মাসিক আত-তাহরীক Classification of Riba
According to the Islamic Sharia‘h, interest is of two kinds:
(1) Riba an-Nasi’ah (الربوا النسيئة)and (2) Riba al -Fadhl (الربوا الفضل).
(1) Riba an-Nasi’ah (Interest on credit): Riba an-Nasi’ah means one is to pay interest at a fixed rate for the sum borrowed which is to be returned after the spacific time fixed by the lender. The debtor is bound to repay the loan alongwith the stipulated amount of money. For example, when B borrows Tk.100/= from A for a year, the Tk.100/= will be repaid by B with an addition of 10% as extra during repayment. This extra amount of Tk.10/= is called Riba an-Nasi’ah i.e. interest for waiting.
(2) Riba al-Fadhl (Exchange by different quantity): The word Fadhl literally means extra. It refers to the amount which is extra in quantity, taken at the time of exchange of goods of the same type via hand to hand. This extra amount of goods is termed as Riba al-Fadhl.
Narrated Abu Sae‘ed Khudri (RA): Once Bilal (RA) came with fine quality of dates to Prophet Muhammad (pbuh).The Prophet asked him: From where have you bought them? Bilal said: We had inferior quality of dates and I exchanged two sa's of inferior quality with one sa of Barmi (a fine quality) dates. Thereupon the Prophet (pbuh) said,
أَوَّهْ عَيْنُ الرِّبَا عَيْنُ الرِّبَا لَا تَفْعَلْ وَلَكِنْ إِذَا أَرَدْتَ أَنْ تَشْتَرِيَ فَبِعْ التَّمْرَ بِبَيْعٍ آخَرَ ثُمَّ اشْتَرِ بِهِ-
"Woe! It is in fact usury; therefore, don't do that. But when you intend to buy dates (of superior quality) sell (the inferior quality) in a separate bargain and then buy (the superior quality)". (Bukhari, Muslim, Mishkat H/2814)
In another Hadeeth, Abu Sai’d Khudri (RA) reported the Prophet (pbuh) as saying:
الذَّهَبُ بِالذَّهَبِ وَالْفِضَّةُ بِالْفِضَّةِ وَالْبُرُّ بِالْبُرِّ وَالشَّعِيرُ بِالشَّعِيرِ وَالتَّمْرُ بِالتَّمْرِ وَالْمِلْحُ بِالْمِلْحِ مِثْلًا بِمِثْلٍ يَدًا بِيَدٍ فَمَنْ زَادَ أَوْ اسْتَزَادَ فَقَدْ أَرْبَى الْآخِذُ وَالْمُعْطِي فِيهِ سَوَاءٌ-
"Gold is to be paid for by gold, silver by silver, wheat by wheat, barley by barley, dates by dates, salt by salt, like by like, payment being made hand to hand. He who made an addition to it or asked for an addition, in fact dealt in usury. The receiver and the giver are equally guilty". (Muslim, Albani, Miskhat H/2809)
Such kind of transaction i.e. interest is totally prohibited in Islam. The underlying reason here is to safeguard the terms of justice and appropriate exchange might not be possible to maintain in immediate transactions. So the ruling of the Islamic Sharia‘h is to sell the goods first on a price and afterwards use the proceeds to buy the intended goods.
