Riba and Gharar are prohibited however, the Sk opinion is to compromise on Gharar but not with regards Riba. However, I understand Sk permits student loans which are Riba based as well. Would be interesting to know why the compromise on Riba for student loans suspect this might be down to the nuance of Riba! Would be great to get Sk Akram Nadwi opinion to reflect the breath in scholarship. I believe he holds the opinion that conventional mortgages to be permissible with due conditions.
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. 2:275 He complicates what Allah and his messenger made simple to understand and will bear that burden on yawmul qiyamah if he does not repent. These ikhwanis trying to find loop holes in huge matters. Fear Allah.
The Prophet, , said: "There will certainly come a time for mankind when everyone will take riba and if he does not do so, its dust will reach him." (Abu Dawud, Kitab al-Buyu', Bab fi ijtinabi al-shubuhat; also in Ibn Majah)
He mentions compromising on Gharar (uncertainty) not Riba which he clearly says. This interview is merely an introduction into Islamic finance not anything detailed.
Assalamu alaykom, would be great to hold an interview with Shiekh Haitham on islamic mortgages soonest!
Riba and Gharar are prohibited however, the Sk opinion is to compromise on Gharar but not with regards Riba. However, I understand Sk permits student loans which are Riba based as well. Would be interesting to know why the compromise on Riba for student loans suspect this might be down to the nuance of Riba!
Would be great to get Sk Akram Nadwi opinion to reflect the breath in scholarship. I believe he holds the opinion that conventional mortgages to be permissible with due conditions.
Student loans aren't riba-based according to the sheikh. You can find his article on islam21c.com
www.islam21c.com/islamic-law/new-fatwa-on-student-loans/
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.
2:275
He complicates what Allah and his messenger made simple to understand and will bear that burden on yawmul qiyamah if he does not repent. These ikhwanis trying to find loop holes in huge matters.
Fear Allah.
The Prophet, , said: "There will certainly come a time for mankind when everyone will take riba and if he does not do so, its dust will reach him." (Abu Dawud, Kitab al-Buyu', Bab fi ijtinabi al-shubuhat; also in Ibn Majah)
He mentions compromising on Gharar (uncertainty) not Riba which he clearly says. This interview is merely an introduction into Islamic finance not anything detailed.