intrest

[Abid Mehboob]

can any one share about this topic ?????
the realness of intrest ,interest rate structure, interest rate on consumer financing and its economic effects ,philosophy of riba, why riba forbidden pros and cons and effects on the economy...

[kal3m]

Originally Posted by Abid Mehboob

can any one share about this topic ?????
the realness of intrest ,interest rate structure, interest rate on consumer financing and its economic effects ,philosophy of riba, why riba forbidden pros and cons and effects on the economy...

Well bro its very knowledge and time rendering topic lot of work has been done still lot is needed. Firstly I would like to start from the last part of the question

Riba or usury or Interest haram According to Islamic law and Jurisprudence the clear evidences are from Quran as well as from the traditions of Prophet saww.
In quran Surat baqra verse # 275 to 280. In traditions
1-The 70th part of the evil of Riba is equal to an adultery with mother.
2-Jews were prohibited from fat of animals they heated it and used it. ( Telling that if some thing is prohibited than by changing the name it does not become permissible as in Banking sectors names have been changed mark up instead of interest etc)

Jews were very famous in providing loan on interest and unfortunately the former of the 1st bank was also jew (Rothschild family), the bank of england, even some traditions found that one reason behind the hanging of Jesus(But Allah replaced Him with the traitor and he was hanged) on cross was also that he A.S prevented them from doing interest based business while the jews were making transactions sitting in Jerusalem Mosque. The reserve bank of america is also in control of rothschild family. Beyond the conspiracies the philosophy of forbidding and prohibiting riba based business are as under
1- Rich become richer without any effort and poor become poorest after putting huge efforts
2- Monetary circle rotate in few hands.
3- In Interest base lending it is always assumed that if particular loan will be not returned in prescribed time limit the interest rate would rise gradually which make the borrower unable to pay not only interest but also the principle amount.
4- In interest based business it is always considered to attain something as a security which on non payment could be seized. It makes the borrower's condition more deplorable.
5- It never helps in social growth nor in social sound bounding.
6- Above than all as a muslim when something is clearly prohibited in Quran and Sunnah we should blindly follow it. If a Muslim can trust on a book Which says that your God is one and than believes that in Reality god is one than he must obey other ordains of Allah too. But philosophies are always there and one must know so that he can influence someone else.

America is under 13 trillion debt and yet the credit card debt is to come. Pak is in 11 billion rupee debt why because of borrowing from banks.


In Pak KiBOR is a bench mark for interest rate offering.