Actual reason why interest is haram?
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strivingobserver98
If you can read this please remember me in your du
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Read the negative effects it has on society by Mufi Taqi Usmani:
http://www.islamic-banking.com/iarticles_9.aspx
http://www.islamic-banking.com/iarticles_9.aspx
Yeah someone needs to explain islamic banking to me.
Also student loans work on inflation.. Also specifically mentioned in the Quran, Inflation not student loans.
I have no historical knowledge of who was spoken against, bankers..loan sharks or businessmen.
Although usery is not the same as profit.
Also student loans work on inflation.. Also specifically mentioned in the Quran, Inflation not student loans.
I have no historical knowledge of who was spoken against, bankers..loan sharks or businessmen.
Although usery is not the same as profit.
Abz2000
Abz Iz Back!!!
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Allah knows best the exact details, the task of humans is to try to understand the revelation and interpret it with full sincerity seeking what Allah wants from them, and to keep increasing in knowledge and wisdom.
riba which is haraam(illegal) is usually understood to mean demanding increase on a loan.
if you give a weight of grain or metal on loan (deferred payment) you should expect the same weight and quality back.
developed property such as houses, ships, tools etc i have come to learn is investment, and rent is chargeable, these are not currency like gold, silver etc, demand for such developed property is very different to items used as currency.
wear and tear for developed property is chargeable if clarified during contract.
if you invest lawful money in trade with good will, the value of the investment is converted into the item(s) of trade, you expect the profit or loss from your percentage/stake in the investment.
There are many methods of deceiving oneself or other people but none for deceiving Allah Who does the real and most accurate accounting and judging.
Allah knows the mufsid(corrupt/wrongdoer) from the muslih(sincere good-doer).
inflation is a problem of unbacked promissory notes which it is haraam to impose upon people anyway.
riba which is haraam(illegal) is usually understood to mean demanding increase on a loan.
if you give a weight of grain or metal on loan (deferred payment) you should expect the same weight and quality back.
developed property such as houses, ships, tools etc i have come to learn is investment, and rent is chargeable, these are not currency like gold, silver etc, demand for such developed property is very different to items used as currency.
wear and tear for developed property is chargeable if clarified during contract.
if you invest lawful money in trade with good will, the value of the investment is converted into the item(s) of trade, you expect the profit or loss from your percentage/stake in the investment.
There are many methods of deceiving oneself or other people but none for deceiving Allah Who does the real and most accurate accounting and judging.
Allah knows the mufsid(corrupt/wrongdoer) from the muslih(sincere good-doer).
inflation is a problem of unbacked promissory notes which it is haraam to impose upon people anyway.
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