Why is Interest such a bad thing according to Islam?
In Islam, interest, or usury (riba), is seen as a harmful practice for several reasons rooted in both ethical and social considerations. The Qur'an explicitly forbids usury, stating: 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.
2:275 This verse indicates that those who engage in usury are likened to those afflicted by madness, suggesting that such practices distort one's judgment and moral clarity.
Moreover, the Qur'an warns of severe consequences for those who persist in usury after being advised against it: 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.
2:279 This warning highlights the gravity of the sin and the potential for divine retribution, emphasizing that engaging in usury can lead to a state of enmity with God.
The ethical perspective on usury is further supported by the idea that it exploits the vulnerable. Instead of facilitating fair trade and mutual benefit, usury can lead to oppression and inequality, trapping individuals in cycles of debt. As such, Islam encourages economic practices that promote justice, fairness, and compassion among individuals.
Additionally, various hadiths reinforce the prohibition of usury. The Prophet Muhammad ﷺ stated that those who engage in usury are cursed, and this sentiment is echoed in multiple narrations, which emphasize the severe consequences of such actions in both this life and the Hereafter. Therefore, the prohibition of usury is rooted in a comprehensive vision of economic justice and moral integrity, aiming to foster a community where mutual support and fairness prevail.
Sources
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2:275 · Al-Baqara
2:275 · Muhammad Marmaduke Pickthall
ٱلَّذِينَ يَأْكُلُونَ ٱلرِّبَوٰا۟ لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ ٱلَّذِى يَتَخَبَّطُهُ ٱلشَّيْطَٰنُ مِنَ ٱلْمَسِّ ۚ ذَٰلِكَ بِأَنَّهُمْ قَالُوٓا۟ إِنَّمَا ٱلْبَيْعُ مِثْلُ ٱلرِّبَوٰا۟ ۗ وَأَحَلَّ ٱللَّهُ ٱلْبَيْعَ وَحَرَّمَ ٱلرِّبَوٰا۟ ۚ فَمَن جَآءَهُۥ مَوْعِظَةٌۭ مِّن رَّبِّهِۦ فَٱنتَهَىٰ فَلَهُۥ مَا سَلَفَ وَأَمْرُهُۥٓ إِلَى ٱللَّهِ ۖ وَمَنْ عَادَ فَأُو۟لَٰٓئِكَ أَصْحَٰبُ ٱلنَّارِ ۖ هُمْ فِيهَا خَٰلِدُونَ
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 rightful owners of the Fire. They will abide therein.
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2:279 · Al-Baqara
2:279 · Muhammad Marmaduke Pickthall
فَإِن لَّمْ تَفْعَلُوا۟ فَأْذَنُوا۟ بِحَرْبٍۢ مِّنَ ٱللَّهِ وَرَسُولِهِۦ ۖ وَإِن تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَٰلِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَ
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.
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