Library Ethics Greater Sins Chapter 11 Ninth Greater Sin: Usury Some Important Points
Some Important Points
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Some Important Points
1) A transaction involving interest is HarÄm. Charging interest is HarÄm and paying interest is HarÄm too. So if the borrower takes money on interest and uses it and earns some profit, the actual owner of the profit is the lender. For example, if he borrows some wheat and plants a crop, the crop that grows from this, rightfully belongs to the lender. However, if the lender has agreed that his loan can be utilised in such a manner, then the profit from it is the right of the borrower.
2) If one gives an amount to a trader with the understanding that he can return a lesser amount, it is permitted. For example, he gives a thousand Tumans to a trader in Shiraz and agrees to take nine hundred and ninety Tumans in Tehran, he is allowed to do so. This type of transaction is knows as ‘Sarf al-BarÄt’, since there is no involvement of interest.
3) If at the time of disbursement of the loan there had been no mention of interest and the loanee wishes to return the loan amount with an increase out of his own wish, it is not HarÄm. In fact it is Mustahab. It is also Mustahab to repay the loan, if possible, before its due-date or before the lender demands it. It is also Mustahab for the debtor that when repaying the loan he should add something to it with the intention of giving it as a gift to the creditor. But the intention must be of ‘gift’. It must not even remotely be thought of as interest. Similarly, it is Mustahab for the creditor to accept whatever extra is given to him as a gift, not think of it as an interest, and accept it as a goodwill.
