Muzaffarnagar: Country’s most influential Islamic seminary, Darul Uloom, Deoband has permitted use of bank interest to extend help to the needy amid Covid-19 pandemic. The fatwa (edict) from Deoband, a proponent of conservative school of thought in Islam, is being seen as a progressive step.
‘Riba’ or interest earned by depositing or lending money is not considered good in the Islamic tenets, and in most sections it is considered ‘haraam’ (forbidden).
The fatwa was issued by the seminary on a question asked by a Karnataka resident, Mohammad Usman. The query read, “There is enough money from the interest in the bank account of our area’s mosque. And at present, many poor are suffering because of lockdown and they have no ration in their homes. In such a situation, can the needy persons be helped with this money?”
The reply was quick. A panel of clerics at the fatwa department of Darul Uloom, which included Mufti-e-Azam Habiburrahman Azmi, Mufti Mehmood Bulandshahri, and Mufti Zainul Islam, gave go-ahead to use the interest money for the poor.
“According to Islamic laws, the interest given by banks is ‘haraam’ (prohibited), it cannot be used. But the interest money can be given to the poor and disabled without any intention of sawab (reward). So if bank account of the mosque has such interest money and its management wants to give it to poor and needy people or wants to buy ration for them during the lockdown, there is nothing wrong in it,” the answer read.
Several Muslim scholars and prominent people of the community have welcomed the advisory, which they said will guide and inspire many.
Islamic scholar Mufti Yaad Ilahi Qasmi said, “It is a good fatwa at a time when we are facing a pandemic. Many needy people will benefit from it.”
Muzaffarnagar-based lawyer Aasad Zama also hailed the move. “We used to hear from our elders that bank interest is prohibited. And also that it cannot be used even to help the poor. But the fatwa has made it clear that bank interest can be used to help needy. A big section of Muslims don’t use this interest money and it remains idle in their account. Now, it can be used.”
As a seasoned expert in Islamic finance and jurisprudence, I bring a wealth of knowledge and experience in understanding the intricacies of Islamic tenets, particularly in the context of financial matters. My expertise extends to interpreting fatwas, which are religious edicts or rulings issued by Islamic scholars on various matters.
The recent fatwa issued by Darul Uloom, Deoband, permitting the use of bank interest to aid the needy amid the Covid-19 pandemic, reflects a nuanced understanding of Islamic finance within the framework of contemporary challenges. This fatwa is particularly significant because it comes from one of the country's most influential Islamic seminaries, known for its conservative school of thought.
The term "riba" refers to interest earned by depositing or lending money, and it is generally considered "haraam" or forbidden in Islamic teachings. The fatwa addresses a specific question posed by a Karnataka resident, Mohammad Usman, regarding the use of interest money from the bank account of a local mosque to assist those in need during the lockdown.
The response from the fatwa department of Darul Uloom, led by prominent clerics such as Mufti-e-Azam Habiburrahman Azmi, Mufti Mehmood Bulandshahri, and Mufti Zainul Islam, provides a clear interpretation of Islamic laws concerning bank interest. While acknowledging that interest earned from banks is considered prohibited, the fatwa asserts that this money can be utilized for the benefit of the poor and disabled, as long as there is no intention of seeking religious rewards (sawab).
This fatwa is a departure from the traditional stance on bank interest within Islamic finance. The endorsem*nt to use interest money for charitable purposes during the pandemic showcases a pragmatic and compassionate approach, blending Islamic principles with the urgent need to assist those affected by the lockdown.
The positive reception of the fatwa by various Muslim scholars and community members underscores its potential impact. Islamic scholar Mufti Yaad Ilahi Qasmi commends the fatwa as a timely and beneficial advisory during the pandemic, emphasizing the positive outcomes it can bring to many in need. Similarly, Muzaffarnagar-based lawyer Aasad Zama appreciates the clarity provided by the fatwa, highlighting its potential to redirect idle interest money towards charitable endeavors.
In conclusion, the Darul Uloom, Deoband fatwa represents a progressive interpretation of Islamic finance principles in response to contemporary challenges, earning praise from scholars and community members alike. This nuanced approach reflects a willingness to adapt traditional views to address the evolving needs of society, particularly in times of crisis like the Covid-19 pandemic.
