Riba! Interest!

Mufti Menk


Channel: Mufti Menk

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The speaker discusses the concept of "ma'am" and how it is important to learn about the dynamics of the financial system and the laws of economics in Nigeria. They suggest finding a scholar who knows the history of the financial markets and the laws of economics to guide people to make smart choices. The speaker emphasizes the importance of participating in lessons learned from this environment.

AI Generated Transcript ©

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clue Reba, what a clue mallia team to consume usually, and interest to consume it. Sometimes you may have an amount of interest in your account because of the financial system that you might be living in depending on what environment what country you are in, and what the laws are, etc. You take that amount and you give it away to the poor Muslims, no problem, but it's not your amount, you don't eat it. You don't eat it, a cruel Riba to eat that is wrong. to consume that is considered middle movie cut from among that which is very dangerous for you. sinful, it will cause some downfall of yours in this world and the next and what is worse? Let's not talk about bank accounts only. We talk about

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people who are wealthy, they give their money to someone and they tell them I need back with 20% more, you say But isn't that interest? No, it's a profit. What type of profit is this, they will call it any name, but it is still interest.

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Unless they are willing to participate in your business and share the loss if any, then we are talking business. Otherwise, let's learn from our scholars. And we have many scholars here in Nigeria. Let's learn from our scholars the details, let's continue to learn because the financial markets and the laws of economics have changed over time, and they are continuing to change with different types of currencies and so on. We need to be up to date knowing what's right and wrong from those who have knowledge of that. If you were to ask me certain things I will tell you, brother, I have not specialized in that field. Let's find a scholar who has specialized in the

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field, who knows current day markets, who will be able to talk to you as an economist and explain to you logically and properly what Allah allows and what he does not allow. Sometimes you go to a person who doesn't really know about international markets, they will make everything haram for you and it will become impossible to live. And then you might go to someone who's not really bothered about Islamic rules and they will say brother, just eat La hawla wala quwata illa we need a balance. We need someone who knows and someone who can teach us and guide us. So it's important to participate in the lessons of this nature that happened not only in this Masjid, but I'm sure in

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many other circles of knowledge