The nature of Riba and rationale of prohibition : the first interest free bank
Fatawa Question
Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh, Dear scholar, recently we found in a local book written by a historian, that the Prophet (PBUH) founded the world's first interest free bank. As far as we know, though interest was declared Haram, there was no formal banking system at Prophet's (PBUH) time. Will you please enlighten us as to the exact status of this issue at that time. With best regards. Allah Hafiz. Jazakum Allahu Khairan for your constant help
Fatwa
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Publication Date
2006-08-06
Main Subjects
Economics & Business Administration
Islamic Studies
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-790196
American Psychological Association (APA)
Qahf, Mundhir. 2006-08-06. The nature of Riba and rationale of prohibition : the first interest free bank. .
https://search.emarefa.net/detail/BIM-790196
Modern Language Association (MLA)
Qahf, Mundhir. The nature of Riba and rationale of prohibition : the first interest free bank. 2006-08-06.
https://search.emarefa.net/detail/BIM-790196
American Medical Association (AMA)
Qahf, Mundhir. 2006-08-06. The nature of Riba and rationale of prohibition : the first interest free bank.
https://search.emarefa.net/detail/BIM-790196
