When Allah talks about interest is it only haram to take interest such as you are forcing someone to pay you more than what you loaned them or is it also haram to be on the other side of interest where you are paying it because in this ayah of the Quran it says...
O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers.And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged. [Surat Al-Baqarah 2:278-279]
See the bolded part. It is interest that is due to you. So are things then like taking a mortgage or student loans with interest haram because in those cases you are not owed interest but you are paying it
Ahaadith Concerning InterestThese ahaadith have been taken from Mishkat-ul-Masabih under the section of interest and the English translation has been taken from its English version written by Al Hajj Moulana Fazl Karim (218-227 vol. II)
Hazrat Jabir radiyallahu anhu has reported that the Messenger of Allah sallallahu alaihe wasallm cursed the devourer of usury, its payer, its scribe and its two witnesses. He also said that they were equal (in sin).
(Muslim)
Hazrat Abu Hurairah radiyallahu anhu reported that the Holy Prophet sallallahu alaihe wasallm said: A time will certainly come over the people when none will remain who will not devour usury. If he does not devour it, its vapour will overtake him.
When Allah talks about interest is it only haram to take interest such as you are forcing someone to pay you more than what you loaned them or is it also haram to be on the other side of interest where you are paying it because in this ayah of the Quran it says...
O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers.And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged. [Surat Al-Baqarah 2:278-279]
See the bolded part. It is interest that is due to you. So are things then like taking a mortgage or student loans with interest haram because in those cases you are not owed interest but you are paying it
What is misleading sometimes are those words in brackets, although mostly they help in making it easier understood, sometimes they restrict the meaning when it did not say so.
Simply put in my understanding without the inserted 'due to you' it just means anything to do with interest. "What remains of interest.." does not mean what is the 'balance' of the interest sum but anything related to interest itself.
So, if the only way for us to get money is to be involved with paying interest, it means we cannot take it.
But as usual I rationalise... but I won't share for now..
As long as my heart does beat, I shall live, not lie
For when my heart does stop its beat, with truth, I die.
All types of interest, the Prophet PBUH said, the one who gives, the ones who takes, the one keeps record, the one who writes it down, all will burn in hell fire.
So all types of interest are Haram and it's extremely straightforward in Islam, there is simply no difference of opinion on this point. Hope this helps.
When you look at life from a different perspective; you'll realise, how blessed you are!
When Allah talks about interest is it only haram to take interest such as you are forcing someone to pay you more than what you loaned them or is it also haram to be on the other side of interest where you are paying it because in this ayah of the Quran it says...
O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers.And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged. [Surat Al-Baqarah 2:278-279]
See the bolded part. It is interest that is due to you. So are things then like taking a mortgage or student loans with interest haram because in those cases you are not owed interest but you are paying it
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