Is Pakistan poor because of Riba?

Question:
If you buy something through installment from a bank and you give back the money with interest, is it Haram? And if it is, is it Haram on both sides? A religious scholar gives very strong arguments on Riba, He says that countries like Pakistan are poor because of Riba?

Response:
When a lender asks a borrower to pay, under all circumstances, more than the principal (the real value) he lent, it is riba and Haram. However, it is condemnable when taken; the one who gives is not in the same category. He should avoid it too, but the level of expectation from him is not the same.

Pakistan is not progressing because of many reasons. We are not sincere to God nor to each other. Our religious people are biased and extremists. Their behaviour doesn't impress the rest of the people because they constantly disagree and fight with each other. That's a part of the problem. The rest of the population isn't doing any better.

We can only progress if we are morally upright as a nation, working hard and sincerely, using our intellect and the resources at our disposal to the best of our abilities. To blame our lack of our progress on Riba is an exaggeration. Of course, we must get rid of riba as well.

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