Part of Concepts of Ahl as-Sunnah (series completed)
· Lesson 56 of 1251
Summary of Sunni concepts | Concept (54) | Usury legislation and its relationship to governance
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Transcript
Machine translation — may contain errors
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A summary of the concepts held by the Ahl al-Sunnah.
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The legislation of usury (riba) and its relationship to governance.
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The legalization of usurious banks.
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This is among the general legislations that contradict the ruling of Allah, the Exalted.
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Just as nothing is obligatory except what Allah and His Messenger have made obligatory,
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So too, nothing is forbidden except what Allah and His Messenger have forbidden.
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Allah has forbidden usury.
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Therefore, no one has the right to permit it.
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Declaring the forbidden to be lawful is an act of associating partners with Allah in the authority of legislation.
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It is a fabrication against Allah, the Exalted.
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For it is not a condition of fabrication that one must attribute the act directly to Allah;
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Rather, it includes declaring lawful that which He has not made lawful.
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Allah, the Exalted, has said:
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“Lo! Allah forgiveth not that a partner should be ascribed unto Him. He forgiveth (all) save that to whom He will. Whoso ascribeth partners to Allah, he hath indeed invented a tremendous sin.” (4:48)
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Usury is among the grave sins
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That herald a war from Allah against those who commit it.
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So, it is even more applicable to those who legislate it.
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Allah, the Exalted, has said:
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“O ye who believe! Observe your duty to Allah, and give up what remaineth (due to you) from usury, if ye are (in truth) believers.” (2:278)
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“And if ye do not, then be warned of war (against you) from Allah and His messenger. And if ye repent, then ye have your principal (without interest). Wrong not, and ye shall not be wronged.” (2:279)
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Establishing usurious banks and granting them licenses to operate
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Is considered an act of associating partners with Allah in judgment and legislation.
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It is not made permissible by deceiving people with labels,
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Such as "Islamic branches" and the like,
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Unless the bank’s transactions are, in reality, free from usury.
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For the consideration is given to the substance, not the form.
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Among the greatest usurers in the world today
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Are the World Bank and the International Monetary Fund.
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It is no secret what results from their lending to poor nations with usury:
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The increase of their poverty and the destruction of their economies.