What is usury (Riba)

Introduction

One of such evil means of acquiring wealth which is described in Holy Qur'an is Al-Riba. This practice exist during jahiliyah period and it also exist in modern term.

The aidea of Riba is equivalent in the concept of modern Banks interest, borrowing with interest is now unfotunately a world wide fenorminor.

What is Riba (Usury),

Riba literary means increase or addition and refare to premium that must be paid by the borrower to the Leander along with the principal amount as a condition to the loan it's equivalent to interest.

Types of Riba

There are two types of Ribs namely;

1- Riba Al-Nasiah.
2- Riba Al-fadl.

Riba Al-Nasiah;

Simply means an addition of the money which is paid to the Leander in return for the loan and is technically the same as interest.

Riba Al-fadl;

Simply means extension of Riba to trade it cover all income earned through trade by the dishonesty, fraud and unfair exchange.

Now that we have defined the world Riba, and his types we shall look into the holy Qur'an, and sunnah that show the forbidden of Riba.

The holy Qur'an as contain in surratul Bakarah Q:2:275 where Allah subhanawo wata'alah said; ﭐﻟَّﺬِﻳﻦَ ﻳَﺄۡڪُﻠُﻮﻥَ ﭐﻟﺮِّﺑَﻮٰﺍْ ﻟَﺎ ﻳَﻘُﻮﻣُﻮﻥَ ﺇِﻟَّﺎ ﻛَﻤَﺎ ﻳَﻘُﻮﻡُ ﭐﻟَّﺬِﻯ ﻳَﺘَﺨَﺒَّﻄُﻪُ ﭐﻟﺸَّﻴۡﻄَـٰﻦُ ﻣِﻦَ ﭐﻟۡﻤَﺲِّ ۚ ﺫَٲﻟِﻚَ ﺑِﺄَﻧَّﻬُﻢۡ ﻗَﺎﻟُﻮٓﺍْ ﺇِﻧَّﻤَﺎ ﭐﻟۡﺒَﻴۡﻊُ ﻣِﺜۡﻞُ ﭐﻟﺮِّﺑَﻮٰﺍْ ۗ ﻭَﺃَﺣَﻞَّ ﭐﻟﻠَّﻪُ ﭐﻟۡﺒَﻴۡﻊَ ﻭَﺣَﺮَّﻡَ ﭐﻟﺮِّﺑَﻮٰﺍْ ۚ ﻓَﻤَﻦ ﺟَﺎٓﺀَﻩُ ۥ ﻣَﻮۡﻋِﻈَﺔٌ ﻣِّﻦ ﺭَّﺑِّﻪِۦ ﻓَﭑﻧﺘَﻬَﻰٰ ﻓَﻠَﻪُ ۥ ﻣَﺎ ﺳَﻠَﻒَ ﻭَﺃَﻣۡﺮُﻩُ ۥۤ ﺇِﻟَﻰ ﭐﻟﻠَّﻪِ ۖ ﻭَﻣَﻦۡ ﻋَﺎﺩَ ﻓَﺄُﻭْﻟَـٰٓٮِٕﻚَ ﺃَﺻۡﺤَـٰﺐُ ﭐﻟﻨَّﺎﺭِ ۖ ﻫُﻢۡ ﻓِﻴﮩَﺎ ﺧَـٰﻠِﺪُﻭﻥَ

Those who swallow usury cannot rise up save as he ariseth whom the devil hath prostrated by (his) touch. That is because they say: Trade is just like usury; whereas Allah permitteth trading and forbiddeth usury. He unto whom an admonition from his Lord cometh, and (he) refraineth (in obedience thereto), he shall keep (the profits of) that which is past, and his affair(henceforth) is with Allah. As for him who returneth (to usury) - Such are right of the Fire. They will abide therein..

Another authority

Q2:276 where Allah subhanawo wata'alah said;

ﻳَﻤۡﺤَﻖُ ﭐﻟﻠَّﻪُ ﭐﻟﺮِّﺑَﻮٰﺍْ ﻭَﻳُﺮۡﺑِﻰ ﭐﻟﺼَّﺪَﻗَـٰﺖِ ۗ ﻭَﭐﻟﻠَّﻪُ ﻟَﺎ ﻳُﺤِﺐُّ ﻛُﻞَّ ﻛَﻔَّﺎﺭٍ ﺃَﺛِﻴﻢٍ

Allah hath blighted usury and made almsgiving fruitful. Allah loveth not the impious and guilty.

Similarly Q 2:278 where Allah subhanawo wata'alah said;

ﻳَـٰٓﺄَﻳُّﻬَﺎ ﭐﻟَّﺬِﻳﻦَ ﺀَﺍﻣَﻨُﻮﺍْ ﭐﺗَّﻘُﻮﺍْ ﭐﻟﻠَّﻪَ ﻭَﺫَﺭُﻭﺍْ ﻣَﺎ ﺑَﻘِﻰَ ﻣِﻦَ ﭐﻟﺮِّﺑَﻮٰٓﺍْ ﺇِﻥ ﻛُﻨﺘُﻢ ﻣُّﺆۡﻣِﻨِﻴﻦَ O ye who believe! Observe your duty to Allah, and give up what remaineth (due to you) from usury, if ye are (in truth) believers.

Again in Q 2:279 Allah said;

ﻓَﺈِﻥ ﻟَّﻢۡ ﺗَﻔۡﻌَﻠُﻮﺍْ ﻓَﺄۡﺫَﻧُﻮﺍْ ﺑِﺤَﺮۡﺏٍ ﻣِّﻦَ ﭐﻟﻠَّﻪِ ﻭَﺭَﺳُﻮﻟِﻪِۦ ۖ ﻭَﺇِﻥ ﺗُﺒۡﺘُﻢۡ ﻓَﻠَڪُﻢۡ ﺭُﺀُﻭﺱُ ﺃَﻣۡﻮَٲﻟِڪُﻢۡ ﻟَﺎ ﺗَﻈۡﻠِﻤُﻮﻥَ ﻭَﻟَﺎ ﺗُﻈۡﻠَﻤُﻮﻥَ

And if ye do not, then be warned of war (against you) from Allah and His messenger. And if ye repent, then ye have your principal (without interest). Wrong not, and ye shall not be wronged.

Further more in Q 4:161 Allah said;

ﻭَﺃَﺧۡﺬِﻫِﻢُ ﭐﻟﺮِّﺑَﻮٰﺍْ ﻭَﻗَﺪۡ ﻧُﮩُﻮﺍْ ﻋَﻨۡﻪُ ﻭَﺃَﻛۡﻠِﻬِﻢۡ ﺃَﻣۡﻮَٲﻝَ ﭐﻟﻨَّﺎﺱِ ﺑِﭑﻟۡﺒَـٰﻄِﻞِ ۚ ﻭَﺃَﻋۡﺘَﺪۡﻧَﺎ ﻟِﻠۡﻜَـٰﻔِﺮِﻳﻦَ ﻣِﻨۡﮩُﻢۡ ﻋَﺬَﺍﺑًﺎ ﺃَﻟِﻴﻤًﺎ

And of their taking usury when they were forbidden it, and of their devouring people's wealth by false pretences, We have prepared for those of them who disbelieve a painful doom.

Also Q 3:130 Allah said;

ﻳَـٰٓﺄَﻳُّﻬَﺎ ﭐﻟَّﺬِﻳﻦَ ﺀَﺍﻣَﻨُﻮﺍْ ﻟَﺎ ﺗَﺄۡڪُﻠُﻮﺍْ ﭐﻟﺮِّﺑَﻮٰٓﺍْ ﺃَﺿۡﻌَـٰﻔًﺎ ﻣُّﻀَـٰﻌَﻔَﺔً ۖ ﻭَﭐﺗَّﻘُﻮﺍْ ﭐﻟﻠَّﻪَ ﻟَﻌَﻠَّﻜُﻢۡ ﺗُﻔۡﻠِﺤُﻮﻥَ O ye who believe!

Devour not usury, doubling and quadrupling (the sum lent). Observe your duty to Allah, that ye may be successful.

also in Q 3:130 Allah said;

ﻭَﭐﺗَّﻘُﻮﺍْ ﭐﻟﻨَّﺎﺭَ ﭐﻟَّﺘِﻰٓ ﺃُﻋِﺪَّﺕۡ ﻟِﻠۡﻜَـٰﻔِﺮِﻳﻦَ

And ward off (from yourselves) the Fire prepared for disbelievers.

Also chapter Q30:39 ﻭَﻣَﺎٓ ﺀَﺍﺗَﻴۡﺘُﻢ ﻣِّﻦ ﺭِّﺑًﺎ ﻟِّﻴَﺮۡﺑُﻮَﺍْ ﻓِﻰٓ ﺃَﻣۡﻮَٲﻝِ ﭐﻟﻨَّﺎﺱِ ﻓَﻠَﺎ ﻳَﺮۡﺑُﻮﺍْ ﻋِﻨﺪَ ﭐﻟﻠَّﻪِ ۖ ﻭَﻣَﺎٓ ﺀَﺍﺗَﻴۡﺘُﻢ ﻣِّﻦ ﺯَﻛَﻮٰﺓٍ ﺗُﺮِﻳﺪُﻭﻥَ ﻭَﺟۡﻪَ ﭐﻟﻠَّﻪِ ﻓَﺄُﻭْﻟَـٰٓٮِٕﻚَ ﻫُﻢُ ﭐﻟۡﻤُﻀۡﻌِﻔُﻮﻥَ

That which ye give in usury in order that it may increase on (other) people's property hath no increase with Allah; but that which ye give in charity, see king Allah's Countenance, hath increase manifold.

Sunnatic point of view for the prohibition of Riba.

The sunnah of prophet Muhammad may peace be upon him is equally rich for prohibition of Riba the prophet may peace be upon him Has pronouns Allah course on those involved in the practice of Usury.

Hazrat jabir may Allah be please with him reported the prophet of Allah said;

"Allah has course one who except Usury one who paid it one who recorded it and two witness to it.

In another Hadith Abu Huraira reported that Riba has 70 segments the lease serious among them is a man committing adultery with his mother.

In another Hadith the Holy prophet said; Allah will be justify in no allowing four person to enter Paradise they include;

1- He who drink habitually.
2- He who take riba.
3- He who eat ophance property.
4- He who is undutyfy to his parents.
May Allah safeguard us and protect us from these four things. Ameen

In another Hadith the prophet has report to have said;

I came across some people who have protruded stomach and snake are eating from their stomach I ask who are these people Angel jibril he said they are people who received Riba.

Reason behind the prohibition of Riba.

Under Islamic law it's not permissible for a believe to ask for the reason behind the prohibition of Riba, the best thing for a believer is just to said we hear and we summit.

However in an institute or academic environment it will not be wrong to us to ask the reason behind it prohibition.

The reasons for the prohibition of Riba (Usury) are as follows;

1- the borrower is always receiving end.
2- Riba (Usury) transfer wealth to the rich lender.
3- The poor borrower is under risk in case where invest the money and he fail.
The followings are the effect of Riba (Usury).

1- injustice and unjustifiable means enrichments. See Qur'an 2:278-282 as we have mentioned earlier.

The prophet Muhammad may peace be with him said; while he was underlined of journey ascendant to heaven he said he saw something written in door of heaven, sadaqar has ten(10) reward and loan has (18) reward he said he ask the angel jibril how comes the loan is given more reward than sadaqar the angel replied him the begger who ask has already has something the person who ask for loan he is in need of it.
2- it favour the rich against the poor.
3- effect on production.
4- effect in the economy.
5- social political Congress and insecurity in the society.

All these ingredients has been found in our community today across the globe may Allah subhanawo watalah safeguard us and protect us from engaging into usury. Ameen. and those who are in the system ya Allah guide them Ammen.

Lecture By Barr.mj lemu