سود اور اس کے معاشی نقصانات (پاکستان کے معاشی حالات کے تناظر میں تجزیاتی مطالعہ)

Interest and Its Economic Demerits (An Analytical Study in the Context of Pakistan's Economic Conditions)

Abstract

Interest (usury) is a grave sin, and from a Shariah perspective, engaging in interest-based transactions is so detestable that Allah Almighty has equated it in the Holy Quran with declaring war against Allah and His Messenger (peace be upon him). The Messenger of Allah (peace be upon him) has described the sin of interest is equated with committing fornication with one's mother. The outcome of interest is always destruction and ruin.

The severity of interest-based dealings can be gauged from the fact that its impact is not limited to the person who accept it, but others,like who pays it, the one who writes it and the persons who gives witness to it also become deserving of Allah's curse and are distanced from His mercy. In summary, according to the Quran and Hadith, interest-based dealings and transactions are haram (forbidden).

This paper is an effort to highlight the harms of interest, beginning with a discussion on the condemnation of interest in the light of the Quran and Sunnah. It then clarifies the reality of interest based on the views of commentators of Quran, and finally, it outlines the harms of interest. A qualitative research approach has been adopted in this paper. The researcher has concluded that interest is haram in all its forms and causes numerous economic problems for society. Therefore, it is imperative to eliminate interest from the economy as much as possible.