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Why is bank interest haram?

Answered as per Hanafi Fiqh by Qibla.com

Answered by SunniPath Answer Service Team

Could you please state why taking interest is haram, i mean the logical way to look at this question whithout quoting the Noble Quran (although it suffices and is evident enough that the Quran has made Interest haram). i.e. It dosent solve the problems of the world at large its only to increase the wealth of a few causing the world’s poverty to go on the increase etc. 

Answer:
In the Name of Allah, Most Gracious, Most Merciful

Assalamu alaikum wa rahmatullah

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Jazakum Allah khayr.
And Allah alone gives success.

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This answer was indexed from Qibla.com, which used to have a repository of Islamic Q&A answered by various scholars. The website is no longer in existence. It has now been transformed into a learning portal with paid Islamic course offering under the brand of Kiflayn.

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