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interest and islam
11-15-2010, 02:48 PM,
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by FarhanCPA</i>
<br /><blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by FarhanCPA</i>
<br />i am very happy to read first comment by mintblue
He seems to share my views on interest.
The problem is with muslims ( by the way i am muslim too ) is we follow everything blindly with no logic .
But my problem is i have a brain and i like to use it. I am not a blind person who likes doing things because Allah has said or prophet has ordered. Getting a nominal interest should not cause any problem or does any damage to society. I live in Canada and do you expect me to put my money in a shoe box and burried in my backyard? does islam know anything about inflation? does it know that dollar today wont worth the same as two or more years down the road?
if we follow everything soo blindly , then why don't we let our daughters and sisters at age 12 marry an old man who is 56? prophet has done it hence it is permissible .. ofcourse we look the other way or make some stupid excuses as to why we shouldn't do it.

I know lot of so called muslims now will accuse me of kafir or some non muslim who is spreading this hatred. i am muslim by birth but never understood this religion islam. It is based on force, guilt trips, blind faith and always give you the illusion even if you do good deed but still "jannat" is not guranteed.
So i should spend my whole life to please Allah and still no guranteee if i will go to heaven?
we also like to segregate people muslims and rest of the world " kaafir". what other religion does that?

i do not know what true religion is.. i am more of a humanitarian , i believe in treating peple with repsect, not stealing , commiting adultery or other vices .
i am a CPA ( certified public accountant) from USA , now how the hell am i gonna explain this stupid concept of not giving or taking interest to my follow workers? any open minded person wanna have dialogue with me? my email is
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This post is blasphemous to say the least, not being a practicing Muslim is one problem but so blatantly ridiculing the teachings of Islam is deplorable.

You have to slay your ego to see through things.
If you place money and riches above Allah Almighty, then you are swaying from the right path. Sorry, if you might not like what I'm saying, but If you think then it is only for your own good.

Allah ap ko hidayat de. Ameen.
02-02-2011, 04:08 PM,
Hello all, I am Henty Davies. I am new here. I am fere to discuss about the wholesaling mobile phone business.
02-15-2011, 04:08 AM,
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by mintblue</i>
<br />hey all..
I dont seem to understand the fact that we are not supposed to charge interest in islam.why is it haram?the Quran says that "neither the lender nor the borrower is supposed to suffer in any way"the fact that inflation reduces the power of money and it is why we charge interest,so that the lender gets his value of money back not just the exact amount which he if we sort of like charge the same %of interest as inflation during that time then neither will suffer right?..nobody should be charged an unfair rate..that is why it was prohibited in the first place...cuz ppl were taken advantage of in their times of crises by ridiculously high interest rates attached to the loan..but something should be there to ensure that the lender doesnt suffer and he must get his real value of money back...
A lot of ppl are unwilling to lend...because they know that they wont get the same value of money back because they wont accept the interest due to it being declared haram...and a lot of borrowers are suffering because they dont get many lenders around who are working the islamic ways...they end up borrowing off banks n places where they havto pay the interest and that makes them immoral because its haram to pay the interest just like it is to recieve interest.(besides making the loan much more expensive than it should be)
i want to know why the maulwis dont look into this more seriously..and work out some way to solve this problem..there must be some solution to this...
Economists tried to work out an object that could be introduced into markets...this object would have a constant monetary value..this object's buying power does not change..for example we could have a coin...this coin costs $10 in yr2000 and $12 in yr2001, mr X lends one coin to mr Y in the yr2000...and he is paid back the coin in the year basically instead of being paid back the $10,hes paid back $12...without it being classified as interest(and therefore halal).so mr X gets his real value of money back...and not less.and this coin's buying power does not stays the same...the same things could be bought with this coin in 2000 as in maybe the maulwis should pay more attention to these economist solutions and try work something would help the islamic society pretty much i also like to know how the islamic banking system works.
im very new to this and hav only done alevels,ive juss entered maybe im wrong in a lot of concepts arent that clear yet...but this interest thing bugs me quite id like to know wat others hav to say abt it..and whether there are some things happening to help the islamists which i dont know abt.
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salam to all members.
Dear mintblue

my point of view is very simple you can not use money as a commodity (in lending etc) n thats all. using money as a commodity develops the concept of Interest/Riba.
03-04-2011, 06:14 AM,
Hey guys


If you people are really interested to know about the legitimacy of interest and concept of money in Islam, and all about finance and economics in Quraan and Islam then here is the basic dose for u..if u like it then i ll be happy to share more books on the subject.
kindly don't believe blindly on people like molvies etc. Try to do reearch on ur own..listen the views of various religious scholars. try to read the quraan with translation and interpretations, as many time as u can with questioning mind..believe me u will get the answers of all ur questions..
here is the link to a book from renowned scholar molana Imran N. Hosein. this book is based on historical facts and Quranic the book and start doing research...cheers

05-11-2011, 01:25 AM,
I understand that you are baffled by this. Try to understand that, islamic laws came in to effect long before our current economic system. Barter system was the system that our Prophet Mohammad PBUH used to trade under which is completely legal under Shariah Laws. Money was made not to be a commodity but merely to represent value. Islam also demands the same thing from money and any other thing which could be used as a replacement. When you borrow money from a bank, they charge you interest like lending you the money for rent. Sadly as things got more complicated, and people started marking things as there own and later borders were drawn, trade became necessary. Later, as some countries got more power and others got less, they wanted the system tailored to suit things according to them and hence every country got there own currency. Later, Interest rate started to play its role in a lot of things and ALLHMDULILLAH our Islamic Laws are so true, that they were completely right about the interest rate being haram. You see, through time the Interest rate has created more problems and confusions than most instruments in the financial world, and being the integral element in almost all valuations it is a nuisance. As new IFRS's and IAS's persevere to make accounting and finance fair, they are merely struggling and fooling themselves into believing that they are actually succeeding. Try to understand money and the system and you will get your answer how lucky you are if you follow the QURAN. Everything ISLAM tells us has a reason.
07-09-2011, 08:19 PM,
our molvies should do some ijtihad on it bec it is mind and any type of question can arise in it. we have to find answer for it. because by just stopping thinking can not civilized us. if a non muslim ask from us that why islam call interest HARAM then what will be our answer?
08-17-2011, 08:58 AM,
in islam you pay zakat on your savings, and no charges, levy etc on your expenditures, now you get interest on your saving and pay no zakat and pay taxes on your expenditure.
conventional banking system is a curse and it is the breed of YAHODES. we should promote islamic banking so curse of interest can be removed. people thinks interest is still being used in islamic banking with different name, it is not like that, islamic banking mostly deals in profit and loss basis
10-15-2011, 01:18 AM,

Assalam O Alaikum

I have a confusion about the pure concept of sood in islam with respect to our current economical and social surroundings. I can explain my question -

Question # 1

I live in Canada, where I pay around $1000 for the rent of my appartment and I cannot save money to purchase my own house because at the end of the month I dont have enough money to save. I have three options

1. I will live in this appartment as long as I am alive, but this appartment can never be mine.

2. There is an Islamic Association Name Isna ( http// ) who gives money to purchase home how that works is as under -

Suppose if you want to buy a home whos value is $200,000/- you must have to pay 30% of the total amount. After that their experts will come and check the rent value of the home (home rent is always expensive) and suppose the rent value is $1200/- then 70% of the rent I will have to pay them monthly as long as I won't get the 100% shares of the Home. if something need to be replaced in the house or broken/damaged and all utilities bills and taxex (around monthly $550/-) I will have pay from my pocket. Since I am paying the rent not interest but I evaluated the percentage of the total amount I would approx need to pay for $200,000/- Home value in Seventeen-(17) years is around $301,515 including rent but excluding taxes & utilitise, which is almost 50% extra the amount of the house. Is it not sood?

3. Bank is giving me Mortgage on 2% annual interest on remaning amount, and if I would paid off all the amount within 17 years I would need to pay approx. 255,543/- dollors, which is comparatively less from the Isna.

I need your help to understand the right path according to Islam. Is it right that what Isna is doing or what other options I have in Islam in this situation. Is there any organization in Islam who provides loan without interest? If not then who is responsible for this?

My Following question is also related to the above question-

Question # 2

There is a rich man. He is a father of two children(2 sons). His wife had already passed away(died). After his death his children gets their share accordingly(as per islamic rules). Suppose his both sons get an equal amount of Rs 5 million each. The 1st Person(1st son) utilize that amount by making a house and after that gives it on monthly rent to some tenant, and he gets some amount as rent on monthly basis. He visualizes that he will get his amount of 5 million back in certain time period and after that the rent will become the profit.

At the same time his 2nd son utilize that amount by giving that to a person who is a businessman, and that businessman requires money for his business as working capital so he borrows that 5 million from the 2nd son, and agreed to pay it back in 2 years by paying in monthly installments and they also agreed that the borrower will pay him back a sum of Rs. 5.5 million or 6 million.

The 2nd son also thought that the person whom he had lent an amount will pay him back within a period of 2 years and he will get 0.5 million as profit.

The amount above the actual borrowed amount is

The Both sons of that rich man, thought in different ways and started earning money.


The 1st son gets a monthly rent on the house he has made of Rs 5mn nad the 2nd son gets a monthly installment on the 5 mn. Is this amount will be called as sood??

Or it is just a jugglery of words between monthly rent and monthly installment???

Matlab yeh ke aik banda kch raqam se ghar banata hai aur us ko rent(Karaye) pe deta ha aur apni marzi ka rent leta hai ya jo market me chal rah ho. aur us pe monthly rent ke tor pe kch raqam ajati hai. aur doosra banda usi raqam se ghar banay ke bajaye us raqam ko ksi aisay banday ko udhar de deta ha is niyat se k wo yeh raqam wapis karey ga aur phir us se monthly kch amount wapis leta retha yeh sood hogya...Shariyat is silsilay me kia hukam deti hai?? Islam aik logical mazhab hai.

Please state your answer in very clear words.


10-23-2011, 03:24 PM,
Answer Question no 02

Sir, First son ne rent per dia hai sir ab us ko monthly rent mill raha hai....wo Halal hai.....per sir mein knowledge ke liye ek baat bata deta hoon.....aam tor per yeh late payment per jo additional charge kia jata hai.....wo sood / interest hai.(jo ke kam hi dikhai deta hai) per yeh as an information hai.
(sir yeh simple rent answer hai is ko first question se na milaye ga...kyon ke wo purchase home ka mamla hai)

sir, second liye wo izafi rakam sood ho jaye gi.....kyon ke wo invest nahi kar raha loan de raha hai...aur particular period ke baad us ko additional amount miley ke us ke liye sood ho jaye ga..ek possibility hai ke agar invest ker raha hota to profit and loss ki bunyad to halal ho sakta hai....

Hope sir ap ko answer sahih mill gaya ho.....please every person reply i am wrong.....

03-04-2015, 04:10 PM,
RE: interest and islam
Interest is haram because:
Islam says that one should not get any income without effort.
And in case of interest it is simply the extra money that we get without effort.
That is why it is haram.

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