The Holy Quraan – What The  Holy Book Says About Debt!

A         Surah II Al Baqarah

In the name of God, Most Gracious, Most Merciful

Verse 278

Fear God, and give up,

What remains of your demand

For Usury, if ye are

Indeed Believers

Verse 279

If ye do it not,

Take notice of war

 From God and His Apostle

But if ye turn back,

Ye shall have

Your capital sums

Deal not unjustly

And Ye Shall not

Be dealt with unjustly

Verse 280

If the debtor is

In a difficulty,

Grant him time

Till it is easy

For him to repay

But if ye remit it

By way of charity

That is best for you

If ye only knew

 Verse 281

And fear the Day

When ye shall be

Brought back to God

Then shall every soul

Be prepared what it earned

And none shall be

Dealt with unjustly

 

B       From Al Bukhari

 Volume 3, Book 41, Number 572:

Narrated Abu Huraira:

The Prophet said, “Whoever takes the money of the people with the intention of repaying it, Allah will repay it on his behalf, and whoever takes it in order to spoil it, then Allah will spoil him.”

Volume 3, Book 41, Number 582:

Narrated ‘Aisha – May Allah Be Pleased with her:

Allah’s Apostle used to invoke Allah in the prayer saying, “O Allah, I seek refuge with you from all sins, and from being in debt.” Someone said, O Allah’s Apostle! (I see you) very often you seek refuge with Allah from being in debt. He replied, “If a person is in debt, he tells lies when he speaks, and breaks his promises when he promises.”

Volume 3, Book 41, Number 573:

Narrated Abu Dhar:

Once, while I was in the company of the Prophet, he saw the mountain of Uhud and said, “I would not like to have this mountain turned into gold for me unless nothing of it, not even a single Dinar remains of it with me for more than three days (i.e. I will spend all of it in Allah’s Cause), except that Dinar which I will keep for repaying debts.”

Then he said, “Those who are rich in this world would have little reward in the Hereafter except those who spend their money here and there (in Allah’s Cause), and they are few in number.”

Volume 3, Book 41, Number 574:

Narrated Abu Huraira:

Allah’s Apostle said, “If I had gold equal to the mountain of Uhud, it would not please me that it should remain with me for more than three days, except an amount which I would keep for repaying debts.”

Volume 3, Book 41, Number 576:

Narrated Hudhaifa:

I heard the Prophet saying, “Once a man died and was asked, ‘What did you use to say (or do) (in your life time)?’ He replied, ‘I was a business-man and used to give time to the rich to repay his debt and (used to) deduct part of the debt of the poor.’ So he was forgiven (his sins.)” Abu Masud said, “I heard the same (Hadith) from the Prophet.”

Volume 3, Book 41, Number 582:

Narrated ‘Aisha:

Allah’s Apostle used to invoke Allah in the prayer saying, “O Allah, I seek refuge with you from all sins, and from being in debt.” Someone said, O Allah’s Apostle!

(I see you) very often you seek refuge with Allah from being in debt. He replied, “If a person is in debt, he tells lies when he speaks, and breaks his promises when he promises.”

Volume 3, Book 41, Number 585:

Narrated Abu Huraira:

Allah’s Apostle said, “Procrastination (delay) in repaying debts by a wealthy person is injustice.”

Volume 3, Book 41, Number 586:

Narrated Abu Huraira:

A man came to the Prophet and demanded his debts and used harsh words. The companions of the Prophet wanted to harm him, but the Prophet said, “Leave him, as the creditor (owner of the right) has the right to speak.”

Volume 3, Book 41, Number 587:

Narrated Abu Huraira:

Allah’s Apostle said, “If a man finds his very things with a bankrupt, he has more right to take them back than anyone else.”

Volume 3, Book 41, Number 600:

Narrated ‘Abdullah bin Ka’b bin Malik:

Ka’b demanded his debt back from Ibn Abi Hadrad in the Mosque and their voices grew louder till Allah’s Apostle heard them while he was in his house. He came out to them raising the curtain of his room and addressed Ka’b, “O Ka’b!” Ka’b replied, “Labaik, O Allah’s Apostle.” (He said to him), “Reduce your debt to one half,” gesturing with his hand.

Kab said, “I have done so, O Allah’s Apostle!” On that the Prophet said to Ibn Abi Hadrad, “Get up and repay the debt, to him.”

Volume 3, Book 41, Number 606:

Narrated ‘Abdullah bin Ka’b bin Malik Al-Ansari from Ka’b bin Malik:

That ‘Abdullah bin Abi Hadrad Al-Aslami owed him some debt.

Ka’b met him and caught hold of him and they started talking and their voices grew loudest. The Prophet passed by them and addressed Ka’b, pointing out to him to reduce the debt to one half.

So, Ka’b got one half of the debt and exempted the debtor from the other half.

C       Hadith

It was narrated that Abu Hurayrah said: The Messenger of Allaah (peace and blessings of Allaah be upon him) said:

“The soul of the believer is suspended because of his debt until it is paid off.” Narrated by al-Tirmidhi (1078).

It was narrated that ‘Umar ibn al-Khattaab (may Allaah be pleased with him) said:

Beware of debt, for it starts with worry and it ends with war.

Narrated by Maalik in al-Muwatta’ (2/770).

May Allah SWT Guide Us To Do The Right & Correct Things – Amin.