Another term used for borrowing goo

Another term used for borrowing goods is ‘A¯ riyah, which means to give any commodity
to another for use without taking any return. In this sense, it is also a virtuous act like Qard.
The borrowed commodity is treated as a liability of the borrower, who is bound to return it
to its owner. In the address of the last pilgrimage, the holy Prophet (pbuh) said: “al ‘A¯ riyah
has to be returned, a surety must make good the loss on behalf of the assured and the debts
payable must be paid”.6
The difference between Qard and ‘A¯ riyah is that in the latter, exactly the borrowed
commodity has to be returned while in Qard, the similar of the loaned commodity has to be
paid by the debtor. In order to prepare for Ghazwa-e-Hunain, some time after the conquest of
Makkah, the holy Prophet (pbuh) took as ‘A¯ riyah a number of camels and iron breast-plates
from Safwan bin Umayyah. The holy Prophet (pbuh) assured him that ‘A¯ riyah would be
paid back in full. While giving back, some of the plates were found to be missing. The holy
Prophet asked him how he could compensate him. But Safwan, who had converted to Islam,
waived the loss.7
The English word “loan” seems to be the counterpart of the word Qard and “debt” that
of Dayn. The loans/advances given by the present banking system are covered under any
of these two categories. In Murabaha operations by IFIs, goods are sold and Duyun/debts
are created, which ought to be returned without any profit over the amount of debt, as all
conditions relating to Dayn would be applicable to them.