Scriptures and Ahadith on Riba

Ayahs in the Holy Quran on Riba:

 

ٱلَّذِينَ يَأۡڪُلُونَ ٱلرِّبَوٰاْ لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ ٱلَّذِى يَتَخَبَّطُهُ ٱلشَّيۡطَـٰنُ مِنَ ٱلۡمَسِّ‌ۚ ذَٲلِكَ بِأَنَّهُمۡ قَالُوٓاْ إِنَّمَا

ٱلۡبَيۡعُ مِثۡلُ ٱلرِّبَوٰاْ‌ۗ وَأَحَلَّ ٱللَّهُ ٱلۡبَيۡعَ وَحَرَّمَ ٱلرِّبَوٰاْ‌ۚ فَمَن جَآءَهُ ۥ مَوۡعِظَةٌ۬ مِّن رَّبِّهِۦ فَٱنتَهَىٰ فَلَهُ ۥ مَا سَلَفَ وَأَمۡرُهُ ۥۤ إِلَى

ٱللَّهِ‌ۖ وَمَنۡ عَادَ فَأُوْلَـٰٓٮِٕكَ أَصۡحَـٰبُ ٱلنَّارِ‌ۖ هُمۡ فِيہَا خَـٰلِدُونَ

(٢٧٥)

Translation:

       Those who swallow usury cannot rise up save as he ariseth whom the devil hath prostrated by (his) touch. That is because they say: Trade is just like usury; whereas Allah permitteth trading and forbiddeth usury. He unto whom an admonition from his Lord cometh, and (he) refraineth (in obedience thereto), he shall keep (the profits of) that which is past, and his affair (henceforth) is with Allah. As for him who returneth (to usury) – Such are rightful owners of the Fire. They will abide therein.

       (2 : 275)

 

 

فَإِن لَّمۡ تَفۡعَلُواْ فَأۡذَنُواْ بِحَرۡبٍ۬ مِّنَ ٱللَّهِ وَرَسُولِهِۦ‌ۖ وَإِن تُبۡتُمۡ فَلَڪُمۡ رُءُوسُ أَمۡوَٲلِڪُمۡ لَا تَظۡلِمُونَ وَلَا تُظۡلَمُونَ

(٢٧٩)

Translation:

       And if ye do not, then be warned of war (against you) from Allah and His messenger. And if ye repent, then ye have your principal (without interest). Wrong not, and ye shall not be wronged.

       (2 : 279)

 

يَمۡحَقُ ٱللَّهُ ٱلرِّبَوٰاْ وَيُرۡبِى ٱلصَّدَقَـٰتِ‌ۗ وَٱللَّهُ لَا يُحِبُّ كُلَّ كَفَّارٍ أَثِيمٍ

(٢٧٦)

Translation:

       Allah hath blighted usury and made almsgiving fruitful. Allah loveth not the impious and guilty.

(2 : 276)

 Quran translation into English by M. Marmaduke Pickthall

 

Ahadith on the Prohibition of Riba:

       Given below are few Hadith [sayings of our beloved Prophet Mohmammed (Peace Be Upon Him)] about the prohibition of RIBA in Islam:

Hadith-1:

Hazrat Jabir Ibn-e-Abdullah (RAA) has reported

the Prophet (PHUH) to have cursed those who charge interest, those who pay it, those who write documents pertaining thereto, those who keep the accounts of such matters and those who sign as witness. He (PBUH) said that they are all equal in this crime.

Hadith-2:

Hazrat Aun bin Juhaifah (RAA) reports on the authority of his father (RAA) that

the Prophet (PBUH) cursed the women who get themselves tattooed, those who perform this act, those who charge and pay interest. He (PBUH) stopped his (PBUH) followers from earnings obtained through the sale of dogs and the earnings of a prostitute. He (PBUH) has also cursed the artists.

This has been reported by Imam Bukhari and Abu Dawood.

Hadith-3:

Hazrat Abu Hurairah (RAA) has reported the Prophet (PBUH) to have said,

“Four categories of people are such that Allah has made it binding upon Himself to refuse them admission to the paradise or to let them enjoy is goodies. The first is the one who is a habitual drinker of alcoholic drinks. The second is the one who devours interest, the third is the one who devours the wealth belonging to an orphan, without any justification therefore, and the fourth is the one who is disobedient to his parents.”

This has been reported by Hakim on the authority of Ibrahim bin Khathim bin Irak and he (Ibrahim) reported it on the authority of his father (Khathim) and he

(Khathim) reported it on the authority of Hazrat Abu Hurairah (PBUH) Hakim has classified it as an authentic saying.

Hadith-4:

Hazrat Abdullah Ibn-e-Masood (RAA) has reported that the Prophet (PBUH) said,

“The ill affects of interest are of 73 kinds, the last intense of these is like someone committing adultery with his mother.”

This has been reported by Hakim and considered by him authentic based on the criteria laid down by Imam Bukhari and Imam Muslim.

Hadith-5:

It has been reported by Hazrat Hanzala bin Abdullah (RAA) that the Prophet (PBUH) said,

“Devouring a dirham of interest is worse than committing adultery 36 times, provided one is aware that he is utilizing money earned by way of interest”.

This saying has been reported by Imam Ahmed and Tibrani.

Hadith-6:

Hazrat Ibn-e-Masood (RAA) reporting a saying of the Prophet (PBUH) in which the Prophet (PBUH) said,

“When adultery and interest become common place in a people, then they have definitely asked for Allah’s punishment for themselves”.

Hadith-7:

It has been reported by Hazrat Amr bin Al Aas (RAA) that he heard the Prophet (PBUH) say,

“If interest based dealings become common among people, they surely start facing draught and shortage of food. And when bribery becomes a norm among a people, they live under constant fear of their enemy”.

Hadith-8:

According to Hazrat Abdullah bin Masood (RAA), the Prophet (PBUH) said,

“whoever earns money/wealth through interest would find it reduced in the end”.

This has been reported by Ibn-e-Majah and Hakim and they said that the reporting chain is authentic.

Hadith-9:

Hazrat Abu Hurairah (RAA) said that he heard the Prophet (PBUH) say,

“A time will come when, even if a person is able to abstain from interest, he would still be indirectly affected by its evil”.

Hadith-10:

It has been reported by Hazrat Ibada Bin Samit (RAA) that the Prophet (PBUH) said,

“By Him in whose authority my life is, some of my followers would spend their night in a state of pride, a false sense of greatness and self-conceit and in sports and pastime. In the morning they will be turned into monkeys and swines. This will befall them because they considered legitimate something, which was prohibited, employed women to sing, consumed liquor, devoured interest and wore fabrics made of silk.”

 

Quotes from the discussion on Riba in the Global Islamic Finance resources group of the LinkedIn:

“.. Even Old testament clearly forbids it – Deuteronomy 23:19, Psalms 15:1, 2, 5, Proverbs 28:8, Nehemiah 5:7, Ezekiel 18:8.9, Ezekiel 22:12 – all of these references suggest riba is forbidden. Although I am sure everyone (atleast I hope) is aware of prohibition of Interest in Quran but here are some references Al Baqarah 2:275-279, Al Imran 3:130, An-Nisa 4:161, Ar-Rum 30:39.”

“It is narrated in a hadith that Hazrath Bilal (R) one day served our Prophet (PuH) a very delicious quality dates, Prophet (PuH) liked the dates and asked HazrathBilalal where he brought it from. HazratBilai (R) replied him that he bartered it with a person in the market with 2 basket of ordinary dates with 1 basket of those dates. having heard of this deal Prophet (PuH) warned Hazrath Bilal not to do it again, because this comes under riba. He adviced him instead he should have sold those dates in the market and should have bought the other dates form the proceeds. This clearly shows that any thing transected in similar thing with an excess quantity comes under riba. I don’t know how people justify harm with halal. Let us not tread the path of ahliKithaab”.

“Interest has been prohibited in the 3 major religions of the world-Christianity,Judaism and as we all know ,Islam.It has been very aptly called the ‘Mother of All Evils’.I would like to share an incident on this from Islamic history:-“ 

” Imam al-Qurtubi mentions in his tafseer (al-Jami’ li-Ahkam al-Qur’an) that a man once saw a drunkard trying to fish the moon (yes, fish the moon) in the heavy drunken state that he was in. The man upon seeing such a despicable condition (and being so ghastly averse to it) made an oath declaring his wife divorced if there was ever anything to enter the belly of the son of Adam which was worse or more evil than alcohol. 

As oaths in matters of divorce are binding, he was told to seek a juristic ruling from Imam Malik who was in Madinah. The man came to Imam Malik and told him about his oath, seeking a fatwa from him; should he divorce his wife or not? Imam Malik told him to come back in three days while he looked into the matter. 

After the three days passed, the man returned to Imam Malik who then said to him (read carefully): 

امرأتكطالقإنيتصفحتكتاباللهفلمأرشيئًايدخلجوفابنآدمأخبثولاأشرمنالربا 

“Your wife is divorced. I searched and studied through the Book of Allah and I didn’t see anything enter the belly of the son of Adam worse or more evil than Riba (interest).” 

Ok, other than the lesson to never make such crazy oaths in the first place(!), this just further highlights the dangers and evil of interest. And here we are today surrounded by it, in every place. MayAllahsaveusfromit, ameen.”

“..If you have not already read the paper “Riba, Interest and Six Hadiths: Do We Have a Definition or a Conundrum?”, you are invited to read and share your thoughts. http://ssrn.com/abstract=1528770. Comments can also be emailed directly to farooqm59@yahoo.com.”

“All Muslims Scholars agreed that all kind of Usury are prohibited 
With This Video also some prominent non muslim figures like (Elizabeth Wareen) Prof at Harvard University judges Usury is Prohibited:

http://www.youtube.com/watch?v=vLZXe90etL4