Muslims are prohibited from taking interest loans – MURIC tells Tinubu

Muslims are prohibited from taking interest loans – MURIC tells Tinubu

An Islamic human rights organization, Muslim Rights Concern, MURIC, has solicited for interest-free loans for Nigerian Muslims, as against interest loans offered by President Bola Tinubu during his address to Nigerians.

But the MURIC Executive Director, Prof. Ishaq Akintola, in a statement on Wednesday, explained that it is forbidden for Muslims to receive or give interest on loans.

He said: “We appreciate the concern of President Bola Ahmed Tinubu for Nigerians particular in these difficult times.

“The offer of loans to cushion the effect of the withdrawal of oil subsidy shows that the president cares about the citizenry.”

According to him, Nigerian Muslims cannot take interest loans, saying that it is capable of constituting a wedge between Nigerian Muslims and their Creator, Almighty Allah.

“We prefer the everlasting peace of al-akhirah (the Hereafter) to the material gains of this world,” Mr Akintola insisted.

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The pro-Muslim organization added that Nigerian Muslims could not and would not take interest loans, describing the latter as capable of constituting a wedge between Nigerian Muslims and their Creator.

“Interest is haram and Allah explicitly forbids it when He said, “Oh you who believe, fear Allah and give up that interest which is still due to you, if you are true believers.

“But if you do not desist, then you are warned of the declaration of war against you by Allah and His Messenger….” (Glorious Qur’an 2:278 – 279).

“The interest loan being offered by President Tinubu cannot benefit Muslims in Nigeria. We therefore suggest that the Federal Government should arrange soft loans for the Muslim population in particular and any other citizens who may desire it,” the statement noted.

Mr Akintola advised the Federal Government to prepare alternatives for Nigerian Muslims in the interest of fairness, equity and justice.

“This is why FG needs to prepare alternatives for Muslims who are more than 130 million in the country in the name of fairness, equity and justice.

“We reiterate that interest loan is haram and Muslims will not touch it with a long pole. FG should therefore expedite action on introducing Islam-compliant palliatives such that it is made available for Muslims at the same time that interest loans are accessible to others because hunger is spreading fast among the populace as prices sky-rocket daily.”

Muslims are prohibited from taking interest loans – MURIC tells Tinubu