Maulana Sa’id was the Grand Mufti of Darul Ulum , Deoband. In keeping with the Hanafi Fiqh in general and Deobandi legacy in particular, he held the view that in non-Muslim lands , there is conditional permissibility of interest-based transactions, especially charging interest to non-Muslims.
To support his argument that charging of interest on the loan extended by the banks was not un-Islamic, the counsel referred to Tarjuman-i-Quran by Maulana Abul Kalam Azad. At this juncture, Chief Justice Sheikh Riaz observed that tafseer by Maulana Azad was not complete and only covered 17 Paras of Holy Qur’an.
[Book Review of Scharia und Moderne: Diskussionen ber Schwangerschaftsabbruch, Versicherung und Zinsen, by Rdiger Lohlker. 156 pages, bibliography. Stuttgart, Germany: Deutsche Morgenlandische Gesellschaft, 1996. ISBN 3-515065-822; Reviewer, Adam Sabra, University of Michigan, note #1]He is the highest ranking scholar/cleric at Al-Azhar and also the Grand Mufti of Egypt.
Despite being a traditional, orthodox scholar by all means, his position was harshly and summarily rejected by other scholars. However, this is an illustrative case for those who think, argue or claim that only heretic or deviant scholars or intellectuals may have a variant position challenging the Riba-Interest Equation. However, as Mahmoud El Gamal points out that the basis for this fatwa goes back at least a century earlier. “The basis for this fatwa is at least a century old.”Dr.
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