The nature of Riba and rationale of prohibition : reason in of the prohibition of Riba
Fatawa Question
[Question One] : Assalam-O-Alaikum respected brother, Please could you give me authentic reasoning for prohibition of Riba. [Question Two] : Thank you for your prompt reply. I didnt make my background clear with the first email. I am a final year student stuyding BSc business management (accounting). As part of my dissertation (project of 12,000 words) I have chosen Islamic finance. I clearly know that Riba is forbidden in Qur'an and Sunnah. It is a sin greater than adultery. I also understand that there is no definition given of Riba in the Qur'an or Sunnah. What I wanted to know from you, was the reasoning given by Almighty Allah for prohibition of usury ? From the passages of glorious Qur'an you quoted to me, it seems Allah Almighty is basically informing us that it is unjust and not charitable, against brotherhood ? Would this be a correct assessment brother. I think, that by your answer you mistook me for someone who doesnt want to except that Riba is Haram. I think that was partly because I never made myself clear but you shouldn’t [Question Three] : Brother, I'm sorry, I clearly misunderstood you. With regards to brotherhood and charity, what I was trying to ask you was that would you agree that riba is seen as selfish and that it doesn’t promote brotherhood and charity ? This may not be stated in such exact wordings in the Qur'an but do you feel it is fair to derive this reasoning as you pointing out that Allah says it is unjust. And I am sorry for this misunderstanding. In your initial reply to my email you said 'I suspect you don’t like my answer do you ?'. I was of the opinion that you thought I denied interest to be forbidden as no doubt some brothers do believe. Sorry for the confusion anyway. Jazak-Allah Wasalam
Fatwa
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Publication Date
2006-09-22
Main Subjects
Economics & Business Administration
Islamic Studies
No. of Pages
3
Data Type
Fatawa
Language
English
Record ID
BIM-790181
American Psychological Association (APA)
Qahf, Mundhir. 2006-09-22. The nature of Riba and rationale of prohibition : reason in of the prohibition of Riba. .
https://search.emarefa.net/detail/BIM-790181
Modern Language Association (MLA)
Qahf, Mundhir. The nature of Riba and rationale of prohibition : reason in of the prohibition of Riba. 2006-09-22.
https://search.emarefa.net/detail/BIM-790181
American Medical Association (AMA)
Qahf, Mundhir. 2006-09-22. The nature of Riba and rationale of prohibition : reason in of the prohibition of Riba.
https://search.emarefa.net/detail/BIM-790181
