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Muslims refer to the interest or usury applied to loans, credit purchases or other kinds of deferred payments as riba. Riba is regarded as unethical and unfair to the borrower, and is clearly forbidden in Islam.

Definition of Riba

The Arabic word riba linguistically means “an addition to, or an increase of, a thing over and above its original size or amount.” In the Qur’an, the term riba signifies an unlawful and forced addition to the payback value of money or goods lent from one person to another.

Riba falls under two main categories: Riba An-Nasia, which is interest on lent money; and Riba Al-Fadl, which is the exchange of the same commodity but of unequal quality and quantity. (For example, trading dates of superior quality for a larger quantity of dates of inferior quality).

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