Interest (Riba)
Apr 28, 2021
- Among the most unacceptable business practices strongly condemned in Islam is Riba. (interest),
- This is the extra sum the money lender charges from the borrower for deferred payment. Islam forbids all forms of Riba since it involves both oppression and exploitation.
- The Qur’an says: “Allah has permitted trading and forbidden Riba (usury). (Quran 2:275)
- “…. do not consume usury, doubled and multiplied, but fear Allah that you may be successful. ” (Quran 3:130)
