Sudah lama kita menggunakan kad kredit namun pelbagai caj yang dikenakan tidak kita sedari atau sengaja kita menutup mata kerana sudah terjebak dengan "Along Berlesen" ni, mahu atau tidak terima sahajalah. Namun bagi yang baru berjinak-jinak dengan kad kredit ini moga dapat berhati-hati dan dan mengambil langkah yang boleh menyelamatkan masa depannya dari terjebak lebih mendalam dan merugikannya.
Mengimbas tulisan Utz. Zaharuddin (Pensyarah Perbankan dan Kewangan Islam UIAM), yang menamakan kad kredit itu sebagai ‘kad nafsu’ berikutan ciri di dalamnya langsung tidak menepati kehendak Islam, di mana ia menggalakkan orang ramai berbelanja lebih daripada kemampuan untuk membayar.
Di segi amalannya, ia tidak mempunyai unsur positif kepada pengguna berikutan ia hanya bersifat pengganti dan seseorang itu tidak lagi perlu membawa duit tunai yang banyak.
Namun, ia sebenarnya memerangkap seseorang itu untuk berhutang dan langsung tiada ciri yang menawarkan seseorang itu untuk berbelanja secara berhemah.
Jadi kali ini saya ingin menjelaskan serba sedikit beberapa ciri kad kredit berdasarkan konsep pengiraan yang perlu dibayar seseorang, caj tersembunyi yang dikenakan selain sistem amalan riba yang dipraktikkan.
Caj yang disebut jelas
Apabila seseorang itu menggunakan kad kredit, dia sebenarnya membayar secara purata 17.5 peratus setiap tahun atau 1.46 peratus setiap bulan, lebih daripada pembelian secara tunai.
Caj 1.46 peratus ini adalah kadar bunga atau faedah yang dikenakan apabila seseorang itu gagal membuat pembayaran penuh dalam tempoh ditetapkan iaitu 20 hari selepas dia menggunakan kad kredit dan ia akan dikira pada setiap bulan berikutnya selagi hutangnya tidak dijelaskan.
Sebagai contoh kiraan mudah faham, jika seseorang itu berbelanja menggunakan kad kredit RM10,000 (nilai pokok pinjaman) pada Januari, dia perlu membayar semula jumlah terbabit ditambah 1.46 peratus setiap bulan iaitu RM146.
Secara dasarnya, ia memang kelihatan kecil, namun jika diteliti dan difahami, jumlah itu sebenarnya bersifat campuran dan akan dimasukkan ke dalam jumlah pokok.
Jika seseorang itu tidak membayar jumlah minimum wajib lima peratus setiap bulan itu, kesannya jumlah itu meningkat daripada RM10,000 kepada RM10,146.
Seterusnya, jika seseorang itu masih lagi gagal melunaskan hutang itu, pada bulan berikutnya caj sama iaitu sebanyak 1.46 peratus dikenakan lagi, namun bukan berdasarkan hutang awal sebanyak RM10,000, sebaliknya baki terkini iaitu RM10,146.
Jelas di sini, pada bulan ketiga hutang itu meningkat kepada RM10,294.13 dan ia akan sentiasa meningkat setiap bulan hinggalah semua tunggakan dijelaskan.
Berdasarkan pengiraan digunakan ini, kira-kira 30 peratus pemilik kad kredit jatuh muflis berikutan gagal melunaskan hutang kad kredit digunakan.
Statistik Bank Negara Malaysia (BNM) turut menunjukkan jumlah hutang menerusi kad kredit meningkat pada kadar 20 peratus setiap tahun.
Penggunaan kad kredit sememangnya memberi keuntungan kepada institusi perbankan di negara ini, di mana mereka memperoleh kadar faedah 1.5 peratus setiap bulan dengan keuntungan berjumlah RM159 juta setiap tahun tetapi tidak kepada pengguna.
Jumlah ini tidak termasuk pelbagai caj perkhidmatan lain yang dikenakan, seperti caj tunai lima peratus dan penalti atau caj kepada pemilik kad yang lambat membayar hutang, RM5.
Di negara luar seperti Amerika Syarikat, kadar berkenaan boleh meningkat kepada 40 peratus tetapi di negara kita, kadar ini ditetapkan BNM sehingga 17.5 peratus sahaja.
Daripada aspek pengiraan ini, penggunaan kad kredit sebenarnya amat merugikan manakala daripada sudut Islam pula, sistem digunakan itu jelas menunjukkan amalan riba, yakni ia satu dosa.
Jika dilihat daripada sudut manfaatnya, ia langsung tiada kerana jika pemegang kad itu dapat membuat pembayaran penuh sekali pun dalam tempoh 20 hari, tiada apa-apa faedah diperoleh.
Malah, bagi yang gagal membuat pembayaran penuh sebelum tamat tempoh 20 hari itu, mereka tidak akan terselamat daripada caj berkenaan
Caj tersembunyi
Selain caj utama yang dinyatakan sebelum ini, sebenarnya wujud pelbagai lagi caj dikenakan oleh pengeluar kad kredit kepada pemegang kad terbabit.
Caj ini termasuk caj kelewatan pembayaran satu peratus atau berdasarkan kiraan RM10,000, menjadi RM100.
Yuran tahunan juga dikenakan kepada pemilik kad, namun segelintir pengeluar kad menyerap kos itu bagi menjadikan kad dikeluarkan kelihatan lebih menarik untuk dimiliki
Caj terhadap urusan pembelian barangan di luar negara, sama ada pengguna menggunakan kad kredit ketika membeli-belah di luar negara atau membeli barangan dari luar negara menggunakan Internet. Beberapa bank di negara ini mengenakan caj berkenaan 1.25 peratus daripada harga belian yang dibuat.
Caj lima peratus apabila membuat belian lebih daripada had kredit dibenarkan (over limit fees).
Caj pengeluaran tunai (cash advance fee). Segelintir bank mengenakan caj ini kepada pemegang kad mereka iaitu 18 peratus daripada jumlah wang tunai dikeluarkan.
Demikian sifat sekeping kad kredit yang sering menjadi kebanggaan pemilik untuk menunjukkan kemewahan diri tetapi hakikatnya, ia sebenarnya adalah kad hutang yang menunjukkan potensi diri pemiliknya untuk jatuh muflis.
Ia juga membuktikan pemiliknya tidak bijak berfikir dalam berbelanja kerana membayar lebih berbanding belian secara tunai, suka berhutang dan berbelanja mengikut nafsu tanpa memikirkan jumlah kemampuan pendapatan mereka.
Kad kredit memberi kemudahan kerana mudah dibawa, namun kerana inginkan kemudahan dan ‘kesenangan’ itu, pemiliknya terjebak dengan perangkap pengiraan hutangnya dan akhirnya membuatkan diri mereka pening kepala mengenai hutang yang ditanggung.
Justeru, sebaik-baiknya sebagai umat Islam, masyarakat perlu menghentikan amalan penggunaannya berikutan ia tidak mempunyai kebaikan dan jika benar-benar ingin menggunakan kad sebagai pengganti wang tunai, kad debit berlandaskan hukum Islam adalah sebaik-baiknya.
Hapuskan kad kredit anda, khususnya apabila ia sekeping kad kredit dari bank konvensional kerana ia adalah riba, menurut fatwa Majlis Fiqh Antarabangsa.
Walaupun hutang diselesaikan sepenuhnya dalam tempoh 20 hari yang diberi, riba tetap mengenai pengguna. Ia kerana setiap penggunaan menyebabkan peniaga perlu membayar komisen satu hingga tiga peratus kepada pengeluar kad.
Penggunaannya sama seperti kita membantu dan menyokong secara langsung kepada industri kad kredit yang berteraskan riba dan hukumnya adalah sama.
Saturday, September 18, 2010
Sunday, August 22, 2010
Wednesday, August 18, 2010
Jemputan Ceramah Bahana Riba
Semoga Allah taala membuka hati-hati mereka yang mengikuti program ini dan menyelamatkan mereka dari dosa Riba dan Syubhat dengan Riba, Amin.
Wednesday, July 14, 2010
Tafsiran Islam online mengenai "Interest" mengelirukan
"Tafsiran Islam On Line mengenai mereka yang membayar pinjaman interest. Jelas sekali tafsiran dibuat ikut suka hati dan tidak berlandaskan kepada keputusan ijma' ulama mengenai syubhat dengan interest/riba. ini amat merbahaya kerana memberi maklumat yang tidak tepat.Makulmat yang mengelirukan dari web site kepunyaan Al Jazeera Dubai.
The word "interest" refers to the fixed increase demanded over and above a sum of loan. At first sight, there does not seem to be any difference between it and rent. However, a deep deliberation reveals the stark difference between the two: rented out items can be used while keeping them intact; however, money cannot be used in this way; it is in fact used up and after expending it, it is needed to be produced again. Therefore, if something in addition is demanded over it, this in fact becomes an oppression. Since this difference between interest and rent is subtle, and human intellect can falter in understanding this difference, the Almighty has delineated the truth in this matter: In the sharī'ah he has given mankind through his prophets, He has informed them that demanding a fixed increase over the lent amount is unjust and hence not allowed. It is for this very reason that interest has remained prohibited at all times and in all the sharī'ahs revealed by the Almighty. The Qur'ān has explicitly forbidden it. There is no difference of opinion in this matter.
However, the religious legality of the system of banking which prevails in our societies has recently come under discussion. It is contended that since the bank only receives a portion from the profit of a commercial venture it had financed on the basis of a loan hence the very reason for which interest was regarded as prohibited does not exist in the banking system. This view has been put forth by some scholars of Egypt and Syria. Mawlānā Wahīd al-Dīn Khān (b. 1926 AD), a celebrated scholar and preacher from India too, has corroborated it to some extent in his book Fikr Islāmī. In my opinion, this view of the scholars can be considered intellectually convincing; however, it is essential for this that the following remedial measures be introduced in the banking system.
Firstly, if a commercial venture financed by a bank loan runs into losses or needs to be discontinued for some reason, the demand for profit by the bank should cease that very day. It should only demand the principal amount.
Secondly, if things are being sold on installments, then until these installments are complete, the bank should remain a partner in the ownership of the sold item, fulfill the rights of ownership and receive rent on it.
Thirdly, in a loan given for non-commercial purposes except for inflationary adjustments, no interest should be demanded on it.
An important issue relates to paying interest on loans acquired for personal and commercial needs. In other words, there are people who do not devour interest but are forced to pay it on such loans. It is generally thought that paying interest too is prohibited in the same manner as consuming interest is. Our scholars also hold this view. In reality, there is no basis of this opinion in the Qur'ān and Hadīth.
Not at one place has the Qur'ān condemned people who pay interest; it has, in fact, regarded them to be the oppressed; it has also urged the lenders to give respite to such borrowers if they are facing some financial constraint. No doubt, in a narrative, those who make others devour interest are also regarded to be equal criminals;1 however, people have failed to understand the real meaning of this narrative. It refers to people who are the agents of professional lenders and in this capacity hunt for potential customers for their masters. As such, they are guilty of co-operating with them in this sin. In other words, this narrative does not relate to people who borrow on interest.
The word "interest" refers to the fixed increase demanded over and above a sum of loan. At first sight, there does not seem to be any difference between it and rent. However, a deep deliberation reveals the stark difference between the two: rented out items can be used while keeping them intact; however, money cannot be used in this way; it is in fact used up and after expending it, it is needed to be produced again. Therefore, if something in addition is demanded over it, this in fact becomes an oppression. Since this difference between interest and rent is subtle, and human intellect can falter in understanding this difference, the Almighty has delineated the truth in this matter: In the sharī'ah he has given mankind through his prophets, He has informed them that demanding a fixed increase over the lent amount is unjust and hence not allowed. It is for this very reason that interest has remained prohibited at all times and in all the sharī'ahs revealed by the Almighty. The Qur'ān has explicitly forbidden it. There is no difference of opinion in this matter.
However, the religious legality of the system of banking which prevails in our societies has recently come under discussion. It is contended that since the bank only receives a portion from the profit of a commercial venture it had financed on the basis of a loan hence the very reason for which interest was regarded as prohibited does not exist in the banking system. This view has been put forth by some scholars of Egypt and Syria. Mawlānā Wahīd al-Dīn Khān (b. 1926 AD), a celebrated scholar and preacher from India too, has corroborated it to some extent in his book Fikr Islāmī. In my opinion, this view of the scholars can be considered intellectually convincing; however, it is essential for this that the following remedial measures be introduced in the banking system.
Firstly, if a commercial venture financed by a bank loan runs into losses or needs to be discontinued for some reason, the demand for profit by the bank should cease that very day. It should only demand the principal amount.
Secondly, if things are being sold on installments, then until these installments are complete, the bank should remain a partner in the ownership of the sold item, fulfill the rights of ownership and receive rent on it.
Thirdly, in a loan given for non-commercial purposes except for inflationary adjustments, no interest should be demanded on it.
An important issue relates to paying interest on loans acquired for personal and commercial needs. In other words, there are people who do not devour interest but are forced to pay it on such loans. It is generally thought that paying interest too is prohibited in the same manner as consuming interest is. Our scholars also hold this view. In reality, there is no basis of this opinion in the Qur'ān and Hadīth.
Not at one place has the Qur'ān condemned people who pay interest; it has, in fact, regarded them to be the oppressed; it has also urged the lenders to give respite to such borrowers if they are facing some financial constraint. No doubt, in a narrative, those who make others devour interest are also regarded to be equal criminals;1 however, people have failed to understand the real meaning of this narrative. It refers to people who are the agents of professional lenders and in this capacity hunt for potential customers for their masters. As such, they are guilty of co-operating with them in this sin. In other words, this narrative does not relate to people who borrow on interest.
Tuesday, July 13, 2010
Pengharaman Riba Melalui Sunnah As-Syarifah
Hadis Pengharaman Riba ini banyak terdapat di dalam kitab-kitab hadis, kita sekadar menyebut yang utama darinya sahaja :
1 ) Diriwayatkan oleh Al-Bukhari dan Muslim dari hadits Abu Hurairah bahwa Nabi Shallallahu ‘alahi wa sallam bersabda:
اجْتَنِبُوا السَّبْعَ الْمُوبِقَاتِ قَالُوا يَا رَسُولَ اللَّهِ وَمَا هُنَّ قَالَ الشِّرْكُ بِاللَّهِ وَالسِّحْرُ وَقَتْلُ النَّفْسِ الَّتِي حَرَّمَ اللَّهُ إِلَّا بِالْحَقِّ وَأَكْلُ الرِّبَا وَأَكْلُ مَالِ الْيَتِيمِ وَالتَّوَلِّي يَوْمَ الزَّحْفِ وَقَذْفُ الْمُحْصَنَاتِ الْمُؤْمِنَاتِ الْغَافِلَاتِ
"Hindarilah tujuh hal yang membinasakan." Ada yang bertanya: "Apakah tujuh hal itu wahai Rasulullah?" Beliau menjawab: "Menyekutukan Allah, sihir, membunuh jiwa dengan cara yang haram, memakan riba, memakan harta anak yatim, kabur dari medan perang, menuduh berzina wanita suci yang sudah menikah karena kelengahan mereka. "
2 ) Diriwayatkan oleh imam Muslim dari Jabir bin Abdillah radhiyallahu ‘anhu bahwa ia menceritakan:
لَعَنَ رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ آكِلَ الرِّبَا وَمُؤْكِلَهُ وَكَاتِبَهُ وَشَاهِدَيْهِ وَقَالَ هُمْ سَوَاءٌ
"Rasulullah melaknat pemakan riba, orang yang memberi makan dengan riba, juru tulis transaksi riba, dua orang saksinya, semuanya sama saja."
3 ) Diriwayatkan oleh imam Al-Bukhari dari Samurah bin Jundub radhiyallahu ‘anhu bahwa ia menceritakan: Rasulullah Shallallahu ‘alahi wa sallam bersabda:
{ رَأَيْتُ اللَّيْلَةَ رَجُلَيْنِ أَتَيَانِي فَأَخْرَجَانِي إِلَى أَرْضٍ مُقَدَّسَةٍ فَانْطَلَقْنَا حَتَّى أَتَيْنَا عَلَى نَهَرٍ مِنْ دَمٍ فِيهِ رَجُلٌ قَائِمٌ وَعَلَى وَسَطِ النَّهَرِ رَجُلٌ بَيْنَ يَدَيْهِ حِجَارَةٌ فَأَقْبَلَ الرَّجُلُ الَّذِي فِي النَّهَرِ فَإِذَا أَرَادَ الرَّجُلُ أَنْ يَخْرُجَ رَمَى الرَّجُلُ بِحَجَرٍ فِي فِيهِ فَرَدَّهُ حَيْثُ كَانَ فَجَعَلَ كُلَّمَا جَاءَ لِيَخْرُجَ رَمَى فِي فِيهِ بِحَجَرٍ فَيَرْجِعُ كَمَا كَانَ فَقُلْتُ مَا هَذَا فَقَالَ الَّذِي رَأَيْتَهُ فِي النَّهَرِ آكِلُ الرِّبَا }
"Tadi malam aku melihat dua orang lelaki, lalu keduanya mengajakku pergi ke sebuah tanah yang disucikan. Kamipun berangkat sehingga sampai ke satu sungai yang berair darah. Di situ terdapat seorang lelaki sedang berdiri. Di tengah sungai terdapat seorang lelaki lain yang menaruh batu di hadapannya. Ia menghadap ke arah lelaki yang ada di sungai. Kalau lelaki di sungai itu mau keluar, ia melemparnya dengan batu sehingga terpaksa lelaki itu kembali ke dalam sungai darah. Demikianlah seterusnya setiap kali lelaki itu hendak keluar, lelaki yang di pinggir sungai melempar batu ke mulutnya sehingga ia terpaksa kembali lagi seperti semula. Aku bertanya: "Apa ini?" Salah seorang lelaki yang bersamaku menjawab: "Yang engkau lihat dalam sungai darah itu adalah pemakan riba."
1 ) Diriwayatkan oleh Al-Bukhari dan Muslim dari hadits Abu Hurairah bahwa Nabi Shallallahu ‘alahi wa sallam bersabda:
اجْتَنِبُوا السَّبْعَ الْمُوبِقَاتِ قَالُوا يَا رَسُولَ اللَّهِ وَمَا هُنَّ قَالَ الشِّرْكُ بِاللَّهِ وَالسِّحْرُ وَقَتْلُ النَّفْسِ الَّتِي حَرَّمَ اللَّهُ إِلَّا بِالْحَقِّ وَأَكْلُ الرِّبَا وَأَكْلُ مَالِ الْيَتِيمِ وَالتَّوَلِّي يَوْمَ الزَّحْفِ وَقَذْفُ الْمُحْصَنَاتِ الْمُؤْمِنَاتِ الْغَافِلَاتِ
"Hindarilah tujuh hal yang membinasakan." Ada yang bertanya: "Apakah tujuh hal itu wahai Rasulullah?" Beliau menjawab: "Menyekutukan Allah, sihir, membunuh jiwa dengan cara yang haram, memakan riba, memakan harta anak yatim, kabur dari medan perang, menuduh berzina wanita suci yang sudah menikah karena kelengahan mereka. "
2 ) Diriwayatkan oleh imam Muslim dari Jabir bin Abdillah radhiyallahu ‘anhu bahwa ia menceritakan:
لَعَنَ رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ آكِلَ الرِّبَا وَمُؤْكِلَهُ وَكَاتِبَهُ وَشَاهِدَيْهِ وَقَالَ هُمْ سَوَاءٌ
"Rasulullah melaknat pemakan riba, orang yang memberi makan dengan riba, juru tulis transaksi riba, dua orang saksinya, semuanya sama saja."
3 ) Diriwayatkan oleh imam Al-Bukhari dari Samurah bin Jundub radhiyallahu ‘anhu bahwa ia menceritakan: Rasulullah Shallallahu ‘alahi wa sallam bersabda:
{ رَأَيْتُ اللَّيْلَةَ رَجُلَيْنِ أَتَيَانِي فَأَخْرَجَانِي إِلَى أَرْضٍ مُقَدَّسَةٍ فَانْطَلَقْنَا حَتَّى أَتَيْنَا عَلَى نَهَرٍ مِنْ دَمٍ فِيهِ رَجُلٌ قَائِمٌ وَعَلَى وَسَطِ النَّهَرِ رَجُلٌ بَيْنَ يَدَيْهِ حِجَارَةٌ فَأَقْبَلَ الرَّجُلُ الَّذِي فِي النَّهَرِ فَإِذَا أَرَادَ الرَّجُلُ أَنْ يَخْرُجَ رَمَى الرَّجُلُ بِحَجَرٍ فِي فِيهِ فَرَدَّهُ حَيْثُ كَانَ فَجَعَلَ كُلَّمَا جَاءَ لِيَخْرُجَ رَمَى فِي فِيهِ بِحَجَرٍ فَيَرْجِعُ كَمَا كَانَ فَقُلْتُ مَا هَذَا فَقَالَ الَّذِي رَأَيْتَهُ فِي النَّهَرِ آكِلُ الرِّبَا }
"Tadi malam aku melihat dua orang lelaki, lalu keduanya mengajakku pergi ke sebuah tanah yang disucikan. Kamipun berangkat sehingga sampai ke satu sungai yang berair darah. Di situ terdapat seorang lelaki sedang berdiri. Di tengah sungai terdapat seorang lelaki lain yang menaruh batu di hadapannya. Ia menghadap ke arah lelaki yang ada di sungai. Kalau lelaki di sungai itu mau keluar, ia melemparnya dengan batu sehingga terpaksa lelaki itu kembali ke dalam sungai darah. Demikianlah seterusnya setiap kali lelaki itu hendak keluar, lelaki yang di pinggir sungai melempar batu ke mulutnya sehingga ia terpaksa kembali lagi seperti semula. Aku bertanya: "Apa ini?" Salah seorang lelaki yang bersamaku menjawab: "Yang engkau lihat dalam sungai darah itu adalah pemakan riba."
Hukum Riba :
Haram dalam semua Syariat sebelum Islam, dan diharamkan dalam Islam melalui Al-Quran, Sunnah dan Ijmak Ulama.
Pengharamannya secara am di dalam Islam pada tahun ke 8 atau 9 Hijriah, tetapi keburukannya telahpun disebut Al-Quran (merujuk ayat 39 Surah Ar-Rum) ketika Nabi saw masih di Mekah.
Proses pengharaman riba disyariatkan secara berperingkat sebanyak 4 kali melalui penurunan Ayat Al-Quran sepertimana pengharaman Arak yang disyariatkan secara berperingkat.
Pengharamannya Melalui Al-Quran :
Baqarah : 275
Baqarah : 276
Baqarah 278
Wahai orang-orang yang beriman! Bertaqwalah kamu kepada Allah dan tinggalkanlah (jangan menuntut lagi) saki baki riba (yang masih ada pada orang yang berhutang) itu, jika benar kamu orang- orang yang beriman.
Baqarah 279
Oleh itu, kalau kamu tidak juga melakukan (perintah mengenai larangan riba itu), maka ketahuilah kamu: akan adanya peperangan dari Allah dan RasulNya, (akibatnya kamu tidak menemui selamat). Dan jika kamu bertaubat, maka hak kamu (yang sebenarnya) ialah pokok asal harta kamu. (Dengan yang demikian) kamu tidak berlaku zalim kepada sesiapa, dan kamu juga tidak dizalimi oleh sesiapa.
Pengharamannya secara am di dalam Islam pada tahun ke 8 atau 9 Hijriah, tetapi keburukannya telahpun disebut Al-Quran (merujuk ayat 39 Surah Ar-Rum) ketika Nabi saw masih di Mekah.
Proses pengharaman riba disyariatkan secara berperingkat sebanyak 4 kali melalui penurunan Ayat Al-Quran sepertimana pengharaman Arak yang disyariatkan secara berperingkat.
Pengharamannya Melalui Al-Quran :
Baqarah : 275
Baqarah : 276
Baqarah 278
Wahai orang-orang yang beriman! Bertaqwalah kamu kepada Allah dan tinggalkanlah (jangan menuntut lagi) saki baki riba (yang masih ada pada orang yang berhutang) itu, jika benar kamu orang- orang yang beriman.
Baqarah 279
Oleh itu, kalau kamu tidak juga melakukan (perintah mengenai larangan riba itu), maka ketahuilah kamu: akan adanya peperangan dari Allah dan RasulNya, (akibatnya kamu tidak menemui selamat). Dan jika kamu bertaubat, maka hak kamu (yang sebenarnya) ialah pokok asal harta kamu. (Dengan yang demikian) kamu tidak berlaku zalim kepada sesiapa, dan kamu juga tidak dizalimi oleh sesiapa.
Friday, July 9, 2010
Discounting
It has been clearly mentioned in Quranic verses and Hadiths that Riba relates to the increase, and surely that is the truth because only increase can create artificial scarcity of the produce in the society, while if we see the discounting, it does not depict any artificial behavior rather more precisely it has a basic sharing behavior.
The prevailing misunderstanding in the concept of Riba (Interest) that relates it with time as stated by many economists and scholars, has created unrealistic confusion between banking Interest and discounting, most people think that both are same things but actually they are not. The reason of this confusion comes from the practice of applying time-based rate in both cases. Riba is independent of time, it can exist in a hand-to-hand exchange in zero time frame to any large time frame incase of loans, but it is surely an increase not the decrease.
It is a well thought and thoroughly researched conclusion that discounting of financial instruments/bills does not come under the prohibition of Riba. The discounting mechanism inherits a strong characteristic of keeping the circulation of money natural and is an alternative driving force for economic activity for banks and thus for capital.
Discounting is opposite of a Loan transaction (rather one may call it a negative of interest/riba mechanism), the following comparison may be helpful to emphasize on this difference :
Loan Transaction Discounting Transaction
When : Capital is in-hand
When : Capital is not in-hand
Scenario : I give you an amount of 100, after one year, I receive 110
Scenario : I give you a Bill of 100, I receive 90 on spot, after one year, you receive 100
Analogy : I sold 100 for 110
Analogy : I sold 100 for 90
An increase of 10 is noticed
A decrease of 10 is noticed
This increase of 10 is an extra liability created on the borrower
This decrease of 10 is basically sharing of what is available
Nature : A loan is required when the wealth has to be created.
Nature : Discounting is required after the wealth is created.
Activity is dependent on loan
Activity is already done.
beside above tabulated differences, there are other differences in nature of these two types of transactions, but the below are two basic differences further explained as :
The increase of 10 in loan is artificial and does not exist in the transaction cycle as part of the principal transacted amount rather is an extra created liability on the part of the borrower, while -10 in discounting is a sharing part of the transacted amount.
Please refer to the page Why Riba was prohibited...? - the subject of artificial increase is discussed there in detail. Additionally, to emphasize on this difference, we must keep in mind the concept of equity which is the base of specific modes of Islamic financing, where labour, capital, knowledge, capability, need, availability etc. have respective values and any combination / agreement is allowed to share these assets between the players of wealth creation activity.
I give 100 and receive 110 in loan, while I give 100 and receive 90 in discounting. (The analogy to this is - I sold my 100 for 110 in loan and my 100 for 90 in discounting) Obviously both can not be same. Some people may ask that who gave me 90 on spot would actually get 100 after one year and that is an increase in his money. This is a very common misconception that is noticed and therefore must be replied accurately. Please review :
The capital is not rejected in Islam or in nature, the role of capital is guided with the prohibition of riba and some other ethical and social limitations, otherwise there would be no meaning to Islamic modes of financing. The benefits of capital can not be rejected out rightly, but definitely all those benefits must be permitted which are lawful.
It must be noted here, I am giving him 100 for discounting and not that way as he is giving me 90 as loan. These are two completely different situations.
Although already mentioned above but to emphasize again it is repeated here that only the similarity of time based rate as practiced these days in loan and discounting transactions can not become the reason for equating the loan and discounting transactions and classifying both as riba transaction, whereas these are two completely different types as tabulated above.
In short, discounting by any means does not have the must elements of riba as discussed and defined here earlier, it is a real and much powerful mechanism that can be explored as the lawful driving force for the capital in the Islamic banking industry.
The prevailing misunderstanding in the concept of Riba (Interest) that relates it with time as stated by many economists and scholars, has created unrealistic confusion between banking Interest and discounting, most people think that both are same things but actually they are not. The reason of this confusion comes from the practice of applying time-based rate in both cases. Riba is independent of time, it can exist in a hand-to-hand exchange in zero time frame to any large time frame incase of loans, but it is surely an increase not the decrease.
It is a well thought and thoroughly researched conclusion that discounting of financial instruments/bills does not come under the prohibition of Riba. The discounting mechanism inherits a strong characteristic of keeping the circulation of money natural and is an alternative driving force for economic activity for banks and thus for capital.
Discounting is opposite of a Loan transaction (rather one may call it a negative of interest/riba mechanism), the following comparison may be helpful to emphasize on this difference :
Loan Transaction Discounting Transaction
When : Capital is in-hand
When : Capital is not in-hand
Scenario : I give you an amount of 100, after one year, I receive 110
Scenario : I give you a Bill of 100, I receive 90 on spot, after one year, you receive 100
Analogy : I sold 100 for 110
Analogy : I sold 100 for 90
An increase of 10 is noticed
A decrease of 10 is noticed
This increase of 10 is an extra liability created on the borrower
This decrease of 10 is basically sharing of what is available
Nature : A loan is required when the wealth has to be created.
Nature : Discounting is required after the wealth is created.
Activity is dependent on loan
Activity is already done.
beside above tabulated differences, there are other differences in nature of these two types of transactions, but the below are two basic differences further explained as :
The increase of 10 in loan is artificial and does not exist in the transaction cycle as part of the principal transacted amount rather is an extra created liability on the part of the borrower, while -10 in discounting is a sharing part of the transacted amount.
Please refer to the page Why Riba was prohibited...? - the subject of artificial increase is discussed there in detail. Additionally, to emphasize on this difference, we must keep in mind the concept of equity which is the base of specific modes of Islamic financing, where labour, capital, knowledge, capability, need, availability etc. have respective values and any combination / agreement is allowed to share these assets between the players of wealth creation activity.
I give 100 and receive 110 in loan, while I give 100 and receive 90 in discounting. (The analogy to this is - I sold my 100 for 110 in loan and my 100 for 90 in discounting) Obviously both can not be same. Some people may ask that who gave me 90 on spot would actually get 100 after one year and that is an increase in his money. This is a very common misconception that is noticed and therefore must be replied accurately. Please review :
The capital is not rejected in Islam or in nature, the role of capital is guided with the prohibition of riba and some other ethical and social limitations, otherwise there would be no meaning to Islamic modes of financing. The benefits of capital can not be rejected out rightly, but definitely all those benefits must be permitted which are lawful.
It must be noted here, I am giving him 100 for discounting and not that way as he is giving me 90 as loan. These are two completely different situations.
Although already mentioned above but to emphasize again it is repeated here that only the similarity of time based rate as practiced these days in loan and discounting transactions can not become the reason for equating the loan and discounting transactions and classifying both as riba transaction, whereas these are two completely different types as tabulated above.
In short, discounting by any means does not have the must elements of riba as discussed and defined here earlier, it is a real and much powerful mechanism that can be explored as the lawful driving force for the capital in the Islamic banking industry.
Thursday, July 1, 2010
Riba Haram jelas dalam Quran
Surah Al-Baqarah : 275
Allah taala menghalalkan jual beli, dan mengharamkan Riba, barang siapa yang telah didatangi peringatan dari tuhannya hendaklah dia berhenti dari terlibat dengan Riba dan baginya apa yang lalu dan serahkan perkara itu pada Allah swt, Barang siapa kembali lagi kepada Riba, mereka ini adalah ahli neraka dan kekal di dalamnya.
Wednesday, June 30, 2010
Projek : Bahana Riba Penghakis Keberkatan
Isi Program : (1 jam pembentangan)
1. Intro Riba
2. Pengharaman Riba
3. Aplikasi terlibat dengan Riba
4. Siapa & Bagaiamana kita terlibat dengan Riba
5. Gambaran orang yang terlibat dengan Riba (karton)
6. Proses Hijrah (Riba to Halal) Sangat Mudah
1. Intro Riba
2. Pengharaman Riba
3. Aplikasi terlibat dengan Riba
4. Siapa & Bagaiamana kita terlibat dengan Riba
5. Gambaran orang yang terlibat dengan Riba (karton)
6. Proses Hijrah (Riba to Halal) Sangat Mudah
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