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Is Ghamidi Sahab Legitimizing Riba?
I have heard Ghamidi Sahib’s answers in detail regarding Mortgage so I have a good understanding of his point of view and appreciate it very much. There is an example in Quran regarding Ashab e Sabt who legitimized something for themselves by using a trick. By the same tken the arguments that Ghamidi sahib have for Mortgage sounds like legitimizing something by a trck as well. It would be great if Ghamidi sahib can comment on this. I hope my question makes sense.
Thank you
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5 Replies
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Is Ghamidi Sahab Legitimizing Riba?
updated 8 months, 1 week ago
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Replies
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Can you please elaborate on what is your understanding from the Quran regarding the prohibition of mortgage and what trick Ghamidi sahab is using to legitimize it?
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Aslamualekum. Sorry for the spelling mistakes earlier.
The example of people of Sabt mentioned in Quran refers to the fact that (according to my understanding) when Allah forbade people from fishing on Saturday (which would be totally fine on any other day) they still went ahead and invented a work around that the fish can’t escape on Saturday and then they can capture it on another day. This work around seems to be totally legitimate because Allah only disallowed fishing on Saturday.
Now as Ghamidi sahib say that banking system (eventhough is premised on riba/interest) has evolved so much over the years that now it has become a service to humanity (e.g. you can transfer money or make payments etc in a blink of an eye) therefore now we should change some of the labeling assigned to lending/borrowing from the bank (e.g. Ghamidi sahib uses the term principal secured investment/financing etc in this context) so that there is no question that this is Riba and we can move on from the discussion of Riba and think of this as a normal business transaction.
So my question in this context was are we trying to find a work around just like the people of Sabt and is there any analogy that exists between the two cases I mentioned above.
I hope it makes more sense now.
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I don’t think that Ghamidi sahab has said anything like that. I suggest that you watch the videos on Riba again and understand how he breaks down the issue. He clearly distinguishes between the money lending business of the banking system from the financing business, and considers interest in money lending to be absolutely haram. Financing on the other hand is not a loan transaction hence there is no question of Riba in it.
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Well I think I asked the question from Ghamidi sahib. Any ways it’s okay if you didn’t understand my point of view.
Bilal
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