I am just a weak beliver in allah i like studying about diffirent issues of religion,one of the less unclear subject for me is the issue of RIBA. is RIBA same as interest? there are lot of muslim people living in mortgaged house including HAFIZ. is is this allowed in the UK? some people say that imam abu hanifa RA allowed interest in kafir country also some people refer to hadith of umar R.ANHU that the beloved prophet SAW did not clear the issue before he left this world.and the hadith that support the forbidding of interset are they authentic or not. one day i went to a guys house to do milad nabi and he was asking the imam to make dua that we become namazi ( to make namaz)but i was thinking why this man want us to be namazi while he is paying mortgage is in it that allah declared war if people dont give up riba? why this understands the importance of namz but ignorant of RIBA. please response to this as this will clear some doubts about the relgion.
The Holy Quran will last till Qiyamah and all rulings of it also shall remain till Qiyamah. Likewise, the ruling about riba shall last till Qiyamah and it shall remain unlawful for each Muslim whether he lives in any part of the world. This proof from the Quran is very much strong and all imams followed it. But, as far as loan is concerned it is also not allowed. Yes, a person who is penniless, needy and nobody is ready to give him interest free debt then such a person has been allowed to take loan only as much as necessary. However, it is sin to give interest in loans, but the house built out of it will be allowed to live in.
Allah (Subhana Wa Ta’ala) knows Best
Darul Uloom Deoband