Sunday, October 19, 2008

‘Trade is just like usury’ … Did they really say that?

A credit crunch that originated in the United States (wherein NY is the riba city of the world -ed.) is sending shockwaves across the world, causing global stock markets to sink to fresh lows. Despite authorities' best efforts to stave off the crisis, there are growing fears that they may be powerless to stop the worst financial meltdown since the Great Depression.


Know that riba literally means a growth or an addition. The additional amount, collected over and above (za’id ‘ala) the capital given as a loan, is interest or usury. It is an abuse or a misuse of the power one holds over the weak or the needy, and therefore, strictly forbidden.

Those who say usury is only like trading cannot rise up save in a state of insanity as those rise up whom Satan has prostrated by his touch.

الَّذِينَ يَأْكُلُونَ الرِّبَا لاَ يَقُومُونَ إِلاَّ كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَلِكَ بِأَنَّهُمْ قَالُواْ إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا
“Those who devour usury cannot stand except as stand one whom the Evil one by his touch hath driven to madness. That is because they say: ‘Trade is just like usury,’ but Allah hath permitted trade and forbidden usury.” [2:the Cow:275]

Scene 2: Did they really say that?

“I am confident in the long run, the (default: ribawi –ed.) economy will come back.”
- US President George W. Bush


"The school of Marxism has collapsed and the sound of the West's cracking liberal democracy is now being heard."
- Iran's supreme leader Ayatollah Ali Khamenei on the global financial crisis.

Related Articles: ‘This is a reminder: If you like you may take the path to your Lord.’ [76:al-insan:29]

The Qur´an & Riba – by Sayyid Tahir
The Importance of the Prohibition of Riba in Islam - by Imran N. Hosein
Strategy for the Elimination of Riba with Special Reference to Existing Debts - by Sayyid Tahir

We have nothing else to say except: ‘Our Lord! forgive us our sins and transgressions in our duties, establish our feet firmly, and help us against those who resist Faith’ [3:ali imran:147];
ربَّنَا اغْفِرْ لَنَا ذُنُوبَنَا وَإِسْرَافَنَا فِي أَمْرِنَا وَثَبِّتْ أَقْدَامَنَا وانصُرْنَا عَلَى الْقَوْمِ الْكَافِرِينَ

No comments:

Post a Comment