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Lesson Usury
The wisdom of Allah necessitated that usury be designated as one of the major sins in Islam. Likewise, it was forbidden to nations before us; because of the great devastation and calamity that befalls society and its individuals. Allah says: (For wrongdoing on the part of the Jews, We made unlawful for them [certain] good foods which had been lawful to them, and for their averting from the way of Allāh many [people]. And [for] their taking of usury while they had been forbidden from it, and their consuming of the people's wealth unjustly. And We have prepared for the disbelievers among them a painful punishment.)[An-Nisaa:160, 161]
The seriousness of usury is shown by the severe threat that is associated with it, Allah says: (O you who believe, fear Allah, and give up usury that is still due if you are truly believers. But if you do not do it, then beware of a declaration of war from Allah and His Messenger. However, if you repent, you may retain your capital – neither harming nor suffering harm. ).[Al-BAqarah;278,279] So Allah has forbidden usury and threatens the one who deals in it with war.
The Prophetﷺ reinforced the unlawful nature of usury as reported by Jabir (may Allah be pleased him) who said "The Messenger of Allah cursed the one who accepted usury, the one who paid it, the one who recorded it, and the two witnesses to it, saying they were all alike." (Muslim, 1598)
Definition of Usury
Definition of Usury
Types of Usury
Usury of Excess
The Usury of Delay
The Ruling of Usury
The Wisdom Behind its Prohibition
2- Preventing earnings without giving something in return: Islam regulates financial transactions in a way that helps achieve the interests of both parties.
3- Usury removes good among people: This is contrary to the purpose of Islam in spreading good and benevolence among them.
4- Prevention of Exploitation: The lender usually exploits the need of the borrower to whom he lends it with usury.
5- Preventing injustice: Usury is an injustice to one of the parties, and Allah forbids all forms of injustice.
Harms of Usury
1. Ethical and Spiritual Harms
Usury is a destructive element factor that ruins societies, as it makes them fragmented and disunited. In such societies, the strong eat the weak, and no one helps someone else except if there is a vested interest.
