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E41: 5 reasons why interest is haram (Tafseer s.17)

E41: 5 reasons why interest is haram (Tafseer s.17)

FromIslamicFinanceGuru Podcasts


E41: 5 reasons why interest is haram (Tafseer s.17)

FromIslamicFinanceGuru Podcasts

ratings:
Length:
30 minutes
Released:
Jul 24, 2019
Format:
Podcast episode

Description

We're taking a look at verses 2:175-179 - the verses forbidding interest. The 5 reasons are:
 1. It is exploitative of the poor (as they are generally those who require debt) 
2. Interest gives rise to an exploitative economic system even if a specific instance of a loan may not appear to be exploitative. 
3. Money has no intrinsic value and so cannot be rented. 
4. To try to rent "the value imbued within currency by others in society" is not (a) clear/certain; and (b) appears to be renting out something a lender has no right to be renting out. 
5. lending money leads to a devaluation of the very thing being loaned (due to inflation). 
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Released:
Jul 24, 2019
Format:
Podcast episode

Titles in the series (100)

The Islamic Finance Guru Podcasts are a series of podcasts aimed at bringing money matters to the forefront of the Muslim community. We've got something for everyone, from our popular Millionaire Muslim podcast where we discuss halal investments, personal finance and entrepreneurship! We also give you a spiritual kick with regular business/finance-focused Qur'an tafseer sessions! Or hear the IFG team discuss current affairs in our fortnightly news round-up!