THE president of Sharia Savings Scheme, an interest-free cooperative, Alhaji Muili Fadipe, has advised Muslims to shun taking loans that attract interest from banks and other financial institutions in order to avoid Allah’s punishment.
Alhaji Fadipe gave the advice on Sunday in Ibadan, Oyo State, in an address at the 20th anniversary celebration and award presentation of the association.
According to him, Sharia Savings Scheme was established to save members of the ummah from the sin of riba (usury) arising from taking loans that attract interests from conventional banks as well as in fulfillment of Allah’s commandments which forbid it.
He lamented that the poor economic situation…
Source: Nigerian Tribune
