Al-Baqarah 2:280

<h2>The Necessity of Taqwa and Avoiding Riba</h2><p>Allah commands His believing servants to fear Him and warns them against what would bring them closer to His anger and drive them away from His pleasure. Allah said,</p><p>يأَيُّهَا الَّذِينَ ءَامَنُواْ اتَّقُواْ اللَّهَ</p><p>(O you who believe! Have Taqwa of Allah) meaning, fear Him and remember that He is watching all that you do.</p><p>وَذَرُواْ مَا بَقِىَ مِنَ الرِّبَواْ</p><p>(And give up what remains of Riba) meaning, abandon the Riba that people still owe you upon hearing this warning,</p><p>إِن كُنتُم مُّؤْمِنِينَ</p><p>(if you indeed have been believers) believing in the trade that He allowed you and the prohibition of Riba. Zayd bin Aslam, Ibn Jurayj, Muqatil bin Hayyan and As-Suddi said that this Ayah was revealed about Bani `Amr bin `Umayr, a sub-tribe of Thaqif, and Bani Al-Mughirah, from the tribe of Bani Makhzum, between whom were outstanding transactions of Riba leftover from time of Jahiliyyah. When Islam came and both tribes became Muslims, Thaqif required Bani Al-Mughirah to pay the Riba of that transaction, but Bani Al-Mughirah said, "We do not pay Riba in Islam." `Attab bin Usayd, the Prophet's deputy on Makkah, wrote to the Messenger of Allah about this matter. This Ayah was then revealed …

And if the debtor is in straitened circumstances, then (let there be) postponement to (the time of) ease; and that ye remit the debt as almsgiving would be better for you if ye did but know.

If the debtor is in a difficulty, grant him time Till it is easy for him to repay. But if ye remit it by way of charity, that is best for you if ye only knew.

And if the debtor is in a hard time (has no money), then grant him time till it is easy for him to repay, but if you remit it by way of charity, that is better for you if you did but know.

But if he is in hardship, then deferment until a time of ease. But to remit it as charity is better for you, if you only knew.