What is riba?
Posted: 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.
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.