Interest
Interest is now made lawful since one can seldom find a person willing to loan on benevolent terms; no limit set, but should be with moderation and House of Justice may regulate[edit]
"As to thy question concerning interest and profit on gold and silver: Some years ago the following passage was revealed from the heaven of the All-Merciful in honour of the one who beareth the name of God, entitled Zaynu'l-Muqarrabín[+F1 One of the early believers who is best known to the friends for his reliable transcriptions of the Tablets of Bahá'u'lláh. (See Memorials of the Faithful pp. 150-153.)] --upon him be the glory of the Most Glorious. He--exalted be His Word--saith: Many people stand in need of this. Because if there were no prospect for gaining interest, the affairs of men would suffer collapse or dislocation. One can seldom find a person who would manifest such consideration towards his fellow-man, his countryman or towards his own brother and would show such tender solicitude for him as to be well-disposed to grant him a loan on benevolent terms.[+F2 Such loans as bear no interest and are repayable whenever the borrower pleases.] Therefore as a token of favour towards men We have prescribed that interest on money should be treated like other business transactions that are current amongst men. Thus, now that this lucid commandment hath descended from the heaven of the Will of God, it is lawful and proper to charge interest on money, that the people of the world may, in a spirit of amity and fellowship and with joy and gladness, devotedly engage themselves in magnifying the Name of Him Who is the Well-Beloved of all mankind. Verily He ordaineth according to His Own choosing. He hath now made interest on money lawful, even as He had made it unlawful in the past. Within His grasp He holdeth the kingdom of authority. He doeth and ordaineth. He is in truth the Ordainer, the All-Knowing.
"Render thou thanks unto thy Lord, O Zaynu'l-Muqarrabín, for this manifest bounty.
"Many ecclesiastics in Persia have, through innumerable designs and devices, been feeding on illicit gains obtained by usury. They have contrived ways to give its outward form a fair semblance of lawfulness. They make a plaything of the laws and ordinances of God, but they understand not.
"However, this is a matter that should be practised with moderation and fairness. Our Pen of Glory hath, as a token of wisdom and for the convenience of the people, desisted from laying down its limit. Nevertheless We exhort the loved ones of God to observe justice and fairness, and to do that which would prompt the friends of God to evince tender mercy and compassion towards each other. He is in truth the Counsellor, the Compassionate, the All-Bountiful. God grant that all men may be graciously aided to observe that which the Tongue of the One true God hath uttered. And if they put into practice what We have set forth, God--exalted be His glory--will assuredly double their portion through the heaven of His bounty. Verily He is the Generous, the Forgiving, the Compassionate. Praise be unto God, the Most Exalted, the Most Great.
"Nevertheless the conduct of these affairs hath been entrusted to the men of the House of Justice that they may enforce them according to the exigencies of the time and the dictates of wisdom.
"Once again We exhort all believers to observe justice and fairness and to show forth love and contentment. They are indeed the people of Bahá, the companions of the Crimson Ark. Upon them be the peace of God, the Lord of all Names, the Creator of the heavens."
- (Bahá'u'lláh, Tablets of Bahá'u'lláh, pp. 132-134)
Accusation that Bahá'u'lláh practiced usury was calumnious; usury has been forbidden to all[edit]
"We have heard that one of these calumniators hath alleged that this Servant practised usury whilst residing in `Iráq, and was engaged in amassing riches for Himself. Say: How can ye judge a matter whereof ye have no knowledge? How can ye hurl calumnies against the servants of God, and entertain such evil suspicions? And how could this accusation be true, when God hath forbidden this practice unto His servants in that most holy and well-guarded Book revealed unto Muhammad, the Apostle of God and the Seal of the Prophets, a Book which He hath ordained to be His abiding testimony, and His guidance and monition unto all mankind? This is but one of the matters in which We have opposed the divines of Persia, inasmuch as We have, according to the text of the Book, forbidden unto all men the practice of usury. God Himself beareth witness to the truth of My words. ``Yet I hold not myself clear, for the soul is prone to evil.''72 [Qur'án 12:53.] We intend only to impart unto you the truth, that ye might be informed thereof and be of them that lead a godly life. Beware lest ye give ear to the words of those from whom the foul smell of malice and envy can be discerned; pay no heed to them, and stand ye for righteousness."
See also[edit]
- Disposal of objects held in trust (to avoid depreciation)
- Inheritance for under-age children (trust for investment and distribution of profit/interest)
- Economics
- Profit-sharing