Usury – Exploiting Others For Profit results in making life difficult for all and, it does not result in self contentment and most importantly, it leads to disbelief.
With the name of Allah most Beneficient ever Merciful
What we today know as interest, was once known as usury. Just as words such as ‘gay’, ‘pre-owned cars’, ‘sex workers’ etc. are used to portray a better image of the same act or thing, so too, was the word usury changed to interest.
The word usury, however, depicts the act far more accurately than the word interest because usury, is the act of using a person’s weak situation to capitalise on or to take advantage of him or to use deception or to manipulate the market for monetary gains.
Usury is one of the seven major sins and it is akin to adultery, gambling and alcohol use. ‘Riba’ (usury) is so serious that
“the Messenger of Allah ﷺ said, Riba is seventy types, the least of which is equal to one having sexual intercourse with his mother.” Ibn Khatir p676.
“And be afraid of the Day when you shall be brought back to Allah. (Al Quran 2:281) was the last verse to be revealed from the Qur’an and just prior to this, the Ayahs about usury were also revealed. Ibn Katir page 70
‘Riba’ therefore actually refers to a whole range of poor business practises such as bribery (Abu Daud Book 23, Number 3534), bidding against someone else (auction) to raise the price of goods (Sahih Muslim Bk 32, Number 6219), falsely vowing that you were offered a certain price from someone
else in order to sell your goods to him (Bukarie Volume 3, Book 48, Number 841), using devious ways to usurp the inheritance of a minor orphan under your guardianship (Al Quran 4:10), selling goods that you have yet to take possession off and taking advantage of a person that is in a predicament: basically, to “illegally acquire people’s money, using various evil methods and wicked ways.” Ibn Katir P 672.
“Do not appropriate one another’s property with inequity (and by false means) nor seek to gain access thereby to the authorities so that you may appropriate a portion of (other) people’s property by sinful means (bribery) and that (too) knowingly (that you have no right to do so).” AL Quran 2:188.
Basically, usury is any form of transaction where one person has the upper hand over the other and he uses this advantage to his favour to make money.
Although the Holy Prophet ﷺ discussed many different types of usury he did not put a cap to it but instead left it open. Umar bin Al-Khattab (RA), said, “I wished that the Messenger of Allah had made three matters clearer for us…and some types of Riba.” Ibn Khatir P675.
Today we can appreciate why the Holy Prophet ﷺ did not put a limit to the types of usury because people would always come up with new ways to exploit people such as purposely making cars and appliances to break down so that they would have to buy parts which would help the manufactures to make more money by selling spares.
Today we also have the international business cooperates that use this ten percent compounded inflation rate to make money at the expense of people.
In our community we have wealthy people that buy off sheep during qurbani or accommodation or air tickets during hajj to gain monopoly and sell them off again at a higher price thus causing an inflation of prices at these times when they know for certain that people would pay the price.
The following is an extract from the notes to the section on business practises in Sahih Muslim.
“Islam does not believe in the view that all is fair in business and that every kind of cleverness and deceit is justifiable in business transactions. Islam regards business or commerce as an economic activity to be carried on in a spirit of humanity and justice. It does not approve of the cut-throat competition. Indeed, the very concept is un-Islamic. Islam expects the buyer and the seller to look upon each other as Muslim brethren or fellow human beings, each trying to help and serve the other.”
“If we try to comprehend the exact implications of the term Haram (unlawful) we can form an idea of the high standard of morality on which Islam wants us to conduct our business. And, if business is conducted strictly in accordance with the Islamic principles of commerce, there can be absolutely no scope for any kind of commercial dishonesty varying from the simplest and most glaring type of business fraud to the most cunning and subtle type of profiteering which is often masked under a semblance of honesty. Islam is most vehement in its condemnation of commercial dishonesty. It is denounced, in the strongest possible terms, all sorts of deceitful dealings and illegal profits. It has disallowed all transactions not based upon justice and fair play.
The Holy Prophet (may peace be upon him), while reprimanding the dishonest dealer, said: “Laisa minna man gashshdna” (Whosoever deceives us is not one of us).”
A safe way of saving ourselves from usury is to adopt an attitude of caring for others and striving towards making things easy for others instead of striving only to make more money and become rich.
The benefits of living without usury. Islam teaches us to be kind and good and to work towards a healthy society where everyone lives in peace and happiness. It encourages us to give charity instead of using devious ways to make more money.
“Allah annuls usury (and interest) and promotes charity…” Al Quran 2:276
If we have money, we should strive to uplift our community by building affordable houses or flats for the less fortunate instead of acquiring property to make more money in the form of exorbitant rent.
When we think too much on investments then we sometimes lose our humanity to become money making machines and no matter how much we have, it will not be enough.
The Holy Prophet ﷺ lived to serve others and this is the type of attitude that we should adopt. Abu Huraira (RA) reported Allah’s Messenger (may peace be upon him) as saying: Don’t nurse grudge and don’t bid him out for raising the price and don’t nurse aversion or enmity and don’t enter into a transaction when the others have entered into that transaction and be as fellow brothers and servants of Allah. A Muslim is the brother of a Muslim. He neither oppresses him nor humiliates him nor looks down upon him. The piety is here, (and while saying so) he pointed towards his chest thrice. It is a serious evil for a Muslim that he should look down upon his brother Muslim. All things of a Muslim are inviolable for his brother in faith: his blood, his wealth and his honour. Sahih Muslim Bk 32, Number 6219
The capitalistic system of the world today encourages and promotes ruthless business practises which are making life difficult for all in the long term. Apart from making daily life difficult such an outlook has led to mass oppression in the form of colonialism, wars, covert operations etc. We need to be careful that we do not end up being greedy, ruthless people that cause pain to others instead of bringing joy & happiness to others.
“And, O my people, give full measure and weight justly, and defraud not men of their things, and act not corruptly in the land making mischief. What remains with Allah is better for you, if you are believers” Al Quran 11: 85.
Peace and salutations be upon Allah’s Messengers who are responsible for guiding humanity throughout time. Ameen.
Published by Anjuman e Waris e Mohammedi in 2017.
The Anjuman e Waris e Mohammedi was founded by Dr/Hakim Hazrath Khwaja Sayed Shareef Ahmed Ali Shah RA (lovingly known as Hazrath Poona Wale Shah Saab RA).
Author: Mohamed Hassan Gaffoor WhatsApp; +27 84 910 1486