For RIBA, see Royal Institute of British Architects.
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Riba (Arabic: ربا) – according to some, usury or excessive and exploitative charging of interest; while according to others, interest per se – is forbidden by the Qur'an. For example:
| “ | And that which you give in gift (loan) (to others), in order that it may increase (your wealth by expecting to get a better one in return) from other people’s property, has no increase with Allâh; but that which you give in Zakât (sadaqa - charity etc.) seeking Allâh’s Countenance, then those, they shall have manifold increase (Qur'an 30:39) | ” |
| “ | That they took riba (usury), though they were forbidden and that they devoured men’s substance wrongfully – We have prepared for those among men who reject faith a grievous punishment (Qur'an 4:161) | ” |
It is also forbidden in the The Farewell Sermon.
See also
External links
- Global Islamic Finance
- Toward Defining and Understanding Riba by Dr. Mohammad Omar Farooq
- Islamic Finance - A Primer.
- Exclusive on the subject of Riba (ar-Riba, usury, interest), answering Why Riba was prohibited? and The definition of Riba.
- Riba, Interest and Six Hadiths: Do We Have a Definition or a Conundrum? by Dr. Mohammad Omar Farooq
- The Riba-Interest Equation and Islam: Reexamination of the Traditional Arguments by Dr. Mohammad Omar Farooq
- Why does Islam prohibit interest (Riba)?
- Riba and Interest: Definitions and Implications.
- Interest is Halal?
- Interest vs Risk-Sharing in Business Partnerships
