In Saudi Arabia,the collection of interest on loans is forbidden because the legal system in Saudi Arabia is a(n)____ system.

Question

Quizplus · Accepted Answer

In Islamic law, collection of interest on loans is forbidden as it is considered as usury or ribaa. This is based on the prohibition of ribaa in the Quran, which is a fundamental principle in Islamic finance. Therefore, the legal system in Saudi Arabia, which follows Islamic law, prohibits the collection of interest on loans.

In Saudi Arabia,the Collection of Interest on Loans Is Forbidden