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Riba means Increase, Profits, Usury, Interest and Storage:
Increase or to store more than need and earn double quadruples profit is called Riba.
The word Riba come from Rab which means to upbringing.
O believers, do not eat up doubled and quadruple Riba, its means do not eat up that, which make your up bringing doubled and quadruple, hence don't eat up double, quadruple profits.
Allah has made Riba Haraam:
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TYPES OF RIBA:
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(1): Getting more Profit by Deception:
(2): Taking Double Profits from the Original Purchase Price:
(3): Giving double Interest:
(4): Taking Usury on the Loan:
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(1): Getting more Profit by Deception:
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People take their Eimaan as a means of deception among themselves, merely because an Ummah gets a greater profit than the other, means earning profits by deception, and devouring the properties of people by false means, thus do not pay Zakat and Sadaqah is called Riba.
Allah says:
Do not be like that who had broken her yarn into pieces after it has become strong, you take your belief as a means of deception among yourselves, merely because an Ummah gets a greater profit (أَرۡبَىٰ) than the other Ummah. In fact, Allah puts you to a test, thereby and, of course, on the Day of Resurrection, He explains to you all those matters in which you disagreed.
(16:92)
And for their charging Interest (ٱلرِّبَوٰاْ) while they were forbidden from it, and for their devouring the properties of the people by false means. We have prepared, a painful punishment for the disbelievers among them.
(4:161)
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(2): Taking Double Profits from the Original Purchase Price:
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Taking double profits from the purchase price of your thing means, after deducting all the costs taking double profit from the original purchase price is called Riba.
After paying Zakat accumulate wealth exceeding your needs, accumulate double and quadruple the maintenance of one year means store for three or four -year and making treasure of gold and silver and do not spend it in the way of Allah, is also called Riba.
Allah says:
O you who believe, do not eat up doubled and quadruple profits (ٱلرِّبَوٰٓاْ), do Taqwa to Allah, so that you may be successful,
(3:130)
O you who believe, many of the rabbis and the monks do eat up the wealth of the people by false means and prevent from the way of Allah. As for those who accumulate gold and silver and do not spend it in the way of Allah, give them the ‘good’ news of a painful punishment. On the day it will be heated up in the fire of Jahannam, then their foreheads and their sides and their backs shall be branded with it: “This is what you had accumulated for yourselves. So, taste what you have been accumulating.”
(9:34,35)
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(3): Giving double Interest:
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Giving double Interest to increase the property of anyone is called Riba. According to Allah it does not increase in the wealth, but Zakah and Sadaqah shall have manifold increase. Allah destroys Interest and nourishes Sadaqah.
Allah says:
Whatever Interest (رِّبً۬ا) you give, so that it may increase in the wealth of the people, it does not increase with Allah; and whatever Zakah you give, seeking Allah’s pleasure with it, then such people shall have manifold increase.
(30:39)
Allah destroys Interest (ٱلرِّبَوٰاْ) and nourishes (وَيُرۡبِى) Sadaqah, and Allah does not like any sinful disbeliever.
(2:276)
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(4): Taking Usury on the Loan:
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Taking the Usury on the loan or the mortgage loan from any needy is called Riba.
So if anyone is taking Usury on loan, then he should give up the remains of Usury, if he does not do it, then there is the declaration of war against him from Allah and His Messenger. However, If he repents, then his original money is for him, neither he wrong, nor be wronged. If the Indebtedness is in misery, then he should allow deferment till his easier and whoever forgo it as Sadaqah its much better for him.
Allah says:
O you who believe, do Taqwa to Allah and give up what still remains of Usury (ٱلرِّبَوٰٓاْ), if you are the Believers. But if you do not (give it up), then listen to the declaration of war from Allah and His Messenger. However, If you repent, yours is your principal. Neither wrong, nor be wronged. If there is one in misery, then (the creditor should allow) deferment till (his) ease, and that you forgo it as Sadaqah is much better for you, if you really know.
(2:278,279,280)
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PEOPLE WHO TAKE RIBA:
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Eat from the good things Allah has provided to you, and do not transgress in it, lest not Allah's wrath descend on you. One's upon whomsoever Allah's wrath descends certainly thrown into the desires. Those who eat up Riba, their condition will be like the one who losing his senses by the touching of Shetan, that is because they have said: "Sale or purchase is also like Riba," while Allah has permitted Sale or purchase and prohibited Riba.
Allah says:
Eat from the good things We have provided to you, and do not transgress in it, lest My wrath should descend on you. The one's upon whom My wrath descends certainly falls into desires.
(20:81)
Those who take Riba (ٱلرِّبَوٰاْ) will stand as the one whom the Shetan has driven crazy by his touch. That is because they have said: "Sale or purchase is also like Riba (ٱلرِّبَوٰاْۗ)," while Allah has permitted Sale or purchase and prohibited Riba (ٱلرِّبَوٰاْۚ). So whosoever receives an admonition from his Lord and he stops, shall not be punished for the past; his case is for Allah; but whoever returns, such are the dwellers of the Fire - they will abide therein.
(2:275)
