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Shiavault - a Vault of Shia Islamic Books Al-mizan an Exegesis of the Qur'an (volume Four) Volume 4: Surah Baqarah, Verses 275-281 Those who swallow down interest cannot stand except as one whom Satan has confounded with (his) touch does stand. That is because they say, trade is only like interest. And Allah has allowed trade and forbidden interest.
To whomsoever then the admonition has come from his Lord, then he desists, for him shall be what has already passed, and his affair rests with Allah; and whoever returns (to it) - these are the inmates of the fire; they shall abide in it (275). Allah effaces interest, and He causes charities to grow; and Allah does not love any ungrateful sinner (276).
Surely they who believe and do good deeds and establish prayer and pay the poor-rate they shall have their reward with their Lord and they shall have no fear, nor shall they grieve (277). 0 you who believe! fear Allah and forgo what remains (due) from interest, if you are believers (278). But if you do (it) not, then be apprised of war from Allah and His Apostle; and if you repent, then you shall have your capital; neither shall you deal unjustly, nor shall you be dealt with unjustly (279).
And if (the debtor) is in straitened circumstances, then let there be respite until (he is in) ease; and that you remit (it) as alms is better for you, if you knew (280). And fear the day in which you shall be returned to Allah; then every soul shall be paid back in full what it has earned, and they shall not be dealt with unjustly (281).
**GENERAL COMMENT ** These verses were revealed to emphasize the prohibition of interest and to put strong pressure on the interest takers; they are not the verses that originally legislated the prohibition of interest; their language is not that of legislation. The law forbidding interest was ordained most probably by the following verse of the third chapter 0 you who believe! do not devour interest, making it double and redouble, and fear Allah, that you may succeed (3:130).
Also look at one of the verses under discussion: “0 you who believe! fear Allah and forgo what remains (due) from interest, if you are believers”. It shows that the Muslims, even after the previous prohibition, sometimes took interest; and therefore Allah ordered them to desist from this practice and to remit that part of the interest which remained due from the debtors.