Among the most discussed financial related issues in the holy Qur’an is Interest, Also known as Ri’ba. It is a concept, popular in the western world but which Allah totally frowned at and warn believers to abstain from. Allah shed more light on it in Surat Ali- Imran.
Surat Al Imran is the third chapter of the Quran with two hundred verses. Imran in Islam is regarded as the father of Mary. This chapter is named after the family of Imran, which includes Imran, Saint Anne, Mary, and Jesus. It contained 200 verses, 3,503 words and 14,605 letters. It is classified in Juz’ 3 – 4 of the holy Qur’an and was revealed in Al Madinah.
In verses 130- 136 of surat Ali- Imran, Allah in the holy Qur’an, speaks again about the concept of Ri’ba. Allah says;
﴿يَـأَيُّهَا الَّذِينَ ءَامَنُواْ لاَ تَأْكُلُواْ الرِّبَا أَضْعَـفاً مُّضَـعَفَةً وَاتَّقُواْ اللَّهَ لَعَلَّكُمْ تُفْلِحُونَ – وَاتَّقُواْ النَّارَ الَّتِى أُعِدَّتْ لِلْكَـفِرِينَ – وَأَطِيعُواْ اللَّهَ وَالرَّسُولَ لَعَلَّكُمْ تُرْحَمُونَ – وَسَارِعُواْ إِلَى مَغْفِرَةٍ مِّن رَّبِّكُمْ وَجَنَّةٍ عَرْضُهَا السَّمَـوَتُ وَالاٌّرْضُ أُعِدَّتْ لِلْمُتَّقِينَ – الَّذِينَ يُنفِقُونَ فِى السَّرَّآءِ وَالضَّرَّآءِ وَالْكَـظِمِينَ الْغَيْظَ وَالْعَـفِينَ عَنِ النَّاسِ وَاللَّهُ يُحِبُّ الْمُحْسِنِينَ – وَالَّذِينَ إِذَا فَعَلُواْ فَـحِشَةً أَوْ ظَلَمُواْ أَنْفُسَهُمْ ذَكَرُواْ اللَّهَ فَاسْتَغْفَرُواْ لِذُنُوبِهِمْ وَمَن يَغْفِرُ الذُّنُوبَ إِلاَّ اللَّهُ وَلَمْ يُصِرُّواْ عَلَى مَا فَعَلُواْ وَهُمْ يَعْلَمُونَ – أُوْلَـئِكَ جَزَآؤُهُمْ مَّغْفِرَةٌ مِّن رَّبِّهِمْ وَجَنَّـتٌ تَجْرِى مِن تَحْتِهَا الاٌّنْهَـرُ خَـلِدِينَ فِيهَا وَنِعْمَ أَجْرُ الْعَـمِلِينَ ﴾
(130. O you who believe! Do not consume Riba doubled and multiplied, but fear Allah that you may be successful.) (131. And fear the Fire, which is prepared for the disbelievers.) (132. And obey Allah and the Messenger that you may obtain mercy.) (133. And march forth in the way (which leads to) forgiveness from your Lord, and for Paradise as wide as the heavens and the earth, prepared for the Muttaqin (the pious).) (134. Those who spend (in Allah’s cause) in prosperity and in adversity, who repress anger, and who pardon men; verily, Allah loves the Muhsinin (the good-doers).) (135. And those who, when they have committed Fahishah (immoral sin) or wronged themselves with evil, remember Allah and ask forgiveness for their sins; and none can forgive sins but Allah, and do not persist in what (wrong) they have done, while they know.) (136. For such, the reward is forgiveness from their Lord, and Gardens with rivers flowing underneath (Paradise), wherein they shall abide forever. How excellent is this reward for the doers (of good).)
Riba’ which is seen today in every just society has been frowned at by Allah (SWT) in several verses of Holy Quran. It is forbidden
Surat Al Imran is the third chapter of the Quran with two hundred verses. Imran in Islam is regarded as the father of Mary. This chapter is named after the family of Imran, which includes Imran, Saint Anne, Mary, and Jesus. It contained 200 verses, 3,503 words and 14,605 letters. It is classified in Juz’ 3 – 4 of the holy Qur’an and was revealed in Al Madinah.
Allah prohibits His believing servants from dealing in Riba and from requiring interest on their capital, just as they used to do during the time of Jahiliyyah. For instance, when the time to pay a loan comes, the creditor would say to the debtor, “Either pay now, or the loan will incur interest.” If the debtor asks for deferment of the loan, the creditor would require interest and this would occur year after year until the little capital becomes multiplied many times. Allah also commands His servants to have Taqwa of Him so that they may achieve success in this life and the Hereafter. Allah also threatens them with the Fire and warns them against it, saying,
﴿وَاتَّقُواْ النَّارَ الَّتِى أُعِدَّتْ لِلْكَـفِرِينَ – وَأَطِيعُواْ اللَّهَ وَالرَّسُولَ لَعَلَّكُمْ تُرْحَمُونَ ﴾
(And fear the Fire, which is prepared for the disbelievers. And obey Allah and the Messenger that you may obtain mercy.) ﴿3:131,132﴾.
Credit: Tafsir Ibn Kathir
