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  • Basics Of Riba

    Posted by Umair Ahmed on February 23, 2021 at 11:40 pm

    Assalam u Alaikum!😇 Hope everyone is doing wonderful.

    I am layman in any knowledge about sood/interest.Please tell me some very basic principles that I should know.(no complexity 😅)Just some ABCs that encompasses everything.

    And is giving an interest to a party not sood/interest for that party who is giving?

    Is only taking interest a sood?

    Thank You so much

    Umair Ahmed replied 3 years, 5 months ago 2 Members · 2 Replies
  • 2 Replies
  • Basics Of Riba

    Umair Ahmed updated 3 years, 5 months ago 2 Members · 2 Replies
  • Faisal Haroon

    Moderator February 24, 2021 at 12:18 am

    Umair, unfortunately ABC’s can’t encompass everything 😊.

    In short, riba is defined as demand for an excess amount on a loan, and it’s only applicable on consumable items (money, grain, etc.)

    Islamically there’s no prohibition for the borrower. As a personal advise, however, to a young man like you I must add that one should avoid borrowing if possible until responsible spending has been learnt.

    • Umair Ahmed

      Member February 24, 2021 at 12:20 am

      Thanks 😊

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