shbaziz
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Indulging in Riba (Interest, Usury) is among the biggest sins in Islam and has received the most strict warnings.
O ye who believe! Fear Allah and give up what remains of Riba, if you are truly believers. But if you do it not, then beware of war from Allah and His Messenger [Quran 2: 278]
It is such a big sin that Allah has declared war against those who practice it. Moreover, as Jews made it allowed for them to exploit non-Jews with Riba, while they kept it prohibited to practice interest among themselves (Jews), Allah gave a strict warning to them as well:
So, because of the transgression of the Jews, We forbade them pure things which had been allowed to them, and also because of their hindering many men from Allahs way. And because of their taking interest although they had been forbidden it, and because of their devouring peoples wealth wrongfully. And We have prepared for those of them, who disbelieve, a painful punishment. [Quran 4: 160-161]
Definition :
Any unjustified increment between the value of the goods given and the value of the goods received" It is the unjustified increment or decrement in the value of goods used during a transaction I ll explain the definition and its source with a few examples:
Islamic Concept of Money and the medium of transaction
A sahih hadith mentioned in both Sahih Bukhari and Sahih Muslim:
Bilal came to Prophet with with some dates: Prophet (SAAW) asked, where did you get them Bilal. He replied, I had two baskets of inferior quality date, so I exchanged those two baskets of dates of inferior quality with one basket of superior quality dates. Allahs messenger said, O! (This is) the essence of Riba, the essence of Riba, so do not do so. However, if you want to buy (a superior quality of dates), then sell (the inferior quality of dates) in another transaction and buy (the superior quality of dates) with its price.
"The Prophet forbade the selling of gold for gold and silver for silver except if they are equivalent in weight, and allowed us to sell gold for silver and vice versa as we wished." [Sahih Bukhari, The book of transactions]
On the other hand, Prophet allowed Ibn Umer to exchange one camel with four camels (Mauta Imaam Maalik)!! Why exchanging dates, gold and silver in unequal quantity was prohibited and exchange of 1 camel with four was allowed? If someone would ask this question a few centuries ago, even a Muslim kid would answer without any difficulty. But now, I assure you, even Muftis would struggle. Try asking some of them. Its a shame! its a shame!
In fact Gold, Silver, Wheat, Dates, Barley, Salt were used as money. They were monetized! Their unequal exchange is definitely Ribba, where as a cattle like a camel has never been used as money. This is illustrated in the following Hadith.
Abī Saīd al-Khudri reported Allahs Messenger as saying: Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, and salt for salt. (When a transaction is) like for like, payment being made on the spot, then if anyone gives more or asks for more, he has dealt in Riba. [Sahih Muslim]
So from these ahadith following points can be deduced:
Modern Monitory System: We are going through the darkest of ages!
Modern Banknotes, currency notes were first issued as the promissory notes in exchange for Gold. In the first quarter of 20th centuary, they were of fixed value. For example, you could give an ounce of Gold to Federal Reserve bank and get 20 US dollars. Whenever you wanted your gold back, you gave them back their receipts that is the currency notes and get your gold back. Those currency notes could be used as money also. So that seemed very harmless. But that was only the beginning of the grand design, that was the beginning of the worst slavery and the largest organized as well as legalized crimes. Had Muslims fulfilled their responsibility, they could have saved the world, no doubt, Allah punished Muslims the most as a result of this system. It was our responsibility, because we were given the knowledge. Thus we deserved the harshest of punishments.
No one else is worthy of being worshiped except You, our Lord! you are The Just. Verily, we are the Sinners, we are the Zalimoon.
In 1933, US govt ordered US citizen to handover all of their gold to the Federal Reserve Bank. Failing to do that, would inflict a fine of $10,000 and the culprit be jailed. Ordinary Americans could keep only some jewelry and things like that, but no coins and big collection. In January 1934 after they had confiscated all the gold, the price of Gold was increased from $20 to $35. With this single act they robbed Americans of half of their wealth! Do you know what is the price of Gold today? It is $1765 per ounce (On October 12, 2012). I hope you now understand, where does your hard-earned wealth go, when the currency is devalued. You earn some wealth, you keep it in your pocket, some of it is gone when currency is devalued. After some years it may completely lose its worth. But where does that wealth go? Have you ever wondered? The story does not end here!
In 1944 during United Nations Monetary and Financial Conference at Bretton Wood the next monitory system was defined (Bretton Wood System). From then onwards! No currency could be redeemed for Gold from the central bank except the US dollar. Moreover only governments could do that (ask US to give gold in return for US dollars)! Not every Tom Dick and Harry. Imagine the rise in menace. First, paper money founded the basis for this exploitation. Then Banks deprived citizen of their wealth as they could devalue the paper currency! And now, you cant even claim your gold back!
In 1971, US President Richard Nixon unilaterally cancelled Bretton Wood System and thus refused to give gold in exchange of dollars to GOVERNMENTS as well! This event is know as Nixon Shock. Because they had been cheating the whole world by printing dollars (receipts) for gold they didnt have. Thus they purchased oil and all what they needed in exchange for what? Yes, paper!
Believe me, this is not even an overview of calamities and disasters this paper money i.e., Riba has brought to humanity. Less than 1% of the world literally have enslaved others. According to their difinition, anyone who earns more than $1.25 a day is NOT poor! Even according to this standard, more than half of the world's population is poor. All of them struggling to make sure that they get their next meal!
No doubt! Allah has declared war against those involved in Riba. Time for you to decide which army to join?. To support riba, all you have to do is NOTHING. But remember victory belongs to Allah. For Gods sake! try to understand, whether Asif Zardari or Nawaz Sharif or Imran Khan! It makes no difference. Be Waliullah (an ally of Allah) or be the "greatest loser".
"Say, Shall We tell you about the greatest losers in respect of (their) deeds? Those are the ones whose effort in the worldly life has gone in vain, while they think they are doing good." [Quran: 18: 103-104]
They have been waging wars and trying to blow out the light of Allah with their mouths (Talking, demonizing, propaganda). All they can do is kill some Muslims and make some go astray. But Allah rejects anything short of making His light Perfect!
They wish to blow out the Light of Allah with their mouths, and Allah rejects everything short of making His light perfect, no matter how the disbelievers may hate it. He is the One who has sent His Messenger with guidance and the Faith of Truth, so that He makes it prevail over every faith, no matter how the Mushriks may hate it. [Quran 9: 32-33]
O ye who believe! Fear Allah and give up what remains of Riba, if you are truly believers. But if you do it not, then beware of war from Allah and His Messenger [Quran 2: 278]
It is such a big sin that Allah has declared war against those who practice it. Moreover, as Jews made it allowed for them to exploit non-Jews with Riba, while they kept it prohibited to practice interest among themselves (Jews), Allah gave a strict warning to them as well:
So, because of the transgression of the Jews, We forbade them pure things which had been allowed to them, and also because of their hindering many men from Allahs way. And because of their taking interest although they had been forbidden it, and because of their devouring peoples wealth wrongfully. And We have prepared for those of them, who disbelieve, a painful punishment. [Quran 4: 160-161]
Definition :
Any unjustified increment between the value of the goods given and the value of the goods received" It is the unjustified increment or decrement in the value of goods used during a transaction I ll explain the definition and its source with a few examples:
Islamic Concept of Money and the medium of transaction
A sahih hadith mentioned in both Sahih Bukhari and Sahih Muslim:
Bilal came to Prophet with with some dates: Prophet (SAAW) asked, where did you get them Bilal. He replied, I had two baskets of inferior quality date, so I exchanged those two baskets of dates of inferior quality with one basket of superior quality dates. Allahs messenger said, O! (This is) the essence of Riba, the essence of Riba, so do not do so. However, if you want to buy (a superior quality of dates), then sell (the inferior quality of dates) in another transaction and buy (the superior quality of dates) with its price.
"The Prophet forbade the selling of gold for gold and silver for silver except if they are equivalent in weight, and allowed us to sell gold for silver and vice versa as we wished." [Sahih Bukhari, The book of transactions]
On the other hand, Prophet allowed Ibn Umer to exchange one camel with four camels (Mauta Imaam Maalik)!! Why exchanging dates, gold and silver in unequal quantity was prohibited and exchange of 1 camel with four was allowed? If someone would ask this question a few centuries ago, even a Muslim kid would answer without any difficulty. But now, I assure you, even Muftis would struggle. Try asking some of them. Its a shame! its a shame!
In fact Gold, Silver, Wheat, Dates, Barley, Salt were used as money. They were monetized! Their unequal exchange is definitely Ribba, where as a cattle like a camel has never been used as money. This is illustrated in the following Hadith.
Abī Saīd al-Khudri reported Allahs Messenger as saying: Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, and salt for salt. (When a transaction is) like for like, payment being made on the spot, then if anyone gives more or asks for more, he has dealt in Riba. [Sahih Muslim]
So from these ahadith following points can be deduced:
- Money is either precious metals or commodities (in case there is a shortage of precious metals in the market).
- The commodities must be such that they could be preserved. In Bangladesh you could use rice as money instead of wheat, but you cannot use butter as money. Because butter cannot be preserved for long. That is why camel is not money, its life may end any time.
- Money must have intrinsic value. Whether precious metals or commodities, their value is inside them and not an arbitrary value assigned by a central bank.
- If you want to exchange gold for gold or silver for silver (same type of money), the payments must be made on spot, must be equal, both amounts must be present at the same time. You cannot have one of them absent and being financed by credit. It is haraam.
Modern Monitory System: We are going through the darkest of ages!
Modern Banknotes, currency notes were first issued as the promissory notes in exchange for Gold. In the first quarter of 20th centuary, they were of fixed value. For example, you could give an ounce of Gold to Federal Reserve bank and get 20 US dollars. Whenever you wanted your gold back, you gave them back their receipts that is the currency notes and get your gold back. Those currency notes could be used as money also. So that seemed very harmless. But that was only the beginning of the grand design, that was the beginning of the worst slavery and the largest organized as well as legalized crimes. Had Muslims fulfilled their responsibility, they could have saved the world, no doubt, Allah punished Muslims the most as a result of this system. It was our responsibility, because we were given the knowledge. Thus we deserved the harshest of punishments.
No one else is worthy of being worshiped except You, our Lord! you are The Just. Verily, we are the Sinners, we are the Zalimoon.
In 1933, US govt ordered US citizen to handover all of their gold to the Federal Reserve Bank. Failing to do that, would inflict a fine of $10,000 and the culprit be jailed. Ordinary Americans could keep only some jewelry and things like that, but no coins and big collection. In January 1934 after they had confiscated all the gold, the price of Gold was increased from $20 to $35. With this single act they robbed Americans of half of their wealth! Do you know what is the price of Gold today? It is $1765 per ounce (On October 12, 2012). I hope you now understand, where does your hard-earned wealth go, when the currency is devalued. You earn some wealth, you keep it in your pocket, some of it is gone when currency is devalued. After some years it may completely lose its worth. But where does that wealth go? Have you ever wondered? The story does not end here!
In 1944 during United Nations Monetary and Financial Conference at Bretton Wood the next monitory system was defined (Bretton Wood System). From then onwards! No currency could be redeemed for Gold from the central bank except the US dollar. Moreover only governments could do that (ask US to give gold in return for US dollars)! Not every Tom Dick and Harry. Imagine the rise in menace. First, paper money founded the basis for this exploitation. Then Banks deprived citizen of their wealth as they could devalue the paper currency! And now, you cant even claim your gold back!
In 1971, US President Richard Nixon unilaterally cancelled Bretton Wood System and thus refused to give gold in exchange of dollars to GOVERNMENTS as well! This event is know as Nixon Shock. Because they had been cheating the whole world by printing dollars (receipts) for gold they didnt have. Thus they purchased oil and all what they needed in exchange for what? Yes, paper!
Believe me, this is not even an overview of calamities and disasters this paper money i.e., Riba has brought to humanity. Less than 1% of the world literally have enslaved others. According to their difinition, anyone who earns more than $1.25 a day is NOT poor! Even according to this standard, more than half of the world's population is poor. All of them struggling to make sure that they get their next meal!
No doubt! Allah has declared war against those involved in Riba. Time for you to decide which army to join?. To support riba, all you have to do is NOTHING. But remember victory belongs to Allah. For Gods sake! try to understand, whether Asif Zardari or Nawaz Sharif or Imran Khan! It makes no difference. Be Waliullah (an ally of Allah) or be the "greatest loser".
"Say, Shall We tell you about the greatest losers in respect of (their) deeds? Those are the ones whose effort in the worldly life has gone in vain, while they think they are doing good." [Quran: 18: 103-104]
They have been waging wars and trying to blow out the light of Allah with their mouths (Talking, demonizing, propaganda). All they can do is kill some Muslims and make some go astray. But Allah rejects anything short of making His light Perfect!
They wish to blow out the Light of Allah with their mouths, and Allah rejects everything short of making His light perfect, no matter how the disbelievers may hate it. He is the One who has sent His Messenger with guidance and the Faith of Truth, so that He makes it prevail over every faith, no matter how the Mushriks may hate it. [Quran 9: 32-33]
