Qazi Irfan

Murabaha Financing VS Lending on Interest Qazi Irfan

The legal and financial comparisons of Islamic Murabaha financing and conventional lending on interest banking practices, has never been convincing from either side, the Islamic advocates are failed in proving how they are different because the financial outlook of both transactions is the same and no legal inclusion can change this apparent similarity. The conventional proponents are also failed in justifying the charging of Interest which is prohibited in the holy scriptures of dominant Abrahamic religions (Islam, Christianity and Judaism). So as a matter of fact the contest of comparison is open without any resolve. In this book, the issue is seen from a higher philosophical level i.e., above its legal and financial build; accordingly a social and economic reasoning is found to differentiate the two transactions.