The Objectives of the Prohibition of Riba By: Elhadi Habbani

Section three: The Objectives of the Prohibition of Riba:

It is very difficult, as mentioned in the introduction of this paper, to find comprehensive researches extracting the objectives of the prohibition of Riba and identify them clearly, because firstly, the notion of Objectives of Shariah in general is somewhat new science, and secondly extracting these objectives from Quran, Sunnah, and Fiqh is very difficult job need time, efforts, and cooperation.
Out of many papers I have gone through, I found that the paper "Maqasid al Shari’ah in the Prohibition of Riba and their Implications for Modern Islamic Finance by Dr. Monzer Kahf prepared for the IIUM International Conference on Maqasid al Shari’ah, August 8-10, 2006" is the first unique paper that identified eight essential objectives of prohibition of riba that really helps in creating new prospective Shariah permissible structured financing instruments. So these eight objectives will be the base of this section with some additional from some other references that supports the same opinions.

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