Give Muslims Islam-compliant palliatives, not interest loans, MURIC tells FG

FOLLOWING President Bola Tinubu’s offer of palliatives in the form of interest loans to some sections of Nigerians, an Islamic organisation, the Muslim Rights Concern (MURIC), has requested for Islam-compliant palliatives like soft loans for Nigerian Muslims instead of interest loans.

In a statement by its Executive Director, Professor Ishaq Akintola, the group explained that it is haram (forbidden) for Muslims to receive or give interest on loans.

IMURIC said: “We appreciate the concern of President Bola Ahmed Tinubu for Nigerians, particularly in these difficult times. The offer of loans to cushion the effect of the withdrawal of oil subsidy shows that the president cares about the citizenry.

“However, Nigerian Muslims cannot and will not take interest loans as the latter is capable of constituting a wedge between Nigerian Muslims and their Creator (Almighty Allah). We prefer the everlasting peace of al-akhirah (the Hereafter) to the material gains of this world.

“Interest is haram and Allah explicitly forbids it when He says, ‘Oh you who believe, fear Allah and give up that interest which is still due to you, if you are true believers. But if you do not desist, then you are warned of the declaration of war against you by Allah and His Messenger….’ (Qur’an 2:278-279).

“The interest loan being offered by President Tinubu cannot benefit Muslims in this country. We therefore suggest that the Federal Government should arrange soft loans for the Muslim population in particular and any other citizens who may desire it.

“One of the problems with Nigeria is that the system bequeathed to us by the colonial master is not Islam-compliant. It therefore conflicts very often with the Islamic way of life. This is why the Federal Government needs to prepare alternatives for Muslims who are more than 130 million in the country in the name of fairness, equity and justice.

“We reiterate that interest loan is haram and Muslims will not touch it with a long pole. The Federal Government should therefore expedite action on introducing Islam-compliant palliatives such that it is made available for Muslims at the same time that interest loans are accessible to others because hunger is spreading fast among the populace as prices sky-rocket daily.”

“We advise the Federal Government to consult Islamic scholars regularly, particularly on policy issues in order not to cause misunderstanding between the government and Nigerian Muslims. nWe also suggest that an expert in Islamic finance should be a member of the National Economic Council (NEC).”