Who deserves to be Worshiped ?

encourages one to work for a living. Secondly, the one who borrows does so due to a
lack of financial resources, but due to interest, the debt creates an even greater
burden because the borrower must repay the principle coupled with interest charges.
Thirdly, a system based on interest can lead to inflation, recession and even a
complete collapse of financial markets, as we have witnessed in our time. Many
nations in both the developed and developing worlds have become enslaved by the
system of usury and interest.
It is undisputed that the 2008-2009 world economic downturn (and possible
collapse of many world economies), which started in the United States and spread to
Europe and Asia, was caused directly by excessive lending in amounts several times
more than the actual worth of the assets in loans. The interest charges were spread
over many resold loans, resulting in an exaggerated and unrealistic inflation of the
value of the actual money lent. This false representation of value meant that it would
be impossible for most debtors to pay back such loans.
Allah, the Almighty, forbade usury in three places in the Quran (2: 275-278; 3:
130; and 4: 161).
{Those who consume interest 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 interest. But Allah has permitted trade and has forbidden interest.
So whoever has received an admonition from his Lord and desists may have what is
past, and his affair rests with Allah. But whoever returns to [dealing in interest or
usury]—those are the companions of the fire; they will abide eternally therein.}
(Quran 2: 275)
In Islam, the distinction between legitimate (allowed) and forbidden practices is
very clear. Islam permits loans and the borrowing of money, but without interest
charges. In fact, the Quran highly encourages forgiving a debt in order to remove the
hardship from the borrower, especially if he or she is in financial difficulties. Allah
has promised a great reward for the one who is able to make this sacrifice.
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