Why is interest (in like an account) haram in Islam?

Question

I don't understand why..?

Answer 1

if i had (or could afford) a haram, my wife would be pissed.

Answer 2

I found *unparallel's remark of interest (no pun intended), because it condemns banking as if there is no real work involved...as if accounting requires no effort. As if keeping people's money safe and helping it grow requires no thought or work at all. As if helping complete strangers better themselves by lending them large sums of money should be done out of the goodness of one's heart without any token of appreciation. I'm stunned Mohammad would take such an approach, since he was such a good haggler. Haggling to get more money for something than it's actually worth isn't really "work" then either I guess. This policy was made because Mohammad hated the practices of Jews. That's why he is constantly berating them in his "recitations".

Answer 3

This is because this is now lawful money which has been earned by yourself. Does the money come from Haram sources or Halal? Also i agree with the 2 above comments made. Intrest is something which we will never be forgiven for! It is taken very seriouly in Islam. Many scholars have said that if have taken intrest you can give it to chairty instead. Some people get a certain amount each month on an account and this can go to chairty. Only Allah knows if you will get any reward for this or not.

Answer 4

it's also haram in juadism and christianity, because you should conseder all man kind as your brothers and sisters and should not make use of there efforts without sharing the risk. the bank gave your money as loan to some people, when they can't pay, they don't give them a chance or be kind, they sell there house and leave them to be homeless in the street, this system is evil and against god.

Answer 5

In the Hanafi School a person can accept interest in this country because you are allowed to take what they are happy with. Normally people are not happy to pay interest.

Although other schools forbid any kind of accepting interest.

Answer 6

Riba is haram. Many people believe "Riba" means any form of interest, but some believe it only refers to usury.

Interestingly enough, in the commentary in the original version of the Abdullah Yusuf Ali English translation of the Qur'an, he said that he interpreted "Riba" to mean usury and not interest. However, in current edition of the Abdullah Yusuf Ali translation of the Qur'an which is published by the Saudi government, this part of the commentary is redacted. Interesting, eh?

Answer 7

Because this money was not earned by working but instead just by doing nothing this also includes lotteries and betting.

Answer 8

its also is a sin in Judaism and Christianity but they don't care

Answer 9

Because it is money that has not been earned. Plus it takes advantage of the situation of the person who has to pay the interest.

Answer 10

[Because it is money that has not been earned. Plus it takes advantage of the situation of the person who has to pay the interest.]

It is earned when making money available for others is your profession (like a banker). Not allowing people to make a living by making money available to others has serious negative impacts on economic development. The development of banking is one of the driving forces in the success of Western economies. I'm sure that the lack thereof in islamic countries helps keep them under-developed. Is that what Allah wants for you?