Interest is the biggest
weapon of exploitation of the capitalist economy. The system of giving
loan on the basis of interest has been practised from the days unknown.
The motive behind is to exploit the debtor capitalizing his miserable
situation. As a result, humanitarian motivation to help the needy to
provide good loan i.e. qard-e-hasanah does not prevail.
All the Prophets and Messengers of Allah SWT have declared interest as a weapon of exploitation and advised all to abstain from it. During the period of the Islamic Khilafat in Medina, men first come upon the advantages of interest-free Islamic economy and during the reign of Hazrat Umar Ibn Abdil Aziz (R.A.) no where of Arabia any poor man was found suitable to receive zakat. It is also feasible today if the people are conscious and the attitude of the government is changed and the economy is reformed accordingly.
It is our humble effort to make the people of the country aware of the evils of interest. ِWe are grateful to Allah SWT that we published three valuable Bengali articles of Professor Shah Muhammad Habibur Rahman, a renowned Islamic economist of the country, an honorable member of the Shariah Council of Islami Bank Bangladesh Limited (IBBL) for 23 years and a veteran teacher of Rajshahi University. We published those articles of At-Tahreek in a book form. The author has kindly translated the book in English, thoroughly revised and updated the contents as well.
The prohibition of interest is confirmed by eight verses (ayah) of the holy Quran and more than forty Hadeeths. Hazrat Muhammad (pbuh) said, "Whatever is the volume of money due to interest, it ends up in poverty" (Ahmad, sanad saheeh). Yet the interest-based economy has been running for ages in Bangladesh. The financial institutions are filing case against the debtors and grilling them in jail because of failure to pay the installments of interest in due time while the rural usurers and the workers of the NGOs are seizing tins from the roof of the debtor's house and snatching away milch cows from the cow sheds. Even the poor debtors are beaten to death and bodies are hanged from trees in order to threaten others. Against this background to rouse consciousness among the people about the oppression and exploitation of interest and to warn the Mumin about the severe punishment in the world Hereafter are the twin goals of this little endeavour. If the people in general and the government in particular become aware about the evil consequences of interest and abstain from its dealing and if Allah SWT accepts our effort in this regard, we would consider our work rewarding. The writer has made this book waqaf to the Hadeeth Foundation Bangladesh as Sadakah zariah. May Allah SWT grant him the best rewards both in this world and in the world Hereafter. - Ameen!
Director
Hadeeth Foundation Bangladesh