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Cont’d

Cont’d. Under Islamic law, riba can occur in two main situations 1. riba al duyun (loan): the riba or excess which occurs in debt and loan transactions because of extension/delay in repayment

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Cont’d

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  1. Cont’d • Under Islamic law, riba can occur in two main situations • 1. riba al duyun (loan): the riba or excess which occurs in debt and loan transactions because of extension/delay in repayment • 2. riba al buyu’(exchange): the riba or excess which occurs in trading transactions involving the exchange of riba-bearing commodities without observing the required rules

  2. Riba al Duyun (loan)

  3. Riba al Buyu’ (exchange)

  4. Gharar

  5. Prohibition of Gharar

  6. Prohibition of Gharar in the Sunnah

  7. Other things to be avoided..

  8. Shari’ah Compliance: Main Principles

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