Quenching A Future Imam's Learning Aspiration
Some appellants (to the permissibility of Riba’ in modern times) have tried to attract the doctrine of necessity to the case of ribaand argue that the Holy Qur’an has allowed even to eat pork in the case of extreme hunger to save one’s life. The argument of some appellant was that the interest-based system has now become a universal necessity and no country can live without it.
Introduction It was a momentous event, as big as the creation of the country itself. On 14 Ramadan 1420, the Shariah Appellate Bench of the Supreme Court of Pakistan gave its landmark decision banning interest in all its forms and by whatever name it may be called. Thus fifty-five years after its creation in the …
I live in Canada and here the facility has been provided by the government to all residents for buying houses on mortgage (interest bearing loan). Being a muslim, I understand that mortgage is not allowed because of interest (Ribā). I would like to mention a few issues and seek your opinion on the subject matter: