Prohibition of interest and Islam

By Islamic law, all forms of interest are banned. Interest is neither commerce nor a profit; it is therefore unallowed. The institution of interest acts to exploit resources and to keep them concentrated in few hands. Seven verses of al-Qur'an refer to the nature of riba . The Prophet addressed the matter of interest in his farewell pilgrimage address. Loans, when given without interest, can be equivalent to charity. Interest makes a person covetous and takes away from his sense of security. Concern for other people is also taken away from. While interest-free consumption loans are devoid of riba for humane purposes, business loans bear no interest out of a sense of justice. Risks in ventures are to be shared fairly. Riba is of many sorts, and the word riba stands for more than just interest. All exploitative practices come under the umbrella of riba. In the riba of al-Qur'an, there are three aspects of the institution: 1. The lending of some exchangeable commodity; 2. High