Buy custom why interest is prohibited?
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| Topic: |
Religion
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| Number of pages / Number of words: |
21 / 5601 |
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As a result, there are unanswered questions in their mind. Why is interst considered to be Riba? What alternatives do Islam provide? If these questions can be answered with proper evidences, logic and facts, it will, Inshaa Allah, be an important first step towards Islamic banking.
In this article, I will try to answer the question in the title from an economic perspective as indicated in the title...
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Prior to answering the question, there is a need to explain few concepts. A person cannot agree to a statement that interest is Riba without knowing the meaning of interest and Riba?a pre-requisite for knowing the similarity. The term interest throughout this article is taken to mean only loan interest...
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