Interest, Usury and its Impact on the Economy (e-journal)

The element of interest or 'Riba' is an inseparable part of the economic activities in today's world. And perhaps it is one of the causes of the business cycles and fluctuations and a hurdle in the way of economic development especially in the third world countries. It is the rate of interest due to which money is treated as a commodity leading to the concentration of wealth in a few hands; and…