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Assignment of Islamic Finance

Riba in Quran

1. First revelation ( Surah


al-Rum, Verse 39)
ِ‫ل الّننناس‬ ِ ‫ن ّرًبا ّلَيْرُبَو ۟ا ِف ٓيْ َاْمنَوا‬ ْ ‫َوَم ٓا ٰاَتْيُتْم ّم‬
‫ن َز ٰك ن وٍة‬ ْ ‫عْنَد ال ّٰلِه ۚ َوَم ٓا ٰاَتْيُت نْم ّم ن‬ ِ ‫ل َيْرُبْوا‬ َ ‫َف‬
َ ‫ضننِعُفْو‬
‫ن‬ ْ ‫ك ُهُم اْلُم‬ َ ‫ۗل ِٕى‬ ٰ ‫جَه ال ّٰلِه َفُاو‬
ْ ‫ن َو‬ َ ‫ُتِرْيُدْو‬
39‫؀‬
The interest that you give in order to increase the wealth
of the people, does not increase in the sight of Allah; and
the Zakat that you pay in order to win Allah's approval, its
payers do indeed increase their wealth.

Assigned by: Dr. Waheed


Assigned to: Sami Ullah
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Assignment of Islamic Finance

2. Second revelation
(Surah al-Nisa , Verse
161)
ْ‫عْنُه َوَا ْكِلِهم‬
َ ‫خِذِهُم الّر ٰبوا َوَقْد ُن ُ ھْوا‬ ْ ‫ّوَا‬
َ ‫عَتْدَنا ِلْل ٰكِفِرْي‬
‫ن‬ ْ ‫ل ۭ َوَا‬
ِ‫ط‬ِ ‫س ِباْلَبا‬
ِ ‫ل الّنا‬
َ ‫َاْمَوا‬
١٦١‫عَذاًبا َاِلنننْيًما ؁‬ َ ‫ِمْنُهْم‬
and for their charging Riba (usury or interest) while they
were forbidden from it, and for their devouring of the
properties of the people by false means. We have
prepared, for the disbelievers among them, a painful
punishment.

3. Third revelation (Surah


Al ’Imran, Verse 130-132)

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Assigned to: Sami Ullah
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Assignment of Islamic Finance

‫ل َتْا ُكُلوا الّر ٰٓبوا َاضَْعاًفا‬ َ ‫ن ٰاَمُنْوا‬ َ ‫َٰٓايّي َھا اّلِذْي‬


َ ‫حنننْو‬
‫ن‬ ُ ‫ّم ٰضنننعََفًة ۠ َواّتُقنننوا ال ّلن ٰنن َه َلَعّلُكنننْم ُتْفِل‬
ْ‫ى ُاعِ نّدت‬ ْ ٓ ‫َواّتُقوا الّناَر اّلِت ن‬ ١٣٠‫ۚ؁‬
‫لنننن َه‬ ٰ ّ ‫طْيُعننننوا ال‬ ِ ‫َوَا‬١٣١‫ن ۚ؁‬ َ ‫ِلْل ٰكِفِرْينننن‬
١٣٢‫ن ۙ؁‬ َ ‫حُمْو‬ َ ‫ل َلَعّلُكْم ُتْر‬
َ ‫سْو‬ ُ ‫َوالّر‬

O you, who believe, do not eat up the amounts acquired


through Riba (interest), doubled and multiplied. Fear Allah,
so that you may be successful, and fear the Fire that has
been prepared for the disbelievers. Obey Allah and the
Messenger, so that you may be blessed.

Assigned by: Dr. Waheed


Assigned to: Sami Ullah
Reg No: Ciit/SP08-MBE-045 Page 3
Assignment of Islamic Finance

4. Fourth revelation
(Surah al-Baqarah, Verses
275-281)
‫ل َكَما‬ّ ‫ن ِا‬ َ ‫ن الّر ٰبوا‬
َ ‫ل َيُقْوُمْو‬ َ ‫ن َياُْكُلْو‬َ ‫َاّلِذْي‬
َ ‫س ٰذِل‬
‫ك‬ ّ ‫ن اْلَم‬ َ ‫ن ِم‬ُ ‫شْي ٰط‬ ّ ‫طُه ال‬ ُ ‫خّب‬
َ ‫ي َيَت‬ْ ‫َيُقْوُم اّلِذ‬
ّ‫ح‬
‫ل‬ َ ‫ل الّر ٰبوا ۘ َوَا‬ ُ ‫ِبَاّن ُھْم َقاُل ْٓوا ِاّنَما اْلَبْيُع ِمْث‬
‫ج ۗاَء ٗه‬
َ ‫ن‬ ْ ‫حّرَم الّر ٰبوا ۭ َفَم‬ َ ‫ال ّٰلُه اْلَبْيَع َو‬
ۭ ‫ف‬َ ‫سَل‬
َ ‫ن ّرّب ٖه َفاْنَت ٰهى َفَل ٗه َما‬ ْ ‫ظٌة ّم‬ َ‫ع‬ ِ ‫َمْو‬
َ ‫عاَد َفُاوٰۗل ِٕى‬
‫ك‬ َ ‫ن‬ ْ ‫َوَاْمُرٗٓه ِاَلى ال ّٰلِه ۭ َوَم‬
٢٧٥‫ن ؁‬ َ ‫ب الّناِر ۚ ُھْم ِفْيَها ٰخِلُدْو‬ ُ ‫ص ٰح‬ ْ ‫َا‬
But those who devour interest become like the one whom
Satan has bewitched and maddened by his touch. They
have been condemned to this condition because they say,
"Trade is just like interest”, whereas Allah has made trade
lawful and interest unlawfu1. Henceforth, if one abstains
Assigned by: Dr. Waheed
Assigned to: Sami Ullah
Reg No: Ciit/SP08-MBE-045 Page 4
Assignment of Islamic Finance

from taking interest after receiving this admonition from his


Lord, no legal action will be taken against him regarding
the interest he had devoured before; his case shall
ultimately go to Allah. But if one repeats the same crime
after this, He shall go to Hell, where he shall abide forever.

ُ‫ت ۭ َوال ّل ٰن ه‬
ِ ‫ص نَد ٰق‬
ّ ‫ق ال ّٰلُه الّر ٰبوا َوُيْرِبنني ال‬
ُ‫ح‬َ ‫َيْم‬
٢٧٦‫ل َكّفاٍر َاِثْيٍم ؁‬ ّ ‫ب ُك‬
ّ ‫ح‬ ِ ‫ل ُي‬
َ

Allah deprives interest of all blessing and develops charity;


and Allah does not like an ungrateful, sinful person.

‫ت َوَاَقنناُموا‬ِ ‫ص نِل ٰح‬ّ ٰ ‫عِمُلننوا ال‬ َ ‫ن ٰاَمُنْوا َو‬َ ‫ن اّلِذْي‬


ّ ‫ِا‬
‫عْن نَد‬
ِ ‫جُر ُھ ْم‬ ْ ‫ص ن ٰلوَة وَ ٰاَت نُوا الّز ٰك ن وَة َل ُھ مْ َا‬ّ
َ ‫حَزُننْو‬
‫ن‬ ْ ‫ل ُھ ْم َي‬ َ ‫عَلْيِهنْم َو‬
َ ‫ف‬
ٌ ‫خنْو‬َ ‫ل‬َ ‫َرّبِهْم ۚ َو‬
٢٧٧‫؁‬

Assigned by: Dr. Waheed


Assigned to: Sami Ullah
Reg No: Ciit/SP08-MBE-045 Page 5
Assignment of Islamic Finance

As to those who believe and do good deeds, establish the


Salat and pay the Zakat, they will most surely have their
reward with their Lord and they will have nothing to fear
nor to grieve.

َ‫ن ٰاَمُنوا اّتُقوا ال ّل ٰن هَ َوَذُرْوا َمننا َبِق ني‬ َ ‫ٰٓيَاّيَها اّلِذْي‬


٢٧٨‫ن ؁‬ ْ ‫ن الّر ٰٓبوا ِا‬
َ ‫ن ُكْنُتْم ّمْؤِمِنْي‬ َ ‫ِم‬

O Believers fear Allah and give up that interest which is


still due to you, if you are true Believers;

ِ‫ن ال ّ ٰلنن ه‬
َ ‫ب ّمنن‬ ٍ ‫حننْر‬ َ ‫ن ّلننْم َتْفَعُلننْوا َفنناَْذُنْوا ِب‬
ْ ‫َفننِا‬
ۚ ‫س َاْم نَواِلُكْم‬
ُ ‫ن ُتْبُت نْم َفَلُك نْم ُرُءْو‬ْ ‫سْوِل ٖه ۚ َوِا‬ ُ ‫َوَر‬
٢٧٩‫ن ؁‬ َ ‫ظَلُمْو‬
ْ ‫ل ُت‬َ ‫ن َو‬ َ ‫ظِلُمْو‬ْ ‫ل َت‬ َ
but if you do not do so, then you are warned of the
declaration of war against you by Allah and His
Messenger. If, however, you repent even now (and forego
interest), you are entitled to your principal; do no wrong,
and no wrong will be done to you.

Assigned by: Dr. Waheed


Assigned to: Sami Ullah
Reg No: Ciit/SP08-MBE-045 Page 6
Assignment of Islamic Finance

ۭ ‫س نَرٍة‬
َ ‫ظ نَرٌة ِا لٰن ى َمْي‬ ِ ‫س نَرٍة َفَن‬
ْ‫ع‬ُ ‫ن ُذْو‬ َ ‫ن كَننا‬ ْ ‫َوِا‬
َ ‫ن ُكْنُت نْم َتْعَلُم نْو‬
‫ن‬ ْ ‫خْي نٌر ّلُك نْم ِا‬
َ ‫ص نّدُقْوا‬
َ ‫ن َت‬ْ ‫َوَا‬
٨٠‫؁‬
If there is one in misery, then (the creditor should allow)
deferment till (his) ease, and that you forgo it as alms is
much better for you, if you really know.

ّ‫ن ِفْينِه ِاَلننى ال ّلٰن ِه ۼ ُثنم‬


َ ‫جُعْو‬
َ ‫َواّتُقْوا َيْوًما ُتْر‬
َ ‫ظَلُم نْو‬
‫ن‬ ْ ‫ل ُي‬
َ ‫ت َو ُھ ْم‬ ْ ‫سَب‬ َ ‫س ّما َك‬
ٍ ‫ل َنْف‬ّ ‫ُتَو ّٰفى ُك‬
٢٨١‫ۧ؁‬

Assigned by: Dr. Waheed


Assigned to: Sami Ullah
Reg No: Ciit/SP08-MBE-045 Page 7
Assignment of Islamic Finance

Be fearful of a day when you


shall be returned to Allah, then every person shall be paid,
in full, what he has earned, and they shall not be wronged.

Assigned by: Dr. Waheed


Assigned to: Sami Ullah
Reg No: Ciit/SP08-MBE-045 Page 8