From the Glorious Quran are the following prohibition of interest:
وَمَا آتَيْتُم مِّن رِّبًا لِّيَرْبُوَ فِي أَمْوَالِ النَّاسِ فَلَا يَرْبُو عِندَ اللَّهِ ۖ وَمَا آتَيْتُم مِّن زَكَاةٍ تُرِيدُونَ وَجْهَ اللَّهِ فَأُولَٰئِكَ هُمُ الْمُضْعِفُونَ – 30:39
“And whatever you give for interest to increase within the wealth of people will not increase with Allah . But what you give in zakah, desiring the countenance of Allah – those are the multipliers.
Surrah Ar-Room :39
الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ۚ ذَٰلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا ۗ وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا ۚ فَمَن جَاءَهُ مَوْعِظَةٌ مِّن رَّبِّهِ فَانتَهَىٰ فَلَهُ مَا سَلَفَ وَأَمْرُهُ إِلَى اللَّهِ ۖ وَمَنْ عَادَ فَأُولَٰئِكَ أَصْحَابُ النَّارِ ۖ هُمْ فِيهَا خَالِدُونَ – 2:275
Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, “Trade is [just] like interest.” But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah . But whoever returns to [dealing in interest or usury] – those are the companions of the Fire; they will abide eternally therein.
Surrah Al Baqarah: 275
يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِن كُنتُم مُّؤْمِنِينَ – 2:278
O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers.
فَإِن لَّمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِّنَ اللَّهِ وَرَسُولِهِ ۖ وَإِن تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَالِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَ – 2:279
And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal – [thus] you do no wrong, nor are you wronged.
Surrah Al Baqarah: 278 to 279
From the prophet and messenger himself, he has also spoken about it.
In one hadith the Prophet (blessings and peace of Allah be upon him) said:
“Last night, I dreamt that two men came to me and took me out to a sacred land, then we set out until we came to a river of blood in which a man was standing, and on the bank of the river there was another man in front of whom were some rocks. The man who was in the river came, and when he wanted to get out, the (other) man threw a rock in his mouth, and sent him back to where he had been. Every time he came and wanted to get out, he threw a rock into his mouth and sent him back to where he had been. I said: ‘What is this?’ He said: ‘The one who you saw in the river is the one who consumed riba.’
Jabir (may Allah be pleased with him) narrates that the Messenger of Allah (may Allah bestow peace and blessings upon him) cursed the consumer of interest, its patron, the recorder (of the transaction) and the witness, he said,
“They are (all) the same.”
and also a hadith,
Abu Sa’id AhKhudari (may Allah be pleased with him) narrates that the Messenger of Allah (may Allah bestow peace and blessings upon him) said, “Gold (in exchange) for gold, silver for silver, wheat for wheat, barley for barley, salt for salt, similar for similar, hand for hand; whoever has more has taken interest and the giver are the same. ‘
There are a lot more hadiths, and we have quoted only few.
There are various forms of Riba also and we have not discussed them yet.
How do you know that a transaction is Riba? Basically if there is oppression or injustice from either of the party, then most probably the transaction is Riba based.
The presence of interest in this modern world today brings nothing but INJUSTICE.
That is why the poor gets poorer and the rich gets richer.
Islam promotes trade and business but it abhors Riba (Interest) and any form of injustice.
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