The Garden of Knowledge

بسم الله الرحمن الرحيم

24 Jumaadal Ula 1445/08 December 2023

All praise is due to Allah, the Cherisher, Sustainer, Nourisher and Provider of the entire creation. May peace, blessings and salutations be upon our Beloved Prophet Muhammed ﷺ.

In previous articles we discussed riba and delved into a deep understanding of the verses with regards to riba found within the Quran.

When examining the notion of riba in Islam, it’s interesting to compare it to its biblical counterpart. Riba, which is frequently translated as interest or usury, has moral and historical ramifications that are firmly ingrained in religious teachings. Even though the Bible doesn’t specifically mention the term ‘riba’, understanding the broader context of interest/usury and its ramifications in both Islamic and Judeo-Christian traditions can be gained by looking at related ideas and financial ethics.

The following excerpts are found within the Old Testament:

• “Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury” [Deuteronomy 23:19]
• “LORD, who shall abide in thy tabernacle? Who shall dwell in thy holy hill? He that walketh uprightly and worketh righteousness, and speaketh the truth in his heart. He that putteth not out his money to usury, nor taketh reward against the innocent.” [Psalms 15:1,2,5]
• “He that by usury and unjust gain increaseth his substance, He shall gather it for him that will pity the poor.” [Proverbs 28:8]
• “In thee have they taken gifts to shed blood; thou hast taken usury and increase, and thou hast greedily gained of thy neighbours by extortion, and hast forgotten me, saith the Lord GOD.” [Ezekiel 22:12]

The phrase “usury” in the Bible refers to any sum that the creditor seeks above and beyond the principle amount provided to the debtor. The word riba in the Quran carries the same connotation as verse 161 in Surah An-Nisaa clearly states that riba was forbidden for Jews as well.

We ask Allah accept our efforts from us and grant us understanding In Sha Allah!

References:

• Mufti Muhammad Taqi Usmani; The Historical Judgement on Interest
• Bible.com