What is riba?

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transferedposts
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What is riba?

Post by transferedposts » Tue Mar 24, 2015 12:04 am

What is riba?

Interest on money

“Every loan in which it is stipulated that something extra must be paid back is haraam, with no difference of scholarly opinion.

Ibn al-Mundhir said: [the scholars] are unanimously agreed that if the muslim lender stipulates that the muslim borrower must pay extra or give him a gift, and he lends him money on that basis, then accepting the extra payment is riba.
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