An Analysis of the Philosophy of Riba Prohibition with Emphasis on Outrageous Transfer of Risk

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ASGARI MOHAMMAD MAHDI; Eivazlou Hossain; SADEGHI SHAHEDANI MAHDI; Mousavi Borrodi Seyed Mahdi

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Journal: JOURNAL OF ISLAMIC ECONOMIC STUDIES Year:2021 | Volume:12 | Issue:1 (25) Page(s): 55-84

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Title

An Analysis of the Philosophy of Riba Prohibition with Emphasis on Outrageous Transfer of Risk

Author(s)

ASGARI MOHAMMAD MAHDI | Eivazlou Hossain | SADEGHI SHAHEDANI MAHDI | Mousavi Borrodi Seyed Mahdi | Issue Writer Certificate

Keywords

RibaQ1

riskQ2

philosophy of Riba prohibitionQ2

risk sharingQ2

outrageous risk transferQ1

Abstract

The concept of Riba is one of the concepts that has been the subject of a wide range of scholars throughout the history of the Islamic world, including commentators and jurists and recently Islamic economists. The prohibition of Riba is one of the few subjects that many Quranic verses have come to regard as a war with God and His Rasool. The present study aims to analyze the philosophy of the prohibition of Riba for the first time in a descriptive-analytic way, at first exploring some of the verses and examining the views of contemporary scholars on the nature of Riba and its philosophy of sanctification. Accordingly, one of the philosophies of prohibition of Riba, considering the transcendent nature of the Qur'anic teachings, can be the prevention of cruel transfer of risk and consequently the displacement of wealth resulting from cruelty by describing the mechanism of contracting based on the real sector of the economy against Riba.

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APA: Copy

ASGARI, MOHAMMAD MAHDI, Eivazlou, Hossain, SADEGHI SHAHEDANI, MAHDI, & Mousavi Borrodi, Seyed Mahdi. (2021). An Analysis of the Philosophy of Riba Prohibition with Emphasis on Outrageous Transfer of Risk. JOURNAL OF ISLAMIC ECONOMIC STUDIES, 13(1 (25) ), 55-84. SID. https://sid.ir/paper/390349/en

Vancouver: Copy

ASGARI MOHAMMAD MAHDI, Eivazlou Hossain, SADEGHI SHAHEDANI MAHDI, Mousavi Borrodi Seyed Mahdi. An Analysis of the Philosophy of Riba Prohibition with Emphasis on Outrageous Transfer of Risk. JOURNAL OF ISLAMIC ECONOMIC STUDIES[Internet]. 2021;13(1 (25) ):55-84. Available from: https://sid.ir/paper/390349/en

IEEE: Copy

MOHAMMAD MAHDI ASGARI, Hossain Eivazlou, MAHDI SADEGHI SHAHEDANI, and Seyed Mahdi Mousavi Borrodi, “An Analysis of the Philosophy of Riba Prohibition with Emphasis on Outrageous Transfer of Risk,” JOURNAL OF ISLAMIC ECONOMIC STUDIES, vol. 13, no. 1 (25) , pp. 55–84, 2021, [Online]. Available: https://sid.ir/paper/390349/en

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