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This is a living example that reflects the wisdom of Islamic law in prohibiting leverage and usurious loans. Islam prohibits these tools because they are based on unfair foundations and great risks that lead to the depletion of people’s money in illegal ways.
Why does Islam prohibit leverage and usurious loans?
Riba (interest): Riba is a conditional increase on money lent, and it is forbidden because it leads to clear injustice. When money is borrowed with interest, the debtor bears the additional burden, even if he is unable to repay, which leads to financial distress.
Why does Islam prohibit leverage and usurious loans?
Riba (interest): Riba is a conditional increase on money lent, and it is forbidden because it leads to clear injustice. When money is borrowed with interest, the debtor bears the additional burden, even if he is unable to repay, which leads to financial distress.
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