Why are Somalis so opposed to riba in banking?

Every society needs banking to develop. You need to take loans for big purchases, you can’t save for 20 years just to buy a house. Take a loan and pay over 20 years.

The Somali government has interest bearing debt but the ordinary citizen is very opposed to taking loans with riba, and even including the business sector.

I’m afraid the country will never develop as long as this mentality remains, and nobody even knows this problem exists. The surprising thing is even the most educated Somalis are strongly against riba.
 
O you who believe! Be afraid of Allâh and give up what remains (due to you) from Ribâ (usury) (from now onward), if you are (really) believers
2:278

And if you do not do it, then take a notice of war from Allâh and His Messenger1 but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums).
2:278

I just don't understand how this forum allow apostates to spread their corruption.
 

Samira

Illuminated Xalimo
There are two forces in the world: Anglo Saxon Satanism (the City of London) and the revolutionary forces of Shiekh Stalin the mujaddid of the 20th century.

Muslims, by and large, chose the former. You chose riba. Enjoy the world you created!
 
Have fun staying poor.

No way to avoid interest rates and becoming economically successful.
It’s an argument of morality vs economics.

Yes good luck to Somalia.

I just find it bizarre that some of the best educated people get emotional about riba, they don’t even want a rational discussion. They typically bring up evil Jews and other conspiracy crazy stories.
 
It’s an argument of morality vs economics.

Yes good luck to Somalia.

I just find it bizarre that some of the best educated people get emotional about riba, they don’t even want a rational discussion. They typically bring up evil Jews and other conspiracy crazy stories.
STFUP YA GAAL

Riba is HARAM you understand that :fantasia2:
 

J-Rasta

Live it to the fullest
VIP
I would have tried though we call it stokvel it is no different from hagbad with interests , the thing is , you become bankrupted , you lose more than you earn. In our culture hagbad would be a different meaning , but this one is hidden with irregularities and complications.
The cycle is an entrapment , better you'd steer clear from it.
No my friend , the Somali government is in a mess , it would take years to clear the debt which I doubt they'll ever complete, I'm afraid to say this , this is why the World Bank
hinder these developing countries from development, luring with false promises , only for the cycle of impoverishment to continue , would our country develop once these entities arrive with price tags , yes more people suffer and the more we get see the untapped resources exploited.
clearly not a smart move, let that be an example.
A bank is like that once you are unable to keep up with the interest rates , they'd own you like property if they would.
 
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TekNiKo

“I am an empathic and emotionally-aware person.
VIP
Some sheikhs argue its halal for mortgage (daruura) so your kids dont grow up in the bad ghetto environment

 

Hot Ballah

I do something called "what I want"
2021 GRANDMASTER
VIP
STFUP YA GAAL

Riba is HARAM you understand that :fantasia2:
How come somalis aren’t against Riba when it’s student loans but are against it when it’s mortgages?

Somalis pay car insurance and health insurance (in the US) but it’s still haram.

Why do Somalis flipflop on financial rulings in Islam when it’s convenient but are too low IQ to not realize some of the most convenient times are when you’re paying a mortgage.

No one, especially not some qaxooti, is going to fork out hundreds of thousands of dollars in cash to buy a house. So would you rather live your whole life paying rent? You’re paying $1.5K a month for 10 years, that’s already nearly $200K you have spent during those ten years on rent and that money will NEVER return to you. You are basically throwing money into a never ending hole.

Why not pay mortgage everymonth and then after a decade or two you would have spent the same money you would have on rent except you now own a house. That’s a literal investment.
 

Cerberus

I started my own security company Cerberus.
VIP
Because someone spread the rumour from that guy that taking Riba even the fixed kind is equivalent to sleeping with your mom.
 
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