Distance between Trade and Riba According to Quran
Historical and archeological studies show that the invention and circulation of money was the start of the phenomenon of usury. Riba or usury means giving something as a loan to someone and asking for more in return.
While correct economic interactions in a society would lead to the society’s cultural growth, Riba established injustice.
Based on the verses of the Holy Quran and Hadiths, Muslim scholars consider Riba to be Haram (religiously forbidden). It has been emphasized in Islamic texts that the reason for this ban is fighting injustice on eth one hand and promoting good social deeds such as giving loans to those in need on the other.
Riba has been described as an improper act in other Abrahamic religions as well but some followers of those faiths have ignored these teachings.
The Holy Quran says in verse 275 of Surah Al-Baqarah: “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.”
Allameh Tabatabaei in his Al-Mizan Exegesis of the Quran has raised the question of Riba, saying why God considers it so bad and abhorrent.
Allameh Tabatabaei says it is because the outcome of Riba is such that it causes financially weak people to lose all their capital and their life to be destroyed.
In view of the Holy Quran, trading and financial interaction is ok but Riba, as a destructive moral, psychological and economic phenomenon and an obstacle to humanity’s growth is Haram and is considered as an act of war against God.
A look at today’s economies that are based on Riba interactions show examples of economic disorder or even economic collapse in such economies.
Growing discrimination and class gap in society, undermining the culture of working and making efforts and disruption of the process of just and fair distribution of wealth in society are among the ominous results of usury.
