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According to sunni's riba is haraam, i.e. interest received or given to anyone at any time including to the bank, people, friends, relatives, for house mortgage payments etc etc.

Do Shia's have the same belief about riba?

Evidence from quran would be preferred.

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closed as unclear what you're asking by goldPseudo Dec 8 at 23:46

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"The same belief" about what? About the definition of riba? About the fact that it's haram? –  goldPseudo Dec 8 at 23:46

4 Answers 4

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For sure Riba is Haram in Shia view also, as it's direct order of Quran:

أَحَلَّ اللَّهُ الْبَيْعَ وَ حَرَّمَ الرِّبا

Riba has been declared Haram during all Shia history.

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Not sure what that bottom part means, almost sounds like you're saying that riba is haraam but it's ok to take money from a bank and pay riba? –  nami Nov 16 '12 at 21:15
    
@nami I updated the answer, it's more to the point now –  Ali Nov 16 '12 at 21:29

Is Riba Haram? (Shia View)

To define riba, we can say that riba is usury, lending for an exorbitant interest, which is prohibited in Islam for both giver and taker. Perhaps we can say Riba is prohibited in Islam by Allah because it has some detrimental effects on muslims society and is against of Islamic economical system. God says in holy quran :

يَمْحَقُ اللٌّهُ الرِّبوَا وَ يُرْبِي الصَّدَقَاتِ وَ اللٌّهُ لاَ يُحِبُّ كُلَّ كَفَّار أَثِيم

Allah removes all the good that comes from Riba (Interest) and makes charitable gifts (Sadaqah) prosper, and Allah does not love every sinning, disbelieving person. [Ibid., Verse 276] "Trade is like usury," but Allah hath permitted trade and forbidden usury. Those who after receiving direction from their Lord, desist, shall be pardoned for the past; their case is for Allah (to judge); but those who repeat (The offence) are companions of the Fire: They will abide therein (for ever).” (Quran 2:275).
“O ye who believe! Devour not usury, doubled and multiplied; but fear Allah. that ye may (really) prosper.” (Quran 3:130) “and also see” (Quran 2:276-278-279)
Riba in shia viewpoint (narrations) Hazrat Imam Ja’far as-Sadiq (a.s.):

“Taking a Dirham as interest is worse in the eyes of Allah than doing illegal intercourse with Mahram women.” (al-Kāfi)

Imam ‘Ali (a.s.) says:

“The Holy Prophet (S) has cursed one who accepts interest, one who pays interest, one who buys interest, one who sells interest, one who writes the contract of interest and one who is the witness of this transaction.” (Wasa’il ul-Shia)

Source:
Quran ( http://www.al-islam.org/greater-sins-volume-1-ayatullah-sayyid-abd-al-husayn-dastghayb-shirazi/ninth-greater-sin-usury )

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In the name of Allah the merciful the compassionate

To define riba, we can say that riba is usury, lending for an exorbitant interest, which is prohibited in Islam for both giver and taker.

If the materialistic aspect of world is considered only. one might say: “If we take interest (Riba) then our wealth will increase.” However by looking at things in a deeper context and he will say: “Not only will our wealth not increase by taking interest, rather it will actually decrease!”

God says in holy quran book:

يَمْحَقُ اللٌّهُ الرِّبوَا وَ يُرْبِي الصَّدَقَاتِ وَ اللٌّهُ لاَ يُحِبُّ كُلَّ كَفَّار أَثِيمٍ

“Allah removes all the good that comes from Riba (Interest) and makes charitable gifts (Sadaqah) prosper, and Allah does not love every sinning, disbelieving person.” [Ibid., Verse 276]

Riba is prohibited in Islam by Allah because it has some detrimental effects on muslims society and is against of Islamic economical system.

Riba in shia viewpoint

Riba is investigated briefly from shia view point. It is reported from Hazrat Imam Ja’far as-Sadiq (a.s.):

“Taking a Dirham as interest is worse in the eyes of Allah than doing illegal intercourse with Mahram women.” (al-Kāfi)

Imam ‘Ali (a.s.) says:

“The Holy Prophet (S) has cursed one who accepts interest, one who pays interest, one who buys interest, one who sells interest, one who writes the contract of interest and one who is the witness of this transaction.” (Wasa’il ul-Shia)

Ayatullah Nasir Makarim Shirazi writes in his Ethical Discourses, Volume 1:

When a person looks with precision, he will realize that the society in which interest is freely given and taken will end up in poverty and destruction and will also be plagued with insecurity. However, that society in which there is mutual help and assistance and one in which charity and monetary aid are given to one another is the society which will be successful, honoured and dignified (by Allah (SwT)).

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Just wanted to share a fundamental reason behind why Riba is prohibited.

It takes away love/kindness from people.

People should be lending money to others because they love/like/want to help that other person, not because they want to gain something in return or that they don't want to lose anything in the process of helping!

We should do good because

  • Because reward is to be given by Allah, and not by the interest I get from Ribha
  • I should do good, because I like that person, not because I want something in return. See what Banks do in the west... the moment that you can't pay back the interest, you lose everything!
    • A similar example for Ribha of money is Ribha of Akhlaq: say I help my friend for his exams, and I expect to hear him say 'thank you' or that I expect him to 'treat me different' from now on i.e. I have done the good thing for him to do something in exchange!
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Salaam and welcome to Islam.SE. You draw very good points on the ethics of lending in Islam, however that doesn't answer the questioned asked. Please note that this is not a free discussion forum but a site for focused answers to focused questions. Also have a look at the guidelines on writing good answers at the help center. –  infatuated Dec 16 at 4:50
    
Actually I did! I used my intelligence, which is one of Allah's greatest creation and of greatest measure to know what is right or wrong. Shia's believe that every commandment, surely should have a reason behind it. Reasons are either in the Quran, or in the narrations or what could easily be derived from your wisdom. God doesn't command us to do something while there is no reason to it!!! Otherwise he would not be a wise God. Yet our wisdom (عقل) surely has limits. Let me know if you have comments –  mahdi vaziri 2 days ago
    
The question explicitly asks "Is riba Haram?" and "Do the Shiites have the same view?" demanding evidences from the Quran. Your post doesn't address any of these. At any rate the questions is now closed for clarity problems. –  infatuated 2 days ago

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