Help required for new Quranic Study Group
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Peace all
We have started a Quranic Study & Action Group in Johannesburg, South Africa.
We intend studying Quran on a subject basis.
I have posted this topic as our next topic is the Quranic concept of Riba. I would appreciate input on your views as well as any links, literature, etc. that deals with this topic from a Quranic perspective.
Please give Quranic references to support your view.
I look forward to hearing from you all.
Imraan
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peace,
Congratulations on starting a study group.
www.studyquran.org
From www.studyquran.co.uk/PRLonline.htm= Ra-Ba-Waw = it increased/augmented, the practicing/taking of usury, excess/addition, an addition obtained more than what is supposed to be received, become high/grown up/large/swollen/risen, mount up, to grow/swell, out of breath, panting. rabiyatun - ever-increasing, severe. arba (comp. form) - more numerous, more increased.
raba vb. (1)
perf. act. 225, 4139
impf. act. 3039, 3039
pcple. act. 1317, 1692, 6910rabwah n.f. 2265, 2350
riba n.m. 2275, 2275, 2275, 2276, 2278, 3130, 4161, 3039
rabba vb. (2)
perf. act. 1724
impf. act. 2618arba vb. (4) impf. act. 2276
LL, V3, p 189, 190
It is clear riba is a type of growth. From my Quranic studies so far, the range of meaning could be a simple addition to the sum/loan, to, a constantly growing addition to the sum/loan (e.g. compound interest). It is clear the latter is not allowed. In my opinion, having a fixed addition, that can never grow, is unlikely to be riba. I am open to the possibility that it could be classed as riba however. Under a Quranic system, it is unlikely the addition could be pursued legally anyway, and if the loan recipient could not pay, one would have to remit it as charity.
Another problem is when we are thinking about the concept and what it is, we think about it with fiat currency, which is not Quranic to begin with. But I guess a normal example could be done using gold, assuming it was in circulation as per the Quranic system.
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Peace. One verse which speaks of "riba" is
(3130) "O you who have believed, do not consume usury, doubled and multiplied, but fear Allah that you may be successful."
From this verse, we can understand that "riba" refers to very high interest. I think that 1%-4% are OK. Furthermore if there wasnt any interest, then there would not really be an incentive to pay the money back to the bank.
Besides, the word "usury" is used, not "interest".
For more incite on this topic, go to
http//www.yuksel.org/e/religion/unorthodox.htm#USURY -
Peace progressive1993
I have responded to some of your Comments on this thread.
http//free-minds.org/forum/index.php?topic=9597204.0
As for the article you referenced, I find that one of the major flaws in the argument that riba has nothing to do with commercial dealings, is that one who has requirement for basic needs is entitled to sadaqa, & need not be asking for a loan. Imo, such a person would have a right to any excess wealth that I may have.
Imraan
