Interest, Interest, Money & BankingMoney & Banking

Issue to be discussedIssue to be discussed

Interest HARAM – clear ayat of Qur’an

Interest in a controlled environmentThe consequence of interest on the societyConclusion – is interest desirable ?Recent developments & the rise of Riba-

based intuitionsThe future of Riba . . .

What the Qur’an DECLARES (2:275): What the Qur’an DECLARES (2:275): Those who eat Ribâ (usury) will not stand (on the Day of

Resurrection)

except like the standing of a person beaten by Shaitân (Satan)

leading him to insanity.

That is because they say: "Trading is only like Ribâ (usury),"

whereas Allâh has permitted trading and forbidden Ribâ.

So whosoever receives an admonition from his Lord & stops eating Ribâ (usury) shall not be punished for the past; his case is for Allâh (to judge); but whoever returns (to Ribâ), such are the dwellers of the Fire – they will abide therein

forever.

Soorah Al-Baqarah Ayah # 276:Soorah Al-Baqarah Ayah # 276:

Allâh will destroy Ribâ (usury)

and will give increase for Sadaqât (deeds of charity, alms, etc.)

And Allâh likes not the disbelievers, sinners.

RIBA will be DESTROYED !!!!!!

Soorah Al-Baqarah Ayah # 277:Soorah Al-Baqarah Ayah # 277:

1. Truly those who believe, 2. and do deeds of righteousness, 3. and perform As-Salât, 4. and give Zakât,

they will have their reward with their Lord. On them shall be no fear, nor shall they grieve.

Soorah Al-Baqarah Ayah # 278:Soorah Al-Baqarah Ayah # 278:

O you who believe!

Be afraid of Allâh and give up what remains (due to you) from Ribâ (from now onward),

if you are (really) believers.

MUST give

up riba!

Soorah Al-Baqarah Ayah # 279:Soorah Al-Baqarah Ayah # 279:

And if you do not do it,

then take a notice of war from Allâh and His Messenger;

but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums),

and you shall not be dealt with unjustly (by receiving less than your capital sums).

Soorah Al-Baqarah Ayah # 280:Soorah Al-Baqarah Ayah # 280:

And if the debtor is in straitened circumstances,

then (let there be) postponement to (the time of) ease;

and that ye remit the debt as almsgiving would be better for you if ye did but know.

Soorah Al-Baqarah Ayah # 281:Soorah Al-Baqarah Ayah # 281:

And be afraid of the Day when you shall be brought back to Allâh.

Then every person shall be paid what he earned, and they shall not be dealt with unjustly.

Ahadeeth on RIBA:Ahadeeth on RIBA:Jabir (r) narrates that the prophet (s) cursed the receiver

and the payer of riba, the one who records it and the 2 witnesses to the transaction and said: “They are all alike” (Tirmidhi)

Abu Hurairah (r) narrates that the prophet (s) said: On the night of Ascension I came upon people whose

stomachs were like houses with snakes visible from the outside. I asked Gibril who they were. He replied that they were people who had received riba.” (Musnad Ahmed)

Abu Hurairah (r) narrates that the prophet (s) said: There will certainly come a time for humanity when

everyone will take riba and if he does not do so, its dust will reach him (Abu Dawoud)

Is RIBA Haram in IslamIs RIBA Haram in IslamIt is a serious kabair; if not left in hell-fire

forever

It is clearly haram in Qur’an & hadith

There is absolutely no difference amongst the Fuqahah on Riba

It is a sin in Judaism & Christianity

It is not considered a good practice in Hinduism, Buddhism, or Maoism

Consequence of RIBA in the HereafterConsequence of RIBA in the HereafterBarzakh: drowning in a pool of blood;

being fed thrown rock until Qimiyah;

Stomaches filled with snakes;

In hell-fire forever;

The Wrath of Allah & His Prophet forever

Cannot stand, beaten by worst enemy –Shaitan; in a state of maddness

Definition of RIBADefinition of RIBA

Is a Arabic word with means “extra”.

Any amount over and above the principle amount is RIBA.

Late/penalty fees is also RIBA.

What is the fundamental problem with RIBA ?

RIBA in a controlled environmentRIBA in a controlled environmentIndependent in 1948

Very simple life; no complications

Following a barter system

In the case study, all other economic variable have been removed

5 simple people – use barter system5 simple people – use barter system

Sajid FishAbid WoodNasir FruitsFurqan SaltSalman Entertainer

Not always happy, but cooperate together in barter system.

Each feels he is cheated, would like to change the system ?

Loaned money : solution to problem!Loaned money : solution to problem!One blessed day, Uncle Yahoodi, arrives with

the answer to their problem.

Loaned money, as aid, minimum interest; for the development of the society

Uncle Yahoodi ready of help out these people;

Loan taken – is this fair (halal) ?Loan taken – is this fair (halal) ?

Name Principle InterestSajid 1000 + 100Abid 1000 + 100Nasir 1000 + 100Furqan 1000 + 100Salman 1000 + 100=========================Total amount given 5,000Thus total money supply 5000 ONLY

Is there any problem in the above transaction?

RIBA Exposed RIBA Exposed – impossible to return – does not exist!– impossible to return – does not exist!

Loan taken = 5,000

Thus, total money supply 5,000

How will they return 5,500!

The Riba amount 500 – EXTRA does NOT exist

RIBA impossible to return ->ZULM=HARAM

Returning RIBAReturning RIBA

Trying to do the impossible

Every Haram has its price !

In order to achieve the impossible, the whole society will be affected negatively!

Negative consequence of RIBANegative consequence of RIBAInflation (in the long term hyper-inflation/sprilling)Short money supplyCurrency devaluedUnemployment (stagflation)Cheating and fraudDeteriorating quality of good & servicesOrganized crime, supported by influential peopleForeigners dictating policyPolitically dividedForeigners acquiring national assetsForeigner instructing to disable national securityLawlessness, helplessnessRampant corruptionEffectively a failed stateWAR

Interest + inflation = sprilling inflation

Our progress after 60 years of Riba!Our progress after 60 years of Riba!

5 simple people sit to think5 simple people sit to thinkUncle Yahoodi came to help us ?

AID should be forgiven !

To help us, Uncle Yahoodi gave us 5000. So we should return 5000!

Uncle Yahoodi gave us worthless paper, in exchange he took over our country!

Why did we accept his money on his terms?

Why didn’t we buy gold ?

Extremely Profitable Business

Transaction

Recent history of bankingRecent history of bankingJews, were jewelers & goldsmiths

People would keep their valuable, in their vault, in return for service charge and a promissory note.

It was noticed that only 1 in 20 people returned for their valuable. 95% did not return!

Their promissory note was been circulated in the whole town, because of the ease of use.

They began to print NOTES!They began to print NOTES!

If they had gold worth € 100, they could easily print and distribute € 2000 worth!

They gave loans

They bought real assets: property, building, farms, horses, gold mines!

They began to keep mini armies!

In the town they became Lords!

At the national levelAt the national level

They gave their allegiance to the king of the area.

Promised to finance the “war”

In return only they would be allowed to legally print money in the country.

Whenever the king needed money, they would freely give, in return for assets of the kingdom. New kings became slaves in their hands!

Proof of Jewish instigated warsProof of Jewish instigated wars

Napoleon Bonaparte:The Jews provide troops for my campaign in Poland, but they ought to reimburse me…They are a state within the state. The Jews are master robbers of the modern age; they are the carrion birds of humanity …

(Speeches before the Council of State May 7th, 1806, Book:

“Antizion” by William Grimstard)

Proof of Jewish instigated warsProof of Jewish instigated wars

Winston Churchill, UK Prime Minister:This movement among the Jews in not new. This worldwide conspiracy for the overthrow of civilization and for the predominance of Jews is even more astounding. The same evil prominence was obtained in the brief period of terror …

(Illustrated Sunday Herald, London, February 8, 1920)

Proof of Jewish instigated warsProof of Jewish instigated wars

Henry Ford, 20th Century U$ Tycoon:

Get hold of 50 of the wealthiest Jewish financiers, the men who are interested in making wars for their own profit. Control them, and you will put an end to it all.

(Cleveland News, September 20, 1923)

Who is authorized to print money ?Who is authorized to print money ?

What is the future of RIBA ?What is the future of RIBA ?