فَإِن لَّمْ تَفْعَلُوا۟ فَأْذَنُوا۟ بِحَرْبٍ مِّنَ ٱللَّهِ وَرَسُولِهِۦ ۖ وَإِن تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَٰلِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَ
Important Words:
فاذنوا (then beware of) is derived from اذن. They say اذن له i.e. he gave ear or listened to it or him; he permitted, or allowed him. أذن بالشیء means, he knew the thing; or he became informed or apprised of it. آذنه بالامر means, he made him to know the thing; or he notified or announced it to him. أذن (adhdhana) or تأذن (ta’adhdhana) means, he made known or notified or announced (Lane).
حرب (war) is from حرب. They say حربه i.e. he despoiled him of his wealth and property, leaving him without anything. حرب (hariba) means, he became greatly angry, or wrathful. الحرب means, war; hostilities (Aqrab).
رؤس اموالکم (your original sums). رؤس is the plural of رأس meaning: (1) head; (2) the upper or higher part or end of a thing; (3) chief or leader of a society. رأس الشھر means, the first day of the month. The word رأس also signifies the thing itself; as they say ھوقسم برأسه i.e. this is an independent species in itself. رأس المال means, the original sum without interest; principal; capital. The Arabs say اقرضنی عشرة برؤسھا i.e. he lent me a loan of ten pieces of money without interest (Aqrab & Lane).
Commentary:
The verse declares that the taking of interest is tantamount to waging war against God. It may be inferred from this that those among Muslims who lend money at interest, should be boycotted by the rest of the community. History bears testimony to the fact that such Muslim States as borrowed or lent money at interest were ruined.
It is often objected that no trade or commerce is possible without interest. This is not correct. There is no natural relation between trade and interest. The latter has become unconsciously associated with the former, as Western countries have based their commercial system on credit. If this had not been so, commerce would not have been dependent upon interest. Only a few hundred years ago, Muslims were responsible for a large part of the world’s commerce, and yet they carried it on without interest. They used to borrow money even from the poorer classes by way of partnership loans, and the commerce carried on by them thus contributed directly to the welfare of those classes. Interest is not at all essential for commerce, but as commerce is now being carried on, on the basis of interest, it appears as if without interest it would come to a standstill. No doubt, a change in the system would at first be inconvenient but the system of commerce depending upon interest can certainly be discarded.
Interest is, in fact, a leech which is fast sucking away the blood of humanity, especially of the lower and middle classes. Even the upper classes are not entirely secure against its poison, but they are deriving a false enjoyment from it like the proverbial leopard who ate away his own tongue by rubbing it against a rough stone, foolishly thinking it to be the blood and flesh of another animal. Unfortunately those who are willing to forego it are too weak to withstand the force of the current system.
The system of credit prevailing in Western countries is destructive to the peace of the world in two ways. On the one hand, it helps the accumulation of wealth in a few hands and, on the other, it facilitates war. No government can be imagined as entering upon a great war unless it relies upon its ability to raise money by means of loans carrying interest. Long and devastating wars are made possible only by the institution of interest. If huge loans on interest were not possible, many countries would refuse to enter what appeared to be a long war; and if they entered such wars at all, they would certainly hasten to withdraw from them long before they actually terminated, for their treasuries would become empty and their people would revolt in protest against the criminal waste of men and money. But the system of what appear to be easy loans makes it possible for governments to carry on ruinous struggles as they are able to obtain the sinews of war without having to resort to a system of direct taxation. The people of belligerent countries do not, at the moment, feel the burden which is laid on their backs, but after the war is over their backs are bent double under the staggering weight of national debts and future generations are kept busy reducing the weight. Take, for instance, the case of the last Great War. If huge loans had not been possible, the result of the war would still have been the same, but the devastation and the heavy indebtedness of the different countries would have been avoided. Nay, the War itself might have been avoided; and even if it had taken place, the belligerents would soon have been exhausted, peace would have been signed within a year, and the world would have proceeded on its forward march of progress. A worse fate is perhaps awaiting the Western countries at the termination of the present World War.