Usury/interest Is Modern Day Slavery!

DesertRose

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Found a pamphlet for Muslims on Riba/Interest it gives our stance on interest:

The Dangers of Riba
Is it not amazing that a Muslim will never eat pork because it is haram (unlawful); never marry his mother or sister because it is also haram, yet that same person has no problem devouring riba (e.g. interest, usury)? Did you know that engaging in riba is a major sin which could lead you to Hell?

“…but whoever returns (to dealing in riba), such are the dwellers of the Fire — they will abide therein.” Qur’an 2:275

If dealing in riba is so punishable, why do many Muslims fall into this sin and take the issue so lightly?

The Meaning of Riba
Riba is an Arabic noun derived from the verb Raba, meaning ‘to increase’, ‘to grow’, and ‘to exceed’. It includes interest which is paid by banks or on loans such as car loans, home loans or credit card debt.

Proof that Riba is Haram
There are many proofs showing that riba is haram and one of the most serious sins in Islam!

For those with true faith in Allah and the Qur’an, this clear verse prohibiting riba is sufficient:

“…Allah has permitted trade and has forbidden riba.” Qur’an 2:275
In the Qur’an, Allah does not declare war on anyone except those who deal in riba:

“O you who believe, fear Allah and give up what remains of your demand for riba, if you are indeed believers. If you do it not, take notice of war from Allah and His Messenger.” Qur’an 2:278-279
Would you like Allah, The Almighty, to wage war against you after He has made it abundantly clear that riba is haram?

The Prophet (peace be upon him) warned that consuming riba is one of the seven sins that doom a person to Hell. (Bukhari and Muslim)

Riba is haram in all of its aspects, as the Prophet (peace be upon him) said (Muslim), “Allah has cursed the one who consumes riba, the one who gives it, the one who witnesses over it, and the one who writes down the transaction.”

Do not be of those whom Allah has cursed!

Why is Riba Haram?
The first and foremost reason riba is haram is because Allah declared it so. It is based on Allah’s infinite wisdom that He deems an action to be obligatory or prohibited, prescribing matters in man’s best interests, in this life and in the Hereafter, as He is the All-Wise, All-Knowing. The scholars of Islam have suggested the following reasons as to why riba is haram:

  • Whole nations, dozens of them, large and small, have foreign debts so large that their riba payments on these debts are a crushing burden on the entire country. Debt kills. Some 11 million children die each year around the world due to conditions of poverty and debt. Former President Obasanjo, commented on the debt Nigeria faces:
    “All that we had borrowed up to 1985 or 1986 was around $5 billion and we have paid about $16 billion yet we are still being told that we owe about $28 billion. That $28 billion came about because of the injustice in the foreign creditors’ (lenders) interest rates.
    If you ask me what is the worst thing in the world, I will say it is compound interest.”
    - Jubilee 2000 news update, August 2000

  • Riba conflicts with the spirit of brotherhood and sympathy, and is based on greed, selfishness and hard heartedness.
  • Riba is one of the major contributors towards inflation.
  • Riba causes trauma and depression due to mounting debts.
  • Riba is a sure gain without any possibility of loss, hence all the risk is taken by the borrower, rather than sharing the risk and the profits with both parties.
  • Riba creates a monopoly in society, where the rich are rewarded for being wealthy, while those who are not are forced to pay extra!
During the global financial crisis in 2008 and 2009, the Daily Vatican newspaper, L’Osservatore Romano, reported the Vatican as saying that the Islamic finance system may help Western banks in the crisis as an alternative. The Vatican advised: “The ethical principles on which Islamic finance is based may bring banks closer to their clients and to the true spirit which should mark every financial service.”

Where a riba-based market fails, Islamic financial institutions do not suffer the same consequences since the risk is shared by both parties. Lenders will be more careful, as they also share the risk of losing money if the borrower cannot pay back the original sum.

Given all the problems that riba creates, it is no wonder Islam prohibits such a detestable act.

How can I avoid Riba?
Living in a capitalist society makes it difficult to completely avoid riba. However, this should not be used as an excuse to freely indulge in it. An obvious way to steer clear of this evil is to not take out a loan which involves paying riba. Other solutions include:

  • Opening up riba-free bank accounts.
  • Not entering into contracts which stipulate riba penalties, even though one intends to pay on time.
  • Making bill payments on time so as not incur a late penalty.
  • Meeting any conditions required to continue trading without the use of riba.
  • Borrowing money from family or friends where possible.
  • Dealing with Islamically compliant banks.
  • Renting if you cannot afford to buy a house without riba.
  • Accepting/organising a “goodly loan” (al-qard al-hasanah), which is a loan by means of which one intends to show kindness to another, which does not involve taking riba.
With regard to the interest that the bank has given you, do not return nor consume it. Rather, spend it on charitable causes, such as giving it to the poor, buying disposable items (like toilet paper) for Islamic centres and mosques, and helping debtors. However, do not expect reward for this.

The most effective way to avoid riba and determine which transactions are permissible, is by consulting Islamic scholars and utilising their knowledge.

What if I’m desperate?
In Islam, one is forgiven for performing a forbidden act in times of desperation. Therefore, if one is forced to use riba, otherwise risk extreme hardship or death, it becomes temporarily permissible, until that hardship is overcome. Keep in mind that enduring the hardship caused by refraining from riba, for the sake of Allah, will gain reward. A person of Islamic knowledge and understanding of one’s personal situation, must be the one to determine if a person is indeed in difficulty. Otherwise, this exception to the rule may be taken advantage of, and many people may wrongly consume riba and suffer the consequences laid out by Allah.

There is a common misconception amongst Muslims with regards to buying a first house using riba. Some claim that it is permissible, a “necessity”. The fact that one can easily rent a house instead of buying, disproves this claim. If the theory were true, would that then mean that drinking the first bottle of alcohol is permissible, even though water is available? Or eating pork when there is a permissible substitute? While it may be easy to fool others into believing this, we must remember that:

“… Allah knows all that you reveal and all that you conceal.” Qur’an 5:99
Paying rent in order to support oneself and their family is not “wasted money”. InshaAllah, Allah the Most Appreciative, will reward this like charity: “When someone spends on his family seeking his reward for it from Allah, it is counted as a charity from him.”(Bukhari and Muslim)

Success in this Life & the Hereafter
When examining this issue of riba, we should remember that true success lies with the help of Allah alone. If we abide by that which is lawful, and avoid that which is haram, our wealth will be blessed and beneficial in this world and the Hereafter. What good is extra money earned through riba if there is no blessing in it, and it is cursed – a source of misery?

On the Day of Resurrection, people will rise from their graves quickly, except those who engaged in riba. They will stand up and then fall down like epileptics because:

“Those who consume riba cannot stand (on the Day of Resurrection) except as one stands who is being beaten by Satan into insanity. That is because they say, ‘Trade is (just) like riba.’ But Allah has permitted trade and has forbidden riba…” Qur’an 2:275
Such is the punishment for those who consume riba and do not sincerely repent from this great sin.

As for those who strive toward success by earning Allah’s pleasure, they take comfort from the following verse:

“O you who believe! Do not devour Riba (e.g. interest), making it double & redouble, and be careful of (your duty to) Allah, that you may be successful.” Qur’an 3:130
We are also shown how to be successful in the Hereafter:

“The only saying of the faithful believers when they are called to Allah (His Words- the Qur’an) and His Messenger, to judge between them, is that they say: “We hear and we obey.” And such are the successful (who will live forever in Paradise).”Qur’an 24:51
Conclusion
None can doubt that riba is haram and a major sin, and no disobedience to Allah is worth the risk of His punishment. We must remember that the life of this world is short and fleeting, and that the purpose of our existence is not to lust after beauty and wealth, but rather to worship Allah correctly and live by His rules. Just because riba is widespread and common, it does not make it permissible.

“And whosoever fears Allah and keeps his duty to Him, He will make a way for him to get out (from every difficulty), and will provide him sustenance from where he never even imagined. And whosoever puts his trust in Allah, Allah is sufficient for him.” Qur’an 65:2-3
 
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Then why are the vast majority -- almost 100 percent -- of terror attacks committed by people who identify as Muslim? Sorry if that seems like a pot shot, but it's the truth.
Have you met any of those accused of terror attacks in person? Are they really Muslims when Muslims constantly denounce them?

I think all you've seen of them is what the media shows the whole world. Enough said.
 

Thunderian

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Have you met any of those accused of terror attacks in person? Are they really Muslims when Muslims constantly denounce them?
I haven't met any of the accused, nor have I met a Muslim who denounces them. What I have seen is plenty of justification for Islamic terror in general and for Islamic terror groups.
 
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I haven't met any of the accused, nor have I met a Muslim who denounces them. What I have seen is plenty of justification for Islamic terror in general and for Islamic terror groups.
Well there's none. And maybe i am the first Muslim who, to you, is denouncing all those terror attacks supposedly perpetrated by "Muslims"?

I highly doubt that. Terrorism has no place in Islam. There never was. You don't go off killing innocents. There's only self-defense.
 

rainerann

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It is more likely that the original law regarding issuing loans with interest to foreigners but not to fellow Jews demonstrates that the people were already acclimated to the subject of usury and that it already existed in some form. Originally, prohibiting usury within Israel would prevent people from becoming enslaved within Israel. Therefore, you could say that to be part of Israel would mean freedom from slavery (Galatians 3:28).

Here is a brief quote from a blog about the history of debt slavery.

Debt collection has existed for far longer than one might imagine. Debt Collection was woven into the fabric of economies of ancient civilizations. Some ancient societies allowed debt forgiveness and erasure after a certain period of time, others did not. The oldest written records indicate that debt collection dates back to 3000 BC in the civilization of Sumer. Sumer was the first ancient urban civilization in the historical region of southern Mesopotamia, which later became Mesopotamia, then Persia, and today is southern Iraq. It was here that we have the source of the earliest known writings dealing with the profession of debt collection.

Among Sumer folk, those who had debt and could not pay their creditors would become “debt slaves”, sometimes along with their family and servants. Some people would remain debt slaves for years, or even generation; debt saves worked for their creditor with physical labor until their debt was paid.

One must wonder how the CFPB would look at debt slaves in the context of today’s debtor friendly laws. Society has certainly come a long way, but has always recognized the need for debt collection in a functioning economy. We’ll be producing this as an occasional series on the history of debt collection.
https://marcadislaw.com/early-civilizations-debt-collection/

Therefore, usury is not historically a Jewish creation or phenomenon.

However, it is no secret that the current banking system derives from the Jewish people taking advantage of this verse that allows them to lend to a foreigner. They were able to use this to create profits for themselves throughout medieval Europe. This is admitted in an article on the subject from MyJewishLearning

This dependence on Jewish usury came about because of strict guidelines regarding borrowing money within the Christian communities. This legalistic perspective led them to take money from the Jews with interest.

So there is a lesson against legalism that would completely prevent borrowing money within this history of usury between Christians and Jews as well. People should be able to borrow and create their own money without becoming dependent on any one group to provide this service like we have now. This would create protection from the sort of imbalance of economic power that we are suffering with at the present time.

If most of the nations that are taking international loans could establish their own system of creating money and borrowing and lending among themselves, then they would be less likely to be victimized by international banks that are descendants of Jewish lending in medieval Europe. There is no rule that says that any nation can't create their own increase in their money supply in whatever way they see fit so that they don't have to consider the loan from an international bank as a viable option. They should not be legalistic in opposition to this possibility. Historically, this has only led to increasing poverty when money is not being circulated within an economy is such as way as to promote growth within that economy leaving people feeling trapped and unable to function without some type of loan.

Debt slavery is easily preventable with some system of debt forgiveness established. A person should be able to petition for debt forgiveness in cases of illness, disability, or other unforeseen hardships. There should petition for debt forgiveness in cases of gambling, addictions, etc., with some type of service to the community that they complete. Then, the possibility of debt slavery is removed from the equation of borrowing and people are able to borrow and lend without worry about such things.

At the current time, most of the loans that are created are not created with money that the bank has. Banks create money when they create loans so to cancel this loan costs them nothing.
 

Serveto

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Debt slavery is easily preventable with some system of debt forgiveness established ...
Such as, for instance, a Sabbatical Year and Jubilee, but universally applicable? It might be nice to move it (i.e, the Jubilee) up to every 7 instead of 50 years, but, still, the idea of debt relief is also expressed in the Torah and this, it seems to me, is a noble, if little discussed, aspect of Judaism.
 

rainerann

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Such as, for instance, a Sabbatical Year and Jubilee, but universally applicable? It might be nice to move it up to every 7 instead of 50 years, but, still, the idea of debt relief is also expressed in the Torah and this, it seems to me, is a noble, if little discussed, aspect of Judaism.
Yes, that is exactly what I am basing the suggestion on. However, the year of canceling debts was every 7 years. Every seven years all debts had to be canceled because Israel was allowed to lend to other Israelites. I should have included this earlier. They were allowed to lend, they just weren't allowed to lend with interest, but there was some system of borrowing money that would be returned in installments. Then, at the end of seven years, this would be canceled (Deuteronomy 15).

Then, the year of Jubilee was more about restoring property rights (Leviticus 25). They resemble lease agreements really. One example would be paying someone to use their property to grow crops. The man who owned the property could not charge you more than you would be able to profit from the sale of crops, then this lease would end in the year of Jubilee. So the man who owned the property can use his property to increase his wealth in this way. Then, Israel could continue in prosperity.

I definitely feel it should be discussed more. Most of the time, people think it is ridiculous, but it worked at one point. I think people are really more afraid of change than anything else.
 
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Not only is usury slavery (as Serv or Rain mentioned debts were SUPPOSED to be forgiven every 7 years), but getting taxed on your labor is too. Its like me planting 5 crops and the gov't coming and taking 1 as a "tax". In all actuality, the system in general which has the general public working to pay back debts they didnt create, is economic slavery. Once they print $1, and lend it to the gov'ts, they immediately place said countries in debt. And its a perpetual debt because for whatever reason, countries agreed to have central banks print their currency then lend it to them with interest..
 

Kung Fu

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I haven't met any of the accused, nor have I met a Muslim who denounces them. What I have seen is plenty of justification for Islamic terror in general and for Islamic terror groups.
Kind of like how you've never denounced Israeli terror attacks :rolleyes:

Just because you cover your ears every time Muslims all over the world and on here condemn terrorist attacks doesn't mean it didn't happen. Can't say the same for you though when it comes to Israel or any Jew for that matter.
 
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Thunderian

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Kind of like how you've never denounced Israeli terror attacks :rolleyes:
Point me to the nearest Israeli stabbing spree. I'll denounce it.

Show where a Jew has walked into a crowd of civilians and triggered a suicide belt. I'll denounce it.

Please post a link to a video where Jewish kids TV calls for the annihilation of Muslims, and I will denounce that, too.
 

Kung Fu

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Point me to the nearest Israeli stabbing spree. I'll denounce it.

Show where a Jew has walked into a crowd of civilians and triggered a suicide belt. I'll denounce it.

Please post a link to a video where Jewish kids TV calls for the annihilation of Muslims, and I will denounce that, too.
More hypocritical nonsense from your slithering self. When they kill kids playing on a beach that's them defending themselves rather than it being a labelled a terrorist attack, right? I wonder what your excuse for this one is going to be lol.
 
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There's an interesting point @Thunderian made which I can't ignore.
Basically this thread title, ie 'interest is modern day slavery'
His response:
Anyway, even if it is modern slavery, doesn't Islam permit slavery?



Here's my honest viewpoint
compare 2 systems which bring about a form of enslavement, one is condoned by the Abrahimic God, the other is seen as evil in most contexts.


A tangible system
-Usury, paper currency etc
The main problem here is, this 'system' is controlled by certain people from top down.

An intangible system
-karma, karmic debt
This is fundamentally in God's hands and people are the medium. Slavery is part of God's decree. Take a look at examples in the bible where good men were put into slavery ie Joseph, Daniel.

When the israelites/jews were in collective karmic debt, they were 'punished' (by God) Through another medium ie assyrians, babylonians etc who put them into bondage.
it is ironic here that in the Quran in Surah 17 Allah refers to the babylonians as 'OUR SERVANTS' ...afterall the chaldean rulers (of babylon) were usurers. I've spoken a fair bit about this from the bible is Zechariah 5, Habakkuk 2. Even though the babylonians were evil in God's eyes and so they were eventually destroyed...but God would allow an evil to punish another evil...even though in Habakkuk 1, the prophet challenged God on this ie 'i know we're bad but we're not THAT bad' and God says 'don't worry, im just using them for now'.

Also remember what we know about babylon.
They built the tower of babel. In the abrahimic context this was considered them 'challenging God'. Babylon means 'gate of the Gods'
The system of usury in the future is extended to a whole new level of CONTROL (think about what that wealth has financed long term)
i've been saying this for years
we live in mystery babylon
and we know who the whore is.
The jewish idea of control, watch Spielberg's Minority report.
https://www.outerplaces.com/science-fiction/item/9538-how-minority-report-predicted-the-future-with-surprising-accuracy
we know who controls the systems and technologies
'whore of babylon' is no understatement.


Genesis 11
4 Then they said, “Come, let’s build ourselves a city with a tower that has its top reaching up into heaven, so that we can make a name for ourselves and not be scattered all over the earth.

pretty ironic isn't it, in relation to the jews?
 
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