Dr Tahir-ul-Qadri says that (maaz Allah) interest is halal for Muslims living in Canada or West as published in a local newspaper.
It is a bad habit for many of us that we are very quick in believing on the news stories or rumors and don’t feel any need to do our own research. The is one of the biggest problems of Muslim ummah of today that we have not learnt to do research on any religious or non-religious matter. That is one of the key reasons we are way behind from the World developments. This lack of research also causes us to develop misunderstandings and we keep on fighting with each other on minor issues.
Some local newspaper printed a totally baseless and false news that according to Dr. Tahir-ul-Qadri (maaz Allah) interest is halaal for Muslims living in Canada and Western countries. It is unknown why the newspaper printed this totally baseless statement. This could be either they had misinformation or had bad intentions (Allah knows better).
Those who know Dr. Qadri, knows very well that he was the only scholar who fought publicly on a very large scale against the legality of interest based banking in 1990s and challenged the belief of the Government of that time that interest-free banking may not be practical. He not only declared that interest-free system is very practical in today’s World, but provided a detailed structure of the interest-free banking system. He conducted huge conferences and rallies against interest based banking system. Here is a clip in which he is introducing his book on interest free banking:
In a similar issue regarding Mortgage based financing for Muslims living in Western countries, he delivered a detailed lecture in light of Qur’an and Hadith that provides a practical solution to many problems for the Muslims living in the West. It is worth listening and we must listen to this two hour lecture completely before concluding anything: