Allah’s Warning Against Riba (Interest/Usury)
“Those who devour usury will not stand except as stands one whom the Evil One by his touch hath driven to madness. That is because they say: “Trade is like usury,” but Allah hath permitted trade and forbidden usury. Those who after receiving direction from their Lord, desist, shall be pardoned for the past; their case is for Allah (to judge); but those who repeat (the offence) are companions of the Fire: they will abide therein (for ever). (Surah 2 Al-Baqara 275)
Allah Will Destroy Riba (Interest/Usury)
“Allah will destroy Riba (usury) and will give increase for Sadaqat (deeds of charity, alms, etc.) And Allah likes not the disbelievers, sinners”. (Surah 2 Al-Baqara 276)
Allah Has Declared War Upon Riba (Interest/Usury)
“O ye who believe! Fear Allah and give up what remains of your demand for usury, if ye are indeed believers. If ye do it not, take notice of war from Allah and His Messenger: but if ye repent ye shall have your capital sums; deal not unjustly and ye shall not be dealt with unjustly” (Surah 2 Al-Baqara 278 & 279)
It is a Great sin for all Parties involved in Riba (Interest/Usury) dealings
“Allah has cursed the one who consumes Riba (interest), the one who gives it, the one who records it and the witnesses. They are all the same” [Hadith (reported saying) of our Prophet (PBUH) – Sahih Muslim]
Our world is engulfed in the darkness of Riba. Prophet Muhammad (PBUH) predicted
“There will come a time, when you will not be able to find a single person in all of mankind who will not be consuming riba. And if anyone claims that he is not consuming riba then surely the vapor of riba will reach him”.
The charging of interest is an abomination, a perversion against the very laws of nature. Our interest based financial system is like a dark and malignant force spreading like a plague throughout the world devouring all wealth, freedom and happiness in its path. Most people do not realise how destructive and deceptive our financial system is.
The primary goals of the IFEi:
- Help people to understand how the Global Financial System works and why it is inimical to the benefits and interests of mankind.
- To understand and appreciate the principles of an Islamic Financial System.
- Guide and help people to organise their financial affairs (muamalat) in accordance with the sharia.
At a Practical Level IFEi aims to promote the Islamic Economy. Specifically this will include:
- Islamic Wealth Management & Financial Planning
- Islamic Finance Training & Education
- Sharia Advisory Services
Our Non-Muslim Friends
We are all sons and daughters of Adam, created by one God. Regardless of belief or non-belief, we all share this planet and its resources and wealth. We all have a stake in its future and what legacy we leave to our children and future generations. Our current financial system is bereft of mercy and compassion inflicts profound injustice upon most of humanity regardless of religion, race or nationality. The information herein is for the benefit of everyone.