Prohibition of Riba and its rationale : is the prohibition of Riba based on exploitation ?
Fatawa Question
I have heard from many sheikhs that interest rates are Haram, but no one ever gave me a convincing reason why this is so. According to my humble knowledge, all Ayat in the Holy Qur'an that mention the subject of Riba talk about exploitation and do not mention anything about fixed interest rates. I would really appreciate it of you provide me with a detailed Fatwa or references I can read about the issue. I have a BA in economics and I do understand economic terms very well. My second question is about whether insurance is Haram or Halal.
Fatwa
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Publication Date
2002-03-02
Main Subjects
Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
3
Data Type
Fatawa
Language
English
Record ID
BIM-725628
American Psychological Association (APA)
Qahf, Mundhir. 2002-03-02. Prohibition of Riba and its rationale : is the prohibition of Riba based on exploitation ?. .
https://search.emarefa.net/detail/BIM-725628
Modern Language Association (MLA)
Qahf, Mundhir. Prohibition of Riba and its rationale : is the prohibition of Riba based on exploitation ?. 2002-03-02.
https://search.emarefa.net/detail/BIM-725628
American Medical Association (AMA)
Qahf, Mundhir. 2002-03-02. Prohibition of Riba and its rationale : is the prohibition of Riba based on exploitation ?.
https://search.emarefa.net/detail/BIM-725628
