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This site is solely dedicated to publish my writing, mostly on the topic of Islamic finance. Some of the articles were written as partial fulfillment for completing the Chartered Islamic Finance Professional (CIFP) certifications and for the Ph.D in Islamic Finance that I am currently undertake. Interested parties, including reporter/press or students, may reproduce or quote materials published provided that the credit has to be given to my blog (arzim.blogspot.com). Comments must be accompanied by names or pseudonyms. Anonymous postings and those containing profanities and obscenities will be rejected.


Sunday, March 28, 2010

Quranic Verses on Riba (Usury) I


(1) Those who swallow down usury cannot arise except as one whom Shaitan has prostrated by (his) touch does rise. That is because they say, trading is only like usury; and Allah has allowed trading and forbidden usury. To whomsoever then the admonition has come from his Lord, then he desists, he shall have what has already passed, and his affair is in the hands of Allah; and whoever returns (to it)-- these arc the inmates of the fire; they shall abide in it. 
( سورة البقرة , Al-Baqara, Chapter #2, Verse #275)


(2) Allah does not bless usury, and He causes charitable deeds to prosper, and Allah does not love any ungrateful sinner. 
( سورة البقرة , Al-Baqara, Chapter #2, Verse #276)


(3) O you who believe! Be careful of (your duty to) Allah and relinquish what remains (due) from usury, if you are believers.
( سورة البقرة , Al-Baqara, Chapter #2, Verse #278)


(4) O you who believe! do not devour usury, making it double and redouble, and be careful of (your duty to) Allah, that you may be successful. 
( سورة آل عمران , Aal-e-Imran, Chapter #3, Verse #130)


(5) And their taking usury though indeed they were forbidden it and their devouring the property of people falsely, and We have prepared for the unbelievers from among them a painful chastisement. 
( سورة النساء , An-Nisa, Chapter #4, Verse #161)


(6) And whatever you lay out as usury, so that it may increase in the property of men, it shall not increase with Allah; and whatever you give in charity, desiring Allah's pleasure-- it is these (persons) that shall get manifold. 
( سورة الروم , Ar-Room, Chapter #30, Verse #39)

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