Another verse that makes it clear that there is a difference between trading in goods and services and in borrowing, is when Allah specifically mentions a borrowing transaction at one place in the Qur'an. In this verse, Allah instructs a Muslim to give more time to his brother in religion when he is genuinely unable to return his money in time. (4) Giving more time means waiting patiently, and obviously, does not mean charging any additional amount due to the delay. Allah goes to the extent of saying in the Holy Qur'an that if the borrower were facing some genuine difficulty in returning the money, it would be better if the creditor left the amount of principal altogether and treated it as a sadqa. Again, it becomes very obvious that Allah forbids us to charge anything over and above the principal. In fact, He wants us to be kind to the borrower, and not even ask for the principal amount in some genuine cases.

There is another verse, which says that Allah promotes sadqa and eliminates riba. (5) This shows that riba and sadqa are totally opposite transactions in their form and spirit. Sadqa is giving to others and sacrificing, riba is taking from the other person and forcing him to undergo suffering. Under this verse too, it becomes clearer that anything over and above the principle amount is forbidden.

If we refer to the verses pointed out in the above explanation, and try to understand their meaning deeply, it may become evident that the modern day bank interest, whatever is its rate, and by whatever name it is called, is riba.

Now, the important point is not to mix the two: the banning of riba for all times by Allah, and our ability to follow this clear-cut injunction today because the whole economic system is based on riba. As mentioned above, we as Muslims are bound to follow the injunctions of Allah even if we are at a great loss. But we must remember, Allah does not want human beings in general, and Muslims in particular, to lose or be destroyed. He wants us to be successful both in this life and in the hereafter. Therefore, there is definitely some other way in which we can follow Allah's injunctions and still be successful. We could find that way only if we do enough research and use the intellect and wisdom gifted to us by Allah to solve this problem. Allah Himself guides those who make genuine efforts in His way.