What is Riba?

An authoritative work on the most misunderstood term in Islamic economics By IQBAL AHMAD KHAN SUHAIL “No book other than this one is more authoritative and comprehensive on the issue.” — Al-Mazahib monthly, Lahore “It is possible to disagree with the author's theory of Riba, but he has put across his points of view very authoritatively, backed by proofs which cannot at all be refuted.” — Weekly Nai Duniya, New Delhi “In view of the importance and usefulness of the book, its study is necessary for the social and economic welfare of the Muslim community. Presence of this book in the libraries of our schools and colleges will be very useful.” — Daily Salar, Bangalore “This book will certainly help in the research and arrival at a consensus about the issue of Riba.” — Monthly Ma'arif, Azamgarh A number of works deal with the issue of riba (usury) in Islam, but none of them is as comprehensive as this work which first appeared in 1936. This new edited version, together with Arabic and English translations, has been brought out in order to enrich the debate on this vital issue. The author, Allamah Iqbal Suhail (d. 1955), was a highly learned scholar of Islam and had deep knowledge of modern issues. He is known in the Subcontinent as a distinguished Urdu poet, freedom fighter and lawyer. With this background, he was most suited to deal with religious issues in the light of the requirements of the modern age. Allamah Suhail discusses the opinions of the fuqaha in detail and shows that they confused riba with muratala (barter) and sarf (exchange) which have little to do with riba. He shows that riba concerns only the bai al-salaf (credit/deferred) transactions. After a thorough discussion of the Islamic texts on the issue, Suhail puts forward his authoritative definition of riba and where it is applicable.