What is Wrong with Islamic Economics?

What is Wrong with Islamic Economics?

Analysing the Present State and Future Agenda

Studies in Islamic Finance, Accounting and Governance series

Muhammad Akram Khan

What is Wrong with Islamic Economics? takes an objective look at the state of the art in Islamic economics and finance. It analyses reasons for perceived stagnation and also suggests a way forward.

Chapter 9: Prohibition of riba in the primary sources of Islam

Muhammad Akram Khan

Subjects: asian studies, asian economics, economics and finance, asian economics, financial economics and regulation, islamic economics and finance, money and banking


Without going into the technicalities of law we can say in everyday parlance that the Qur’an uses the term ‘riba’ for interest on loans. In this chapter we shall summarize the message of the Qur’an relating to the prohibition of interest on loans. We shall also present a summary view of various Traditions (ahadith) of the Prophet on the subject.

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