{"id":6332,"date":"2023-06-15T08:22:24","date_gmt":"2023-06-15T08:22:24","guid":{"rendered":"https:\/\/ifg.local\/articles\/dealing-in-riba-is-permissible\/"},"modified":"2023-09-11T16:57:22","modified_gmt":"2023-09-11T16:57:22","slug":"dealing-in-riba-is-permissible","status":"publish","type":"post","link":"https:\/\/www.islamicfinanceguru.com\/articles\/dealing-in-riba-is-permissible","title":{"rendered":"Dealing in riba is permissible | Are there any credible arguments? – Islamicfinanceguru"},"content":{"rendered":"
\n\n\n\n
1. There is no riba when transacting with a non-Muslim in non-Muslim lands<\/a>
\n2. The principled argument<\/a>
\n3. Abbas ibn Abd Al Mutalib\u2019s riba<\/a>
\n4. Abu Bakr & Prophet betting<\/a>
\n5. Some extend it to mean general benefit to Muslims<\/a>
\n6. Riba is in principle haram in all times and places<\/a>
\n7. Even if the Hanafi argument works \u2013 you can\u2019t give riba<\/a>
\n8. Is the hadith Sahih?\u00a0<\/a>
\n9. Hadith can be interpreted in a different way<\/a>
\n10. The hadith of Al Abbas is not relevant<\/a>
\n11. The \u201cgambling\u201d of Abu Bakr and the Prophet is not relevant\u00a0<\/a>
\n12. The Companions didn\u2019t do it\u00a0<\/a>
\n13. We are not living in Dar al Harb<\/a>
\n14. In defence of the Hanafis: we are not in dar al-harb and this is a comment on political theory\u00a0<\/a>
\n15. Conclusion<\/a>
\n16. References & Notes<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

<\/a><\/p>\n

We all know that riba is haram in Islam. That is an uncontroversial statement given the Qur\u2019an is really explicit about it:<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cBut whoever returns (to riba), such are the dwellers of the Fire \u2014 they will abide therein\u201d [2:275]\u00a0<\/span><\/i>\u00a0<\/span><\/p>\n

\u201cAnd if you do not do it, then take a notice of war from Allah and His Messenger\u201d [2:279]<\/span><\/i>\u00a0<\/span><\/p>\n

But there are some who say:<\/span>\u00a0<\/span><\/p>\n

    \n
  1. \u201cRiba\u201d does not mean the interest of banks today, and therefore it is halal to transact in bank interest today; or\u00a0<\/span><\/li>\n
  2. \u00a0There is no riba when transacting with a non-Muslim in non-Muslim lands.\u00a0 <\/span>\u00a0<\/span><\/li>\n<\/ol>\n

    In this article we focus in on (2). We will address (1) in a future article.<\/span>\u00a0<\/span><\/p>\n

    My argument in summary is:<\/span><\/strong> We do not live in <\/span>dar al-harb<\/span><\/i>, and so the point is a moot one. Even if we did, the classical Hanafi argument only allows for the taking of riba not the giving of it (e.g. taking out a mortgage).\u00a0<\/span>\u00a0<\/span><\/p>\n


    \nThere is no riba when transacting with a non-Muslim in non-Muslim lands<\/span>\u00a0<\/span><\/h2>\n

    This is a famous historic debate where Imam Abu Hanifa (and some but certainly not all Hanafis) are of the view that there is no riba when transacting with a non-Muslim in non-Muslim lands.\u00a0<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

    The crucial hadith that is at the heart of this argument is:<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

    \u0644\u064e\u0627\u202f\u0631\u0650\u0628\u064e\u0627\u202f\u0628\u064e\u064a\u0652\u0646\u064e\u202f\u0645\u064f\u0633\u0652\u0644\u0650\u0645\u064d\u202f\u0648\u064e\u0643\u064e\u0627\u0641\u0650\u0631\u064d\u202f\u0641\u0650\u064a\u202f\u062f\u0650\u064a\u064e\u0627\u0631\u0650\u202f\u0627\u0644\u062d\u064e\u0631\u0652\u0628\u0650<\/p>\n

    \u201cThere is no riba between a Muslim and a non-Muslim in dar al-harb (a state of war)<\/em>.\u201d\u00a0 <\/span>[Al-Ma\u2019rifah (Bayhaqi) discussed in Hidayah (Al-Marghinani) and Al-Umm (Shafii)]<\/span><\/i>\u00a0<\/span><\/p>\n

    This is a mursal hadith (where the Companion has been missed out from the chain) from Mak\u2019hool[<\/span><\/a><\/span>1]<\/span><\/a>, a Tabi\u2019 and expert in fiqh (Islamic jurisprudence). The Hanafis have a principle that differs from others in methodology when it comes to ahadith narrated by experts \u2013 even if they are weak. They will accept such ahadith, or at the very least give them more credence than others who may dismiss them out of hand.<\/span>\u00a0<\/span><\/p>\n

    But let us discuss the argument \u201cis this even a reliable hadith\u201d later. For now, let\u2019s complete the Hanafi argument.<\/span>\u00a0<\/span><\/p>\n

    There is some debate among the leading Hanafi Imams[<\/span><\/a><\/span>2]<\/span><\/a> <\/span>on the exact position:<\/span>\u00a0<\/span><\/p>\n