Islam Hashtag - Interest

Riba, Why is Interest Haram in Islam?

Post published:June 4, 2023
Post category:Islamic finance

Why is Interest Haram in Islam? Interest (Riba) is considered haram (forbidden) in Islam, as it goes against the fundamental principles of fairness, justice, and social welfare that are deeply ingrained in the Islamic economic system. Books on Islamic banking The Definition of Interest (Riba) Interest, or Riba, is defined as the predetermined excess payment received by a lender over and above the principal amount of a loan, without…

What is Riba and the two types of Riba?

Post published:May 28, 2022
Post category:Essential of deen Islamic Reflection .

The word "Riba" means excess, increase or addition. According to Shariah terminology, it implies any excess compensation without due consideration RIBA IN THE QURAN First Revelation (Surah al-Rum, verse 39)“That which you give as interest to increase the peoples' wealth increases not with God; but that which you give in charity, seeking the goodwill of God, multiplies manifold.” (30: 39)Second Revelation (Surah al-Nisa', verse 161)“And for their taking interest…

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