WHAT IS RIBA?
Riba literally means
expansion or growth.
increase,
addition,
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POSITION OF ISLAM ON
TIME VALUE OF MONEY
The prohibition of interest in Islam is not because
Islam denial the recognition of time value of money
since time value of money has been recognized in
Murabahah sells.
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1ST STAGES
THE QURAN DIFFERENTIATE
BETWEEN RIBA AND CHARITY
The first verse revealed on riba in Mecca (al-Rum,
30:39), emphasized that :
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(AL-RUM- 30:39)
And that which you give in gift (to others), in
other that it may increase (your wealth by
expecting to get a better one in return) from
other peoples property, has no increase with
Allah; but that which you give in Zakat seeking
Allahs Countenance, then those they shall have
manifold increase. (al-Rum, 30:39)
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2ND STAGES
DISAPPROVAL OF RIBA AND SEVER PUNISHMENT
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That they took riba (usury), though they were
forbidden and that they devoured mens substance
wrongfully We have prepared for those among men
who reject faith a grievous punishment.
(Sura An Nisa 4:161).
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3RD STAGES
WARN THE MUSLIM FROM DEALING
WITH RIBA
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4TH STAGES
TOTAL PROHIBITION OF RIBA
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)(2:275-279
) (275
) (276
) (277
) (278
)(279
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AL-BAQARA (2:275-279)
Those who devour usury will not stand
except as stand one whom the Evil one by
his touch Hath driven to madness. That is
because they say: "Trade is like usury,"
but Allah hath permitted trade and
forbidden usury. Those who after
receiving direction from their Lord, desist,
shall be pardoned for the past; their case is
for Allah (to judge); but those who repeat
(The offence) are companions of the Fire:
They will abide therein (for ever).
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Riba al-Fadl.
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2. RIBA AL-FADL
Riba al-Fadl
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