Interest rate versus profit rate in the light of Islamic maxim: al-ibratu fil uqūdi lil maqāsidi wa ma’ānī lā lil alfāzi wal mabani/ Saheed Abdullahi Busari, Haruna Babatunde Jaiyeoba and Mohamad Sabri Zakaria

• Main Authors: Busar, Saheed Abdullahi, Jaiyeoba, Haruna Babatunde, Zakaria, Mohamad Sabri
• Format: Article
• Language: English
• Published: Universiti Teknologi MARA Selangor 2022
• Subjects: Interest rates. Interest tables; Financial management. Business finance. Corporation finance
• Online Access: https://ir.uitm.edu.my/id/eprint/74898/1/74898.pdf; https://ir.uitm.edu.my/id/eprint/74898/; http://myjms.mohe.gov.my/index.php/JEEIR

The concept of interest and profit is as old as the history of commercial transactions because, in Jahiliyyah (ignorant) period, people transact business based on interest and sometimes for profit. These concepts are also not alien to conventional financial practice, except that many people cannot d...