A theological examination of the religious teaching on ''usury'' within the three monotheistic traditions of Judaism, Christianity and Islam and its relevance for the World today (Ph.D Thesis)

This thesis examines teachings on and definitions of usury found within the Holy Scriptures of Judaism, Christianity, and Islam. Religious teachings on usury had a different effect on the economic development within each community. Judaism regarded any percentage taken as profit on a loan as usurious, and an internal and external economic system developed which distinguished between followers and non-followers. Christianity gradually interpreted 'usury' to allow for the receiving of compensation for loss or gain in risk-sharing partnerships. Islamic teachings fall between capitalism and socialism, and strictly prohibit usury (Riba). Within the frameworks of the sunna and Qur'anic teaching, a system of Islamic banking evolved which incorporates interest-free lending. In each of these traditions profit-and-loss-sharing and contractual partnerships developed. Interest-free financial systems are suggested in this context to more fairly redistribute wealth and alleviate poverty. _x000D_