Why is bank interest haram?

[Mujib]

Why is bank interest haram?
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Question:

Could you please tell me why paying and receiving interest is haram? Also, if interest is haram, isn't profit also haram? What are the rules on interest if someone is in desperate need of money?
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Assalamu Alaykum wa Rahmatullah,

Please see the following links:


Interest, Riba, and War
http://www.sunnipath.com/resources/Questions/qa00000373.aspx

Markups and riba
http://www.sunnipath.com/resources/Questions/qa00002554.aspx

Why is Riba, such as bank interest, forbidden? Are there alternatives in Britain?
http://www.sunnipath.com/resources/Questions/qa00000413.aspx

Taking interest in non-Muslim lands?
http://www.sunnipath.com/resources/Questions/qa00002276.aspx

Shaykh Buti on Riba (usury) in the West
http://www.sunnipath.com/resources/Questions/QA00000407.aspx

Riba in the West
http://www.sunnipath.com/resources/Questions/QA00000404.aspx


Wassalam
Hanafi Fiqh Staff


Source: Hanafi Fiqh List - www.sunnipath.com

[Gareeb]

Jazakallah..