Indexation and the prohibition of Riba : inflation, indexation and Riba
Fatawa Question
Assalamou Aleikoum Wa Rahmatullah Wa Barkatouh. Bismillah Arrahman Arrahim. As far as I understand, Riba or usury is forbidden, except in the cases you mentioned several items when talking about the specific Fatwa of the European Council. But what does usury mean really ? If tomorrow I put some money on an Islamic bank account, what should I get when I need it in 12 months for example ? Is it allowed to take into account the fact that money value changes with time (to be linked with the purchasing power), would a compensation in cash be considered as Riba and though forbidden ? Jazakoumoullah Wa Khairan
Fatwa
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Publication Date
2003-02-24
Main Subjects
Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies
Topics
- Islamic jurisprudence
- Islamic economics
- Financial transactions
- Inflation(Finance)
- Profits
- Loans
- Analogy(Islamic jurisprudence)
- Compensation(Law)
- Bank deposits
- Usury
- Purchasing power
- Islamic Banks
No. of Pages
2
Data Type
Fatawa
Language
English
Record ID
BIM-724112
American Psychological Association (APA)
Qahf, Mundhir. 2003-02-24. Indexation and the prohibition of Riba : inflation, indexation and Riba. .
https://search.emarefa.net/detail/BIM-724112
Modern Language Association (MLA)
Qahf, Mundhir. Indexation and the prohibition of Riba : inflation, indexation and Riba. 2003-02-24.
https://search.emarefa.net/detail/BIM-724112
American Medical Association (AMA)
Qahf, Mundhir. 2003-02-24. Indexation and the prohibition of Riba : inflation, indexation and Riba.
https://search.emarefa.net/detail/BIM-724112