Accruing Stupidity
Sayyid Shaykh Muhammad al-Ya'qoubi answers many burning questions from Muslims here. Question #14 is interesting:
At one of your light study sessions, it was mentioned that Muslims were allowed to give mortgages to non-Muslims and take interest, but not allowed to take mortgages themselves. At a later date, you explained that this is to deprive the non-Muslim of wealth in this world. Hence, the question I pose is, are we allowed to have interest bearing accounts and also invest where we know there is a guaranteed element of interest to be generated to the policyholder from the varying financial products?
Part of the answer:
According to the Hanafi School, we are allowed to charge interest over a loan we give to a non-Muslim in the non-Muslim land. Under no circumstances are we allowed to borrow money and pay it off with an interest, whether regardless of the lender and the land; it is absolutely haram.
Let's get this straight. Loaning money and charging interest is perfectly alright if the borrower is a non-Muslim. Otherwise, no deal.
And note, this is supposed to deprive and hurt the infidels!
Questions: There are tons of people who need capital to start and maintain their businesses. If rich Muslims can only charge interest when the person who needs the cash is a non-Muslim, then who benefits? Does the "No Interest" rule hurt Muslims or non-Muslims?
I think you can answer the simple questions. It's amazing that these paragons of morality shape their policies out of spite but in reality end up hurting their own brothers.
The Prophet Muhammed (PUBH) deserves credit for this asinine rule:
- Sahih Bukhari: Volume 3, Book 38, Number 506. This one is funny. Good to know that Mo came down hard on issues that mattered.
- Sahih Bukhari: Volume 6, Book 60, Number 67.
- Sahih Bukhari: Volume 7, Book 63, Number 259. Do read the last few words of this one.
- Sahih Bukhari: Volume 7, Book 72, Number 845.
- Sahih Bukhari: Volume 8, Book 82, Number 840.
- British Islamist: Muslims Should Humiliate Christians In Order To Make Them Convert To Islam
From MEMRI: Abu Waleed: How many contradictions do the Charter of the United Nations and Islam have? We take what Abdullah Ibn Abbas said, because he was a Companion, from the greatest commentators on the Koran. He said to take the jizya poll tax from...
- Islamic Punishment For Apostasy
Josh Scholar asks me to comment on this video.Basically, the speakers say that the Quran does not lay down a punishment for apostasy. I think that is false. However, Islamic law and practices are not derived solely from the Quran. And when one takes into...
- Capturing The Islamic World
Josh Scholar asks in the comments:For a long time I've wondered if there was (to some small extent) a connection between Islam's prohibitions on art and it's emphasis on triumphalism (conquest, hostility etc). It's as if without fantasy,...
- The Allah Of The Quran
Abul Kasem wrote essays for Islam Watch about the Allah of the Quran. Who is Allah? What are his 'trademarks'? What are his characteristics? What pleases him? Where did Allah originate from? All in all, the essays got published throughout the...
- A Response To Barbara Schuddeboom's Criticism Of Aha
Dear Barbara Schuddeboom, I too am in the teaching profession, and have dealt with many Muslim youths and their families. You said, “I really can't see what mrs Magan contributed to emancipate this group.” Ayaan Hirsi Ali has brought to attention...