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Riba |
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Riba The Arabic word for "excess," which is used as a byword for interest. The Quran explicitly prohibits Muslims to receive or take riba; many Muslims believe this forbids them from taking advantage of financial products based on interest. Because this removes most conventional products, Islamic finance was developed to offer an alternative, though critics contend these products still accumulate riba because they imitate "regular" finance. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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