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All Journal Iqtishoduna: Jurnal Ekonomi Islam Academic Journal of Islamic Principles and Philosophy
Musahadi
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Religion Humanities Economics, Econometrics & Finance Social Sciences

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Critical Study of Bank Interest Using Double Movement Hermeneutics from the Perspective of Fazlur Rahman Nihayah, Ana Zahrotun; Musahadi; Muhlis; Rifqi, Lathif Hanafir
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 14 No. 1 (2025): April
Publisher : LPPM, Universitas Islam Syarifuddin Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54471/iqtishoduna.v14i1.2852

Abstract

This study discusses the practice of bank interest using the double movement hermeneutic approach developed by Fazlur Rahman. This approach consists of two main stages: first, reconstructing the social and historical context in which the verses on usury were revealed to understand the moral and sociological background of the prohibition; second, updating the universal moral values contained in the verses to make them relevant to modern life and economic system. This study uses a qualitative method with an in-depth literature study approach to the works of Fazlur Rahman, academic literature, and verses of the Qur'an related to usury. The results of the study show that bank interest cannot be classified as usury unless it contains elements of injustice and exploitation. In a modern profit-oriented financial system, interest is seen as a form of compensation for the risk and service of using funds. This insight has global relevance as the contemporary Islamic financial system continues to face challenges in bridging Shari'ah principles with the realities of the modern economy.
DIALEKTIKA TRADISI DAN MODERNITAS: IJTIHAD MUHAMMAD IQBAL DALAM MEMBENTUK HERMENUTIKA HADIS Hadziq, Abdulloh; Musahadi; Shodiq; Bistara, Raha; Rahmah, Mamluatur
Academic Journal of Islamic Principles and Philosophy Vol. 6 No. 2 (2025)
Publisher : UIN Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/ajipp.v6i2.12265

Abstract

This article aims to examine Muhammad Iqbal’s contribution to shaping a hermeneutical paradigm of hadith as a response to the stagnation of Islamic textual interpretation, which has often been rigid and ahistorical. Rooted in the realities of Islamic intellectual modernization and the influence of Western civilization, Iqbal proposes a hermeneutical approach to reconstructing hadith understanding in a more contextual, dynamic, and relevant manner for contemporary challenges. This study employs a qualitative method, utilising a library research approach, to explore Iqbal’s works and the thoughts of contemporary Islamic hermeneutics scholars. The main findings reveal that Iqbal not only distinguishes legal hadith from pre-Islamic traditions but also emphasizes the importance of dialogue between the text, its historical context, and modern audiences. Iqbal’s contribution lies in his assertion that hadith, as prophetic revelation, must be interpreted creatively and transformatively to produce a universal and humanistic form of Sharia. This study enriches hadith scholarship by positioning hermeneutics as a relevant interpretive method in the development of progressive Islamic thought.
Co-Authors Abdulloh Hadziq Bistara, Raha Mamluatur Rahmah Muhlis Nihayah, Ana Zahrotun Rifqi, Lathif Hanafir Shodiq