My Blog

< Watch on Youtube >

This reaction video offers an Islamic analysis of a discussion between Christian and Jewish theologians and scholars about the biblical prohibition of interest (usury). As these scholars grapple with the concept of interest in modern economics, the video presents an Islamic perspective on their interpretations and misunderstandings.

Key points covered:

- The Biblical prohibition of interest / usury
- Jewish and Christian scholars' attempts to reconcile Biblical teachings with modern economy
- Jordan Peterson's struggle to understand the wisdom behind the interest ban
- Common misconceptions about interest or usury
- The Islamic view on interest-based economics and its potential societal impacts
- A critical examination of the Christian and Jewish arguments
- Wisdom of religious teachings on finance in our current economic system

This video unpacks the complexities of interest or usury and its implications for our modern world, offering viewers a unique...

< YouTube link >

In this video, we address the common misconceptions about Riba (interest), which is often mistakenly thought to be solely about exploitation, financial outcomes, or unrelated to modern banking practices. In reality, Riba fundamentally involves any excess in specific transactions. We'll delve into key narrations to clarify these misunderstandings and distinguish between legitimate and illegitimate profit in Islam.

Is Exploitation the Reason for the Prohibition of Riba?

Some argue that riba (interest) is only prohibited because it exploits others, suggesting that small amounts of riba could be acceptable. This mirrors what Christians did: claiming large amounts of riba (which they call usury) are haram due to exploitation, but small amounts (called interest) are halal.

So let's make this clear—whether it's a small or large amount, exploitation or not, all riba is haram. Why? To prevent any possibility of injustice and exploitation. By adding the condition...

< YouTube link >

In this video, we talk about Riba (interest/usury) and how to spot it in everyday transactions.

Using a common example of buying a car, we illustrate how one transaction can be done as permissible trade, while another can entail Riba from a loan or money-for-money arrangement. This can be hard to spot if you're not familiar with it, but by the end of this video, you'll be able to recognise Riba confidently, insha'Allah.  

Learn More and Support Our Work!

To learn more about Islamic finance and economy and to support MMM in producing future financial literacy videos like this, consider becoming a member of our Muslim Money Matters platform.

Join us at www.muslimmoneymatters.com

Dive into Riba, learn about its history and impact.

> Download Slides in PDF <

In this video, we explore the subject of riba (interest, usury), its prohibition, and historical context. We also analyse common Riba situations and compare Islamic vs conventional finance.

Topics
0:00 Introduction
0:38 Meaning of Riba
2:16 Prohibition of Riba
3:54 Simple Ribawi Transactions
6:36 Parties Involved in Riba Transactions
8:51 Riba in Previous Nations
9:12 The Bible on Riba (Ribit)
12:17 The Merchant of Venice Story
14:07 Shylock "Sammy the Bull"
15:49 Wisdom Behind the Prohibition of Riba
17:16 Programming of Riba
17:46 The Fall of the Ottoman Empire
20:49 Types of Riba
24:28 Rules for Riba
27:59 Examples of Riba
38:03 Conventional vs. Islamic Finance
44:07 Basic Modes of Finance

Watch on YouTube > click here

Other suggested videos:

Turkiye's Economy: The Untold Story (full documentary)
youtu.be/UyPIrbxFu88?si=ck9DX5RviAHl2khb

Wisdom behind Prohibition of Riba (interest)...