Interest Between Sharia and Capitalism
A Scientific and Historical Critique for Reinterpreting Riba in Contemporary Islamic Thought
تأليف : محمد عادل زكي
النوعية : الإقتصاد
This study examines the concept of interest as presented in modern economics, demonstrating that it is merely a reproduction of the usury (riba) explicitly prohibited by definitive texts in Islamic law. The research rejects attempts to separate interest from usury under the guise of "contemporary ijtihad," considering such efforts as expressions of intellectual defeat in the face of Western dominance. The study also exposes the profound transformation in capitalism’s structure from production to speculation, which has turned interest into a profit mechanism based on abstract time rather than labor or production, reinforcing the notion of money generating money by itself. Accordingly, the research calls for transcending the dependent economic discourse and restoring the foundational civilizational dimension of Islamic law as a liberating and just project that refuses to reduce humans to mere debtors or consumers.
This study examines the concept of interest as presented in modern economics, demonstrating that it is merely a reproduction of the usury (riba) explicitly prohibited by definitive texts in Islamic law. The research rejects attempts to separate interest from usury under the guise of "contemporary ijtihad," considering such efforts as expressions of intellectual defeat in the face of Western dominance. The study also exposes the profound transformation in capitalism’s structure from production to speculation, which has turned interest into a profit mechanism based on abstract time rather than labor or production, reinforcing the notion of money generating money by itself. Accordingly, the research calls for transcending the dependent economic discourse and restoring the foundational civilizational dimension of Islamic law as a liberating and just project that refuses to reduce humans to mere debtors or consumers.
المزيد...
