Malawi Muslims Official Website
No Result
View All Result
  • Login
  • Home
  • Religion
  • Business
  • Health
  • Education
  • Entertainment
  • Politics
  • Sports
  • World
Contact Us
  • Home
  • Religion
  • Business
  • Health
  • Education
  • Entertainment
  • Politics
  • Sports
  • World
No Result
View All Result
Malawi Muslims Official Website
No Result
View All Result
  • Home
  • Religion
  • Business
  • Health
  • Education
  • Entertainment
  • Politics
  • Sports
  • World
Home Business

How Can We Avoid Riba?

Marshall Dyton by Marshall Dyton
14 years ago
in Business
Reading Time: 4 mins read
A A
2
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp



RELATED POSTS

Malawi, Huawei Tech Sign Memorandum of Understanding

Productivity Key to Malawi’s Economic Growth- Chakwera

Kadzakumanja Starts Offering Online Bussines Lessons

Photo: Productive Muslim

Former president Obasanjo, commented on the debt Nigeria faces:
“All that we had borrowed up to 1985 or 1986 was around $5 billion and we have paid about $16 billion. Yet we are still being told that we owe about $28 billion. That $28 billion came about because of the injustice in the foreign creditors’ (lenders) interest rates. If you ask me what is the worst thing in the world, I will say it is compound interest.”
-Jubilee 2000 News Update, August 2000

Isn’t it strange how a Muslim will strictly stay away from eating pork because it is haram, yet the same person has no problem devouring riba (otherwise known as usury or interest)?

“…but whoever returns (to dealing in Riba), such are the dwellers of the Fire- they will abide therein”. (Surah Baqarah, verse 275).

Riba brings hardship into this life, but much more importantly and frighteningly are its consequences in the grave and akhirah (the Hereafter).

 

So how can we avoid Riba?


Living in a Western, riba-based or at the very least riba-involved society, makes it a bit more difficult, however this should not and cannot be used as an excuse to freely indulge in it. Some tips are:

  1. Having tawakkul that Allah will provide for you and your family
  2. Not taking out loans which incur interest
  3. Choosing halal investments (for example gold rather than the stock market)
  4. Renting and saving the cash for a home instead of a mortgage
  5. Being weary of contracts you sign and having a student of knowledge/imam/shaykh check them
  6. Opening up bank accounts without interest (in other words, chequeing accounts)
  7. Making bill payments on time so as not to incur a late penalty (set your account to automatic payment so the bank will automatically withdraw and you will be sure to not pay late)
  8. Borrowing money from family or friends where possible
  9. Not buying what you simply don’t have the money for – live within your means
  10. Dealing with Islamically compliant banks
  11. Accepting/Organizing a “Goodly Loan” (al Qard al Hasanah), which is a loan by means of which one intends to show kindness to another, which does not involve taking Riba
  12. Taking a gap year before university to save up and avoid interest loans, and/or doing a co-op/working during university

 

If you have received interest, you should spend it in the way of charity without expecting reward.

The most effective way to avoid Riba and to determine which transactions are permissible is by consulting Islamic scholars and utilizing their knowledge.

ADVERTISEMENT

Myth Buster
There is a common misconception amongst Muslims with regard to buying a first house using Riba. Some claim that it is permissible, a “necessity”. The fact that one can easily rent a house instead of buying disproves this claim. Shelter is a necessity, and renting is the solution if you cannot afford to buy a house yourself at the moment. Paying rent is not “wasted money”. Allah Subhanahu wa Ta’ala the most Appreciative and you will be rewarded for your obedience and patience bi’ithnillah. “When someone spends on his family seeking his reward for it from Allah, it is counted as a charity for him.”(Bukhari and Muslim)

Success in this Life and the hereafter
When examining the issues of riba, we should remember that true success lies with the help of Allah alone. If we abide by what which is lawful, and avoid that which is haram, our wealth will be blessed and beneficial in this world and the hereafter. What good extra money earned through Riba if there is no blessing in it, and it is cursed-a source of misery? To be productive, there should be barakah in our lives. It is also important to keep the life of this world in perspective and remember to be like a traveller. Don’t trade a house (or palace insha Allah) in Jannah for a lowly house in this transient world.

Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, “Trade is [just] like interest.” But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah . But whoever returns to [dealing in interest or usury] – those are the companions of the Fire; they will abide eternally therein. (Surah Baqarah, verse 275).

Summary
Undoubtedly, riba/usury/interest is haram and a major sin, and if we have engaged in it then we must repent. We must remember that the life of this world is short and fleeting, and that the purpose of our existence is not to lust after beauty and wealth, but rather to worship Allah correctly and live in obedience to Him Subhanahu wa Ta’ala. Just because riba is widespread and common, like zina, pork and alcohol is nowadays, does not make it permissible. When the haram in this dunya seems easy, a productive Muslim should remember his ultimate goal and objective in life.

Source: Productive Muslim

About the Author:

Zahir Abdul Latheef. A philanthropist and a social activist. Life dedicated to the timeless principles of Islam and in striving for a better world. Propagates Islamic message of good living and transparent beliefs. Currently pursuing Engineering studies in Bangalore, India. You can view his blog here: http://newmuslimkerala.blogspot.com

Tags: Riba
ShareTweetSend

Related Posts

Malawi, Huawei Tech Sign Memorandum of Understanding
Business

Malawi, Huawei Tech Sign Memorandum of Understanding

by mmw
July 2, 2023
0
0

Malawi government has signed a Memorandum of Understanding (MoU) with Huawei, a global provider of information and communications technology, to...

Read more

Productivity Key to Malawi’s Economic Growth- Chakwera

Kadzakumanja Starts Offering Online Bussines Lessons

Katawala Joins Business; Urges Muslim Artists to Follow Suit

ESCOM Rolls Out Advanced Efficient Lighting Led Tubes

Freelance Web Solutions Named Best Web & Digital Marketing Agency in Malawi

Please login to join discussion
  • Sheikh Yahya

    Ya Sheikh, Can You Hear Us Weeping? A Community’s Heartfelt Farewell to Sheikh Hubdein Yahya

    0 shares
    Share 0 Tweet 0
  • Broken Trust: How Lack Of Transparency Derailed The Mufti-Abbas University Dream

    0 shares
    Share 0 Tweet 0
  • Police warn Malawians against sending money to unknown Facebook friends

    0 shares
    Share 0 Tweet 0
  • Sacred Care: Muslim Nurse’s Mission of Mercy

    0 shares
    Share 0 Tweet 0
  • Pastor Builds Grass-thatched Mosque

    0 shares
    Share 0 Tweet 0
  • Trending
  • Comments
  • Latest
Sheikh Yahya

Ya Sheikh, Can You Hear Us Weeping? A Community’s Heartfelt Farewell to Sheikh Hubdein Yahya

April 4, 2025
Broken Trust: How Lack Of Transparency Derailed The Mufti-Abbas University Dream

Broken Trust: How Lack Of Transparency Derailed The Mufti-Abbas University Dream

May 4, 2025
Police warn Malawians against sending money to unknown Facebook friends

Police warn Malawians against sending money to unknown Facebook friends

December 24, 2019
Sacred Care: Muslim Nurse’s Mission of Mercy

Sacred Care: Muslim Nurse’s Mission of Mercy

May 1, 2025

Malawian Muslims Chased at Asian Muslims Milad–un-Nabee Feast

78

Supreme Council of Ulama Says Eid Adha Tuesday

28

Fatima Rajab the Guardian Angel, Abandoned for Refusing to Denounce Islam

24

MACRA BANS RADIO ISLAM PROGRAM

20
The Great Muslim Defection: How Malawian Muslims Are Abandoning UDF Loyalty

𝗛𝗜𝗦𝗧𝗢𝗥𝗜𝗖 𝗩𝗜𝗖𝗧𝗢𝗥𝗬: 𝗖𝗵𝗮𝗸𝘄𝗲𝗿𝗮 𝗗𝗲𝗹𝗶𝘃𝗲𝗿𝘀 𝗪𝗵𝗮𝘁 𝟲𝟬 𝗬𝗲𝗮𝗿𝘀 𝗼𝗳 𝗟𝗲𝗮𝗱𝗲𝗿𝘀 𝗡𝗲𝘃𝗲𝗿 𝗖𝗼𝘂𝗹𝗱—𝗢𝗳𝗳𝗶𝗰𝗶𝗮𝗹 𝗥𝗲𝗰𝗼𝗴𝗻𝗶𝘁𝗶𝗼𝗻 𝗼𝗳 𝗘𝗶𝗱 𝗮𝗹-𝗔𝗱𝗵𝗮

June 7, 2025
The Wrong Sacrifice: How Muslims in Malawi Are Slaughtering Community Unity Instead of Goats This Eid

The Wrong Sacrifice: How Muslims in Malawi Are Slaughtering Community Unity Instead of Goats This Eid

June 5, 2025
The Stage He Chose: Dr. Namadingo’s Unscripted Performance in Wakata

The Stage He Chose: Dr. Namadingo’s Unscripted Performance in Wakata

May 10, 2025
Finding Balance – How One Nurse’s Story Inspired a Return to Prayer

Finding Balance – How One Nurse’s Story Inspired a Return to Prayer

May 10, 2025

Connect

Recent News

The Great Muslim Defection: How Malawian Muslims Are Abandoning UDF Loyalty

𝗛𝗜𝗦𝗧𝗢𝗥𝗜𝗖 𝗩𝗜𝗖𝗧𝗢𝗥𝗬: 𝗖𝗵𝗮𝗸𝘄𝗲𝗿𝗮 𝗗𝗲𝗹𝗶𝘃𝗲𝗿𝘀 𝗪𝗵𝗮𝘁 𝟲𝟬 𝗬𝗲𝗮𝗿𝘀 𝗼𝗳 𝗟𝗲𝗮𝗱𝗲𝗿𝘀 𝗡𝗲𝘃𝗲𝗿 𝗖𝗼𝘂𝗹𝗱—𝗢𝗳𝗳𝗶𝗰𝗶𝗮𝗹 𝗥𝗲𝗰𝗼𝗴𝗻𝗶𝘁𝗶𝗼𝗻 𝗼𝗳 𝗘𝗶𝗱 𝗮𝗹-𝗔𝗱𝗵𝗮

June 7, 2025
The Wrong Sacrifice: How Muslims in Malawi Are Slaughtering Community Unity Instead of Goats This Eid

The Wrong Sacrifice: How Muslims in Malawi Are Slaughtering Community Unity Instead of Goats This Eid

June 5, 2025
The Stage He Chose: Dr. Namadingo’s Unscripted Performance in Wakata

The Stage He Chose: Dr. Namadingo’s Unscripted Performance in Wakata

May 10, 2025

Faith Podcast

Swalah 101

Ramadhan

Islamic Finance

Akudziwanji Za Chisilamu

Categories

  • Analysis
  • Business
  • Column
  • Crime and Society
  • Culture
  • Economy
  • Education
  • Entertainment
  • Featured
  • General
  • Health
  • International
  • Lifestyle
  • Opinion
  • Politics
  • Religion
  • Sports
  • Travel

News in Pictures

Amir Jakhura
Amir Jakhura Addressing the Journalists
Some of the beneficiaries

© 2022 Malawi Muslims Official Website -Website by Freelance Web Solutions.

No Result
View All Result
  • Home
  • Religion
  • Business
  • Health
  • Education
  • Entertainment
  • Politics
  • Sports
  • World

© 2022 Malawi Muslims Official Website -Website by Freelance Web Solutions.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00