69 million page views

Interest in modern financial markets is not riba

Reader comment on item: Islamic Economics: What Does It Mean?
in response to reader comment: Our dear Bob Hannah: Islam and al-Riba means Interest!

Submitted by Bof Hannah (Canada), Jan 12, 2020 at 23:22

Dr. Farooq in this reference lists many scholars who do not agree with the interest=riba assertion. https://www.transnational-dispute-management.com/article.asp?key=1063 Actually there are a whole series of modernist scholars, an earlier one was Muhhammad Abduh - Egypt - who were rethinking the meaning of riba in the modern context. Mufti Tantawi at Al-Azhar University is another. Dr. Fazlur Rahman Malik, who I reference, was director of the Institute for Islamic Research in Pakistan before he was run out of the country by Maududi-ist fundamentalists on charges of apostasy (you know what that means). He founded Islamic studies departments at McGill and the University of Chicago, two of the best universities in North America. Abdullah Saeed carries on with the modernist contextual approach at the University of Melbourne. It is easy to claim consensus that interest=riba when you ignore those who disagree with you!

Submitting....

Note: Opinions expressed in comments are those of the authors alone and not necessarily those of Daniel Pipes. Original writing only, please. Comments are screened and in some cases edited before posting. Reasoned disagreement is welcome but not comments that are scurrilous, off-topic, commercial, disparaging religions, or otherwise inappropriate. For complete regulations, see the "Guidelines for Reader Comments".

Comment on this item

Mark my comment as a response to Interest in modern financial markets is not riba by Bof Hannah

Email me if someone replies to my comment

Note: Opinions expressed in comments are those of the authors alone and not necessarily those of Daniel Pipes. Original writing only, please. Comments are screened and in some cases edited before posting. Reasoned disagreement is welcome but not comments that are scurrilous, off-topic, commercial, disparaging religions, or otherwise inappropriate. For complete regulations, see the "Guidelines for Reader Comments".

See recent outstanding comments.

Follow Daniel Pipes

Facebook   Twitter   RSS   Join Mailing List
eXTReMe Tracker

All materials by Daniel Pipes on this site: © 1968-2021 Daniel Pipes. daniel.pipes@gmail.com and @DanielPipes

Support Daniel Pipes' work with a tax-deductible donation to the Middle East Forum.Daniel J. Pipes

(The MEF is a publicly supported, nonprofit organization under section 501(c)3 of the Internal Revenue Code.

Contributions are tax deductible to the full extent allowed by law. Tax-ID 23-774-9796, approved Apr. 27, 1998.

For more information, view our IRS letter of determination.)