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What is Riba in Islamic Banking and Finance?

0 4 Views | Posted 2 months ago
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    Answered by

    Akansha Bisht | Contributor-Level 10

    3 months ago

    Riba is an Arabic word for interest paid on loan money or usury. The word riba, literally means excess or addition. Islamic Banking and Finance does not work on riba as it is prohibited under Islamic law.

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