Usury and Banking

A Hindu Scholar Admires the Philosophy of Economy in Islam

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Written by Andy

Dear friends! Today I am going to share with you a very important subject. Please, listen to it carefully. If we think about the teachings of the Prophet Muhammad or the teachings of Muslims, we find two very valuable things.

Universality of the Teachings of Islam

What is the first one? The first one is that the teachings of the Prophet Muhammad are not for any specific country, nor for any particular religion, Hindu, Muslim, Sikh, Christian, rather his teachings are for all.

In addition, his teachings are as fresh and relevant as it was before fifteen centuries. Every field of life has been covered fully by his teachings; no subject of life has been left unaddressed. Rather, he brought divine guidance for all kinds of betterment and to spread the truth. However, if his teachings are misunderstood or misinterpreted, that is a different subject. In fact, his teachings lead to the path of truth.

Uniqueness of Islam in its Economic System

The Arthashastra (Hindu political system) or the economy system regards interests (or usury (as a rent of the capital money or gives any other name, but the interests or the usury are totally prohibited and unlawful in Islam. According to Islam, usury system is a source that makes a rich richer while makes a poor poorer. Therefore, it is a source of exploitation.

Teachings of Qur’an on Usury

The Glorious Qur’an announces in clear words that usury is prohibited. The Qur’an says in this regard: “O you, who have believed, do not consume usury, doubled and multiplied but fear Allah that you may be successful.” (Aal `Imran 3:130) Usury spoils the blessings. The money earned by usury tradition ruins the divine help, as well as it damages the righteous deeds. Be careful! “Allah will deprive usury of all blessing, but will give increase for deeds of charity: For He loves not creatures ungrateful and wicked.” (Al-Baqarah 2:276)

Whoever has intended to make money through usury and searches for excuses, in fact those false excuses are tricks of devils. Those who try to convince themselves and others that usury is a legal way, in fact they are trapped in the traps of devils. Those people were warned by the Qur’an of serious punishment on the Day of Judgment. The Qur’an says in this context: “Those who eat usury greedily will not stand except as stand one whom the Evil one by his touch has driven to madness. That is because they say: “Trade is like usury,” but God has permitted trade and forbidden usury. Those who after receiving direction from their Lord, give up, shall be pardoned for the past; their case is for God (to judge), but those who repeat (the sin) are companions of the Fire: They will abide therein (for ever).” (Al-Baqarah 2:275)

The Glorious Qur’an Prohibits the Interests

In addition, the Qur’an says:

“O you who believe, be aware of God and give up what is left of the financial interest if you are truly believers. And if you will not do this, then take notice of a war from God and His messenger; but if you repent, then you will have back your principal money, you will not be wronged nor will you wrong.”

Al-Baqarah 2:279-280

The Hindu Lecturer was extremely impressed by the teachings of Islam

If you have money, give it to the needy and poor people in loan, and give them space of time so that the borrower can return the money easily and will not commit suicide. If a needy person cannot return the money on due time and becomes late under some dire need, do not be cruel to him, do not insult him, do not curse him, give him time, let him earn his bread, do not use illegal ways to earn money, fear Him and use the halal and legal ways to earn the livelihood. And do not be near to the illegal ways of earning.

Source: https://www.islam-hinduism.com/hindu-scholar-admires-philosophy-economy-islam

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Andy

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