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E41: 5 reasons why interest is haram (Tafseer s.17)
E41: 5 reasons why interest is haram (Tafseer s.17)
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).
Please take a second to rate our podcast and leave a comment!
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).
Please take a second to rate our podcast and leave a comment!
Released:
Jul 24, 2019
Format:
Podcast episode
Titles in the series (100)
Ep 10: Tafseer (s.6) - How to set and achieve life goals through the Qur'an by IslamicFinanceGuru Podcasts