Is Rental Income Halal?
The context tells us that bad guys “are not even prepared to lend ordinary items of common use to others”. In other words, we should lend and share things with others in order to become good guys, right? However, it does not necessarily mean that renting is forbidden because if we take that meaning it will also make trade haram which is against other verses of Quran. Based on the above we can say rent is not forbidden and therefore lending money with a charge for credit service is also not forbidden as both are the same transaction in substance and only terminology or form is different. Now the question is what is riba and why it is forbidden? Is riba actually usury (an exorbitant rate charged when borrower is helpless under force of necessity) and not interest (a charge for credit service at fair market price) ? If one insists that usury and interest both are haram then he has to identify (1) a unique evil in interest, which does not exist in renting, regardless of terminology. Sir Ghamidi videos and Mezan do not address this point. Dr Shahzad Saleem’s clip on usury and interest also does not explain why he believes both are the same. (i.e rational or reference from Quran or sunnah is missing) A dictionary definition of riba or usury also contradicts with the view that interest and usury are the same. Usury is a one way flow of money without any reciprocity whereas interest is a two way transaction i e a fee for credit service. Please raise this issue with Hassan and ask him to cover in the next video on 23 responses unless someone can explain it here.