Debt in the Islamic Perspective

  • Regular
  • Islamic Finance
  • 5 months ago
  • 108

In general business people are not afraid of debt, because they know how to pay debts and unfortunately many of the businessmen run away from debt or look for ways to not pay off debt. As a result of their actions there are other parties who are harmed and those who are often harmed are public assets or state assets, note the state losses due to IDR 2,000 Trillion BLBI, this case is related to bankers who are given debt by the state, but they are miserable. (

For state administrators, they are often too brave to owe money to other countries in the hope that they can repay, even though donor countries in general are capitalist countries who want to get multiple benefits from the money they invest from a country. They want to take control of the economy of a country they are helping, aka "there is no free lunch". At first they intend to only invest, but in practice they always want to dominate the country's politics and government in the name of democracy, they will put their faithful people in control of a country, thus whatever they want to get unlimited benefits, they will try, if necessary by iron and oligaristic hands, this is the reality that happens when a country is in debt.

Countries that are diligently in debt experience serious problems, they are forced to follow the wishes of donor countries, just pay attention to Indonesia when the 1998 crisis, the IMF forced Indonesia to run bitter IMF programs, the country seemed helpless, they asked assets to be auctioned off, the people living in exhaustion, as a result all strategic assets fall to greedy capitalists, they buy cheaply, and strangely they get easy money that is also funded by public money, whether through bank loans, or with BLBI policies, where this policy they use it wrongly. And there are also those who enjoy these assets of foreigners who indeed work waiting for countries in the third world to be in trouble, then they go down to buy assets at cheap prices which in time they will be released again.

Also pay attention to several other countries that have problems due to debt, Greece, Zimbabwe, Ecuador, Jamaica, Puerto Rico, Argentina and Nauru, ( all the people of this country live in long-term suffering, but capitalists still enjoy outside wealth As usual, they can still live with fun while the community lives in misery. So anytime and anywhere debt will cause problems to every person who owes, and if the country is in debt, then the general public will be most affected. In the view of Islam, debt is permissible as long as there is benefit, but Islam does not advocate for debt, even Islam provides strong warnings to people who like to owe.

The Prophet reminded his companions that there were worldly and religious threats to those who owe. The point is that you can avoid debt because he will make people weak by other humans and his own soul will not be calm when he cannot pay the debt. Try to note some of the Prophet's hadiths related to this debt.

 From Tsauban, the Prophet sallallaahu ‘alaihi wa sallam said,

 مَنْ فَارَقَ الرُّوحُ الْجَسَدَ وَهُوَ بَرِىءٌ مِنْ ثَلاَثٍ دَخَلَ الْجَنَّةَ مِنَ الْكِبْرِ وَالْغُلُولِ وَالدَّيْنِ

"Whoever is separate from his body and he is free from three things: [1] arrogant, [2] ghulul (betrayal), and [3] debt, then he will go to heaven." (Narrated by Ibn Majah no. 2412. Shaykh Al Albani said that this hadith is shohih). Ibn Majah presents this hadith in the chapter "Stern warning about debt."

The Affairs of the Debt Still Hang

From Abu Hurairah, the Prophet sallallaahu ‘alaihi wa sallam said,

نَفْسُ الْمُؤْمِنِ مُعَلَّقَةٌ بِدَيْنِهِ حَتَّى يُقْضَى عَنْهُ

"The soul of a believer still depends on his debt until he repays it." (Narrated by Tirmidzi no. 1078. Sheikh Al Albani said that this hadith is shohih as in Shohih wa Dho'if Sunan At Tirmidzi)

Al ‘Iroqiy said," His affairs are still hanging, there is no punishment for him, that is, it cannot be determined whether he survived or perished, until it was seen that the debt was paid off or not. "(Tuhfatul Ahwadzi, 3/142)

People Who Intend To Not Pay Off Their Debt Will Be Sentenced As Thieves

From Shuhaib Al Khoir, the Prophet sallallaahu ‘alaihi wa sallam said,

أَيُّمَا رَجُلٍ يَدَيَّنُ دَيْنًا وَهُوَ مُجْمِعٌ أَنْ لاَ يُوَفِّيَهُ إِيَّاهُ لَقِىَ اللَّهَ سَارِقًا

"Anyone who is in debt and intends not to pay it off, he will meet Allah (on the Day of Judgment) in the status of a thief." (Narrated by Ibn Majah no. 2410. Sheikh Al Albani said that this hadith is hasan shohih)



Syariah Adviser GFS Asia,

Post-graduate Lecturer in Ahmad Dahlan's Institute of Engineering and Business