Muslim are Forbidden to Devour Interest
S j tubrazy
Analysing the material of the Holy Qur’an and Sunnah of the Holy Prophet forbidding Muslims to devour interest, it is noticed that as the interest-bearing transactions were prevalent among the Arabs for a long time and it had taken roots in their economic and social life, the prohibition of interest came gradually. The injunction as contained in S.XXX : 39 of the Holy Qur’an is of an advisory nature, on moral plane, that interest, in reality, does not increase the wealth, but it is the charity, seeking Allah’s pleasure, that increases manifold. The other injunction (S.III : 12) forbids Muslims to take compound interest (usury), in order to be dutiful to Allah Almighty. so that real prosperity may come to them. Some people thought `trade’ and `interest’ alike. Then came the admonition that whoever devours interest will stand like the one whom Satan has bewildered and maddened by his touch. Then they were ordered to desist from taking interest and he who abstains from taking interest shall be pardoned for his past actions, but he who I repeats the same shall go to Hell, where he shall abide forever. Then came an absolute injunction to Muslims to forego interest, if they really believe in Him and then came the warning, that if you do not forego interest, which has already accrued to you, and do not desist from taking it any further, beware of war on the part of Allah and His Apostle. This warning, in fact, implies that whoever wants to be in peace with Allah and his Apostle he is to desist from taking interest, otherwise state of war with Allah and His Prophet continues. Then came another injunction to be content with receiving back the principal amount followed by an advice that if the debtor is in difficulty, time be given to him (S.II:277-80). At the end (S.I1:281), there is a reminder to have fear of Allah and that when they will go back to Allah, on the day of resurrection, each one will be paid back for what he has earned in this world.