Title: Islam’s Perspective on Usury: An Ethical Alternative for Financial Transactions Usury has long been a controversial practice, with its detrimental effects on individuals and societies becoming increasingly evident. Often associated with the lending of money at exorbitant interest rates, usury has been condemned by many ethical and religious frameworks. In the context of Islam, usury, known as “riba,” is explicitly prohibited, and an alternative approach to financial transactions is offered. Islam provides a comprehensive framework for economic and financial matters, guided by principles of fairness, justice, and compassion. Instead of engaging in usury, Islamic finance promotes a system based … Continue reading Usury refers to the act of lending money at an exorbitantly high rate of interest? What does Islam offer in place of usury?