Riba is an unlawful gain when one lends some money to another person and seeks more in return.
Riba is mentioned and condemned in several different verses in the Holy Quran. It is forbidden in Islam and considered a grave sin that brings about punishment in this world and the next.
Verse 130 of Surah Al Imran says: “Believers, do not accept illegal interest in order to increase your wealth many times over. Have fear of God so that you will have everlasting happiness.”
Also, verse 39 of Surah Ar-Rum is about usury: “That which you give in usury so that it increases in other people's wealth, will not increase with Allah; but the charity you give desiring the Face of Allah, to those, they shall be recompensed many times over.”
The Quran, in another verse, describes the fate of those who receive Riba: “Those who consume usury shall not rise up (from their tomb) except as he who rises in madness that satan has touched. That is because they say: ‘Selling is like usury.’ Allah has permitted trading and forbidden usury. To whomsoever an exhortation comes from his Lord then he desists, he shall have his past gains, and his matter is with Allah. But whoever reverts shall be among the people of the Fire and shall remain in it for ever.” (Surah Al-Baqarah, Verse 275)
According to the Quran, Riba is a source of ruin and those who consume usury cause imbalance in family and social life.