?
(c) Did Islamic Bait ul Maal maintained by Khulafai Rashidin provided interest free loans to public to discourage interest.