Here’s Everything You Need To Know About Riba
Abstract
What is Riba? Although it changes depending on different situations, riba is usually defined as interest. Riba falls under haram or forbidden under Sharia law, as it leads to unjust and unequal wealth increases, particularly for the lender. Riba usually covers two concepts when it comes to sharia compliance. Riba Al Nasia The term translates to "Interest in delay." Extremely shunned by the Islamic culture, this applies when the lender places an additional amount on top of the original borrowed amount. Riba vs Profit There's a difference between riba and profit. How to Avoid Riba Here are a few ways to avoid riba and stay sharia compliant. We are proud to supply sharia-compliant financing options that are riba free.
