interest charge or unfair profit in Islamic financing, interest or any unjust profit made by a lender in a financial transaction. It is one of three prohibitions in Islamic law, the others being gharar and maysir.
This checklist describes Islamic profit sharing, leasing, equity sharing, and asset trading alternatives to riba (interest) including musharakah, mudarabah, murabahah, salam, and ijarah.
Objections relating to the insurance contract itself are those of riba (usury), gharar (uncertainty), and maysir (gambling). The other objections relating to market practice are usually concerned with two issues: The first is that insurance companies’ investment policies are generally interest
By Suzanne White
All modes are based on the principle of riba (interest) prohibition, and all seek to maintain Islamic business ethics (freedom and leniency of transactions, recognition of and regard for private property, and justice).
By Abdel-Rahman Yousri Ahmad
For the layman, the fundamental difference between Islamic finance and conventional finance is the feature in the latter to put a cost on money in financial transactions, i.e. interest, or riba as it is known in the Islamic financial world. Basically, whatever is borrowed has to be returned
By Bilal Rasul
Definitions of ’riba’ and meaning of ’riba’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’riba’ and other financial terms with our online QFINANCE Financial Dictionary.