Tag: islamic finance

Islamic Banking VS Conventional Banking


by: Dr. Zaharuddin Abd Rahman [al-naqiy]

Many still do not understand the differences between the products and services offered by Islamic banking and conventional banking. Many are still saying that Islamic products and services are just conventional products that have been window dressed. Some even claim that Islamic banking only changes the terms such as ‘interest’ into profit rate, ‘Ujr or wage cost, and other Arabic terms are viewed by critics as tricks. These general statements should not be made without knowing exactly how an Islamic bank operates, as such statements will inhibit the revival and development of the Islamic banking industry. We do acknowledge that there are problems in the implementation process and other problems in Islamic banking. However, in my opinion, it is normal to experience difficulty before achieving success.

All parties, whether Syariah scholars, lawyers, judges, customers or the Islamic bank administration, are still in the learning process. It is undeniable that mistakes will occur here and there throughout this process. Islamic banking is still in the process of maturity and achieving perfection. Thus, deficiencies will occur throughout this journey. Yet, these deficiencies do not make Islamic banking haram and invalid. Just like a new Muslim who has yet to perform the five daily solah (prayers) as he is in the process of learning and understanding it, this falls under the forgivable category. What really matters is that the process is heading forward (i.e. improving) and not falling backwards.

Some of the deficiencies are due to lack of knowledge amongst the administration. Consequently, people may get an inaccurate perception of Islamic banking. The Syariah strength and observance of an Islamic bank depend strongly on the hard work of various parties, inside and outside the bank. The people who determine that Syariah compliancy is adhered to are the Chief Executive Officer (CEO), the Product Development Department, the Syariah Advisor and the Syariah Department of the bank. They are responsible for Syariah compliancy within the bank.

Without hard work and wisdom, an Islamic bank or Islamic banking will take the easy route and just copy the products and systems of conventional banking, without observing the implementation aspect of the Syariah. Society should clearly understand that the Islamic banking system has revolutionized the relationship between the customer/saver and the bank. The relationship between the customer and a conventional bank is through the loan contract that entails interest on the principal. The borrower must pay the bank within the stipulated period.

Islamic banks have changed the borrowing relationship to various concepts that are acknowledged in Islam such as partnership (Musharakahor Mudharabah), or seller (bank) and buyer/renter (customer). Changes in the relationship are not only with the ‘aqad or contract, even asset ownership has changed and is accepted by Malaysian law. This means, from the legal point of view, the trading or renting process does take place. However, many customers of Islamic banks do not recognise the efforts of Islamic banks in making changes as they do not read the contracts they sign.

The partnership principle in the finance products also offers customers profit sharing with the bank. However, if the customer faces a loss, the Islamic bank will bear part of it based on this contract. A banking system devoid of riba fulfills the needs of both customers and the general public. Islamic banking, through the introduction of Islamic concepts, has successfully generated large profits in the business it participates.

Nevertheless, the main concern of Islamic banking is to ensure that every bit of its business process is Syariah compliant and this is more meaningful than reaping more profit. This main concern is a commitment, responsibility and preservation of the trust granted by Allah s.w.t. to human beings, which emphasizes the principle of cooperation amongst humans in fulfilling each respective need.

Everyone should resist from comparing the application and productsof an Islamic bank and that of a conventional bank. The “apple to apple” comparison is not fair in this case; it is like comparing the rules and discipline of soccer and hockey. Although both games are played on the field, they have completely different concepts and disciplines.

The differences are as follows: Conventional Banking Islamic Banking

Conventional Banking Islamic Banking
Its functions and operationsare based fully on man-made FUNCTIONS & OPERATIONS Its functions and operations follow the Qur’an and the Sunnah as much as possible.
In its investment product, theinvestor is promised a fixed

rate. In reality, it is a riba based

loan activity.

INVESTMENT PRODUCTS In its investment product,an Islamic bank promotes the sharing of risk andprofit between investor and investment fund manager.There is no fixed profit

promised. Division of profit is based on real profit.

Aiming for profit withoutreligious or moral boundaries. AIM Aiming for profit that adheres to Islamic discipline that is limited to that which benefit society.
Ignores zakat. ZAKAT Pays zakat as it is a social responsibility fulfilled by Islamic banks.
The retail loan product applies the system of giving out loans with multiplied interest. RETAIL LOAN Its retail product utilizes thetrading or renting of an asset,and not the loan contract.
Charging a compounding penalty on a loan if there is late payment. PENALTY Charges compensation for any late payment, but it does not go toward the bank’s earnings.Instead, it is channeled directly to charity.
The main priority is to protect the bank’s interest; no priorityis given to ensure equity development. PRIORITY Emphasize projects that benefit society. The mainaim is to ensure equity development.
Loans given by conventional banks are simple, no asset required. Their concept is “money breeds money.” REQUIREMENT OF ASSET Money is not generated through loans. Thus, any loan should have an underlying asset.
Evaluation stresses on the ability of the borrower to pay off the loan. Not much attention is given to the progress of the customer’s project. EVALUATION Evaluation also stresses on the potential or viability, performance and prospect of the project that is being financed.
Earn revenue from fixed interest charged to the customer. REVENUE EARNED Profit according to the concept of sharing profit-loss; the bank gives more attention on investing in project development.
The bank-customer relationship: loan lender and borrower. RELATIONSHIP The bank-customer relationship: seller, buyer or partner.

Excerpt from Al-Naqiy; an Islamic Finance organisation.



Forms of Riba and its Hukm (Rulings)

Author of book: Dr. Zaharuddin Abd Rahman

Retyped on site by: Muaz.

Definition of Riba in the most absolute form – which includes both the jami’ (comprehensive) and mani’ (restrictive) meanings.

Forms of Riba

The Shafi’ee mazhab divides riba into 3 forms.

  • Riba al-fadl
  • Riba an-nasiah
  • Riba al-yad


The interest rate caused by duration

Riba al-qard

That is the rate or any additional benefit conditioned on the principle.

This condition is made at the beginning of the loan contract, introduced by the lender upon the borrower.

Riba al-jahiliyyah

That is the rate or any additional benefit exceeding the principle due to the borrower’s failure in paying of the loan within agreed time.

The lender will impose a fine on the borrower because of his request to delay the debt repayment or due to his failure in paying off debts within a fixed period.


The inequality of weight or quantity of the two usurious items exchanged or in deferment

Riba an-nasak

 The trading or exchanging of two usurious items of the same kind in deferment. (i.e. transaction is not completed on the spot)


  • 5 grams of gold sold at $2 000 in deferment
  • 10 kg of rice exchanged with 15 kg wheat in deferment

Riba exists when the above transaction takes place in deferment.


Riba al-fadl

The trading or exchanging of two usurious items of the same kind with different weight or quantity.


  • Exchanging 5 grams of gold (grade 916) with 6 grams of gold (grade 750).
    • This is haram because both items should be of equal weight. The grade/quality does not affect the hukm
  • Exchanging or selling 10 grams of basmati rice with 15 grams of A1 graded rice.
    • This is haram because both items should weight 10 grams.

To avoid Riba al-Fadl and Riba an-Nasak:

  1. The weights must be equal (although may differ in quality and value)
  2. The transaction must be concluded on the spot (both seller and buyer cannot depart until they deliver their respective items)

The Ruling of Riba in Islam


O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers. And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal – [thus] you do no wrong, nor are you wronged.

[Surah al-Baqarah 2:278-279]

Punishment in this world

A sign of the wealth of those who deal with riba is not blessed:

  • it diminishes swiftly without them realising it
  • it drives them to indulge in activities that is worthwhile and sinful
  • no matter how much money they have, they constantly feel impoverished
  • it will drag the owner towards disobedience and transgression and thus his good character and trustworthiness will fade away

–          his wealth will be tested through robbery and treachery

Punishment in the Hereafter

Ibn Abbas stated:

“It will not be accepted from the consumer of riba (who uses his riba-based wealth) his charity, his hajj, his jihad and his extending of kinship.”


Commiting zina with one’s own parent


“Riba is of seventy-two types: the least of them is equivalent (in sin and filthiness) to a man having intercourse with his mother.”


(At-Tabrani, 7/158; al-Hakim)

Commiting zina 36 times


“A dirham that a person knowingly eats of riba is worse, before Allah, than thirty-six acts of zina.”


(Related by Ahmad & Ad-Dar Qutni)

“Avoid the seven deadly sins: shirk, black magic, killing someone without just cause, eating an orphan’s property, consuming riba, running away from the battlefield and accusing chaste woman of fornication.”

 (Related by al-Bukhari and Muslim)

Taken from the book: “Money, You & Islam” by Dr. Zaharuddin Abd Rahman


Introduction to the Fiqh of Mu’amalat (Jurisprudence of Transactions)

This post is extracted from the book: Money, You & Islam by Dr. Zaharuddin Abd Rahman

Retyped on site by: Muaz R.

The knowledge of Islamic finance can be further explained as follows:

Chapter 2 fig 1 edit

Based on the diagram above, it is evident that the knowledge of finance management and wealth falls under the branch of Syariah, which directs the actions and affairs of every life.

The diagram was not derived from the Qur’an or hadith, rather, the scholars of Islam formulated in order to facilitate the learning process as well as to avoid misunderstanding in every focal group of knowledge outlined above.

According to its origin, the word ‘Mu’amalat’ encompasses all the hukm (ruling) and ordainment of the Syariah in the worldly affairs of humans amongst themselves.

Ibn ‘Aabidin stated: “The components of Mu’amalat are divided into five; wealth exchange, marriage affairs, juristic affairs, inheritance affairs and amanah (trust).”

Nonetheless, a majority of the Fiqh scholars specify it to the ahkaam (rulings) pertaining to wealth only.

Part 1: Fundamental Principles of Fiqh Mu’amalat

Financial administration encompasses many forms and processes. Furthermore, it matures well with time and becomes more complicated progressively. Therefore, the scholars laid out the fundamental principles in Fiqh Mu’amalat, based on rudimentary and substantial evidences, in order to derive hukm.

“The fundamental ruling in the affairs of mu’amalat is the consideration of its intent and well-being (that can be acquired from it).”

In order to explain further on how a hukm in the affairs of mu’amalat is formulated based on the objective to be fulfilled, we look at the ruling of a ruler’s intervention in setting the market price of an item. It is narrated in a hadith:

“The prices had spiked during the time of the Prophet s.a.w. So, the people said, “O Messenger of Allah, fix prices for us.
 Thereupon the Messenger of Allah said, “Verily, Allah is the one Who fixes prices, Who withholds, Who gives lavishly and provides, and I hope that when I meet Allah, none of you will have any claim on me for an injustice regarding blood or property.”

(Related by: Abu Dawood, no 3451; At-Tirmidhi, 1/247: Ibn Hibban, Ibn Hajar and Albani: Sahih)

The scholars view the prohibition of ‘setting’ a particular price during the time of Prophet Muhammad s.a.w. from the perspective of fulfilling the objective of upholding justice. It is based on the above-mentioned principle that highlights:

“The fundamental ruling in the affairs of mu’amalat is based on reasons and objectives.”

After a thorough analysis, the scholars agree unanimously that the maqasid (objective) behind the Prophet s.a.w.’s rejection of his companion’s appeal was to prevent injustice and violation of the seller’s rights in gaining profit according to the market price. Furthermore, there was no oppression during that period.

Nevertheless, when a monopoly on certain items occurred during the time of the taabi’een (the generation following the companions), the scholars of that time, such as Sa’id ibn Musayyab, Yahya ibn Sa’id al-Ansari and others, unanimously agreed that it was permissible upon the Islamic ruler to set a ‘maximum price’. This was, in fact, to prevent injustice upon the buyers. In the previous daleel (evidence), Prophet Muhammad s.a.w. intended to prevent injustice upon the sellers, while in this very case, the scholars of taabi’een derived the hukm of the ‘prohibiton’ to be permissible due to the maqasid to be fulfilled, which was to prevent injustice upon the buyers.

Part 2: Contracts of Islamic Mu’amalat

Chapter 2 fig 2 edited

Each contract entails its own conditions and pillars. In certain cases, one transaction may include two or three contracts. Thus, it is recommended that all the conditions of the contracts are observed.

Part 3: Pillars and Conditions of trading in Islam

The definition of trading in Islam is:

“Exchanging the ownership of property with another property for owning and being owned upon eternity.”

The scholars unanimously agree that trading is lawful based on very clear evidences such as:


“…Allah has permitted trading.”

[Al-Baqarah 2:275]

“But take witnesses whenever you make a commercial contract.”

[Al-Baqarah 2:282]

In order to gain profit, a financial institution usually uses a trading contract with customers. For that purpose, both parties must observe the pillars and conditions of trading.

Below is the summary:

Chapter 2 fig 3 edited

End of Chapter 2: Introduction to the Fiqh of Mu’amalat (Jurisprudence of Transactions) of the Islamic Finance Series.

– Money, You & Islam by Dr. Zaharuddin abd Rahman

Riba Dalam Jual Beli – Ustaz Zaharuddin Abdul Rahman

[Excerpt from rudyherman.com]

Riba Dalam Jual Beli
Ustaz Zaharuddin Abdul Rahman
Rakaman program Bicara Muamalat, IKIM FM

Allah menghalalkan jual beli dan mengharamkan riba.

Allah berfirman bahawa di akhirat orang yang makan riba akan dibangkitkan dalam keadaan disantau kerana di dunia mereka mengatakan jual beli sama dengan riba.

Dari ayat ini, ulama berbincang apakah beza jual beli dengan riba.

Cabaran umat Islam kini ialah untuk mengenal pasti mana satu untung yang haram dan untung yang halal. Di antara bentuk yang serupa tapi tak sama:

  • Orang A beri pinjam kepada B $1000 tetapi minta dipulangkan $1200. A akan untung $200. Ini riba.
  • Jual beli pula, seseorang itu membeli sebuah laptop dengan harga $1000 dan menjual semula dengan harga $1200. Untungnya $200.

Imam Ibnu Abbas mengatakan riba itu ada penambahan yang halal dan ada penambahan yang haram.

Penambahan yang halal melibatkan penjualan aset. Seseorang itu menjual komputer dan dengan itu ramai orang lain dapat manfaat daripada urus niaga itu, seperti pembekal, pekerja komputer mendapat manfaat dan sebagainya.

Riba hanya menguntungkan satu pihak sahaja.

Walaupun jual beli berbeza dengan riba tetapi riba juga boleh terdapat di dalam jual beli.

Hadith: “Emas dengan emas (ditukar atau diniagakan), perak dengan perak, gandum dengan  gandum, barli dengan barli, tamar dengan tamar,  garam dengan garam mestilah sama timbangan dan  sukatan, dan sekiranya berlainan kategori ini, maka berjual belilah kamu sebagaimana yang kamu sukai  selagi ia dilakukan secara tunai.”

Jadi kalau bercanggah dengan apa yang disebut iaitu sama berat dan serta-merta, maka jadilah riba.

Contohnya, A tukar dengan B 10g emas dan B berikan 11g emas, maka sudah jadi riba fadl. Jika A berikan 10g emas dan B berikan 10g emas dalam bentuk yang lain tetapi B berikannya esok, maka hukumnya riba nasiah.

Hukum asal dalam muamalah mesti melihat kepada illa (sebab berkesan, effective cause), dan jika illa itu ada dalam sesuatu transaksi, maka hukumnya ada. Jika tidak ada illa maka tidak ada hukumnya.

Usul fiqh: Hukum akan bersama dengan illa, ada dan tiada.

Illa sifatnya mesti berlaku sama kepada semua orang (standard). Illa juga boleh diguna kepada benda-benda lain dan tidak semestinya emas dan perak.

Maka ulama hari ini berbincang bagaimana status wang kertas, kerana wang kertas tidak ada di zaman Nabi. Ulama memutuskan wang kertas telah mengambil tempat mata wang emas yang digunakan dulu. Wang kertas ada illa seperti wang emas yang ada pada zaman nabi.

Mengikut pandangan Imam Ahmad dan sebahagian ulama Maliki, Nabi menyebut emas dan perak kerana emas dan perak  mempunyai (mutlaq thamaniyah) pengiktirafan kepada nilainya iaitu siapa yang mengiktiraf nilainya sebagai medium pertukaran maka ia akan menjadi mata wang.

Wang kertas tetap kertas tetapi nilainya diiktiraf sebagai mempunyai nilai pertukaran. Contohnya, A tukar sebatang pen dengan wang kertas $10, penerima $10 itu bersetuju walaupun wang kertas itu hanya sekeping kertas. Maka illa itu telah berpindah dari emas perak kepada wang kertas. Oleh itu, dalam pertukaran wang kertas maka pastikan jangan melanggar dua syarat iaitu penambahan dan penangguhan, jika tidak ia menjadi riba.

Masalah kedua, wang kertas wujud dalam bentuk wang dari pelbagai negara. Maka setiap negara mewakili item yang berbeza. Emas tukar dengan perak mesti serah terima dalam satu masa tetapi berat berbeza tidak mengapa jika tidak sama. Begitulah hukum duit kertas jika hendak tukar wang ringgit dengan dolar, serah terima mesti satu masa tetapi nilai boleh berbeza.

Contoh: Tukar wang $100 di bank, bank kembalikan $95. $5 ialah caj pentadbiran. Hukumnya riba fadl kerana pertukaran $ dengan $ tidak sama nilai.

Contoh: Tukar wang $100 di bank untuk mendapatkan wang kecil. Tetapi dalam masa pertukaran kita beredar untuk ke tandas. Perbuatan beredar ke tandas itu sudah menjadi riba nasiah sebab tidak berlaku dalam satu masa.

Nabi tidak menggalakkan untuk kerap membuat pertukaran kerana wang kertas ialah medium of exchange bukan untuk jual beli wang itu. Jika tidak, fungsi mata wang sudah rosak seperti yang dikatakan oleh Imam Ghazali.

Tukar wang di pengurup wang hendaklah tukar dan terima dalam satu masa.

Dalam insurans konvensional, dengan membayar premium kita akan mendapat wang berganda jika berlaku sesuatu kejadian. Sepatutnya nilai wang mesti sama. Tetapi sebahagian ulama menganggap sebagai riba dan ada ulama yang tidak menganggap sebagai riba. Insurans ada elemen riba dan elemen judi.

Contoh: A beri $1000, B berikan pada masa lain, ini juga riba.

Contoh: Membeli emas wafer atau syiling tetapi bayarannya tangguh. Emas adalah emas, mata wang seperti perak. Maka emas tukar dengan perak syaratnya mesti dalam satu masa, jika tidak jadi riba.

Pembelian ini boleh bayar secara tunai atau menggunakan cek. Cek, bayaran online (TT) atau debit card juga dianggap sebagai tunai.

Pembelian emas perhiasan ada khilaf. Ikut empat mazhab pembelian perhiasan dikira sebagai emas kerana perhiasan wanita masih dikenakan zakat. Kalau ia bukan sifat emas maka ia tidak dikenakan zakat.

Ulama kontemporari berpendapat pada waktu ini ramai orang beli emas perhiasan secara bertangguh. Jika difatwakan dengan fatwa yang melarang maka keadaan akan menjadi lebih mengelirukan. Rasulullah jika diberikan pilihan dua perkara maka Rasulullah akan mengambil yang mudah selagi yang mudah tidak bercanggah dengan hukum.

Ulama Malaysia mencari hukum yang mudah kerana masyarakat di Malaysia belum cukup kefahaman dalam bab ini. Maka fatwa diambil dari fatwa Muawiyah Abu Sufyan dan Sh Yusuf Qardhawi yang mengharuskan kerana keperluan membeli emas perhiasan walau secara bertangguh.

Saya (Ust Zaharuddin) nasihat kepada diri saya dan tuan-tuan, kalau boleh elak, maka jangan terlibat. Nabi bersabda, tinggalkan apa yang kamu ragu kepada apa yang tidak kamu ragu.

Mengenai medical card.

Jual beli emas dan masukkan khidmat ar rahnu. Penjual jual emas kepada pembeli. Tetapi pembeli tidak cukup wang. Penjual pembeli pergi ke bank, pajak di bawah nama pembeli. Penjual mengambil wang pinjaman dari bank dan baki harga emas ditambah oleh pembeli. Maka penjual sudah dapat pembayaran penuh bagi emas tersebut. Pembeli bayar ansuran kepada ar rahnu.

Saya buat satu perkhidmatan pembayaran melalui kad kredit. Bagaimana hukum pelanggan menggunakan kad kredit konvensional?

Melabur emas cara bukan Islamik, hanya dapat buku yang mengatakan berapa kilogram yang dibeli. Beli permata, adakah kena zakat? Beli gold bar, satu ada ukiran dan satu tidak ada ukiran. Ukiran dikenakan upah. Apakah hukumnya upah itu?

Riba: Apakah itu Riba? (Pengenalan Riba) – Interest

Teks ini diambil dari buku bertajuk “Riba dan Isu Kewangan Semasa” oleh Ust. Dr. Zaharuddin Abd Rahman. Saya harap dengan ini, ia boleh manfaatkan orang Islam terutama di Singapura, Malaysia & negeri berdekatan. In sha Allah.

Definasi Riba (Interest)

Riba dari sudut bahasa adalah pertambahan dan peningkatan. Manakala pengertiannya dari sudut istilah tidak dispekati dan mempunyai kepelbagaian pandangan berdasarkan kefahaman dan hujah masing-masing.

Ia menrangkumi riba yang terhasil daripada jual beli barangan ribawi dan juga merangkumi riba yang terhasil daripada hutang.

Hukuman Riba dalam Islam

Imam al-Nawawi r.a (wafat pada 676H) berkata: “ijma’ (disepakati semua sahabat dan ulama) tentang pengharaman riba dan ia termasuk dalam kategori dosa besar. Ada pendapat menyatakan riba juga diharamkan oleh semua agama, ini disebutkan oleh antaranya Imam al-Mawardi.” 54

Di sini, saya sertakan beberapa nas al-Quran dan al-Hadis yang menerangkan perlihal besarnya dosa riba yang menjadi sebab mengapa saya menumpukan masa yang lebih lagi menyelamatkan masyarakat Islam daripada terjebak dengannya.

Pemakan dan pemberi riba diperangi Allah swt dan Rasulullah saw



Wahai orang beriman, bertakwalah kamu kepada Allah swt dan tinggalkanlah saki-baki riba sekiranya kamu benar-benar beriman, sekiranya kamu tidak meninggalkannya, isytiharkanlah perang dengan Allah dan Rasul-Nya.55

Surah Al-Baqarah 278-279

Ayat ini menunjukkan sesiapa yang engan dan masih berdegil untuk meninggalan “saki baki” riba dalam kehidupannya dengan sengaja, maka dia akan berada dalam posisi peperangan dengan Allah swt dan Rasulnya. Ayat ini menyebut “saki baki” menunjukkan sesiapa yang ingin benar-benar menurut Sunnah dan menjadi Mukmin sejati, dia perlu berpengetahuan tentang riba serta menjauhkan diri daripadanya secara total (keseluruhan).

Zahir pada ayat ini juga membayangkan peperangan itu juga berlaku semasa di dunia lagi. Malanglah bagi seseorang atau pemimpin yang tidak mengambil endah perlihal ini.

Ibn Abbas r.a diriwayatkan berkata:

Akan dikatakan kepada pemakan riba di hari kiamat, ‘Ambillah senjata kamu untuk berperang dengan Allah swt.

[Jami’ al-Bayan’an Takwil Ayyi al-Quran, al-Tabari, 3/68; al-Durr al-Manthur, al-Suyuti, 3/366]

Abu Hanifah r.a pula berkata: “Inilah ayat al-Quran yang paling menakutkan” (Ibid, al-Tabari, Hamisyh al-Naisaburi, 4/73)

Imam Malik bin Anas r.a pula berkata:

Telah kubuka lembaran-lembaran Kitab Allah dan Sunnah Nabi saw dan tidak kudapati (dosa) yang lebih buruk daripada riba, kerana Allah swt mengisytiharkan atau mengizinkan perang ke atas-nya.

[Al-Jami’il Ahkam al-Quran, al-Qurtubi, 3/364]

Berkata Imam Qatadah r.a: “Allah menjanjikan ahli riba dengan hukuman bunuh dan akan mendapatkannya di mana sahaja mereka berada.” (Ibid. Al-Tabari, 3/72)

Kehilangan berkat harta dan kehidupan

Allah swt berfirman:


Allah menghancurkan keberkatan kerana riba dan menambah keberkatan daripada sedekah. Dan Allah tidak suka kepada orang kafir lagi berdosa.

[Al Quran – Surah Al-Baqarah 2:276]

Kehilangan berkat itu akan berlaku di dunia dan di akhirat:

  • Di dunia
    • Bentuk-bentuk kehilangan berkat pada harta orang yang terlibat dengan riba adalah dengan mudah hilang atau habis harta tersebut daripada pemiliknya kepada pelbagai bentuk yang tidak berfaedah dan membawa kepada dosa, sehinggalah dia berasa miskin dan fakir (walaupun dia mempunyai wang yang banyak). Selain itu, harta tadi akan mendorong pemiliknya melakukan maksiat, kefasiqan, dan menghinakan diri di sisi Allah swt. Lalu, hilanglah sifat amanah, cenderung kepada rasuah, penipuan, dan tamak haloba. Dia juga ditimpa ujian seperti dirompak, dicuri, dikhianati, dan doa orang yang dizalimi daripadanya juga lebih makbul.
    • Sabda Nabi saw daripada Ibn Mas’ud ra: “Seungguhnya riba walaupun lumayan (dari sudut kuantiti) tetapi hasilnya ia akan membawa kepada sedikit dan papa.”
  • Di akhirat
    • Ibn Abbas r.a. berkata: “Tidak diterima daripada pemakan riba (yang menggunakan harta riba) sedekahnya, hajinya, jihadnya dan persaudarannya.” [Al-Jami’ li Ahkam al-Quran, al-Qurtubi, 3/362; al-Zawajir, ibid. 1/224]

Seperti berzina dengan ibu bapa sendiri

Nabi saw bersabda:
Riba mempunyai 73 pintu, riba yang paling ringan (dosanya) seperti seorang lelaki berzina dengan ibunya.
[Ibn Majah, 2/764; al-Hakim, 2/73 sahih menurut syarat al-Bukhari dan Muslim]
Lebih berat atau sama dengan 36 kali perzinaan

Nabi saw bersabda:

Satu dirham riba yang dimakan oleh seorang lelaki dalam keadaan dia mengetahuinya lebih buruk daripada berzina sebanyak 36 kali.

[Musnad Ahmad 2/225; al-Daruqutini, hlm 295; al-Albani mengatakan sahih dalam Ghayat al-Maram gi Takhrij Hadis al-Halal wa al-Haram li al-Qaradhawi, hlm 103]

Salah satu daripada tujuh dosa besar

Ia berdasarkan hadis Nabi saw:

Jauhilah tujuh dosa besar; syirik, sihir, membunuh tanpa hak, makan harta anak yatim, makan riba, lari dari medan peperangan (kerana takut) dan menuduh perempuan yang suci dengan zina (tanpa saksi adil).

[Riwayat al-Bukhari, no 2615 dan Muslim, no. 272]