The Concept of Riba and Islamic Banking


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Riba or interest is the most important issue of Islamic law in the modern world. There is unanimous agreement among Muslim jurists that riba is prohibited strictly by the texts of the Qur’an as well as by those of the Sunnah. When it comes to the identification of the transactions that would fall under the prohibition of riba, however, there is some disagreement among the scholars. In modern times, the discussion is mostly about interest charged and paid by the banks. Some scholars uphold that all kinds of interest charged by the bank are prohibited, while others maintain that only some kinds are prohibited. This book analyses the issue in the light of the writings of the early jurists and presents the operation of the rules of riba in a simplified manner.

Weight 0.65 kg
Dimensions 22.6 × 15.3 cm
Weight 0.65 kg
Dimensions 22.6 × 15.3 cm
Page Count

192 pages


Imran Ahsan Khan Nyazee


The Other Press Sdn Bhd