"O ye who believe! fear God and relinquish what remains of interest, if you are believers. But if you do it not, then beware of war from God and His Messenger . . ."
Source/Credit: InForum
By Syed Sajid Ahmad | February 2, 2019
In today’s world, a significant portion of the earned wealth of people and their governments goes to payments toward interest on borrowed funds. Funds spent on interest by individuals and families could elevate their economic condition if they were available for commerce and public benefit.
Islam forbids interest. “O ye who believe! devour not interest involving diverse additions; and fear God that you may prosper.” (Holy Quran, 3:130/131) “Those who devour interest do not rise except as rises one whom Satan has smitten with insanity. That is because they say: ‘Trade also is like interest;’ whereas God has made trade lawful and made interest unlawful. So, he to whom an admonition comes from his Lord and he desists, then will that which he received in the past be his; and his affair is with God. And those who revert to it, they are the inmates of the Fire (economic problems); therein shall they abide. God will abolish interest and will cause charity to increase. And God loves not anyone who is a confirmed disbeliever and an arch-sinner… O ye who believe! fear God and relinquish what remains of interest, if you are believers. But if you do it not, then beware of war from God and His Messenger; and if you repent, then you shall have your original sums; thus, you shall not wrong, nor shall you be wronged” (2:276-280).
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