Back when Quran came out 1400 years ago, times were different. In Islam, as a Muslim the first thing that remarkably made me question a bit, is the theory on paying or receiving interest. In the modern times, I feel it is an impractical thing nowadays. I understand why it is bad to ask for interest, but the theory on paying it is very very complicated to digest. This restricts us from buying say said house. In the modern days of course times are different and God almighty, Allah SWT, did know the future. Aren't we still making people rich if we do not pay interest, they ask us for huge rates for rents of a house and at the end of the day you do not even own the set house. The problem in my mind occurs when someone lives in the said house for so many years that if they paid all this as a loan they'd own the house now. Aren't we just allowing the house owner to completely benefit from us instead of a fair trade? That is my first point. What do you guys think? I am aware that Islam is the absolute right faith, but this thing bugs me a bit.
Re: Paying Interest Is A Major Sin In Islam. What is your view on this in the recent
Assalamualaikum
There is lot of difference between Interest & Rent.
Interest is paid on amount. Even, today people charge high rate of interest on amount and collect it form poor people. I know few cases, where poor people are paying upto 20% interest per month. And spending rest of their life, just paying interest. That is why it is made haram.
Rent is paid to the owner of the property. He has worked hard to earn the property. Trading is done by buying and selling. Renting is totally a different concept. If you want to buy the property, you can make a deal with the owner that you would pay such and such amount in two years and then take total possession of the property. But thinking that by paying rent, you are actually doing a favor to building owner is not just ridiculous but also a sin.
Interest, Selling & Renting are clearly defined in Islam.
Re: Paying Interest Is A Major Sin In Islam. What is your view on this in the recent
format_quote Originally Posted by wiomuslims
Assalamualaikum
There is lot of difference between Interest & Rent.
Interest is paid on amount. Even, today people charge high rate of interest on amount and collect it form poor people. I know few cases, where poor people are paying upto 20% interest per month. And spending rest of their life, just paying interest. That is why it is made haram.
Rent is paid to the owner of the property. He has worked hard to earn the property. Trading is done by buying and selling. Renting is totally a different concept. If you want to buy the property, you can make a deal with the owner that you would pay such and such amount in two years and then take total possession of the property. But thinking that by paying rent, you are actually doing a favor to building owner is not just ridiculous but also a sin.
Interest, Selling & Renting are clearly defined in Islam.
But thinking that by paying rent, you are actually doing a favor to building owner is not just ridiculous but also a sin.
I had a thief once, came into the shop and walked off without paying. I thought he went to get money from the car but his driver drove off.. I rang my brother and he came within minutes.
The same car, drove past literally a few minutes later. We gave chase. we told them to pull over.. Suprised to see the driver was a local lady.
He got out of the car and she drove off and left him there.
...all we ended up doing was talking to him and even ended up dropping him off to where he wanted to go.
He actually said amongst other things that I must have been doing something wrong for him to even turn up at my shop.
...those few years were a cruel lesson for myself really. How small the world can be and how peoples minds work.
Yes I am stupid, didn't have it in me to correct him.
Re: Paying Interest Is A Major Sin In Islam. What is your view on this in the recent
As Muslims, our views should never change in regards to the things which are explicitly stated as halal or haram. When it comes to usury, Muslims are not the only ones who see the bad in it. Usury has been condemned by many different groups of people throughout history. There is no good in it. In regards to today, yes, its more prevalent and it is not just loan based. Everyone will have to evaluate their own lives and see what works for them as well as how it applies to their geographic location in terms of whether there are systems that can support a non interest based way of living. It's important to explore all our options as well as make changes within our own lives in order to implement them.
For example, in the US, there are lots of states where land is cheap. People can buy land for cheap and live on that land. You can have a camper style house, cabin, tent, or whatever it is. There's a lack of convenience in it but at least you would not have to pay spend the next 20-30+ years trying to pay it off. Not all of these places are out in the mountains in the middle of no where. Many of these places are close to towns/cities that have the basic necessities. You can also become more self sufficient and provide for yourself by living off the land (small scale farming).
There's also the option of "rent-to-own". You pay rent at a fixed amount until you pay off whatever the agreed amount is. There may be some limitations on this in regards to interest though. Generally, if you miss a payment(s), there might be some interest involved. This might sound like an obvious, but for legal reasons, it's always important to go through and understand the paperwork whenever you get involved in this. Verbal agreements do not hold up in court and if you are allowed to miss x amount of payments interest fee because the property owner said so, they may change their mind later on.
Even if you go the rent only route, that's still better. You may never "own" the property, but there are some conveniences that can come with that. You can do short or long term leases which means you can stay for as long as its convenient to you. Building maintenance and other amenities are typically provided. While renting, you can slowly put money to the side until you have enough money saved up for a cheap house somewhere or have enough to cover for a larger down payment. With enough cash on hand, you could make agreements with a home seller that you offer the large sum of cash as a down payment and then do "rent-to-own" the rest of the way there. That's probably less likely to happen in most larger sized areas here, but I wouldn't completely rule that out.
Re: Paying Interest Is A Major Sin In Islam. What is your view on this in the recent
format_quote Originally Posted by M.I.A.
I had a thief once, came into the shop and walked off without paying. I thought he went to get money from the car but his driver drove off.. I rang my brother and he came within minutes.
The same car, drove past literally a few minutes later. We gave chase. we told them to pull over.. Suprised to see the driver was a local lady.
He got out of the car and she drove off and left him there.
...all we ended up doing was talking to him and even ended up dropping him off to where he wanted to go.
He actually said amongst other things that I must have been doing something wrong for him to even turn up at my shop.
...those few years were a cruel lesson for myself really. How small the world can be and how peoples minds work.
Yes I am stupid, didn't have it in me to correct him.
Re: Paying Interest Is A Major Sin In Islam. What is your view on this in the recent
Yes, seems good. I feel that there are more Islamic ways of handling this. Inshallah may Allah SWT give us enough wealth to buy our own cars and houses without the need of such dirty acts and to donate to charity and live a humble life. Ameen.
Hey there! Looks like you're enjoying the discussion, but you're not signed up for an account.
When you create an account, we remember exactly what you've read, so you always come right back where you left off. You also get notifications, here and via email, whenever new posts are made. And you can like posts and share your thoughts. Sign Up
Hide
Looks like you're enjoying the discussion, but you're not signed up for an account.
Bookmarks