Riba
/ˈriːbɑː/
Definitions
- (n.) An Islamic legal term referring to the concept of usury or unjust, exploitative gains in trade or business, especially through excessive interest on loans, prohibited under Sharia law.
The lender was accused of charging riba, which is forbidden in Islamic finance.
Commentary
Riba is a key concept in Islamic finance law, emphasizing the prohibition of interest to ensure ethical economic transactions in accordance with religious principles.