Tag Archives: Debt

The Harm of The Habit of Being in Debt

The Harm of The Habit of Being in Debt

Author: Said Yai bin Imanul Huda, MA

Islam is a noble religion. Islam already oversees all aspects in social life, including debt and credit. Not only does Islam allow a man to owe other, it also regulates the etiquettes and rules in debt.
The basic ruling of debt is permissible (jaa-iz)

Allah the Glorified and Exalted mentioned some of the etiquettes in debt inside the Qur’an. Allaj the Glorified and Exalted decreed,

{ يَا أَيُّهَا الَّذِينَ آمَنُوا إِذَا تَدَايَنْتُمْ بِدَيْنٍ إِلَى أَجَلٍ مُسَمًّى فَاكْتُبُوهُ }

Believers! Whenever you contract a debt from one another for a known term, commit it to writing.” (Chapter Al Baqara/The Cow:282)

Even the Messenger of Allah -peace and prayer of Allah be upon him- once indebted to other. At the end of his life, he still owed a jew, and his debt was paid with the armor that he mortgaged to that person
It is narrated from ‘Aisha -may Allah be pleased with her- that she said,

( أَنَّ النَّبِيَّ -صلى الله عليه وسلم- اشْتَرَى طَعَامًا مِنْ يَهُودِيٍّ إِلَى أَجَلٍ فَرَهَنَهُ دِرْعَهُ )

“The Prophet -peace and prayer of Allah be upon him- bought food from a jew not in cash, thus he mortgaged his armor to him.” (Narrated by Al-Bukhari no. 2200)
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Ruling of Recording and Presenting Witness in Debt

Ruling of Recording and Presenting Witness in Debt

Ruling of Recording and Presenting Witness in Debt

In the name of Allah, peace and prayer of Allah be upon His messenger, amma ba’du.

Islam urges that transaction of debt that takes place among people should be recorded. Allah decreed,

يَا أَيُّهَا الَّذِينَ آمَنُوا إِذَا تَدَايَنْتُمْ بِدَيْنٍ إِلَى أَجَلٍ مُسَمًّى فَاكْتُبُوهُ وَلْيَكْتُبْ بَيْنَكُمْ كَاتِبٌ بِالْعَدْلِ وَلَا يَأْبَ كَاتِبٌ أَنْ يَكْتُبَ كَمَا عَلَّمَهُ اللَّهُ فَلْيَكْتُبْ وَلْيُمْلِلِ الَّذِي عَلَيْهِ الْحَقُّ وَلْيَتَّقِ اللَّهَ رَبَّهُ وَلَا يَبْخَسْ مِنْهُ شَيْئًا

Believers! Whenever you contract a debt from one another for a known term, commit it to writing. Let a scribe write it down between you justly, and the scribe may not refuse to write it down according to what Allah has taught him; so let him write, and let the debtor dictate; and let him fear Allah, his Lord, and curtail no part of it. (Chapter al Baqara/The Cow:282)
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Again, About Debt

about debt

In the name of Allah.

“O Allah, please ease and help me.”

In Question and Answer section of the site www.KonsultasiSyariah.com, we often received many whines about debt. Often too, some of those whiner told about the advice of shaman in their mails. Among them there are people who use the chapter Al Fatihah as their secret trick to be rich, or use recitation made by the “Kiai” (religious figure). Indeed, there are various ways people take to obtain money instantly when they are cornered.

Dear readers, probably it has became human’s trademark. When he is cornered, shari’a rules are much lesser priority. Even though he has to sacrifice his faith, he’ll do it, or anything; the most important thing is to solve the problem as soon as possible. Indeed, this is the portrait of a looser, whose patience is as paper thin, upon carrying trial that Allah has destined for him.
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Abolishment of Debt by Debt in Islam

Definition

In Islamic Economy, there is a terminology of “muqashshah”, which in Arabic etymology means, when  someone, Mr. A for example, indebted to Mr. B, while B in the same time indebted to him the similar amount of money. In terminology point of view, muqashshah means the consideration of abolishment of A’s debt to B, since B also have debt on him. Thus, muqashshah is a one of the way to pay someone’s debt. Ibnu Jizzi, a scholar of Maliki, stated that, “Muqashshah is abolishing debt by debt.”

The Difference between Muqashshah and Ibra’

In Arabic etymology, ibra’ (the abolishment of debt) means cleaning, purifying, and being away from something. Terminologically, Ibra’ is the abolishment of other people’s debt. Ibra’ differs from muqashshah, in a way that muqashshah is an abolishment of debt by compensation, while ibra’ does not require any of it.

abolishment of debt by debt in islam

The Ruling of Muqashshah

Muqashshah, as one could see, is legalized in Sharia by some argumentations and by logical reason. In a hadeeth, Ibn Umar once told The Prophet Shallallaahu ‘alayh wa Sallam, “O The Messenger of Allah, hold a second, I want to ask you question. I sold a camel in Baqi’, and the price was set using dinar, but the payment I got was in the form of dirham. Sometimes the price was set using dirham, but what I received was dinar. I took this from that, and I paid by this.” The Messenger of Allah replied,

لَا بَأْسَ أَنْ تَأْخُذَهَا بِسِعْرِ يَوْمِهَا مَا لَمْ تَفْتَرِقَا وَبَيْنَكُمَا شَيْءٌ

“It is alright for you to take it, but with the current price (of that day), and with the requirement that before you left them, all parties have already received their rights.” (Collected by Abu Daud, no. 3354; but the status is weak according to Al Albanee)

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