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INTEREST RATES & RIBA: Is There a Difference?: An In-Depth Comparative Study - Softcover

Bouhadi, Soufiane

 
9786630433036: INTEREST RATES & RIBA: Is There a Difference?: An In-Depth Comparative Study

Inhaltsangabe

For a long time, no distinction was made between usury and interest-bearing loans; both were understood as the immoral abuse of a position of power. With the advent of capitalism-in which credit is one of the cornerstones and banking activity is based on interest-this distinction became essential. Interest is formally prohibited in banking transactions under Islamic law for reasons of equality and justice between the contracting parties. However, according to certain schools of thought, what is prohibited in Islam is usury, not interest, arguing that interest is not necessarily usury and that the criterion distinguishing usury from interest-bearing loans is the rate of interest. The objective of our research is to analyze and explore the relationship between the interest rate and riba and to understand the source of this controversy. To this end, we will attempt to answer a major and fundamental question: What is the relationship between the interest rate and riba, and to what extent can modern bank interest be considered usurious interest?

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Über die Autorin bzw. den Autor

Soufiane BOUHADI, Führungskraft im islamischen Bankwesen und Forscher im Bereich islamische Finanzen. Er verfügt über einen Master-Abschluss in Bankwesen, Versicherung und partizipativer Finanzwirtschaft, einen Grundstudienabschluss in Betriebswirtschaftslehre sowie ein Diplom der allgemeinen Hochschulstudien in Wirtschaftswissenschaften und Betriebswirtschaft. Er hat mehrere wissenschaftliche Publikationen zum Thema islamische Finanzen verfasst.

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