Usury -- Question/Answer Board

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Subject:

Usury

Author:
Brother_N_Sunnat_UK

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Date Posted: 06:54:52 02/04/03 Tue
Author Host/IP: dy35-9.coventry.ac.uk/194.66.55.9

assalaamu alaykum
please explain to me the usury issue. i have a business and i charge my customers according to what is used and a little over to cover my expenses and care of my children (i am currently without a husband). but i am concerned about exactly what usury is and if i am violating the law.
thank u so much. jazakallah may allah bless ur efforts

sincerely,
ur sis kareeemah

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Replies:

[> Subject: Re: Usury

Author:
Laila Nasheeba
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Date Posted: 08:11:49 02/04/03 Tue
Author Host/IP: dhcp024-210-177-110.woh.rr.com/24.210.177.110

As Salaamu Alaikoum,

Usury involves interest. As long as you are not charging interest in your business then you are not indulging in usuery. Interest is A charge for a loan, usually a percentage of the amount loaned, or an excess or bonus beyond what is expected or due.

If you dont understand the concept of interest contact your local bank and they will gladly explain it to you.

AND ALLAH KNOWS BEST

Laila Nasheeba