Ribā and Divine Laws – Does SharīᶜAh (Islamic Law) has the Same Approach?: An Analytical Legal Study

Abstract

Islam is the same religion that had been revealed to, preached and followed by Adam, Noah, Abraham, Moses, Jesus and all other prophets of God(As). Prophet Muhammad (Peace be upon him) was the final link in the chain of divine messengers. Islam, therefore, is the continuity of divine guidance since the beginning of human history on earth, not a new religion founded by Prophet Muhammad (Peace be upon him) in the seventh century. Divine religions are designed by a cosmic view of the world and there is no distinction between spiritual and worldly life in human destiny. The divine paradigm of economic relations consistent laws and commandments which are extracted from revealed teachings called sharīᶜah. The sharīᶜahrequires rules related to both production as well as consumption of resources, the working of market trends, and the distribution of earnings. The primary concern of this article is what divine Scriptureguide about Ribā/usury, and the change of attitudes toward Ribā from biblical times to the present, along this article sheds light on adverse effects of Ribāupon society in history.