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Al-Baqarah 2: 274–5


but you will know them by their countenance, although they do not go about begging of people with importunity. Whatever wealth you spend on helping them, Allah will know of it.

(274) Those who spend their wealth by night and by day, secretly and publicly, will find that their reward is secure with their Lord and that there is no reason for them to entertain any fear or grief. (275) As for those who devour interest, they behave as the one whom Satan has confounded with his touch.97 Seized in this state they say: “Buying and selling is but a kind of interest,”98 even though Allah has made buying and selling lawful, and interest unlawful. ▶

97 The Arabs used the word majnun (possessed by the jinn) to characterize the insane. The Qur’an uses the same expression about those who charge interest.

98 The unsoundness of this view lies in not differentiating between the profit one gains on investment in commercial enterprises on the one hand, and interest on the other. As a result of this confusion, the proponents of this view argue that if profit on money invested in a business enterprise is permissible, why should the profit accruing on loaned money – that is interest – be deemed unlawful?

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