AN INQUIRY OF THE RIBA AND COMPENSATING FOR THE REDUCTION OF THE PURCHASING POWER OF MONEY

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DAVOUDI P.; MOOSAI M.

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Title

AN INQUIRY OF THE RIBA AND COMPENSATING FOR THE REDUCTION OF THE PURCHASING POWER OF MONEY

Author(s)

DAVOUDI P. | MOOSAI M. | Issue Writer Certificate

Keywords

THE RIBAQ3

THE PURCHASING POWER OF MONEYQ4

THE REDUCTION OF MONEY VALUEQ2

INFLATIONQ4

Abstract

In this paper, a new definition of THE RIBA (usury) has been put forward. This definition should be both consistent with the aim and philosophy derived from the Islamic Scriptures as a nice philosophy of banning THE RIBA and with the changing economic conditions in new era and with the change in the nature of money along with its backing relative to the past. If THE RIBA is defined as any "extra payment" and being gotten in transactions, based on THE PURCHASING POWER OF MONEY, then, holding the \purchasing power of money constant through the course of time will be categorically outside its definition. Regarding the change in the nature of "new money", compared with "old money", four discussions should be presented as. follows: I. Compensating for the reduction of THE PURCHASING POWER OF MONEY in usance transactions is essentially and categorically outside the domain of the true definition of THE RIBA. IT. Since through the course of time and transforming from the past era to the present one, money converts to "value money", vatum, due to the change in its nature, this compensation is necessary. ITI. Choosing not to compensate is in violence to "No Oppression Rule". IV. The "rule of no injury" implies that in usance transactions, this compensation takes place.

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APA: Copy

DAVOUDI, P., & MOOSAI, M.. (2000). AN INQUIRY OF THE RIBA AND COMPENSATING FOR THE REDUCTION OF THE PURCHASING POWER OF MONEY. NAMEH-YE OLUM-E EJTEMAI, NEW(15), 165-188. SID. https://sid.ir/paper/2400/en

Vancouver: Copy

DAVOUDI P., MOOSAI M.. AN INQUIRY OF THE RIBA AND COMPENSATING FOR THE REDUCTION OF THE PURCHASING POWER OF MONEY. NAMEH-YE OLUM-E EJTEMAI[Internet]. 2000;NEW(15):165-188. Available from: https://sid.ir/paper/2400/en

IEEE: Copy

P. DAVOUDI, and M. MOOSAI, “AN INQUIRY OF THE RIBA AND COMPENSATING FOR THE REDUCTION OF THE PURCHASING POWER OF MONEY,” NAMEH-YE OLUM-E EJTEMAI, vol. NEW, no. 15, pp. 165–188, 2000, [Online]. Available: https://sid.ir/paper/2400/en

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