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Faiz ve Riba

This study offers an interpretation of riba, a transaction forbidden by Quran and Sunnah, in light of the historical context in which the corresponding verses were revealed. For as long as this transaction is understood without considering its relevant context or through its literal meaning, it not only leads to a fatal mistake, but also causes to miss the spirit and objective of Qur’an and Sunnah. Thus, our study takes the reader to the early periods of Islam in which there is a higher chance of understanding Quran and Sunnah much better and then explains how the prohibition of riba evolved in time from its original and prestigious position to something totally different. There is no doubt that this study is far from exhausting its topic, yet it is also undeniable that scientific development is realized by debating ideas as the famous Turkish proverb goes: the light of truth rises through the collusion of ideas. So, whether it be on the purpose of approval or on the purpose of objection, we wish that this study will receive the attention it deserves in the field of Islamic Economics.