Charity spreads mercy and love...
Charity spreads mercy and love, strengthens the morale of the poor members of society, increases wealth, maintains good social order, and then as a result of mutual love and respect, peace reigns over the land. The evils resulting from interest are exactly opposite to these good effects. Allah has, in these verses, condemned interest in the most emphatic words. No other deed has been condemned in such a harsh tone.
The only exception is befriending the enemies of religion, which also has been execrated with equal force. All other major sins have been condemned emphatically in the Qur’an, but the level of their condemnation is far below that used for these two evils. Not only fornication, liquor and gambling, but even more grievous sins like murder and creating mischief in the earth seem milder than these two - interest and making friends with the enemies of religion. Why? The reason is very clear.
The bad effects of the above-mentioned sins remain mostly confined to individuals, one or more; further, they impair only some particular psychological traits of the doer. But these two evils bring such destruction in their wake that religion is uprooted and even its signs are obliterated; the life-line of human social order is severed; human nature is overpowered by their harmful intoxication, and it loses all its control over the people’s thinking and action.
History has shown why the Qur’an had spoken so forcefully against befriending the enemies of religion and against interest. Look at the pitiable condition of the Muslim countries. They started adulating the enemies of Islam, making friends with them and adoring them. They inclined psychologically towards them.
And now we see the result: they have fallen down into the pit of perdition; they are plundered and pillaged by the same “beloved” enemies; they have no control over their own destiny; they have lost their wealth, their honor and even their identity; they deserve neither death nor life; they are not allowed to die, and they are not given any breathing space to enjoy the bounties of life. Religion has departed from there, and virtue abandoned them long ago.
As for interest, it caused the treasures of the earth to be concentrated in few select houses, and the wealth to be hoarded by the takers of interest. The money gave them power over other less fortunate human beings. It was the real cause of the world wars.