RULING OF CREDITS AND LOANS
Credit, as one can easily see today, has became one of the most popular method of trading and payment among worldwide society. Since it gives convenience and ease for most people rather than direct payment, no wonder that it keeps gaining favors day by day, from all levels of society, including muslim.
It is known that the credit system has long been a part of human economical life, even in the era of Allah’s apostle, Muhammad Shallallaahu ‘alayhi wa Sallam. Back then, it’s system was much more simple, as people’s social and economic system itself. But today, it has developed lots of forms, which are probably similar in names and mentioning, but differ in essence and way of conduct.
Thus, it is very important for one to understand the details of every forms of credits, in order to compare it’s equalities with practices done in our Prophet Shallallaahu ‘alayhi wa Sallam’s time, and determine it’s verdict eventually.