THE ABSENCE OF BANKS IS RIBA: A CRITICAL STUDY OF THE THOUGHTS OF THE FORMER EGYPTIAN MUFTI ALI GOMAA
Abstract
This research aimed to examine the former Egyptian mufti Ali Gomaa's argument that the absence of banks is the essence of riba. He theorized that the lack of banks was to blame for the inflation, just as riba can. In contrast, as we all know, the prohibition on riba is due to increased debt repayments. He went on to say that the mistake made by Muslim scholars in understanding bank interest as a form of riba was their dogmatic way of thinking, which equated money invested in bank financing with money owed. This study uses the arguments of former Egyptian mufti Ali Gomaa as primary and secondary sources to conduct critical research. In this case, the explanation is provided by a qualitative descriptive research design. Its purpose is to demonstrate the validity of former Egyptian mufti Ali Gomaa's argument for justifying that destroying the banks is equivalent to breeding riba. The study discovered that the statement by Egypt's Mufti Ali Gomaa was based on the bank's overall performance, specifically as an intermediary institution, where the bank's function is as a financing institution rather than a lending institution. Also, unlike debts and credits, where profit-taking is forbidden, it is perfectly legal to do so in any funding. Ali Gomaa's statement is a unilateral claim because banks channel money to customers for various reasons, including financing, investment, and debt purposes. Research-based recommendations are offered for adjustments required by stakeholders. Optimistically, the submission of this study will trigger a positive response from stakeholders.
References
Alamsyah, M. Y., & Al-Obaidi, K. (2023). Muhammad Sayyid Tantawi’s Interpretation of the Verses of Riba. Hanifiya: Jurnal Studi Agama-Agama, 6(1), 65–72. https://doi.org/10.15575/hanifiya.v6i1.17821
Ashafa, S. A. (2021). Riba (Interest) Between Reason and Revelation in Islam. Journal of Islamic Economic and Business Research, 1(2), 180–192. https://doi.org/10.18196/jiebr.v1i2.18
Dayyan, M., & Chalil, R. D. (2020). THE ATTITUDE OF MERCHANTS TOWARDS FATWA ON RIBA AND CONVENSIONAL BANK IN LANGSA. Share: Jurnal Ekonomi Dan Keuangan Islam, 9(1). https://doi.org/10.22373/share.v9i1.6372
Mehfooz, D. M., & Saqib, D. L. (2022). Ribā and Divine Laws – Does SharīᶜAh (Islamic Law) has the Same Approach?: An Analytical Legal Study. Al-Azhār, 8(01), Article 01. https://doi.org/10.46896/alazhr.v8i01.366
Mews, C. J., & Abraham, I. (2007). Usury and Just Compensation: Religious and Financial Ethics in Historical Perspective. Journal of Business Ethics, 72(1), 1–15.
O’Sullivan, M. (2020). Interest, Usury, and the Transition from “Muslim” to “Islamic” Banks, 1908–1958. International Journal of Middle East Studies, 52(2), 261–287. https://doi.org/10.1017/S0020743820000239
Putri, J. D., Paramesti, Z., & Ramadhan, M. F. (2022). Verses and Hadiths of Riba Prohibition. Journal of Indonesian Islamic Studies, 2(1), Article 1.
Q & A with the Grand Mufti of Egypt—Asharq al-Awsat English Archive 2005 -2017. (2007, July 14). https://eng-archive.aawsat.com/theaawsat/features/q-a-with-the-grand-mufti-of-egypt
Skovgaard-Petersen, J. (1997). The Fatwa on Savings Certificates. Brill.
Syarif, M. I. (2011). KONSEP RIBA DALAM ALQURAN DAN LITERATUR FIKIH. 2.
Tohari, C. (2019). The Difference Opinions Analysis on Conventional Bank Interest Law According to Ushul Fiqh. Jurnal Ilmiah Al-Syir’ah, 17(1), 1. https://doi.org/10.30984/jis.v17i1.795
Assa’idi, S. (2021). The growth of Pesantren in Indonesia as The Islamic Venue and
Social Class Status of Santri. Eurasian Journal of Educational Research, 2021(93), 425–40.https://doi.org/10.14689/ejer.2021.93.21
Iskandar. (2017). Improving the Quality of Academic Services through Implementation of Internal Quality Assurance System in State Institute of Islamic Studies STS Jambi. Journal of Education and Practice, 8(3), 57–63. Retrieved from www.iiste.org
Article Statistic
Abstract view : 0 timesPDF views : 0 times
Dimensions Metrics
How To Cite This :
Refbacks
- There are currently no refbacks.