Tag: Finances

Theories and Practices of Islamic Finance and Exchange Laws: Poverty of Interest

While Islamic scriptures clearly prohibit profiting from the poor, supposedly sharī’ah-compliant Islamic financial and exchange laws circumvent prohibitions and limitations on ribā, monopolism, debt, and risk while failing to address the fundamental purpose behind the prohibitions — mitigating poverty. This study provides a historical survey of the principles that shape Islamic finance and exchange laws, […]