al azhar scholars new ruling on interes (riba)

[jaaluut]

scholars at the prestigous thousand year old al azhar university have ruled on fixed interest as permissible.

this was open to interpretation and there had been a great deal of debate on this issue among conservative,and the progressive islamic scholars.here is the bbc article on this. as a future investment analyst, i think it's great idea,but what do you think?

http://news.bbc.co.uk/2/hi/business/2488525.stm

[Hibo]

"Religious jurisprudence means change, and it is illogical to remain frozen while the world changes around us," Sheikh Saber Talaab, head of the research committee secretariat, told AFP.

 

"So long as we do not go against what is written (in the Koran) or the Sunna (Islamic tradition), we have a clear conscience."

 

From the same link: http://news.bbc.co.uk/2/hi/business/2488525.stm

----------------------------------------

 

I have seen and read what Shiekh Saber says only to add confussion to what I heard from other Shiekhs or read from Hadith Books.

Read Here What The Prophet Says About Usury

 

Islam is not a religion that needs a change.. that is what I believe.

[Baashi]

There is no such thing as progressive, liberal, or conservative muslim. Anything goes as long as there is no directive (Quran and Sunnah) that forbids it. Usury (what ever form or color it comes whether it is fixed, prorated, or variable) is always forbiden.

[jaaluut]

jurisprudence...sharicah is a process of finding answers to contemporary problems through the prism of the quraan and sunnah. having said that slamic scholars have reached a conclusion regarding irbaax or devidends. to refute their arguments with simple statements is a great injustice to the religion.

have you guys considered their arguments , whats the issue,and how they come up with their conclussions? there are papers written about this issue and i urge bro and sis to research on this.

 

if i invest 5000 , the money deosn't sit ,but rather works to generate wealth for the borrowing company and me. we BOTH benefit.

if you look at the defenition of usury or ribaa, then you would know it's applicability in today's market.

[Rahima]

Asalaamu Calaykum Wr Wb,

 

Brother Jaaluut,

 

Walaal, I must disagree with you in the greatest sense of the word, for participating in usury (taking it, paying it, being involved in its transaction and what not) in all its forms is a heinous and grave sin as Allah has said:

 

"Oh you who believe! Devour not usury doubled and multiplied; but fear Allah that you may prosper." (Aal-Imran, ayah 130)

 

Not to mention Rasuallah (S.A.W) equating usury to fornication:

 

Abu Hurairah radiyallahu anhu reported that the Messenger of Allah said: Usury has got seventy divisions. The easiest division of them is a man marrying his mother.

 

As for your words walaal:

 

“jurisprudence...sharicah is a process of finding answers to contemporary problems through the prism of the quraan and sunnah.”

 

USURY is NOT just a contemporary problem; the rulings in regards to it have been clearly defined in the Quran, Sunnah and verdicts of the Sahaba. Just because some Islamic scholars have come to such a ruling, it does not mean it is correct. May Allah bless them, for the verdicts of scholars (right or wrong) are rewarded by Allah immensly. However, the majority of the scholars clearly indicate it is HARAM .

 

“if i invest 5000 , the money deosn't sit ,but rather works to generate wealth for the borrowing company and me”

 

This is not usury walaal for the reason that your money is working for you; you are not making a profit for nothing. And yes i have read some of the opinions of scholars that take this stance.

 

Abu Hurairah (R.A) reported that the Prophet(S.A.W) said: A time will certainly come over the people when none will remain who will not devour usury. If he does not devour it, its vapour will overtake him. [Ahmed,Abu Dawood,Nisai,Ibn Majah]

 

May Allah save us from Riba and its remnants.

 

JZK

[Legend of Zu]

Rahiima..I know all the ayahs u read..but the Question is What is the definition of Riba??..can u define It!!!

 

Cheers

[jabarti]

Asalamu Aleikum,

 

Br. Jaaluut, first of all I am not an Islamic scholar who can make FATWA’S here, but what I hear from many scholars in the west and from the east is that interest or RIBA is HARAM period. And who ever tries to make excuses or permits what Allah himself prohibited is against Islam. The Holy Qur’an tells us that who ever uses Riba (all forms of interest) has transgressed and declared war against Allah.

 

Then, who is fool enough to go a war against Allah the mighty, the power full and the created of all things.

 

Secondly, yes there are so-called moderate Muslims who claim to be more open and liberal than the rest of us, they are trying to show the west that Islam is religion of all times and that they are not conservative or fundamentalist, but they forget that it’s Allah who make HARAM AND HALAL, its Allah who fulfil this religion of Islam by the time of Prophet Mohamed, we are here to fellow what Allah and his beloved prophet Muhammad ordered us to do.

 

Allah said to Prophet Mohamed : (Wamaa Aleika ilal BALAAQ), means O’ Muhammad there is nothing else upon you except to tell the people about Islam, in another word to propagate and spread the message of Islam. Then what about us, do u think we can became MODARATORS AND LIBERTERIANS, or we should be loyal believers, and fundamentalist to adhere the origin and the true source of Islam (the Qur’an and the Sunnah of the Prophet Mohammed.)

 

Remember, Allah says in the Quran, (lan tardhaa Al-yuhuudu wala Nasaaraa xataa tatabi'a milatahum)

 

Which means that: " The Jews and the Christians will never be happy (pleased) or satisfy with you unless you fellow them".

 

Therefore, we are here in this world for one purpose only and that’s to please and worship Allah alone.

 

The world needs to be Islamised, not Islam to be modernized.

 

Islam is the RILIGION OF ALL TIME’S AND ALL PEOPLE.

It’s an NIVERSAL RELIGION.

 

Thus, those so-called Moderate and liberal Muslims are in dark and gloomy position, they need to be brought into the Light of Islam.

 

Jabarti

 

:rolleyes:

[amran]

AA

what is new about that, al-azhar, was always trying to please the gov, even if that meant to go against the religion, this one is not new, actually sheikhal azhar said the samething in 1993. anyway personally i do not trust al-azhar. and i would not advise anyone to take any of al azhar's fatwas before asking other scholars.

w/salaam.

[Jamster]

Salamu alaikum

 

Tragedy besets upon our so-called Islamic scholars. Since the death of number of well-respected scholars, the Islamic world seems to go haywire. Floods of Fatwat taking the pavements of our minds. Any simple Muslim like I is left oblivion perplex ion and wonder as what brings such highly controversial and to some extend heresy to spring up such a volume of Fatwas of which the latest is in question?. The answer lies in the midst of the Muslims. The lack of rudimentary erudition makes us all prey to these outrageously debauched Fatwas.

 

Let me come back to the issue at Hand.

 

It is said that these scholars of the supposedly the oldest University in the World in their wisdom decided that it was no more appropriate to apply the Law which makes Interest haram. This perhaps might demostrate some of the arguments many believe fierce that AL-Azhar is no more relevant institution of Islamic erudition or research. But this would be a personal attack and would not be fitting in the Islamic protocol of Discourse, consequently, let us look the Role of Uluma in Islam.

 

Allah cordially talks about the position of Uluma in our society. They are the inheritors of the Prophets and as such will carry out the message of the prophet. This does not come to mean they will legislate out of their whims but indeed follow the certain criterion that Islamic Sharia prescribe.

 

The basis of legislation are three (at least these are agreed upon, some other but disputed basis are: Qiyas, The Fatwa of one of the Companion of the Prophet, Istisxaabul xaal, Msaaalixil Mursala to name most).

 

1. Quran

2. Suna (the Saying of prophet Salalu Alaihi Wasam)

3. Ijma (the consensus of the Scholars of the Nation- Uma Islamiyah)

 

These are the basis where our legislation stems from. In Isuulu Fiqh (Jurisprudence), Any law that is prescribed by the Quran, Sunna or the Ijma can never be altered or reinterpreted (the interpretation of the Prophet, Sahaba takes precedence- for the law students see it as EU Law taking precedence over English Common Law; I am not comparing but just to give you the gist of it). Now the prohibition of Ribba (of which it is definition can be extensively found any credible Fiqh book) is Haram by legislation of the collective sources stated above -namely, Quran, Sunna and Ijma. Wa Ahalalu Beyca Waxarama Riba, is one Surrah that comes to mind vividly. Through the annals of the development of Fiqh never has it been reported any credible Faqih disagreeing with such law. Even if such heretic act was over taken by some unsuspecting Sheikh he would no doubt repent after he receives tremendous amount of letters from earnest and knowledgeable Scholars.

 

This new development from Al-azhar further encourages the suspicions sowed many of the hearts of the enlightened Muslims, some who hold it with an utter contempt. Anyhow, though this gives profound delight to the Westerners who would propagate this cause in order to discredit Islam. Furthermore, this undermines the tremendously odious task that many Muslim Economist had been undertaking more 3 decades.

 

I can not see what fruits this will bear, is this a PR gone mad? Or there is some other hidden line behind it. Whatever it is, it will indeed not succeed in producing the expected effect.

 

Salamu alaikum

 

Farah

ps:Please excuse the haste of which I have written in this piece of writing, there is I suspect some unexpected errors in espelling.

[StarGazer]

Jaalut, firtly thanks for updating us about this issue stirring in the East.

 

Tragedy besets upon our so-called Islamic scholars. Since the death of number of well-respected scholars, the Islamic world seems to go haywire. Floods of Fatwat taking the pavements of our minds. Any simple Muslim like I is left oblivion perplex ion and wonder as what brings such highly controversial and to some extend heresy to spring up such a volume of Fatwas of which the latest is in question?. The answer lies in the midst of the Muslims. The lack of rudimentary erudition makes us all prey to these outrageously debauched Fatwas.

****Farah couldn't have said it any better.