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The question

What is the reason for the revelation of the noble verse: "Those who consume interest will not stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, 'Trade is [just] like interest.' But Allah has permitted trade and has forbidden interest"? And who are those about whom Allah said on their behalf: "That is because they say, 'Trade is [just] like interest'"? Please state their names.

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

Some commentators have transmitted that the verse was revealed concerning the Thaqif tribe, as they were the Arabs most involved in usury. When they were forbidden from it, they said: "Trade is like usury," referring to the similarity of usury to trade in terms of increase. Allah Almighty refuted them by saying: {And Allah has permitted trade and has forbidden interest.}

The commentators mentioned that the usury of the جاهلية (pre-Islamic era) involved a deferred sale. If the term expired and the debtor was unable to pay, the creditor would increase the debt in exchange for deferment.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
98185
Imported
Translation status
Source text, unreviewed
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