[b]Surah Al-Baqara, Verse 275:
الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَٰلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا فَمَن جَاءَهُ مَوْعِظَةٌ مِّن رَّبِّهِ فَانتَهَىٰ فَلَهُ مَا سَلَفَ وَأَمْرُهُ إِلَى اللَّهِ وَمَنْ عَادَ فَأُولَٰئِكَ أَصْحَابُ النَّارِ هُمْ فِيهَا خَالِدُونَ

Those who eat Riba (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitan (Satan) leading him to insanity. That is because they say: "Trading is only like Riba (usury)," whereas Allah has permitted trading and forbidden Riba (usury). So whosoever receives an admonition from his Lord and stops eating Riba (usury) shall not be punished for the past; his case is for Allah (to judge); but whoever returns [to Riba (usury)], such are the dwellers of the Fire - they will abide therein.
(English - Mohsin Khan)

via iQuran

And He also says:

Surah Al-Baqara, Verse 275:
الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَٰلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا فَمَن جَاءَهُ مَوْعِظَةٌ مِّن رَّبِّهِ فَانتَهَىٰ فَلَهُ مَا سَلَفَ وَأَمْرُهُ إِلَى اللَّهِ وَمَنْ عَادَ فَأُولَٰئِكَ أَصْحَابُ النَّارِ هُمْ فِيهَا خَالِدُونَ

Those who eat Riba (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitan (Satan) leading him to insanity. That is because they say: "Trading is only like Riba (usury)," whereas Allah has permitted trading and forbidden Riba (usury). So whosoever receives an admonition from his Lord and stops eating Riba (usury) shall not be punished for the past; his case is for Allah (to judge); but whoever returns [to Riba (usury)], such are the dwellers of the Fire - they will abide therein.
(English - Mohsin Khan)

via iQuran

Narrated Abu Juhaifa:

The Prophet cursed the lady who practices tattooing and the one who gets herself tattooed, *and one who eats (takes) Riba'''' (usury) and the one who gives it.* And he prohibited taking the price of a dog, and the money earned by prostitution, and cursed the makers of pictures.

«4177» حدثنا محمد بن الصباح وزهير بن حرب وعثمان بن أبي شيبة قالوا حدثنا هشيم أخبرنا أبو الزبير عن جابر قال لعن رسول الله صلى الله عليه وسلم آكل الربا وموكله وكاتبه وشاهديه وقال هم سواء.

The messenger of Allah alyhissolaat wassalaam cursed the eater of ribaa, it's giver and it's writer (accountant/witness/secretary) and said: "they are all the same".

Then when they are about to fulfil their term appointed, either take them back in a good manner or part with them in a good manner. And take for witness two just persons from among you (Muslims). And establish the witness for Allah. That will be an admonition given to him who believes in Allah and the Last Day. *And whosoever fears Allah and keeps his duty to Him, He will make a way for him to get out (from every difficulty).*

*And He will provide him from (sources) he never could imagine. And whosoever puts his trust in Allah, then He will suffice him. Verily, Allah will accomplish his purpose. Indeed Allah has set a measure for all things.*
(English - Mohsin Khan)

via iQuran

lexiconkabir:
JazakAllaah khayra!

I even hate banking job to begin with,

Those that borrow airtime from network providers are also engaging in riba without knowing, people should flee from that!

OLAJADON:

In a situation where u are out of cash and u want to make an urgent call, wat do u do?

Also I want to ask, are there not situations where u have no other choice but to facilitate riba.

lexiconkabir:


I don't think that call is a must and even if it is, there are many alternatives, you can ask from someone that has, you can send "call me back", you can send a text, I mean so many alternatives.
What if where you are, you easy get access to someone that would let you money and you also don't know how to send call me back using your network provider(eg I don't know the code for Etisalat call me back)


I don't think so, especially when all countries(that I know) has non interest banking in their system.

And Allaah knows best.

OLAJADON:

Let take d Nigeria banking sector as an example since they use interest, if we have a Muslim brother that works with them with no other ends to feed his wife and children, do u expect him to resign?
I think taking or giving riba depend on the situation you find yourself although Islam does not support it so I have to try as much as possible also to avoid it but their are situation whereby you have no other choice but to get involve in it
Wallah A'lam

lexiconkabir:


Scholars have ruled out that working in such institution even as a driver is haraam, this might help;

https://islamqa.info/en/21113

By the way, Nigeria also have Non interest banks too.

lexiconkabir:


Scholars have ruled out that working in such institution even as a driver is haraam, this might help;

https://islamqa.info/en/21113

By the way, Nigeria also have Non interest banks too.

lexiconkabir:


Scholars have ruled out that working in such institution even as a driver is haraam, this might help;

https://islamqa.info/en/21113

By the way, Nigeria also have Non interest banks too.

OLAJADON:

Can u name one or two for me.

Contact17:

This is the first time I am hearing this. Do you know the name of any?

lexiconkabir:


Stambic ibtc bank and jaiz bank.

OLAJADON:

Can u name one or two for me.

lexiconkabir:


Stambic ibtc bank and jaiz bank.

OLAJADON:

When I want to open account for non profit which type of account will I demand for? Also loan access in this banks you mentioned is their interest
Tnkz again, you very resourceful.

lexiconkabir:


As per opening of account, I don't know much about that, as I don't have an account with any of them, maybe you can go to any of these banks and make enquiry.

I only got to know about jaiz by an economics lecturer which happens to be the first NIB that came to Nigeria around 2003/2004 and stanbic ibtc through their advert on TV.

OLAJADON:

OK, but what about the loan question does it operate on interest.... Because if it does then their is no different between it and other Nigerian banks(they also don't operate on interest just by depositing with them).

lexiconkabir:


Oh! The loan has no interest, that's why it's called non interest banking in the first place, just go to the bank first sha(preferably jaiz first).

Contact17:


This is the first time I am hearing this. Do you know the name of any?

OLAJADON:

In a situation where u are out of cash and u want to make an urgent call, wat do u do?
Also I want to ask, are there not situations where u have no other choice but to facilitate riba.

OLAJADON:

Let take d Nigeria banking sector as an example since they use interest, if we have a Muslim brother that works with them with no other ends to feed his wife and children, do u expect him to resign?
I think taking or giving riba depend on the situation you find yourself although Islam does not support it so I have to try as much as possible also to avoid it but their are situation whereby you have no other choice but to get involve in it
Wallah Allah

RABIUSHILE04:


Jaiz bank dey na..almost in 11 state in Nigeria sef! One dey Ilorin o..HQ dey Abuja..!

RABIUSHILE04:


Akhee, must you work in a riba based b4 one can feed his family? There are other jobs to do asides that, the problem is the western mentality that a whole meee, graduate working in a pure water company, for instance..igberaga oshi dat is doin us ni. Also you forget that only Allaah provides sustenance not ur working o, if one can seat down and think, and calculate his/her expense in a month and check with his salary, u wil be suprised aw allaah has been merciful! Also, he myt be working in this so called riba based bank and still not be able to feed his wife and kids, this wan na CONFIRM .


Yes he should resign, according to the sharia. Also, majority of muslims do not know the harms of riba, to the extent that Allaah proclaimed war on those who engage in riba; ie the one collecting(cashier, guarantor(ee), etc), one witnessing, one giving, one writing for them, even the one guarding dem(gateman) etc! Did you know riba is worse than zina for like 36 times more, in d sight of Allaah?! Also, did you know eating haram also cause duas not to be answered? Did u know eating haram leads to Allaahs anger? Did you know riba is the major cause of the worlds problem, wen it comes to the millions on the streets esp in the west( US, UK etc) ie buy a aws wif a loan of 50k, and dey say b4 the end of 3 years u wil be paying 80k..and u will first pay the 30k first ooo..and if one is unfortunate, he's not able to pay afta 3 yrs, more interest dey climb am, until, u won't be able to keep up wif d house and sell it to dem..dat is aw de do wif billions of ppl wif dem, No matter wat dem no fit lose!!! This issue of riba is an extensive one oo! Also, the current fitnah we r facing in Nigeria now, majority of it is caused by riba!

#culled
In a nutshell, Riba is forbidden because of the harmful
effects that result from it, such as:
Economic effects, e.g., keeping money idle
and unproductive, and swelling the ranks of
the poor;
Social effects, e.g., cutting ties, creating
enmity and hatred between the poor and
the rich, and spreading corruption and
promiscuity caused by need;
Psychological and spiritual effects, e.g.,
arrogance, looking down on others, hard-
heartedness and exploiting the needs of the
poor.
The above describes the effects of Riba on
the individual level. On the state level,
countries are weakened, their resources fall
under the control of others, they end up
following their enemies’ desires, they are
robbed of their natural wealth and their
problems get even worse. This is what we
see happening in reality. We ask Allaah to
keep us safe and sound..


Allaahu musta'an.

lexiconkabir:


Stambic ibtc bank and jaiz bank.

OLAJADON:

When I want to open account for non profit which type of account will I demand for? Also loan access in this banks you mentioned is their interest
Tnkz again, you very resourceful.

Demmzy15:
I opened with both and I'm considering collecting an ATM. My dad is even considering transferring his salary there.

RABIUSHILE04:


Jaiz bank dey na..almost in 11 state in Nigeria sef! One dey Ilorin o..HQ dey Abuja..!

lexiconkabir:


Oh! Really?! What's the procedure? How much is needed to open an account?

RABIUSHILE04:


Jaiz bank dey na..almost in 11 state in Nigeria sef! One dey Ilorin o..HQ dey Abuja..!