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Stipulation of Excess in Understanding and Misunderstanding Riba: The Al-Jassas Link


Mohammad Omar Farooq


Independent

2007

Arab Law Quarterly, Vol. 21, pp. 285-316, 2007

Abstract:     
An essential condition in the orthodox definition of riba is stipulated excess in a loan or debt. This essential condition is traced to al-Jassas. Understanding this issue of stipulated excess is critical to understanding riba. In this paper the stipulated excess in connection with al-Jassas as well as its implication for defining riba and prohibition of interest is examined. A critical examination of the subject shows that pre-Jassas discourse about riba did not include stipulated excess as an essential condition and al-Jassas’ changing of the conditions in defining riba is not corroborated by the textual evidences he used.

Number of Pages in PDF File: 32

Keywords: riba, interest, usury, al-Jassas, Islamic finance, Islamic banking, Islamic economics, Qarḍ Hasan, Qard al-Hasana

JEL Classification: B19, B59, E49, Z12

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Date posted: June 4, 2009  

Suggested Citation

Farooq, Mohammad Omar, Stipulation of Excess in Understanding and Misunderstanding Riba: The Al-Jassas Link (2007). Arab Law Quarterly, Vol. 21, pp. 285-316, 2007. Available at SSRN: http://ssrn.com/abstract=1412753

Contact Information

Mohammad Omar Farooq (Contact Author)
Independent ( email )
No Address Available
United States
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