40 on Justice: The Prophetic Voice on Social Reform by Omar Sulaiman

Author:Omar Sulaiman [Sulaiman, Omar]
Language: eng
Format: epub
Tags: Religion, islam, Koran & Sacred Writings, Social Science, Islamic Studies
ISBN: 9781847741448
Google: wfsszgEACAAJ
Publisher: Kube Publishing Limited
Published: 2021-02-15T23:25:30.524951+00:00

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WHY IS USURY (RIBĀ) PROHIBITED?

Sulaymān ibn ‘Amr narrated on the authority of his father: I heard the Messenger of Allah  say in the Farewell Pilgrimage: Lo, all claims to usury of the preIslamic period have been abolished. You shall have your capital sums, deal not unjustly and you shall not be dealt with unjustly.

IN THE PREVIOUS CHAPTER, we looked into the topic of greed and when we begin to peel back the layers of social injustice, we find that the majority of social injustice is in some way connected to greed. Social injustice draws from the fountain of greed, and we were able to touch on the spiritual elements of it in the previous chapter. Now, however, we can move on to the outwardly aspects of greed, and one of its greatest manifestations is usury or interest (ribā).

The Hadith that I have chosen to begin with is narrated by Sulaymān ibn ‘Amr, on the authority of his father: “I heard the Messenger of Allah  say in the Farewell Pilgrimage, ‘Verily, all claims to usury of the pre-Islamic period have been abolished. You shall have your capital sums, deal not unjustly and you shall not be dealt with unjustly.’”120 The farewell sermon of the Prophet  contained the many ethical guidelines that are required for a community to function properly, with the first and foremost being the abolishment of racism and other forms of social injustice. The abolishment of usury brought a great change into how finances would work within the Muslim community and holds great relevance to our lives today for several reasons such as:

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