Interest (Riba)

  • 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)