📄️ Quranic Verses on Riba
The practice of riba (usury or interest) has been a subject of significant ethical, economic, and religious debate across different cultures and societies. In the Islamic faith, riba is strictly prohibited due to its exploitative nature and the negative impact it can have on both individuals and society. The Quran, as the foundational text of Islam, contains several verses that provide warnings and guidelines concerning riba. While these verses come from a religious context, the underlying principles have relevance for individuals and societies beyond religious affiliations, especially in promoting economic justice and fairness.
📄️ Hadith on Riba
The Prophet ﷺ emphasized the severe consequences of engaging in riba (usury or interest) and its harmful effects on both the individual and society. Several hadiths give clear warnings about riba, describing it as one of the most destructive sins and a source of divine curse. Below are some key hadiths on riba with detailed explanations.
📄️ Scholarly Interpretations & Rulings
Islamic scholars have discussed and debated the concept of riba (usury or interest) extensively, with differing views on its application in various financial transactions. Below are the key interpretations and rulings of prominent scholars regarding riba, including the differences in opinion on its application to sales and debts.
📄️ Goodness & Bad Effects of Riba in Finance
The practice of riba (usury or interest) in financial transactions is a controversial topic across various cultures and belief systems. While some financial systems depend on riba-based transactions, the practice has profound effects on individuals and societies. This article explores the goodness of avoiding riba in finance and the negative consequences it can bring to both individual well-being and the economy at large.