Usury :- the activity of lending someone money with the agreement that they will payback a very much larger amount of money later. DEALING IN RIBA (USURY/INTEREST) IS A MAJOR SIN IN ISLAM. Allowing Riba (Interest-Usury) because of necessity?! Riba (Usury) :- When luxuries are involved, what is Haram will always remain Haram, necessities do not make it Halal. The only time a necessity makes a Haram thing Halal […]
Tag: paying interest in islam
RULING ON DEPOSITING MONEY IN THE BANK, AND INTEREST
All Praise be to Allaah Firstly:A believer must be aware of the fact that depositing money in the bank in return of riba ie. Interest(usury) is a major sin and very derogatory in the sight of Allah. Allaah says in holy Quran: “O you who believe! Be afraid of Allaah and give up what remains […]