Warning Against Riba [ Usury ] Transactions - Islam House

clearly to men what is sent down to them, and that they may
give thought}[16:44],
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{And We have not sent down the Book (the Quran) to you
(O Muhammad), except that you may explain clearly unto
them those things in which they differ, and a guidance and
a mercy for a folk who believes}[16:64]. There are many
other Ayat in the Quran on this topic.
Qiyas is Only Allowed Where There are no
Texts in the Quran or Sunnah
Ibrahim then said that Shaikh Rasheed Ridha
allowed savings accounts that gain interest. The opinion
that he mentioned is an error in judgment that is based on
discredited personal conclusions that clearly contradict the
relevant Texts [of the Quran and Sunnah]. The scholars
stated that Muslims are not allowed to rely on Ijtihad
(personal judgment) where a Text exists. Rather, Ijtihad is
only employed where there are no Texts, in which case,
only qualified persons are allowed to perform Ijtihad.
When a scholar tries his best in his Ijtihad and issues a
correct opinion, he will gain two rewards [one for Ijtihad
and one for correctness]. On the other hand, when a
scholar performs his best Ijtihad but issues the wrong
opinion, he will only gain one reward for his Ijtihad [yet,
the erroneous opinion –as in this case- is still invalid]. The
Prophet (������� �������� ��� �����) said,
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