Islam definitely does NOT allow interest. I don't see what the point of the question is !!!

What you should ask is "Do you think it's OK to ignore a directive from Allah that He has plainly stated in the Quran?"

Just because other people do it DOES NOT make it acceptable !!

Salaam,

Bottomline is that giving or receiving interest is HARAM and not allowed in Islam, but still we all do it.  Especially living in a Western society, sometimes its very hard to get away from.  We all have to try our best to stay away from this evil.  Look at the world today, the greed of interest has ruined the world economy, banks are the worst for this.  Not many people see it like this, but its true.  Allah (swt) has shown us clear cut, yet we still continue.

I looked into the Islamic Mortgage, but to be honest its not fully islamic, just the best thing what they can do in a western economy.  So I suppose if one does take out an islamic mortgage then you are closer to doing good, rather than a conventional mortgage, Allah (swt) Knows best.

All I can say is try your best to stay away from Interest as much as you can, as it is very clear that in Islam it is not allowed.  If one has a mortgage, and can afford to pay extra payments each month, then do so and try to finish the loan soon as possible.

I have family in Pakistan who live off the interest and when I tell then these things, they just fob it off and that's meant to be an Islamic country LOL.

I actually saw an advert on ARY, where there was 3 customers each bragging how much interest they got on their accounts, and then a Pakistani came in and said I get 8%, and that was a Pakistani Bank, LOL, what can one say to that.  May Allah guide them and all of us on the straight path of the Quran and the Sunnah, Inshallah (Ameen)

ALL MUSLIMS should try as hard as they can to stay away from INTEREST from paying and receiving you are supporting a system which is against teachings of Islam. it is like your are eating pigs. Astagfarrullah may Allah grant us forgiveness

well interest free is fine from an Islamic point of view but you must remember that nothing is FREE in this world and least of all a LOAN. Usually they will offer interest free on items where they have raised the price or reduced the quality of the product or the number of accessories and add-ons that usually get supplied with the product.

The other case is when a Credit company will offer to front the loan so that they can collect the details of customers who obviously have difficulties with money and are likely to respond favorably to their endless streams of offers of loans and credit cards and other credit facilities.
Aside from that, Interest Free is FINE !!

Praise be to Allaah. 
Riba is forbidden according to the Qur’aan and Sunnah, and definitive scholarly consensus. Whoever regards it as permissible is a kaafir, because the basic principle is that whoever rejects something on which there is obvious scholarly consensus is guilty of kufr.

Shaykh al-Islam Ibn Taymiyah (may Allaah have mercy on him) said:

The belief that the well-known obligations are obligatory and that the well-known prohibitions are forbidden is one of the most important basic principles of faith, and the one who rejects that is a kaafir according to scholarly consensus.

Majmoo’ al-Fataawa, 12/497.

Ibn Qudaamah (may Allaah have mercy on him) said:

Whoever believes that something is permissible when there is consensus that it is forbidden and the ruling thereon is well known among the Muslims and the texts leave no room for doubt concerning it – such as pig meat, adultery and the like, concerning which there is no difference of scholarly opinion – is guilty of kufr.

Al-Mughni, 12/276

Al-Nawawi (may Allaah have mercy on him) said:

But nowadays Islam has spread and the knowledge that zakaah is obligatory is well known to the elite and commoners alike; the scholar and the ignorant are both aware of it. So no one has any excuse for misinterpreting (the texts) and denying it. The same applies to everyone who denies any matter of religion on which the ummah is agreed, if knowledge of it is widespread, such as the five daily prayers, fasting the month of Ramadaan, doing ghusl to cleanse oneself of janaabah (impurity following sexual activity), the prohibition on adultery, alcohol and marrying mahrams, and other rulings, unless he is new in Islam and does not know its rulings, in which case if he denies something out of ignorance he is not guilty of kufr… But with regard to matters on which there is consensus but which may only be known by those with specialized knowledge, such as the prohibition on being married to a woman and her paternal aunt or maternal aunt at the same time, or that the one who kills with intent cannot inherit (from his victim), or that the grandmother is entitled to one-sixth (of the estate), and other such rulings, then whoever denies them is not guilty of kufr, rather he is to be excused because knowledge of these things is not widespread among the common folk. 

Shaykh Ibn ‘Uthaymeen (may Allaah have mercy on him) said: The ruling on riba is that it is haraam according to the Qur’aan and Sunnah and scholarly consensus. It is classified as one of the major sins, because Allaah says (interpretation of the meaning):

“but whoever returns (to Ribaa), such are the dwellers of the Fire — they will abide therein”

[al-Baqarah 2:275]

“And if you do not do it, then take a notice of war from Allaah and His Messenger”

[al-Baqarah 2:279]

and because the Messenger of Allaah (peace and blessings of Allaah be upon him) cursed the one who consumes riba, the one who pays it, the two who witness it and the one who writes it down. So it is a major sin.

There is scholarly consensus that it is forbidden, hence whoever denies that it is forbidden although he lives in a Muslim environment is an apostate, because this is one of the obviously forbidden things on which there is consensus.

What a shame that you either didn't  read the post or you read it and completely misunderstood it.

Let me just make a few things clear for the benefit of everyone.

1. I did not call anybody a Kaafir and never would.

2. Nobody has labelled 50-90% of the Muslim ummah as kaafir. Where did you get this notion from?

If Allah has forbidden something it is not for us to make it permissible. If those that do are labelled kaafir who are we to object or feel that this is too strong. How can this be toned down.

What is worse than going against the command of Allah.

If somebody said to you that the prayer is not an obligation in Islam and it is an optional act would you say that we should not tell him that their statement is one of kufr  or should we just leave them to it.

It amazes me that people just tend to make up the religion, rather than follow the proofs and evidences, but still have the audacity to criticise those who follow the way of our beloved Prophet PBUH,

Brother if you read again nobody has thrown anybody out of the fold.

I agree most of the world indulges in interest but that does not make it right. Most people do it with the knowledge that it is haraam, these are not the people in the above post being referred to as kaafirs.

I think you may be confused. It clearly states that one that believes and declares that it is permissable despite Allah clealry stating otherwise is kaafir.

This is different to one who indulges in it following an incorrect opinion of somebody that allows it. I am sure you can see the difference.

What would you say to somebody who denies that there is only one Allah and that Muhammad PBUH is his final messenger?

How would you tone down calling somebody who denies the very testament of faith other than what his open negation of this testimony would make him.

I hope you can see that they were not referring to specific individuals but those who have deluded
opinions in opposition to what Allah has stated.

Peace.