• Transactions & Dealings >> Interest & Insurance

    Question ID: 41592Country: India

    Title: Interest

    Question: One of my uncles friend is a Hindu and he reads Quran and asked the question that " In Quran it says that interest is haram. Physically we can see that it is a gain and profit but why Islam has prohibited interest. As we know it is haram we just obey the words but I want to tell a Hindu why Allah (SWT) made interest haram? Please help me to make him understand this thing, if possible guide me to some online English book which says about interest.

    Answer ID: 41592

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1589/1194/D=1433) The kafirs of Mecca also put this question before the holy Prophet Muhammad (صلى الله عليه وسلم) that interest is also a kind of profit hence as it is lawful to gain profit by sale and purchase in the same way it also should have been lawful to earn profit by interest. The holy Quran quotes such types of question. قَالُواْ إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا . [البقرة : 275] And then replies it: وَأَحَلَّ اللّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا [البقرة : 275] Apparently, both are the methods of getting profit but Almighty Allah has declared that getting profit by sale and purchase is halal and earning profit by interest is haram. It means that Allah the Almighty is absolute Ruler and He is aware of the apparent and hidden characteristics and badness of each and every thing. He declared sale and purchase halal and interest as haram. Just we should believe this much that interest was declared haram due to bearing many vices. It has been discussed in Ma’ariful Quran by Mufti Muhammad Shafee Sahib (رحمة الله) in detail. You can get the Tafseer of the said verse in Ma’ariful Quran in detail.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India