Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download

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Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download

Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download. During the mid 1980s, I first researched the question of riba in our modern financial world. Somewhat instantly, I understood that the classical texts of fiqh do not use this
term in the same way that some modern financiers and their regulators sometimes apply it. More confusingly, I understood with clarity that the broad Muslim public did not have a clear idea of the term.

Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download

For years, English speaking Muslims were informed by an obscure footnote in the Yusuf Ali interpretation of the meaning of the Quran that riba only meant exorbitant interest or consumer interest, but not production interest. Elsewhere, Azharite scholars were determining that interest is simply a form of profit on a mudaraba. Some Muslims were of like mind with modern Jews and Christians who for the most part ignore the prohibition of interest in their own holy books. These and other questions led to my direct attack on the concept of riba and its many angles.

Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download

What does the Arabic language have to say? Hence, I went to a seven-hundredyear-old Arabic lexicon. How about the history of riba among the peoples of the book? For this answer, I am indebted to my old friend Mansour Al Mujahid. And the classical scholars, what has been their view? Here, I turned to a dear teacher, Sh. Wahba Al Zuhayli, and commissioned the translation of his seminal article on riba in his comprehensive compendium of Islamic law.

Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download

Through these elements of my research, it is clear that riba and interest are too often the same. Certainly, most banking transactions in the west are susceptible to riba. If that is the case, then why are we Muslims so confused? To secure this answer, I examined with my friend Emad H.Khalil’s help the history of interpretive chicanery, sometimes government instigated, that has taken place in a key center of Islamic learning. I also benefited from the insights of noted Pakistani economist M.Akram Khan to develop a related piece on the difficulties that his country has faced routing out interest.

Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download

Economists M.Umer Chapra and Mahmoud A.El-Gamal also provided useful economic analyses. In the end, riba can be diagnosed and financial relations may be had free from it— even in America! In this humble endeavor, I am hopeful, God willing, to have helped readers to understand how to identify riba and live free from it. I dedicate this work in loving memory of my dear friend Said Zafar who encouraged me in so many ways to fight riba and bring riba free choices to his adopted and my native North America.

Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download

Interest in Islamic Economics Understanding riba by Abdulkader Thomas pdf free download
 

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