A very important detailed study on interest

Question

Question: What is the ruling on Muslims in India, under present conditions, taking money on interest from the government, or giving it, for various kinds of business? (a) Also: in taking money on interest, is the ruling the same for the needy and the one not in need, or is there a difference? If there is a difference, kindly explain what degree of need and compulsion (idtirar) can become an excuse. (b) Is the prohibition of interest perpetual and absolute, or temporary and restricted?

Answer

(a) In the noble hadith a curse has come upon both the one who takes interest and the one who gives interest; indeed, the one who writes the deed of interest and the one who witnesses it have also been included in the curse: [ar]عن جابر ﵁ قال: لعن رسول الله ﷺ آكل الربا وموكله وكاتبه وشاهديه، وقال: هم سواء.

Source: Fatawa Mahmudiyya

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