Interest-Free Loans* [[---Episode Six---]]

 *Interest-Free Loans*

[[---Episode Six---]]
--------------------------------

*Final Episode*

بسم الله الرحمان الرحيم

For refusing to pay back loans, the people who have not have made the people who have money, to be weeked by refusing to render help to the genuine borrowers who have intentions to pay back.. And the manner in which Islam encourages those who have enough wealth to give interest free loans to those who request it,, the same way Islam encourages the beneficiaries of the loan (ie - borrowers) to fulfill their promises of paying back ontime and in full.

Although,

When it comes to payment date but the borrower is GENUINELY in difficulty or short of money and asks for some time, if the lenders give him times, then, for ever each day the payment is delayed, the lender will get the reward of giving sadaqah.

Meaning,

When somebody gives loan of say - 100dollars and the due date has come but the debtor asks for time because he is in difficulty. If creditor gives him time he will get reward for sadaqah of same amount (100dollars) every day - for all the days extended.

Evidence:

The Prophet (PBUH) said: “Whoever gives respite to one in difficulty, he will have (the reward of) an act of charity for each day. Whoever gives him respite after payment becomes due, will have (the reward of) an act of charity equal to (the amount of the loan) for each day.” – 📚Ibn Majah

Now,

Continuation of episode 1, 2, 3, 4 & 5 - as promised

*The Rules of Lending Money:*

*Rule 3:* Any money lending transaction in Islam should be written. Both parties must prepared written documents which include the payment of the money lent. Yes. The purpose of the document is to avoid dispute and conflicts that may happen in the future.

But,

Regarding the above, (money lending transaction in Islam should be written) Allah (swt) has given exceptions, where He say:

".....فَإِنْ أَمِنَ بَعْضُكُم بَعْضًا فَلْيُؤَدِّ ٱلَّذِى ٱؤْتُمِنَ أَمَٰنَتَهُۥ وَلْيَتَّقِ ٱللَّهَ رَبَّهُۥۗ

"..... And if one of you entrusts another and did not write the transactions down, then let him who is entrusted discharge his trust [faithfully] and let him fear Allah, his Lord. 📚Al-Baqarah 2:283

*Rule 4:* When the time of payment arrives, the borrower should pay it on time. Delaying the debt payment is a grave sin. As the Prophet (peace be upon him) said, as narrated by Abu Hurayrah (RA): *“Delay in repaying debts by a wealthy person is oppression.”* 📚Bukhari

Finally,

All the six episodes of this article pumped out to us some of the virtues of lending money in Islam and the consequences of collecting people's monkey in the name of borrowing and refusing to pay back without strong genuine unavoidable reasons... The six (06) episodes of this article should motivate us to be helping our fellow Muslim brothers & sisters who are in need when we have.. May Allah (swt) always bless us in every step that we take. Ameen!

Allah alone knows best


سبحانك اللهم وبحمدك نشهد ان لا اله الا انت نستغفرك ونتوابوااليك