Written by: Monzer: Lariba Investments
On may 28, 1997, a representative of a South Eastern Afro- American Church Coalition that was trying to set up “ a church Islamic Bank” wrote me his second letter: “I am pleased that my Abrahamic brother sees rightness in encouraging and helping the Christian world to join in interest free economics.” Freeing a society, in its entirety, from interest requires more than an intent, it needs a rule of law that works on eliminating usury from every aspect of business, financial transactions and exchange contracts. This is exactly what the Islamic Shari’ah did. That is why you find futile any attempt to convince the Muslim communities and societies, to “tolerate” certain kinds or rates of interest in any form, as you’ll find all areas and articles of the Islamic business laws extra sensitive to any presence or a “trace” of interest. The reason for all that is the clarity and strength of the Qur’an on the prohibition of Riba. The story tellers goes on to say, to the extent that a great founder of Islamic law such as the Companion Ibn Abbas thought that Riba only means “interest “ as we define it today. He said: No Riba exists except through a time span of indebtedness.
 Riba as Described in Qur'an | [ ] | 262 Kb |
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