Definition of Interest (Ribā)

What is Interest?

Interest refers to a transaction where money is exchanged, but one party gains an additional benefit or surplus. Similarly, the profit or gain a lender acquires through a loan is also categorized as interest.What is Interest?

Islamic Ruling on Interest

Prohibition of Interest

Interest is definitively prohibited (harām qat‘ī) in Islam. A person knowingly involved in interest-based dealings is deemed a transgressor (fāsiq), and their testimony is considered invalid (mardūd al-shahāda).

Causes of Interest in Society

Reasons for Its Prevalence

Interest flourishes in our communities for several reasons, primarily due to a lack of basic Islamic education. Without consulting Islamic scholars (ulema), many people unknowingly engage in transactions involving interest.

Role of Greed and Love for Wealth

Even those aware of its prohibition often persist due to greed and an overpowering love for wealth, which blinds them to the distinction between halal and haram.

Condemnation in the Quran and Sunnah

Quranic Verse on Interest

Interest-based dealings are severely condemned in both the Quran and the Sunnah. Allah Almighty states in the Quran:

“Those who consume usury (interest) will not stand up on the Day of Judgement but stand like the one who is possessed by an evil spirit making him insane.” (Surah Al-Baqarah: 275)

Selected Hadith on Interest

Avoiding the Seven Destructive Sins

1. The Prophet Muhammad (peace and blessings be upon him) said:
   “Avoid the seven destructive sins.” The Companions asked, “What are they?” He replied:
   • Associating partners with Allah
   • Practicing magic
   • Taking an innocent life
   • Consuming interest
   • Usurping an orphan’s wealth
   • Fleeing from the battlefield
   • Falsely accusing chaste, believing women. (Bukhari, Muslim)

Cursing Those Involved in Interest

2. Sayyiduna Jabir (may Allah be pleased with him) narrated:
   “The Prophet (peace and blessings be upon him) cursed the one who consumes interest, the one who gives it, the one who records it, and its witnesses, saying, ‘They are all equal.’” (Muslim)

Vision of Interest Consumers

3. The Prophet (peace and blessings be upon him) described a vision during the Night of Ascension:
   “I passed by people whose stomachs were like houses containing snakes visible from outside. I asked, ‘Jibril, who are they?’ He replied, ‘They are those who consumed interest.’” (Ibn Majah)

Severity of Interest’s Sin

4. He also said:
   “Interest has seventy levels of sin, the least of which is equivalent to a man committing adultery with his mother.” (Ibn Majah)

Interest and Insanity

5. Furthermore, he warned:
   “In any nation where interest becomes widespread, insanity also becomes prevalent.” (Ahmad)

Modern-Day Examples of Interest

Common Scenarios

• Buying or selling items in instalments with a penalty for late payments.
• Charging an additional price on instalments if specified separately as profit (though permissible if included in the total price).

Signing Interest-Based Documents

• Signing documents with interest-based conditions, even if deemed a formality, as it indicates agreement with usurious terms.

Seeking Shar‘i Guidance

Importance of Consulting Scholars

To avoid falling into the calamity of usury, one must consult qualified Islamic scholars or muftis for guidance in financial matters. This ensures adherence to Islamic principles and protection from sin.

Judgment Day Hadith

A Dua for Protection

Praying for Safety

May Allah Almighty safeguard us from all forms of interest and usury-based dealings, and guide us toward halal sustenance. Ameen.

The Profound Teachings of Hujjat-ul-Islam, Imam Muhammad Bin Muhammad Ghazali رَحْمَۃُ اللہِ تَعَالٰی عَلَیْہِ

Imam Muhammad Bin Muhammad Ghazali رَحْمَۃُ اللہِ تَعَالٰی عَلَیْہِ has eloquently emphasized the significance of Judgement Day, as described in the Holy Quran. Allah Almighty has highlighted its events and bestowed it with numerous names, each carrying profound meanings. These names are not mere titles but are intended as a profound warning for those who reflect, with a secret wisdom underlying each name and characteristic. As believers, we are urged to delve into the knowledge and recognition of these meanings. (Ihya-ul-‘Uloom-id-Deen, vol. 5, pp. 275)

Exploring 41 Names of Judgement Day and Their Meanings

1. یَوْمُ الْاٰزِفَةِ (The Day That Is Coming Soon)

The Day of Judgement is imminent because anything certain to occur is considered near.

2. یَوْمُ الْوَعِیْدِ (The Day of Warning)

This name emphasizes the warning of torment given in this world.

3. یَوْمُ الْبَعْثِ (The Day of Resurrection)

On this day, Allah Almighty will resurrect all beings.

4. یَوْمُ الْخُرُوْجِ (The Day of Emergence)

People will rise from their graves on this day.

5. یَوْمُ الْجَمْع (The Day of Assembly)

Allah Almighty will gather all creation in the plain of Hashr.

6. یَوْمُ الْحَشْر (The Day of Gathering)

All beings will be brought together on this momentous day.

7. یَوْمِ مَشْهُوْد (The Day of Witnessing)

This day will witness the presence of all creation.

8. یَوْمُ الْحِسَابِ (The Day of Accountability)

On this day, everyone’s deeds will be accounted for.

9. یَوْمُ الدِّیْنِ (The Day of Justice)

This day signifies the return and justice for everyone’s deeds.

10. یَوْمِ عَظِیْم (The Great Day)

A day of immense terror, accountability, and reward.

11. یَوْمُ الْفَصْلِ (The Day of Decision)

It is the day of judgment and separation among people.

12. یَوْمِ عَقِیْمٌ (The Infertile Day)

There will be no goodness for disbelievers on this day.

13. یَوْمِ عَسِیْرٌ (The Tough Day)

This day will be exceedingly difficult for disbelievers.

14. یَوْمِ مُّحِیْطٌ (The Encompassing Day)

Sinners will be surrounded by torment.

15. یَوْمِ اَلِیْمٌ (The Painful Day)

Unbelievers and polytheists will suffer excruciating torment.

16. یَوْمِ كَبِیْرٍ (The Day of Great Toughness)

This day will bring immense hardship.

17. یَوْمُ الْحَسْرَةِ (The Day of Regret)

People will feel deep regret and shame on this day.

18. یَوْمُ التَّـلَاقْ (The Day of Meeting)

It will be a day of profound encounters—souls with bodies, people with their deeds, and oppressors with the oppressed.

19. یَوْمُ التَّغَابُنْ (The Day of Revelation)

Victory for the righteous and defeat for disbelievers will become apparent.

20. یَوْمُ الْغَاشِیَة (The Day of Overwhelming Calamity)

Calamities will engulf everything on this day.

21. اَلْحَاقَّة (The Certain Event)

This name underscores the certainty of the Day of Judgement.

22. اَلْقَارِعَة (The Day of Striking Calamity)

The terror of this day will shake hearts.

23. یَوْمُ الصَّاعِقَة (The Day of Unconsciousness)

The frightfulness will render all unconscious.

24. یَوْمُ الْاِنْشِقَاق (The Day of Splitting)

On this day, the sky will split apart.

25. یَوْمُ الْمَوْعُوْد (The Promised Day)

A promised gathering of all beings will take place.

26. یَوْمِ مَعْلُوْم (The Known Day)

All beings will be gathered on this predetermined day.

27. یَوْمُ النُّشُوْر (The Resurrection Day)

Bodies will rise from graves to face accountability.

28. یَوْمُ الْفِرَار (The Day of Escape)

People will flee from their loved ones due to fear.

29. یَوْمُ الْقَرَار (The Day of Settlement)

People will be destined for Paradise or Hell.

30. یَوْمُ الْجَزَاء (The Day of Recompense)

Rewards and punishments will be distributed.

31. یَوْمُ الْخلود (The Day of Eternity)

From this day forward, Paradise dwellers will live eternally.

32. یَوْمُ الْمَسَاق (The Day of Driving)

People will be led to the plain of Hashr.

33. یَوْمُ الرَّاجِفَة (The Day of Trembling)

A terrifying earthquake will mark the first blow of the trumpet