Al-masharif: Jurnal Ilmu Ekonomi dan Keislaman
Vol 11, No 1 (2023)

Usury and Bank Interest in the View of Neo Revivalists and Modernists

Nurjannah Nurjannah (STAI Al Gazali Soppeng)
Muslimin Kara (STAI Al Gazali Soppeng)
Rahman Ambo Masse (UIN Alauddin Makassar)
M Afief Mubayyin (Universitas Muhammadiyah Palu)



Article Info

Publish Date
01 Jul 2023

Abstract

Al-Maududi and Abdullah Saeed are Muslim scholars. He contributed various thoughts in the field of economics, one of which is related to usury and bank interest. But there are differences of opinion between the two.  The purpose of this study is to look at the views of Al-Maududi and Abdullah Saeed regarding usury and bank interest. The method used is a literature study with a descriptive qualitative approach. Data sources come from secondary data sources, namely journals and books related to the discussion. The result of the research is that Al-Maududi firmly rejects bank interest because the institution is a source of danger and evil through its influence on human character because it is influenced by the love of money. In addition, Al-Maududi stated that there is an element of injustice in bank interest and it is clearly prohibited in Islam. While Abdullah Saeed views the prohibition of usury based on the historical situation and conditions behind the revelation of the verse, so related to bank interest Abdullah Saeed argues that bank interest is not included in usury because the context of usury in ancient times is very much different from usury today.   

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Journal Info

Abbrev

Al-masharif

Publisher

Subject

Religion Economics, Econometrics & Finance

Description

FOCUS This journal focused on Islamic Economic and contemporary developments through the publication of articles by research. SCOPE Al-Masharif specializes in Islamic Economic studies and is intended to communicate original research and current issues on the subject. This journal warmly welcomes ...