An extract from "The Importance of The Prohibition of Riba' in Islam" by Imran N. Hosein

Abu Huraira reported Allah's Messenger saw as saying: "Riba' has 70 parts, the least serious being equivalent to man marrying (ie having sex with) his own mother" - Sunan Ibn Majah

Riba: Any material gain or advantage which is derived through unjust means such as cheating, bribing, corrupt exploitation of influence or authority for unjust advantage, deception in trade, speculative transactions, living off the sweat of others etc.

Riba' sometimes takes the form of a system of legalized theft, as in banking system based on interest and usury, or as a monetory system based on non-redeemable artificial paper money.

Real money functions basically as a reliable store and measure of value and medium of exchange. When real money becomes a commodity which is traded eg when it is lent on interest, then the creditor lives off the sweat of the debtor. When real money is replaced with artificial substitute (eg paper money) which becomes a commodity traded in a market, then the rip-off becomes truly colossal. The currency market, as well as other markets, is skillfully manupulated for wealth to be sucked from the masses and to be concentrated in a predatory global elite...

Thus riba' constitutes various forms of economic exploitation & oppression made possible through corruption of thE free and fair market. Because of riba' a new sophisticated form of slavery has decended upon all mankind...

Saeed Butt and his wife, Muslims from Pakistan, lived in beautiful Nyack, Rockland, New York. After listening to a lecture on prohibition of riba' in Islam, they sold their house, paid off their mortage with the bank, and rented a tiny studio-apartment where they live now, free from debt and from riba'...

We all commit sins in life, but if we turn away with sincerity from sin, turn to Allah sincerely, and commit ourselves not to repeat the sin, He has assured us of forgiveness!