The Definition of Riba and Its Types
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Question:
This brother, the questioner, says: Riba is of great danger. So what is riba? And what is also riba al-nasi'ah (usury of deferment)? How does it occur? May Allah bless you.
Answer:
Riba. Its danger is great because Allah has threatened those who commit it, because Allah has forbidden it with the strongest prohibition and threatened those who commit it with the strongest warning. The Messenger of Allah (peace and blessings be upon him) cursed the one who eats riba, the one who gives it, the one who writes it, and its two witnesses. So he cursed the one who eats riba and the one who cooperates with him in that. It is among the greatest of major sins after shirk (associating partners with Allah) (Mighty and Majestic). The riba intended here is riba in the matter of increase: the increase in ribawi (interest-bearing) currencies, such as selling dirhams for dirhams of the same type with an increase, or selling wheat for wheat with an increase, or barley for barley with an increase, or dates for dates with an increase, or dirhams or... or... raisins or raisins for raisins with an increase in one of the two exchanges.
In these matters—gold, silver, dates, barley, and dried grapes, even fresh grapes—it is not permissible to have an increase in these matters. And whatever shares the operative cause ('illah) of these types takes their ruling, and an increase is not permissible when a type is sold for its own type. This is riba al-fadl (usury of excess in a like-for-like exchange), which they call it, and it is the increase. Riba al-nasi'ah (usury of deferment) is when one sells one of these types for its own type with a deferred payment, or sells it for a different type with a deferred payment, such as selling wheat for dates with a deferred payment, or selling gold for silver with a deferred payment. This is riba al-nasi'ah from the "nas" (deferment), which is the postponement, and it is the riba of the pre-Islamic age of ignorance (jahiliyyah). So neither riba al-fadl nor riba al-nasi'ah is permissible in them. Yes.
The presenter:
May Allah reward you,
This brother, the questioner, says: Riba is of great danger. So what is riba? And what is also riba al-nasi'ah (usury of deferment)? How does it occur? May Allah bless you.
Answer:
Riba. Its danger is great because Allah has threatened those who commit it, because Allah has forbidden it with the strongest prohibition and threatened those who commit it with the strongest warning. The Messenger of Allah (peace and blessings be upon him) cursed the one who eats riba, the one who gives it, the one who writes it, and its two witnesses. So he cursed the one who eats riba and the one who cooperates with him in that. It is among the greatest of major sins after shirk (associating partners with Allah) (Mighty and Majestic). The riba intended here is riba in the matter of increase: the increase in ribawi (interest-bearing) currencies, such as selling dirhams for dirhams of the same type with an increase, or selling wheat for wheat with an increase, or barley for barley with an increase, or dates for dates with an increase, or dirhams or... or... raisins or raisins for raisins with an increase in one of the two exchanges.
In these matters—gold, silver, dates, barley, and dried grapes, even fresh grapes—it is not permissible to have an increase in these matters. And whatever shares the operative cause ('illah) of these types takes their ruling, and an increase is not permissible when a type is sold for its own type. This is riba al-fadl (usury of excess in a like-for-like exchange), which they call it, and it is the increase. Riba al-nasi'ah (usury of deferment) is when one sells one of these types for its own type with a deferred payment, or sells it for a different type with a deferred payment, such as selling wheat for dates with a deferred payment, or selling gold for silver with a deferred payment. This is riba al-nasi'ah from the "nas" (deferment), which is the postponement, and it is the riba of the pre-Islamic age of ignorance (jahiliyyah). So neither riba al-fadl nor riba al-nasi'ah is permissible in them. Yes.
The presenter:
May Allah reward you,
Source
نور على الدرب - الفوزان - 03/267 — archive.org (2:15)
The Arabic text is a machine transcription of the audio recording.