Few examples of Riba

To demonstrate the devastating power in the mechanism of Riba and the ignorance on the subject, following are few examples.

  1. Suppose, if just One Gram of Gold (i.e., one millionth of a metric ton) was loaned at an interest rate of 2% p.a. at the time of first Hijri year (Islamic calender), then today (after 1422 Islamic years) the quantity of gold required to repay that loan would be 1,696,071.847 metric tons of gold, while the total gold reserve of the world known today (explored or unexplored) are less than 160,000 tons.

  2. If a nation takes a loan of say US dollars one billion at an interest rate of 3% p.a., it would have to repay US dollars 4.3839 billion after fifty years. One can imagine the multiplying rate of Riba mechanism that had badly affected the economies of already weak nations.

  3. The president of a country while targeting his predecessors asking publicly that his country is under plenty of debt and where that money had gone? He was unaware of the fact that despite paying more than the actual amount the country took as loan, they are still under debt by more than the amount they had taken as loan. The fact is, the money he is talking about gone somewhere or eaten up by the politicians never existed and is only present in accounting figure of liabilities. It is the dilemma that even heads of the states are not clear about the artificial behavior of Riba so what to talk about a common person.