Dear Brothers and Sisters,
I would like to bring up a very important topic that’s slowly eroding the deen and akhirah of the people of our community and particularly that of the working professionals like us.
“Interest/ Riba/ Usury”
Interest is something that is known to anyone living in the modern world, it has become so completely institutionalized and accepted in today’s economies that it is almost impossible to stay away from paying or receiving interest.
Quarterly interest deposited by your bank in your Salary/Saving Account is one such source, though the amount is small, it still is categorised as interest. The same interest, for which Quran states; “O you who have believed, fear God and give up what remains of interest, if you should be believers. And if you do not, then be informed of a war from God and His Messenger.” (Quran 2:278)
Who in his right mind would expose himself to a declaration of war from God and His Messenger? Undoubtedly, a strong threat one will rarely find.
Allah hu Akbar!
It is a basic principle in Islam, if something is forbidden and wrong, a Muslim should not participate in it or support it in any fashion. Thus, since interest is forbidden, it is also forbidden to pay and receive interest, be a witness to such contracts, to record them and so on. The Prophet’s words also explain that there is no difference between the one who pays interest and the one who receives it. This is because they are both involved in a despicable practice and, hence, they are equally culpable.
My beloved brother in Islam, first and foremost one who believes in Allah and the Last Day, must immediately abstain and stop from dealing in any interest related activities. May Allah guide us!
Now the question arises what should one do with the interest money one has already accumulated in the past in ignorance of the Laws of Allah or is being accumulated with no authority over it e.g. Quarterly Interest Deposit in your Salary/Saving Account?
For the unlawful interest money that one has accumulated, the person has two choices:
One may leave it in the bank.
Or, one may take it and dispose it.
Some scholars are of the opinion that it does not help the cause of the believers to leave the interest in conventional banks for at best it helps them to generate more interest, and at worst, they may dispose it to an institution which might work against the Cause. In cases where one has already accumulated interest money in ignorance of Islamic Law, and Allah has guided them, and they now wish to dispose off that illegal money, the scholars are of the opinion that one may take this interest with the intention that he wants to rid himself of this evil thing, and give it away to some charity without seeking any reward from Allah for this spending. His only intention should be to get rid of this unwanted and illegal money, and thus purify himself from the evil of interest. The believer, who does this only because he fears the accounting of Allah on an Inevitable Day, will, if Allah Wills, be rewarded for keeping himself pure from the evils of interest.
Keeping this in mind, AMP is creating an awareness among our people about this issue and compelling people to check their accounts quarterly and giving this amount away in charity to AMP (account details are provided below for ready reference), this amount will be used by AMP for the education and employment of Muslim Youths.
So get rid of unlawful money and join the AMP movement!
|Account Name||Association of Muslim Professionals|
|Branch||Khar (W), Mumbai|
Note: If not AMP, please donate this amount to some other organization or a person in need and save yourself and your family from the fire of Hell!
Kindly pass on this message to as many Muslims as possible.
My name is Rahil. Though belonging to a very humble household where we could barely make ends meet I always had big aspirations. I am pursuing my B.E. in Mechanical Engg. from AIKTC School of Engineering and Technology, New Panvel. However like all good things, Education also comes with an ... Read more