The Importance of The Prohibition of Riba in Islam

• Main Author: Hossein, Imran N. (Author)
• Format: Book
• Language: English
• Published: New York Masjid Dar al-Qur'an 1997
• Series: Ansari memorial series
• Subjects: Materialism > Islam. > Religious aspects; Muslims > Conduct of life > Islam.
• Online Access: Click Here to View Status and Holdings.

 There is widespread ignorance amongst Muslims in this age concerning the subject of the prohibition of riba (interest) in Islam. And yet it appears to us from New York, the riba capital of the world, that there is, perhaps, no other subject more important than this to which Muslims should be directing urgent attention, for it is here that the fiercest attack of all has been launched by the enemies of Allah, subhanahu wa ta'ala. The widespread ignorance concerning the prohibition of riba is most certainly a confirmation of that sign of the 'Last Hour' spoken of by Prophet Muhammad, Salla Allahu ta'ala 'alayhi wa Sallam. Any attempt to demonstrate the importance of the prohibition of riba (interest) in Islam ought to be based upon the two basic sources of Islam, the word of Allah, subhanahu wa ta'ala, and the word of the Prophet, Salla Allahu ta'ala 'alayhi wa Sallam. The Prophet, Salla Allahu ta'ala 'alayhi wa Sallam, had, earlier in the day of Friday the 9th, of Dhu al-Hijjah 10 A.H., delivered the khutbah alwida' (final sermon) in which, among other things, he enforced the prohibition of riba retroactively. He thus completed the process of the total eradication of riba from the economy and society over which Islam exercised control. Then, at about the time of asr of that same day, Allah, subhanahu wa ta'ala, sent down the Revelation announcing the essential completion of the process of Revelation of Divine guidance to humanity: This day have those who disbelieve given up hope of (destroying) your Deen. So fear them not. Rather fear Me. This day have I perfected for you your Deen, and completed My favour unto you, and have chosen for you as your Deen al-Islam (i.e., submission to the Supreme Will of Allah).---[Al-Maa'ida 5:3]