What is Riba? see details

Question

Muslim scholars defined Ribaa (usury or interest) as the surplus of money a person receives in return for nothing when he exchanges something for something else. There are two kinds of Ribaa. The first one is Ribaa Al-Fadhl, which is taking a superior thing of the same kind of goods by giving more of the same kind of goods of inferior quality whether the things exchanged are food or something else. This kind is strictly forbidden in Sunnah and consensus.

The second kind is Ribaa An-Nasee'ah, which is an increase in the amount due, in return for a delay in payment.

Answer 1

Sis Maria Assalamualikum, & Jazakillahu khira 4 the details  

Lots of Muslims r least bothered about their banking system and saving money in the bank and getting interest or investing their money without knowing what kind of profit or dividends they getting from the bank. We should learn more about the current banking systems as it is part of our fardh knowledge (Compulsory) to prevent our self from Haram income.

Jazkillahu khira    

Answer 2

Ok thanks. ^^;

Answer 3

Can you pls tell me what happens in islamic banks...This is relevent in this subject and we all can learn...

Maria,i appreciate your concern and yes,i'll take care.