It is natural for human beings to seek the increase of their wealth. However, money is not the source of happiness or the magic wand that solves people’s problems. What increases wealth are Allah’s Blessings, and the way money is made. Lawful sustenance is the blessed type of money that can be enjoyed even if it is little. This is why Muslims should pursue the lawful avenues of making money with total confidence in Allah that He will bless their efforts and increase their wealth.
Allah has guaranteed sustenance for His creation, saying: “There is no moving creature on earth but its sustenance dependenth on Allah: He knows the time and place of its definite abode and its temporary deposit: all is in a clear record.” (Hud: 6).
The Prophet (peace and blessings be upon him) has stated that Angel Gabriel informed him that Allah says that no soul will perish before it receives its prescribed sustenance. He also has warned us that unlawful money is a reason for Allah to ignore the prayers of humans.
Having clarified the above, we should affirm here that loans with interests are some of the very worst actions of disobedience to Allah. The Prophet (peace and blessings be upon him) in a Hadith narrated by Ahmad has said, “The punishment of a dirhman – a currency unit – of interest is equivalent to committing adultery 36 times.”
Muslim scholars have reached a unanimous decision on the unlawfulness of usury. Furthermore, the exception they have made excluded borrowing money to make a business. If it happened that a Muslim has dealt in interest, he or she should estimate the percentage of interest received and donate it with the intention of purifying his business from haram money. Even if this process takes some time and comes incrementally, Allah will help those who are sincere in their efforts to clean their money. If Allah also sees a commitment to repent, then He Almighty will accept it as He is the Most Merciful.