Perspectives of Quraish Shihab and Yusuf Qaradhawi on Usury and Interest in the Context of Islamic Finance
This research explores the perspectives of Quraish Shihab and Yusuf Qaradhawi on the concepts of usury and interest in the context of Islamic finance. Through a literature review methodology, the study provides a descriptive analysis of their viewpoints as presented in various sources, such as books...
Saved in:
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Muhammadiyah University Press
2024-02-01
|
| Series: | Journal of Islamic Economic Laws |
| Subjects: | |
| Online Access: | https://journals2.ums.ac.id/index.php/jisel/article/view/3189 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1849320239894888448 |
|---|---|
| author | Dedeng Sehabudin Lamlam Pahala Sri Rahayu Kurganov Maksim Vladimirovich |
| author_facet | Dedeng Sehabudin Lamlam Pahala Sri Rahayu Kurganov Maksim Vladimirovich |
| author_sort | Dedeng Sehabudin |
| collection | DOAJ |
| description | This research explores the perspectives of Quraish Shihab and Yusuf Qaradhawi on the concepts of usury and interest in the context of Islamic finance. Through a literature review methodology, the study provides a descriptive analysis of their viewpoints as presented in various sources, such as books, scholarly works, and related literature. Quraish Shihab's perspective revolves around the intrinsic injustice associated with prohibited usury. He contends that usury involves elements of oppression, exploitation, and duplication, emphasizing the simultaneous taking of excess with debt. Quraish Shihab's view positions usury as a system that perpetuates injustice through its exploitative nature. In contrast, Yusuf Qaradhawi offers a different interpretation, characterizing bank interest as an additional value determined by the payer. Yusuf Qaradhawi introduces a pragmatic dimension by highlighting that, in the case of non-repayment, the debt's amount increases at the specified payment time. This perspective suggests a more flexible approach, where interest is seen as a consequence of delayed repayment rather than an inherently unjust practice. In analyzing the abstractions presented by both scholars, this research unravels the complexities within Islamic finance. It reveals the nuances between Quraish Shihab's emphasis on the inherent injustice of usury and Yusuf Qaradhawi's more practical approach, considering interest as a result of delayed repayment. Through this comparative study, the research contributes to a more comprehensive understanding of the diverse perspectives within the Islamic financial framework. |
| format | Article |
| id | doaj-art-217bbba54e5342bcbc57dae6a81edc9d |
| institution | Kabale University |
| issn | 2655-9609 2655-9617 |
| language | English |
| publishDate | 2024-02-01 |
| publisher | Muhammadiyah University Press |
| record_format | Article |
| series | Journal of Islamic Economic Laws |
| spelling | doaj-art-217bbba54e5342bcbc57dae6a81edc9d2025-08-20T03:50:11ZengMuhammadiyah University PressJournal of Islamic Economic Laws2655-96092655-96172024-02-01701183510.23917/jisel.v7i01.31894377Perspectives of Quraish Shihab and Yusuf Qaradhawi on Usury and Interest in the Context of Islamic FinanceDedeng Sehabudin0Lamlam Pahala1Sri Rahayu2Kurganov Maksim Vladimirovich3Sekolah Tinggi Agama Islam Siliwangi GarutSekolah Tinggi Agama Islam Siliwangi GarutSekolah Tinggi Agama Islam Siliwangi GarutRussian Presidential Academy of National Economy and Public AdministrationThis research explores the perspectives of Quraish Shihab and Yusuf Qaradhawi on the concepts of usury and interest in the context of Islamic finance. Through a literature review methodology, the study provides a descriptive analysis of their viewpoints as presented in various sources, such as books, scholarly works, and related literature. Quraish Shihab's perspective revolves around the intrinsic injustice associated with prohibited usury. He contends that usury involves elements of oppression, exploitation, and duplication, emphasizing the simultaneous taking of excess with debt. Quraish Shihab's view positions usury as a system that perpetuates injustice through its exploitative nature. In contrast, Yusuf Qaradhawi offers a different interpretation, characterizing bank interest as an additional value determined by the payer. Yusuf Qaradhawi introduces a pragmatic dimension by highlighting that, in the case of non-repayment, the debt's amount increases at the specified payment time. This perspective suggests a more flexible approach, where interest is seen as a consequence of delayed repayment rather than an inherently unjust practice. In analyzing the abstractions presented by both scholars, this research unravels the complexities within Islamic finance. It reveals the nuances between Quraish Shihab's emphasis on the inherent injustice of usury and Yusuf Qaradhawi's more practical approach, considering interest as a result of delayed repayment. Through this comparative study, the research contributes to a more comprehensive understanding of the diverse perspectives within the Islamic financial framework.https://journals2.ums.ac.id/index.php/jisel/article/view/3189bank interest, comparison, usury |
| spellingShingle | Dedeng Sehabudin Lamlam Pahala Sri Rahayu Kurganov Maksim Vladimirovich Perspectives of Quraish Shihab and Yusuf Qaradhawi on Usury and Interest in the Context of Islamic Finance Journal of Islamic Economic Laws bank interest, comparison, usury |
| title | Perspectives of Quraish Shihab and Yusuf Qaradhawi on Usury and Interest in the Context of Islamic Finance |
| title_full | Perspectives of Quraish Shihab and Yusuf Qaradhawi on Usury and Interest in the Context of Islamic Finance |
| title_fullStr | Perspectives of Quraish Shihab and Yusuf Qaradhawi on Usury and Interest in the Context of Islamic Finance |
| title_full_unstemmed | Perspectives of Quraish Shihab and Yusuf Qaradhawi on Usury and Interest in the Context of Islamic Finance |
| title_short | Perspectives of Quraish Shihab and Yusuf Qaradhawi on Usury and Interest in the Context of Islamic Finance |
| title_sort | perspectives of quraish shihab and yusuf qaradhawi on usury and interest in the context of islamic finance |
| topic | bank interest, comparison, usury |
| url | https://journals2.ums.ac.id/index.php/jisel/article/view/3189 |
| work_keys_str_mv | AT dedengsehabudin perspectivesofquraishshihabandyusufqaradhawionusuryandinterestinthecontextofislamicfinance AT lamlampahala perspectivesofquraishshihabandyusufqaradhawionusuryandinterestinthecontextofislamicfinance AT srirahayu perspectivesofquraishshihabandyusufqaradhawionusuryandinterestinthecontextofislamicfinance AT kurganovmaksimvladimirovich perspectivesofquraishshihabandyusufqaradhawionusuryandinterestinthecontextofislamicfinance |