Abstract

http://ssrn.com/abstract=1938373
 


 



The Concept of Riba in Islamic Banking Law: An Introduction


Chetan Phull


affiliation not provided to SSRN

October 4, 2011

Journal of International Banking Law & Regulation, Vol. 26, Issue 10, pp. 405-411, 2011

Abstract:     
This article provides a short overview of "riba", the principal feature of Islamic banking law. Riba refers to certain prohibitions against charging and paying interest on loans and prohibitions against certain other transactions to protect debtors. Sources of Islamic law are reviewed to explain the concept of riba, and rationales for the proscriptions against riba are surveyed. Modern investment principles and loans based in sharia law are also briefly discussed.

Number of Pages in PDF File: 9

Keywords: Banking; Financial instruments; Interest; Islamic finance; Islamic law; Sharia

JEL Classification: E43, E49, E51, E59, F30, F34, F39, G29, K12, K19, K29, K39

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Date posted: October 6, 2011 ; Last revised: December 20, 2012

Suggested Citation

Phull, Chetan, The Concept of Riba in Islamic Banking Law: An Introduction (October 4, 2011). Journal of International Banking Law & Regulation, Vol. 26, Issue 10, pp. 405-411, 2011. Available at SSRN: http://ssrn.com/abstract=1938373

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Chetan Phull (Contact Author)
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