Usury is forbidden in Islam

SHAFAQNA – Ayah 275 of Surah Al-Baqarah says: “Yet Allah (SWT) has permitted trading and forbidden usury.” Ayah 278 of Surah Al-Baqarah says: “O’ you who believe, fear God and write off the rest of usury outstanding from previous lending if you are believers.” Ayah 130 of Surah Al-e-Imran says: “O’ you who believe, do not live off usury that is compounded over and over again.” Ayah 161 of Surah Al-Nesa says: “They took usury despite being forbidden and idly consumed other people’s wealth; We have reserved painful torment for those who are disbelievers.”