The strict prohibition of relate in Islam is a result of its deep concern for the economic, moral, and complaisant welfare of mankind. Muslim scholars run through sound arguments explaining the wisdom of this prohibition, and fresh studies have confirmed their opinions, with some additions and extensions of their arguments
Economic: From economic brain of view, this has proved to be detrimental to the collective benefits of the baseball club. If we define stakes in purely economic terms, we can say that it is generation of wealthiness during a specific period, without any cultivatable performance.
Now imagine that irrespective of the performance of other productive factors, the owner of hotshot factor i.e. capital is asking that you have to give me fixed return, irrespective of whatever gets produced. There is no guarantee that even any productive activity would bear off place or non. On the contrary he is not taking any risk at all. Does it seem justifiable.
nigh important thing to note is that since the interest mandates generation of wealth without any productive activity, IT HAS BEEN PROVED TO BE THE PRIME originator FOR INFLATAION
Moral: Acceptance of Usury discourages people from doing good to one another and lend out of good go forth.
A society which encourages interest on lending will require impoverished people to pay back more than he borrowed, which sort of often is a source of huge burden.
Social: If interest is allowed, the rich (who are most likely to be lender) will exploit the shortsighted (borrower). As a result, the rich becomes richer and the poor becomes poorer. This generates envy and hatred among the poor toward the rich, resulting in social disorders, conflicts and at times breeds revolutions & movements.
Between 2001 and 2006, over 14000 farmers have committed self-destruction in various regions including Vidarbha and Telangana India. In almost each of these self-destruction cases the only recurring reason is debt-trap.
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