It was obvious that Islam prohibits the practice of riba’ (usury/interest) as Allah said in the Holy Quran (Al-Baqarah:275):
وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا ...
“Allah has permitted trade and has forbidden interest”
The main pillar of Islamic banking is the practice of Riba-free transactions.
Even according to the books of Heaven, (Torah and Bible) stated that interest was evil. In Judaism the enforcement of prohibition of Riba’ are applied only to among Jews but it is compulsory to be applied on the non-Jews (Goyyim). While in Christianity, it is more stern on the prohibition of riba practice, thus it is a sin for a lender to claim for repayment on the loan from the borrower. However, in Islam, it is permissible to claim the loan but even better to release the borrower from the debt.
In conclusion, all of religions in this world are prohibit the practice of riba as it is one form of oppression towards the poor and the needy. In fact, all religions are promoting welfare, brotherhood and harmony. Therefore, the practice of riba’ may lead to other social/criminal problems.
Wallahua’lam
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