ISLAMIC PERSPECTIVE OF LOANS,THE (PB)

Introduction
There are two major forms of rights upon mankind aCCording to the Qur’an and hadith.
1. huququllah – the rights of Allah.
2. huququl-‘ibad the rights of people.
The summary of the teachings of the prophets (PBUH) is also that there be no deficiency in the rights of Allah and the rights of His slaves should not be destroyed. The people who observed both forms of rights were always suCCessful. Their society was pure and exemplary while those who trampled upon these rights were destroyed .
If any deficiency oCCurs in the rights of Allah (SWT), a person can hope to make amends by repenting, seeking forgiveness and doing good actions. Allah(SWT) will forgive such a person. For example, a person commits polytheism which is the worst of sins, then he repents, Allah will forgive him if he now believes in one deity. Salah, zakah, fasting, hajj, etc., are all the rights of Allah. It is man’s responsibility to fulfill all these rights. However, if a person is negligent in any of these rights, Allah may punish him if He so desires or He may forgive him.
HuqUqul-‘ibad are those rights which are directly connected to people. There are many types of such rights. If a person was negligent in any of these rights and usurped the right of someone he will be forgiven if the latter forgives him. But if he does not forgive him, the person will have to pay for it on the day of Qiyamah with his good deeds.
In this book, one of these rights in which people are generally involved has been clarified in the light of the Qur’an and Hadith. This is the issue of loans. A loan is taken when one is desperate and it is not an evil act to do so. However, to take a loan and not to pay it or to delay and procrastinate in paying the lender is a very evil character trait and a major sin.
Today, many borrowers neither remember to pay their debts nor bother about them. They don’t even have any concern about the matter. If a person reminds them, they regard it as something trivial whereas Rasulullah(PBUH) has severely wanted such people about the punishment of Allah.
This is such an important issue that not only a person’s life in the grave and the hereafter become miserable, Allah punishes such evil-minded people in this world as well and their lives become a misery. They will certainly have to face the severe consequences of their evil actions.
The Author Name(s) has excellently drawn the reader’s attention to this important issue by highlighting the rules of borrowing and paying back loans. If we administer our dealings in the light of these guidelines, Insha-Allah, there will never be problems.
May Allah grant all the Muslims the ability to practice these teachings. Amin.
Moulana Muhammad Bilal Mazahiri