The Trouble with Riba (interest) explained | Almir Colan

Dive into Riba, learn about its history and impact.
In this video, we explore the subject of riba 💰 (interest, usury), its prohibition, and historical context. We also analyse common Riba situations and compare Islamic vs conventional finance.
Download slides at www.almircolan.com/blog/troub...
Topics
0:00​ Introduction
0:38 Meaning of Riba
2:16 Prohibition of Riba
3:54 Simple Ribawi Transactions
6:36 Parties Involved in Riba Transactions
8:51 Riba in Previous Nations
9:12 The Bible on Riba (Ribit)
12:17 The Merchant of Venice Story
14:07 Shylock "Sammy the Bull"
15:49 Wisdom Behind the Prohibition of Riba
17:16 Programming of Riba
17:46 The Fall of the Ottoman Empire
20:49 Types of Riba
24:28 Rules for Riba
27:59 Examples of Riba
38:03 Conventional vs. Islamic Finance
44:07 Basic Modes of Finance
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#Islam #Riba

[@AlmirColan]

Lecture slides now available at my website at www.almircolan.com/blog/troublewithriba (consider subscribing to my email updates if interested in this topic)

[@anashashmi]

I’d like to share a simple explanation why it’s wrong. I told this to a young banker (who asks everyone the question why) and the person understood it with satisfaction for the first time. Imagine a village with a hundred people and they have a barter system (wheat for onions). A guy lives up the mountain and he has a wonderful idea. He creates new coins and issues these coins as dollars. He feels this will facilitate trade in a very simple way. He issues the coins as loans. One dollar per person, so he issues $100. He charges 5% interest. And conditions the loan to be paid precisely one year later. Trade goes up in economy, booms and everybody is able to have a job and do more than that. One year later: they have to return the money. Some people have more money than one dollar and are able to pay off the loan. Some people have less than one dollar and cannot pay off the loan. So he issues new loans to those who can’t pay it off. But the game is rigged! 100 people receiving $100 with 5% interest means one year later the mountain man should get $105. But the 5$ doesn’t exist! 😮 Someone will always be unable to pay off their loan! That’s just math. Where does the 5$ come from? The man issues 5$ as a new loan WITH interest. The 5$ never existed. And it never will. And neither will the new interest that is to be charged. I hope you read this.

[@mna7308]

Riba, yes of course, do you know many Muslim majority countries hold u.s Treasury bonds and it enables riba to spread around the world because the other countries use dollar to purchase Muslim majority countries oil for energy use??

[@tuulo-cw9bn]

Mashalah, thank you brother for this insightful explaination. Shukran.

[@shh11111]

It would be nice if we could see the lecture slides in the video too. Please take some measure for it.

[@mikhoozagsar2584]

I challenge you to answer this question honestly! What is better for an individual and societies if someone buys a $200k house through a bank with 0.0005(just for the sake of argument) of INTEREST rate or buy it from an Islamic bank for $300k( same House for 15 years mortgage)?

[@TheAmbientJournal]

very insightful and scary to see how the economy is inflated beyond what we can actually produce. This made me realise how important it is for the world to adopt islamic-global finances to prevent such evil.

[@S0L4RFlare]

😂 It's an instrument pegged to the inflation rate and growth rate of economy... developing countries have positive IR while developed ones have zero or negative IR. It is not free money. It is a trade of asset. Ask any bank, a loan is an asset that is traded between banks.

[@S0L4RFlare]

You are against interest but arbitrage. Which is free money with no investment.

[@SheikhZedoo]

​@@S0L4RFlarefree money only when you are getting it.

[@earlysda]

9:12 Almir shows us that either he is intentionally lying, or else he hasn't read the entire Holy Bible. 1. First, there is no prohibition against taking interest in the Holy Bible, except that you are not to take interest from poor people: Exodus 22:25 If thou lend money to [any of] my people [that is] poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury. . 2. You are not to get interest from a "brother", which, in context, means anyone from your own nation: Deuteronomy 23:19 Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury: 20 Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury: that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it. . Wait! We see from the above text that God allows usury to be taken from a stranger! . Let's start reading and believing what the Holy Bible says, and follow the Son of God - Jesus Christ.

[@randomlygeneratedname7171]

⁠@@S0L4RFlareYou confuse usurious loans for trade.

[@AlmirColan]

I recorded this for all the new visitors who are learning about the wisdom behind the prohibition of Riba for the first time. I would love to hear the useful points you gathered from this lecture and what else you would like me to cover.

[@michaelmalzahn-tx2zi]

i bought my first house when i was 23 with a nonqualifing fha [federal housing authority] mortgage. the original loan was from 1984 at 13%. i refied down to 9% in 1993. this allowed me to own a home rather than to continue to pay rent. why would this be bad?

[@mouhamadoutaffa5064]

May Allah rewards you and preserves you . Ameen!

[@MohamedMohamed-ep1pu]

@@michaelmalzahn-tx2zi because even though it is not directly bad for you, but it is bad for the economy since it is a sale of dept not of asset which inflates the economy will in the long run affect you (as we are seeing now adays). Also it is not just about you but it is about the society that functions around you, which has the right to a non inflated economy. make sure to rewatch the lecture because this was explained.

[@michaelmalzahn-tx2zi]

@@MohamedMohamed-ep1pu no, it is a sale of an asset, the house. in order to move that sale forward one takes a loan at interest. this is much better than paying rent for 30 years and having nothing to show for it after those 30 years. if you buy the house, then you own the house at the end of the mortgage. home ownership is one of the best things for an economy. "has the right to a non inflated economy" how can you claim such a right? if a bird flu wipes out a percentage of the chickens being raised for food, the price of chicken is going to go up. so tell me. if a country wants to build a massive infrastructure project, let's say a road and rail system that doesn't exist, they can't issue bonds to fund it? is this why so many islamic countries, the one's not sitting on massive oil reserves are so under developed?

[@AlmirColan]

@@michaelmalzahn-tx2zi Many unethical practices in life, including gambling and alcohol, might seem justifiable when judged solely from an individual’s perspective.

[@shahnazmalik2399]

Riba is prohibited in all Divine faiths it is the main reason for destruction of humanity and is a major sin may ALLAH guide and protect us from it and reward you for these eye opening truths Aameen YARABB

[@WAYOFLIFESQ]

Mashallah barakallah What a beautiful explanation Mashallah barakallah learned so much

[@mna7308]

Riba, yes of course, do you know many Muslim majority countries hold u.s Treasury bonds and it enables riba to spread around the world because the other countries use dollar to purchase Muslim majority countries oil for energy use??

[@shahriarchowdhury7871]

yooo it's SQ! Salaam!

[@MonkeyDLuffy-oc9cd]

Subhan Allah this is so important for the ummah but unfortunately not everyone comes accross such important videos

[@ahmedalshalchi]

May Allah bless you bro Almir Colan for this great presentation of RIBA issue... I wish I can have a tool to publicize this video to whole world at once ...

[@AlmirColan]

🤲

[@spiritzen]

Loved the history and reference to Shakespeare and Judaism. Very good presentation, MashaAllah

[@shahriarchowdhury7871]

mashaAllah, a funny coincidence: I found this video of yours next to a news video on why Russia is implementing Islamic finance in banks on my KZbin recommendation. SubhanAllah, may Allah help us all learn from your explanations

[@khalidiqbal5567]

Salaam Almir Colan, Good to see you here and presenting your wonderful insights. Thanks for sharing.

[@mohdabdullah95]

Very well explained. MashAllah.

[@koopakoop]

Very interesting lecture. I did not know Almir Colan before, but I listened to the entire lecture (and subscribed). Thank you.

[@horumarinoloshaada1848]

Wonderful and insightful discussion. Jazakallah khayr

[@fairozjamadar9800]

Alhamdulillah, Jazakallha bilkhair, my brother.

[@Tintmyridedenver]

You are helping me so much making the right decisions for my business. I started when I was 20 years old and I have not used RIBA Alhamdulilah. It has been very difficult and recently I am trying to grow my business, but it seemed impossible before finding this channel. Thank you brother.

[@AlmirColan]

Join our new platform - it would be good to hear your story www.muslimmoneymatters.com

[@FarhanAbdi-eq2it]

Mansha Allah" great explanation.

[@iwannoviyanto9222]

MasyaAllah,,,barakalluhufikum brother

[@margallaltd]

جزاک اللہ خیرا

[@alomondot]

This is a wonderful and beneficial lecture for all Muslims. May Allah prolong your life and give you protection.

[@1x0x]

even non muslims can benefit from learning the dangers of riba

[@sulmanb]

Very clear and extremely well explained. Thank you brother

[@MA-rj1wf]

Brilliant, thank you Almir, that was very informative!

[@Bangladeshinspirit]

thank you brother for explaining of riba from core.Jajakallahu khairan

[@MrMatGila]

Assalamualaikum brother. Very insightful and easy to digest video. Very concise and clear. I found your earlier and shorter video on riba first. The one explaining about cdo and sub primes and how it let to the property bubble burst. I saw rhe movie "the big short" years ago, didnt fully understand how the burst actually came about and happen, but your video did an excellent job in explaining the whole premise of the movie. Its really sad when people are left homeless and broke. And people are hoping that you will default on your loans so they will earn from insurance from your resulting failure. Thanks brother. Good stuff

[@isc77777]

JazakAllahu khairan, barakallahu feek

[@aboudeh_]

Allahuma barek i can say i dont need to listen again topics about riba you nail it and we got it .

[@zillboy]

Thanks 🎉 very useful knowledge 👍🏻

[@drmoslemanoar]

jazakAllah khayr brother

[@kotbimohamed4184]

بارك الله فيكم

[@ejistop6123]

JazakAllah Khair, thanks

[@shahidshaikh7880]

Very good lecture. Allah reward you plenty.

[@shamsham1983]

May there be more knowledgeable muslim teachers like you in this world

[@johnnypham2850]

GREAT TOPIC

[@putnicesaquranom]

جزاك اللهُ خيرًا

[@s.j.cook_s]

Masha Allah, brother, may Allah bless you, your family and what you do to spread the message of Our Prophet, peace be upon him ❤

[@youngmuslim577]

بارك الله فيك

[@margallaltd]

Insightful!

[@anzalkhan8118]

This was amazing. Jazakallahu Khayr Akhi Almir. I would like you to go in more detail on transactions between the same type of good covered in the hadith for eg. gold for silver, wheat for barley, etc. Knowledge of permissible/prohibited in these types of transactions is not there amongst general muslims.

[@ducgivaful]

jazakallahuakran kasiraa

[@AbdulmuttalibGarba]

Thanks Almir, I have worked in "Conventional" Finance and particularly Corporate Finance for 5 years now. I build cashflow and securitization models. I have been following your explanations for a week, thankfully your video came up again. I also partticularly stressed Musharaka Mortgages only to notice that it greatly reduces, possibiy eliminates "Contagion" associated with recovery processes in a down market. I am more than willing to switch to any role for developing SC Products! Many many thanks...Jazakallah Khayran

[@ob1934]

as salamu alaikum. bit of a random question but, why is your name abdul muttalib? muttalib isnt a name of Allah as far as I know its just "slave of one who seeks".

[@earlysda]

Jesus himself says it is better to get interest than to have no returns on your money at all in Matthew 25:27.

[@_Z.K_]

@@earlysdaJesus himself said so? In a book called Matthew? I hope you can see the flaw.

[@earlysda]

@@_Z.K_zakaria, you see, this video is especially directed at people who profess belief in the Qur'an and Holy Bible, to at least some degree. So to someone like yourself who does not believe in either of those books (it seems), it will seem strange. That doesn't make it any less true, because Jesus Christ is the Way, the Truth, and the Life.

[@_Z.K_]

@@earlysda I think you missed the point in my original comment, which attempted to highlight the fact that you take Matthew as verbatim Jesus commentary - despite Matthew being an unknown author of the book. ‘He said/she said’ scripture, which has been modified many times. I believe in the Verbatim words of God through the preserved scripture of the Qur’an, revealed to the final messenger Muhammad, peace be upon him. I invite you to read the Qur’an with an open heart and mind.

[@IbrahimDrammeh-rd5jy]

Mash'Allahu may Allah protect us from fitna Ameen. Salam from west Africa the Gambia

[@sharifahaljofree7278]

On point👍

[@mick7916]

Jazzak Allah khair

[@sundalwood]

The person who edited this wonderful speech, DID NOT DO JUSTICE. Probably to shorten the length. He put the words soTIGHTLY, that it became painful to hear. It appears a very “breathless “, GOD, Please record and post as is!

[@eagle43257]

Thank you very much

[@mumtazshamsee5029]

Thanks!

[@delwarhussen3041]

wonderful and I subscribed , May Allah bless you dear

[@kamola5570]

SubhanAllah, this makes me think about all the market manipulation done at Wall Street. Futures, Commodities trading without actual exchange of goods, derivatives, etc.

[@abdulrazzakx7013]

Mashallah ♥️

[@uniqueviewsnews]

Honour to listen to you

[@zack2768]

Something so simple but essential. Money to something then something to money.

[@Allahu_Akbar_the_one]

May Allah grant you the highest level of Jennah for your great explanation and teaching

[@hassangillani7457]

excellent ,may Allah save you from arrogance and pride(result of deep knowledge)

[@bengully5076]

May Allah bless you Habibi. Very clear. Need more real Life examples. Less hypothetical Otherwise very clear

[@nailachou1174]

The global GDP for 2023 of the real economy is estimated to be $105 trillion whereas the global debt currently stands at $305 trillion with a US national debt of almost $33 trillion. What are the expected consequences of US and the world not being able to sustain their debt and interest repayments and given debt to gdp ratio is continuing to increase.

[@user-zk3uh1nq9z]

Thank you this is quite helpful. What about adding penalty fees in case of not paying the agreed monthly amounts?

[@nusaibahibraheem8183]

I also have a question about that. It might be seen as a clever way to still collect interest.

[@user-zk3uh1nq9z]

@@nusaibahibraheem8183 yup that is being objection on Islamic banking, I haven’t been able clear it up for long. I have joined Almir’s community to better understand the topic and discuss the issue.

[@user-nu1sd2rm6d]

Thank you Mr. Almir Colan for the further clarification. What can a person do if let's say for example, he sends money from a european country to his homeland such as mine being Afghanistan. Exchanging Euros to Afghani, transfer markets have rule where they get to send money but will charge you let's say 5euros for every 100euros. So i think this will be riba as the party is only benefiting from the increase. I hope you can clarify it Sir.

[@AlmirColan]

That fee is for sending money and not riba. Anything that we charge for real service is fine. Commission, service fee, agency fee etc is ok.

[@DialloDanedjo]

​@AlmirColan thank you for the clarification 🙏 I had the same question may Allah bless you 🙏 ❤

[@dominicdriman1319]

Jazzak Allahu khayran. What have the ulema said about gold for silver, is that considered same for same?

[@1aninterpreter1]

I really appreciate your efforts to teach islamic economics, brother Almir. I have always thought much about interest and usury and which is rib'a. I would think that if there is no benefit in lending no body would lend and that society's businesses would be deprived of much needed loans.

[@noellebazzi5618]

Home loans are tripled increase by the mortgage amortization not as simple interest which is more human 😢

[@noellebazzi5618]

But si

[@noellebazzi5618]

Still not humanitarian banking and financial investment had made the values reach an illusionary unrealistic point that the poor are more poor and the rich richer what is Soo Good in a system like that that does not serve all humanity ? NONe😢

[@1aninterpreter1]

That's understood Noelle, but why are there not Muslim banks offering these loans to Muslims in the world? Why aren't these ideas practiced in the muslim countries?@@noellebazzi5618

[@zhamed9587]

Barak Allah fikom brother Almir. Question: at 39:11 you displayed a slide about how interest based debt is much larger than the actual value of the goods and services, and then you said if people returned a few percent, you can't fulfill the returns from the actual values. How does selling an asset/product for more than its current cash value in exchange for time and installments not fall under the same case (what they call "Murabaha" today) and also cause the same issue if people owed the debt decide to get returns? Or does it not work out that way in Murabaha?

[@cattocs]

Interesting point. Leaving my mark here to get back if someone answers. I think murabaha is different from installment. In case of installment, my guess is because it doesn't create additional syntethic, fictional value. The price is clear at the start of the contract. The final price is not floating. If there's interest outside of the aggreed price (be it annual or because of late payment), that causes additional value that should not exist.

[@hdufhbnjgr5491]

I think the fixed rate itself if we look in a bigger picture of financial system framework serve as a shield or a protection mechanism of the value of the money thru demand and supply and overall value of the goods and services in an economy from depreciating or appreciating or fluctuate in a sense of going far off from its actual value and risking of debtor from short of cash to fullfiled their loan installments... Hence once the demand and supply of money in circulation are fixed or stabilized ,the only way of generating economic growth is thru real value creation in the economy thru producing more goods services interm of quality and quantity of the services and products available in the market hence generating a real growth to the economy not thru speculating superficial factors ..Once economy growth are driven or moved towards that way ,more and more healthy loans are needed from banking system and the money from the banking system will flow back into the market creating more productive economic growth ,real appreciating of value of money itself,improving buying powers of people and hence generate more value to the money itself and the economy as a whole....As buying power increase there's more plenty of money left for general public to spend more and making its more easy for them to repay their loans in the future .Meaning more money will circulate back into the market generating more economy opportunities for those taking loans to pay back their loan more ease as time goes by or this cycle or system being maintained down the road...thats my two cent opinion of mine on it

[@freedmirza3919]

Assalamu Alaikum, I'm in the UK and new to Islamic finance. I want to learn about buying property to rent out, avoiding Usury, and setting an ethical renting model. Any book recommendations or advice? Your help is much appreciated. Thank you.

[@rsalleh1969]

When we want to buy a property through an Islamic Finance, does that mean that both parties bear the profit and loses? How is the proportion of the profit or lose, when it came to realisation?

[@haris1328]

Your views on currencies around the world, as they have different exchange rates( higher quality exchanges for lower quality). Thanks

[@huzaifaahmed5870]

Very informative lecture MashaAllah! Would love for you to make a video on the effect of Riba on the wider economy. In other words, why riba leads to econmic turmoil, inflation and income inequality. JazakAllah Khairun

[@huzaifaahmed5870]

@@takiyaazrin7562 I don't see the relevancy... So what's your point?

[@mymore195]

What about money transaction? It involves, buying money with money called exchange rate and profits called fees? Thank you

[@Idris.1994.Norway]

JazakhAllahu khayran! Wish it was possible to translate to arabic text so that our parents could hear and understand this.

[@isc77777]

why don't you translate it yourself?

[@gunterblum9088]

mashallah good lecture brother almir but one question, if erdogan did the right thing to decrease the intrests why was it unseccussfull? was there a mistake?

[@sumiahb]

You mentioned Turkiye embarking PPP. What exactly is it?

[@hamidahlawrence9786]

Thank you my brother in Islam for this very important and needed presentation on RIBA. It’s one of the least understood topics in Islam. My question is about Turkey where I presently live. Turkey has recently taken billions of dollars in loans from IMF so doesn’t that put Turkey at war with Allah subhaana wa ta’aala. Can we expect fall of Turkey like the Othman Empire. Why did Erdoğan go Back on his word and raise interest rates. It didn’t even seem to work. The Lira is still in free fall and inflation is skyrocketing. Has Turkey destroyed its future.

[@user-yw7gb5px6q]

As I'm writing this response, Türkiye has no even a penny debt to the IMF. Assuming you are talking about the 6.3 billion USD reserve funds, allocated by the IMF to Türkiye for fiscal year 2022, however the country didn't use those funds. To clarify, those funds are allocated automatically by the IMF to the member countries, and they may or may not apply to use those funds. Türkiye did not.

[@ahar7882]

Can you share the slides. It is hard to see the diagrams on the transaction types; ie. on spot & etc...

[@AlmirColan]

Slides now available on my website at www.almircolan.com/blog/troublewithriba

[@ahar7882]

Thanks@@AlmirColan

[@tameemkarimpathan1777]

Salam, brother Almir Colan. I guess based on what you said about exchanges, I can’t buy gold on spot (online bank transfer) and then receive the gold some days later through shipment? And also I guess that would be the same if I told the dealer to store the gold in a vault for me until I come and collect it on an agreed date? Also, am I allowed to ask a friend of mine to collect the gold for me at spot. I.e. I’m paying it through online bank transfer, while he is collecting it for me and I will collect it from him in an agreed date? JazakAllah

[@masumkhan4040]

I have stayed away from riba till now alhamdu Lilla. Btw im 36 years old. A question that keeps popping up in my head is that Riba according to the authentic scriptures is valid only for unequal transactions of gold for gold, silver for silver, salt for salt, dates for dates, barley for barley and wheat for wheat. My question is in today's world no-one transacts in those items rather in paper currency. How does this relate or equate to the 7 items.

[@AlmirColan]

Gold and silver are like any other money that we use today 💰💶💷💴💳

[@masumkhan4040]

@@AlmirColan Jazak Allahu Khairan for the prompt response.

[@infoperang2664]

Assalamualaikum. Can i translate and repost this video, someday?

[@AlmirColan]

Walaykumu salam - yes, any time

[@AlMulk21]

Does someone have a link for the Quote in 3:30 Barakallahu feek

[@syedsadaqst1032]

Assalamalaikum Brother Mufti Taqi Usmani was advisor to Many Islamic Is Islamic Banking eg Meezan Bank in Pakistan adviced by Mufti Taqi Usmani consider Hilal??

[@Justse4all]

Assalam Alaikum br. Almir, can you clarify the concept of lease vs renting that is confusing me. I have worked in car industry and i know that in conventional leasing of a vehicle involves inferest. Many scholors consider it halal because they say its renting. Im confused. Please clarify. JazakAllah Khair.

[@AlmirColan]

Walaykumu salam - In a lease or rental agreement, the subject matter of the contract is the use of a car. You are exchanging money for the benefit of using the car, which is a money-for-non-money transaction. This type of transaction is permissible. The term ‘interest’ in this conventional context is likely used as a substitute for ‘profit’ to indicate the rate of return in mathematical terms.

[@Justse4all]

@@AlmirColan JazakAllah Br. Almir

[@johburale4991]

Asc sheikh what do you think this so called no riba to buy houses like guidance residential, here in America, they will say profit sharing but I think it's another interest hidden, it's also very expensive than normal banks with interest. Please let me know what you think about this. Thanks

[@amayoka]

In Kenya, even Islamic banks replace the name interest with profit and charge at the going market interest rate. Wallahi no difference. Other financial institutions also claim to do sharia loans but all they do is replace the name with 'fees' and 'interest' and are sometimes are an 'Muslim margin. making them more expensive than conventional loans. They realized Muslims will go to great lengths to avoid the name interest so they make them buy the privilege.

[@user-qj3rv2mo1b]

What is the increase in money called that not through a trade?

[@MNs2023.]

Assalam o Alaikum I'm doing real estate in Dubai and my one deal is in process at the moment. I'm a broker here so the buyer is using mortgage. My job was to show him the property he likes it and then the bank valuation team contacted me and I arranged a viewing of the apartment for them so they visited the apartment and valuated it to provide loan to the buyer so I just wanted to ask that I'm a middleman here connected with buyer/seller and I'm going to get the commission from the buyer as per Dubai real estate rule so the commission I'm getting for this will be halal for me or not as the buyer has taken a loan from the bank

[@Money-Mate]

How will inflation be controlled without interest rate fluctuations?

[@SofiaOHabib]

Brother, how about buying a house & a car on a loan? Is it permissible? Jazakum Laha Khiera for sharing light on this controversial topic of our time. Greetings from the US.

[@JahidulIslam]

Anything related with interest or riba is prohibited.

[@litfiana5417]

It is better to buy 2nd hand or cheap car Or for house it's better to buy smaller house, and have blessing of Allah on the house & car For me I prefer buy plot of land and build very cheap house with wood or bamboo

[@SofiaOHabib]

@@litfiana5417 jazakum laha khiera

[@adnanahmadzy]

Is there going to be an economical disadvantage to Muslim countries who do not use the riba system because their GDP will be based on real output of a their country or is that an advantage if they grow their GDP that way since the other countries GDPs are inflated and can collapse at anytime???

[@cavalry3269]

Is buying a hse by instalments But at a higher price halal?

[@dimazizmailov2926]

Please answer this

[@J_Atsak]

Guys, i need a take on this example. Say, the instalement trade happens, where person 1 buys a house worth £500k, now this property is an asset. Person 2 (muslim) makes a proposition they will pay instalements monthly, and for every monthly a insalment he buys a share of the property, and if person 2 falls short on the payment plan, person 1 takes a share back until they break even and person 2 has caught up with payments. Would this be a fair transaction?

[@AlmirColan]

Check this out kzbin.info/www/bejne/eZCqo5tvnb6coqcsi=K3K7xODcEs9pa3jG

[@yousufnaroo3181]

Is leverage trade without interest being charged haram?

[@ilhantezel6125]

What do you think about if interest rate is lower than inflation? In Turkey, price of the houses increase about 8 times within about 2 years because of inflation. Some people take loan from banks with low interest rates to buy houses and become rich, others avoided since they think that it is haram. What do you think?

[@zack2768]

No matter if it 10% or 0.01%, riba is riba.

[@MrMetalWarlock]

This dunya is temporary. Their money, houses, etc will not benefit them at all in the grave and hereafter

[@rattman96]

Funnily enough, Sneakø indirectly brought me here.

[@MA-ss6rd]

Sir, can you please specify if the mortgage loan to buy a house is RIBA or not, thank you!

[@IFTY-Ahmed]

Totally 100% riba. Absolutely not allowed and even whole countries via the IMF get interest loans to run their country. The evil banksters are the richest people on the planet because of riba dealing.

[@MA-ss6rd]

@@IFTY-Ahmed thank you for participating in answering the question, but my question to you is...are you a mufti? Can you give deeper dalil from the coran and suna....or just brief answer

[@IFTY-Ahmed]

@@MA-ss6rd Allah (swt) tell us in the Quran Tafseer Al-Baqarah Ayaat 278-279. If you take part in riba then you have gone into war with Allah and his rasool. Also our Prophet Mohammed has cursed (Baddua) to anyone who takes or gives riba. If you come under the curse of our Prophet then none of your Salah, fasting, Hajj or zakat will be accepted. Now it’s totally up to you whether you work hard to earn money to pay for a house in cash or follow others and be a loser.

[@MA-ss6rd]

@@IFTY-Ahmed mashallah I agree...thank you

[@hdufhbnjgr5491]

Allah dont forbid us from doing business and gain profits... As for the house loan..Bank bought the house cash and sell it back to the buyer by arranging a loan being paid through a period of time , that's not riba,its just usual business like anything else,selling things at a price that generate profits to seller in this case the bank..Islamic bank have fixed rate on it not like conventional bank that have floating rate and floating price thorough out its loan period.. The final price of the house according to Islamic finance schemes already finalized and agreed upon through the loan agreement from the first day until completion of the payment arranging through a grace period agreed by both parties ...So there's no riba of surplus arised here all have been set fixed

[@mirzoalim]

Asalomu aleykum va rahmatullohi va barakatuhu brother. Nice to see you. Jazak ALLAHu khayr!

[@TOUSIFHASAN]

Even in Torah (book by god to children of ISRAEL) it's written intrest is prohibited.

[@AlphaBravoCharlie777]

They changed it. So it's illegal for a Jew to take interest from a Jew but he can take it from a non Jew.

[@zuhdizaaimuddin7058]

Can u comment about islamic banking?

[@hedrynator]

If I were to borrow money from a person say X amount for business and we agreed that I'll pay him back 3 years later at 105% the principal amount. Is that considered riba?

[@_Z.K_]

Think this was answered in the first 5mins, when brother spoke about whether it’s little (e.g. x % interest rate) or large (e.g loan shark lending) - it’s still riba.

[@markzuckerberg2029]

I want to buy an investment property and build wealth outside of shares. Can I do this in an islamic way? I know those islamic deals still use the interest rate as the calculator for the repayments. If the others keep buying properties my children will stay poor, I want to buy properties

[@mutiur7396]

Some people to confuse further add that interest is different from usury, because the person taking loan on Interest is doing it for profit, for he himself will invest the money in one or other form. While these same people try to fool people that RIBA is something when someone is in need and poor and if that person is given money on interest, that is Usury. In reality both are same.

[@nohamgoldfarb1724]

Can you pls explain why 1 kg of rice for 2 kg of dates in delay is a problem? Are they have the same ila ?

[@nohamgoldfarb1724]

@@borsalinokizaru9862 thier is qias

[@nohamgoldfarb1724]

@@borsalinokizaru9862 first they are mal ribawi , they belong to the 4 items as food and they are different so you sale one for the another becouse its weight but it should be on the spot and they are not the same.

[@nohamgoldfarb1724]

Is it correct?

[@nohamgoldfarb1724]

اي الجواب صحيح ؟

[@suryaadi404]

Rice for rice and dates for dates, on the spot in the same amount/weight that is permissible. Or rice to cash then cash to dates this is also permissable. You asking why other methods is not allowed, because it is called riba. So your question became, why riba is not permissable. The video described it.

[@mustafatasci2572]

Hallo, dear Almir, I am living in Turkey and here there is a huge inflation(%100 real, %60 explained) and interest rates(%30). And house prices is 4 times higher than 2 years ago and buying a house is impossible for a family( teacher + engineer). But goverment give some oppurtunities for the people who bus the first house with small interest(less than 10...this is huge in other countries but here is so small) via Goverment Banks. Is this Haram? Can you explain that please? Bank is government and the project is government. I would like to buy a house. Wha should I do? Islamic bank gives %40 ratio for 1 year. So this is so hard. Could you help me? Thany You. BEST REGARDS

[@batuksri]

There is no time value of money?

[@renegade5942]

Can someone summarize why intrest is wrong?

[@zaffvideos5688]

Correction, its never been called an Ottoman Empire, That is a German scholars makeup word to take away the title of SULTANATE OF ROME.

[@AlmirColan]

Not quite right. The sultans referred to themselves as ‘Kayser-i Rûm’ or ‘Caesar of Rome.’ The term ‘Ottoman’ is an English anglicization of ‘Osman,’ the empire’s founder. While the term was used by Orientalists, it is a fairly accurate translation of what the empire/state itself called Devlet-i ʿAlīye-yi ʿOsmānīye

[@bassamovais8313]

Are islamic banking also deals in riba?

[@m77h94]

Most if not all them yes as long as they follow the central bank

[@wjalfi4935]

Riba menyebabkan perbudakan modern yang kemudian menimbulkan terjadinya penghisapan kekayaan dari si miskin kepada si kaya. Kemiskinan struktural (kemiskinan yang disebabkan oleh ketidakadilan sistem dan bukan karena malas bekerja) muncul karena riba ini. Negara-negara berkembang tetap miskin karena riba hutang yang memberatkan yang harus dibayar kepada IMF, World Bank, hutang bilateral, dan lain-lainnya. Selain itu uang kertas tanpa jaminan emas juga menjadi salah satu sebab terjadinya perbudakan modern. Mata uang dengan nilai tukar lemah harus membayar jauh lebih mahal dibandingkan dengan mata uang kuat untuk sepotong humberger. Orang Islam yang hidup di dunia ketiga harus bekerja jauh lebih keras dibandingkan dengan negara-negara Barat dan negara-negara non Islam untuk mendapatkan standard barang yang sama karena dibayar jauh lebih murah.