Do you want to have information about Riba According To Shariat Court Of Pakistan? If yes then on this page, we will tell you about the complete concept about riba. You should know that there is a clear cut difference right between the concept of interest and this concept of riba. First we will talk about the literal meaning of this concept of interest or you can say Al-RIBA, it has been used right in the Arabic language, it has the meaning of excess or it has this meaning of increase. If we explain this term according to the Islamic terminology then interest has this meaning, it means the effortless profit or you can say that profit that actually comes free right from some compensation, you can say that it is an extra earning that has been obtained and received as free of exchange.
This riba is a kind of loan, this loan comes with the condition that any of the borrower has to return this loan to the lender better in terms of quantity which already been borrowed before. This riba is the subject that comes without trade and without the subject of commerce.
We know that Islam has given large amount of recognition to trade as well as to commerce. It is marked and considered as a lawful profession and a moral duty. This Islam has put forward and laid down a number of rules and a complete set of rules which are linked with riba. This tiba concept tells us about the halal earning concept. Interest is illegal but riba is legal. That Muslim will be counted as one of the unforgettable sinners if he or she will give and take interest.
Riba According To Shariat Court Of Pakistan
That is why in Pakistan, many of the banks and many of the loan giving firms and organizations, they have came up with these interest free loan schemes. These organizations and banks are now working on interest free loan scheme basis. You can stay in tuned with us and we will let all readers to know more and further about this Riba According To Shariat Court Of Pakistan. If some changes will be made in this Riba area by the Shariat Court Of Pakistan, we will let you know.
