“Either settle the debt or pay interest.” The creditor would prolong the term, and in return the debtor would agree to an additional charge; they would repeat this process time after time until the debts piled up. Concerning this, the Almighty says: “O you who believe, do not consume interest, doubled and multiplied; and fear Allah so that you may prosper.” (Āl ʿImrān 3:130)

The harms of ribā
1 – It kills compassion: the usurer does not hesitate to strip the debtor of his possessions. Hence Islam regards ribā as a grave economic wrong, for it contradicts the faith’s call to mutual assistance.
2 – Ribā breeds enmity and hatred among individuals; it sows discord and leads to estrangement and social strife.
3 – By forbidding ribā, Islam aims to secure equity within the community: the wealthy should be content with their principal, while the poor keep the fruit of their labor, effort, and hardship. Otherwise the rich drain the sweat of the poor and add it to their riches; money then seeps from the hands of the needy and working classes into the coffers of a small elite, inflating their fortunes at the expense of hard-pressed laborers. It is an unlawful avenue to wealth that sparks enmity, stirs disputes, and brings calamities upon society.
4 – Ribā draws people into ventures whose consequences they cannot bear—sometimes at the cost of the usurer’s own life.

The injuries caused by ribā are countless. Suffice it to know that Allah forbids nothing unless it is purely harmful and corruptive, or its harm outweighs its benefit. We ask Allah for protection.