This post forms the second and final part in our discussion of Hifdh al-Maal and we look at those things which threaten the maintenance and permissible growth of Wealth.
From the Perspective of That Which Threatens al-Maal
Those things which threaten al-Maal are discouraged, prevented and prohibited. Some examples of how is achieved are as follows:
1) Prohibition of Usury (Ribaa)
Ribaa is translated as usury, a slightly archaic term that is not much used today; a more common translation is ‘interest’. Ribaa is an Arabic word coming from the verbal root ra-baa which literally means ‘to grow’ or ‘to increase.’ This is the linguistic meaning, but does it imply that any form of growth or increase is categorised as ribaa?
The short answer is no, and is clarifed in Surah al-Baqarah: “Those who devour usury will not stand except as stand 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).” [Qur’an 2:275]
This verse refers to a group from Bani Isra’eel at the time of the Prophet Muhammad (s) who were attempting to blur the distinction between the usury and trade by saying that they were one and the same. In the above verse, Allah makes clear this distinction and concludes by mentioning the severe punishment for engaging in such financial transactions and attempting to justify them. An interesting point to note here is that this group of people were able to confuse the two and present them to others as the effectively the same thing, implying that the distinction may at times not be absolutely clear to all.
Even today, many Muslims find themselves unsure as to what the actual difference between ribaa and profit is. Even linguistically, in Arabic, the words sound similiar. As mentioned above the increase from a usurious loan or transaction is referred to as ribaa, and the increase from profit is termed ribh (which comes from the verbal root ra-bi-ha, meaning ‘to gain’ or ‘to win’). As believers in Allah and the Last Day, we must keep this distinction clear in our minds. There are very few things prohibited in Islam so absolutely and with such severity. In the verses following the one above, Allah declares war on those who engage in such transactions: “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 turn back, ye shall have your capital sums: Deal not unjustly, and ye shall not be dealt with unjustly.” [Qur’an 2:278-279]
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