kakarot_999
14-03-2012, 12:51 PM
Salaamu alaiykum
I often hear shiekhs say that riba is a very punishable act and it is very rampant in today's society. It is very difficult to escape it if one is trying to earn a living. Then they say that we should try our best to not indulge in these things and trust in Allah for other means of support. Then they stop speaking!!! I'm like what? I don't even know what riba is and what are the sources of it present today. It seems as if my ignorance is being mocked at when people say "This is bad. If you do it, you will be punished very severely. Make sure you stay away from it. That is all. *smiles*" and not tell us what that thing even is in practical terms. Such people will ask Allah on the day of judgement that you knew and you didn't say. So I want your knowledge on this matter and what sources riba come in.
I only know a few:
Anything which has interest (whether in the form of money or otherwise) attached to it, whether a mortgage or a loan i.e. something where you have to pay extra for the extension of time or for other reasons.
When you trade goods of high quality and low quantity, with high quantity and low quality.
What about others? In my tradition, which is rampant in arab business, people buy things in bulk so as to get the individual products cheaper (e.g. 100 laptops for £2000, making that £20 per laptop, and then selling each laptop at a higher price to other customers). Is this riba? Give others if you know. Jazakallahu khaiyrun
I often hear shiekhs say that riba is a very punishable act and it is very rampant in today's society. It is very difficult to escape it if one is trying to earn a living. Then they say that we should try our best to not indulge in these things and trust in Allah for other means of support. Then they stop speaking!!! I'm like what? I don't even know what riba is and what are the sources of it present today. It seems as if my ignorance is being mocked at when people say "This is bad. If you do it, you will be punished very severely. Make sure you stay away from it. That is all. *smiles*" and not tell us what that thing even is in practical terms. Such people will ask Allah on the day of judgement that you knew and you didn't say. So I want your knowledge on this matter and what sources riba come in.
I only know a few:
Anything which has interest (whether in the form of money or otherwise) attached to it, whether a mortgage or a loan i.e. something where you have to pay extra for the extension of time or for other reasons.
When you trade goods of high quality and low quantity, with high quantity and low quality.
What about others? In my tradition, which is rampant in arab business, people buy things in bulk so as to get the individual products cheaper (e.g. 100 laptops for £2000, making that £20 per laptop, and then selling each laptop at a higher price to other customers). Is this riba? Give others if you know. Jazakallahu khaiyrun