Detailed Description
In the modern financial landscape, the practice of charging interest has become commonplace. However, Islam unequivocally prohibits riba, considering it a grave sin with severe consequences. Riba: Usury or Interest by Imtiaz Ali delves into this critical subject, shedding light on the concept of riba, its historical context, and its prohibition in Islamic teachings.
Significance in Islamic Teachings
The Qur'an sternly warns against engaging in riba:
"O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers. And if you do not, then be informed of a war [against you] from Allah and His Messenger."
— Surah Al-Baqarah (2:278-279)
This booklet emphasizes the spiritual and societal harms of riba, urging Muslims to adhere to Islamic financial principles.
Key Features
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Author Background: Imtiaz Ali is a respected Islamic scholar known for his works on Islamic jurisprudence and finance.
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Comprehensive Coverage: The book discusses:
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Definitions of usury, interest, and riba
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Riba in pre-Islamic Arabia
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Qur'anic verses and Hadiths on riba
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Reasons for the prohibition of interest in Islam
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Perspectives of non-Muslims on interest
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Interest-free banking systems in the Muslim world
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Case studies, including interest practices in Trinidad and the Muslim Credit Union
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Authenticity: Grounded in the Qur'an and authentic Hadiths, ensuring reliable guidance.
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Accessible Language: Written in clear English, making complex concepts understandable for all readers.
Benefits for the Reader
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Spiritual Growth: Enhances understanding of Islamic financial ethics.
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Knowledge Enhancement: Provides insights into the detrimental effects of riba on society.
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Practical Application: Offers guidance on avoiding riba in personal and business transactions.