In the Name of Allah, the Gracious, the Merciful
Lie # 1: Interest, as such, Prohibited
1. The Qur'aan prohibits (verse 2.275) what it terms, in Arabic,
as Ar-Riba.
2. True to the divine claim in the Holy Book that everything is fully
explained therein itself (verses 10.37, 12.111, 17.89), Ar-Riba is
indeed defined in verse 30.39 of the Book.
3. In terms of the said verse 30.39, the divinely prohibited Ar-Riba
is the gain that is sought to be made by anyone, in any transaction, by usurping
what rightfully belongs to others.
4. It is a very wide-ranging definition covering all worldly transactions
among human beings. But to give one example, suppose I employ someone to
do a jobwork for me. If the just compensation for that jobwork is Rs.1000/-,
but I pay, say Rs.600/- only, then I am making an undue gain in my wealth
by usurping Rs.400/- that rightfully belongs to the jobworker. I am indulging
in Ar-Riba!
5. The divine injunction against Ar-Riba is the divine injunction
against all economic ills. But unfortunately, there is a widespread misunderstanding
of this divine injunction. And most of our Moulvis (Muslim religious leaders),
who never tire of declaring from their housetops that interest is haraam
(prohibited), are blissfully ignorant of the real divinely-prohibited
Ar-Riba growing luxuriantly in their own backyards.
6. Such Moulvis wrongly interpret Ar-Riba as Interest, such
as that the Banks give and take. Despite the categorical divine statement
in the Qur'aan, that everything is explained therein, the Moulvis blasphemously
say that Ar-Riba is not explained therein. They therefore give their
own man-made interpretation of Ar-Riba as Interest!
7. Interest, as such, being the pro-rata sum total of the expenses
incurred by the Banks plus their legitimate profit margin, is not
prohibited in the Qur'aan. The man-made interpretation of Ar-Riba
as Interest is therefore a lie concocted against Allah!