Islamic Banking & Riba
A plain-language explanation by Muhammad Rizwan Zubair of the Quranic definition of Riba (interest, usury) and a review of the main Islamic banking products — Murabaha, Ijara and Diminishing Musharaka — for the ordinary account holder and borrower, with references from the Quran, the Hadith and the books of fiqh. Available in Urdu and English, with short video clips.
اسلامی بینکاری اور ربا: قرآن کی روشنی میں ایک سادہ جائزہ۔
The complete article in Urdu: what the Quran and the Hadith mean by Riba, why a fixed return on a loan is Riba, how Murabaha, Ijara and Diminishing Musharaka work in practice in Islamic banks, and how they compare with conventional bank loans. Read the Urdu version →
The English version, in nine sections:
Introduction
The Definition of Riba — al-Baqarah 2:275–280, Sahih Muslim, Ibn Majah and Ibn al-Athir’s Nihayah
An Alternative to Riba — A Foundational Point
Islamic Banking
Murabaha
Ijara
Diminishing Musharaka
The Arguments Given in Its Defence
The Account of the People of the Sabbath
Seven short Urdu video clips from a talk on Islamic banking: watch the clips →
Islamic Banking 01 — summary of the first session
Murabaha
Ijara
Diminishing Musharaka
Capital Protected products
Alternative products
Arguments given by Islamic bankers