Assalamualaikum Warahmatullahi Wabarakatuhu
I want to buy a car from a dealership here in America, which is offering a 1.6% APR financing rate which is also known as interest or sood. As far as I know, buying anything with the involvement of interest is considered haram. However, can you please explain why is interest haram in Islam? Please provide reference from Quran and Hadith. It will be a great help if you can provide an answer soon.
JazakAllahu Khaira
Walaikumassalam Warahmatullahi Wabarakatuhu
الجواب وباللہ التوفیق
Interest has been prohibited and rendered impermissible because according to the Quran and Hadith, Allah Subhanahu Wa Ta‘ala and Rasulullah Sallallaho Alyhi Wasallam have rendered it haram. It is enough for a Muslim that he learns about the actions considered permissible and impermissible accoding to Islam and then act upon it without researching the maslihat (underlying benefits) in those commandments. The ulamah kiram have written books on the calamaties of interest and have explained the catastrophe resulting from getting involved in interest based transactions. You can read those books for further details. There are numerous verses of Quran and ahadith of Rasulullah Sallallaho Alyhi Wasallam regarding this, please review a few as follows:
{اَحَلَّ اللّٰہُ الْبَیْعَ وَحَرَّمَ الرِّبَا} [البقرۃ، جزء آیت: ۲۷۵]
{لاَ تَأْکُلُوْا الرِّبٰوا اَضْعَافًا وَمُضَاعَفَۃً(سورۃ آل عمران ، آیت نمبر ۱۳۰)
عن جابر بن عبد اللّٰہ رضي اللّٰہ عنہ قال: لعن رسول اللّٰہ صلی اللّٰہ علیہ وسلم آکل الربوا ومؤکلہ وکاتبہ وشاہدیہ، وقال: ہم سواء۔
(صحیح مسلم ۲؍۷۲ رقم: ۱۵۹۸، سنن الترمذي ۱؍۲۲۹ رقم: ۱۲۰۶)
فقط واللہ اعلم بالصواب