Despite its harmful effects on personal levels, riba could have positive implications on the state level evidenced by the economic welfare witnessed in the majority of Western countries.

Question

Quizplus · Accepted Answer

Riba (interest or usury) is considered harmful in Islamic finance due to its exploitative nature and potential to lead to economic inequality, and its effects are not distinguished between personal and state levels in Islamic teachings. Economic welfare in Western countries is attributed to a variety of complex factors, not solely the practice of charging interest.

Despite Its Harmful Effects on Personal Levels, Riba Could Have