Verse 275 of Surah Al-Baqarah is one of the foundational verses of the Holy Quran that elucidates the prohibition of usury (riba) and its distinction from trade (bai). It encompasses scientific, jurisprudential, philosophical, mystical, and psychological perspectives. Due to its conceptual depth and complexity, this verse necessitates a multidimensional analysis that not only clarifies the religious rulings but also sheds light on its economic, social, and epistemological dimensions. In this work, employing a scientific and systematic approach, the content of the verse is examined from lexical derivation, jurisprudential, economic, and psychological viewpoints, and the epistemological and scientific challenges in understanding usury are critically analysed. The aim is to present a comprehensive and academic interpretation that serves specialists and researchers in religious and economic sciences.
The term riba originates from a root that, in classical lexicons, due to its phonetic similarity with other words such as rabb, rubu, raba, and raab, has caused semantic conflation. These words, owing to proximity in articulation points, possess related yet distinct meanings which require precise elucidation.
The word rubu (with a vowel 'waw' as a weak letter) signifies inflation, expansion, enlargement, and bursting, analogous to a seed that grows internally and whose shell splits. This meaning metaphorically likens usury to an unnatural growth in wealth, such as money that increases without genuine effort. Conversely, rabb (meaning "one who multiplies" or "nurtures") occurs more than 960 times in the Quran, denoting growth and cultivation towards perfection, which applies solely to God, such as in Rabb al-Alamin (Lord of the Worlds). The terms raba (hamzah on the ayn) and raab also pertain to elevation and growth but are distinct from riba.
The term rabb, meaning growth oriented towards perfection, is exclusively attributed to God, as He is the nurturer of all beings. In contrast, rubu refers to material expansion and inflation that can occur without perfection. For example, the earth swells with rain and wind, increasing its pores and cavities, or the human body expands in summer due to heat, similar to a ring tightening on a finger. These analogies liken usury to unnatural growth in wealth, which opposes the perfection-oriented growth implied by rabb.
Although parents participate in nurturing children, they are not rabb; they merely provide material grounds (rubu) for growth. Sometimes this upbringing is ineffective, leading to deficiency rather than perfection. Only God, Rabb al-Alamin, facilitates true, perfection-oriented growth for all creatures.
The derivational analysis of riba clarifies its distinction from similar Quranic terms. Usury denotes unnatural expansion and growth, differing fundamentally from rabb, which signifies perfection-oriented growth. This analysis provides a foundation for understanding the jurisprudential and economic dimensions of usury and demonstrates the Qurans linguistic precision in differentiating these concepts.
From a jurisprudential standpoint, usury is a complex subject; not every financial increment qualifies as usury. Islamic jurisprudence categorises rulings on usury into types such as makil (measured by volume), mawzun (weighed), and madud (counted). The advent of banknotes in modern economies has raised new questions: For instance, does a transaction involving giving 1000 tomans and receiving 900 tomans constitute usury? This question requires precise jurisprudential scrutiny due to the countable nature of banknotes.
Some religious scholars have extended rulings on usury to banknotes, which has occasionally led to market confusion. For example, attaching an additional item such as a sugar stick to a transaction to circumvent usury is irrational and lacks customary validity. Such approaches complicate economic understanding rather than resolving the issue.
Verse 275 of Surah Al-Baqarah clarifies the fundamental distinction between lawful trade and prohibited usury:
الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ذَلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا
Translation: "Those who consume usury will not stand except as one whom the Devil has driven to madness by [his] touch. That is because they say, 'Trade is [just] like usury.' But Allah has permitted trade and has forbidden usury."
Trade (bai) refers to commerce and exchange that engenders genuine growth within society, akin to an intravenous serum that nourishes the body. Conversely, usury causes unnatural inflation in wealth, similar to a serum injected subcutaneously that causes swelling and destruction. Trade acts as the driving force of the Islamic economy, advancing society through effort and endeavour, whereas usury merely augments the wealth of the possessor, thereby weakening society.
The Holy Quran condemns accumulation and hoarding (iktinaz) of wealth, since capital that does not circulate within society loses its utility, like buried gold. Usury, by focusing on increasing the wealth of individuals or groups instead of circulating it, becomes a burden rather than a benefit. This critique positions the usurious economy in opposition to the Islamic economy grounded in justice and social growth.
The jurisprudential and economic analysis of usury reveals that unlike trade, usury produces unnatural growth in wealth detrimental to society. Criticism of irrational jurisprudential approaches, such as attaching non-customary items to transactions, and emphasis on rationality in dealings underscore the need to revisit economic rulings. Islamic economics endorses trade and prohibits usury, aiming for social growth and economic justice.
Verse 275 of Surah Al-Baqarah characterises usury as a cause of psychological turmoil and madness: يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ. This assertion highlights usurys impact on individuals mental states and requires scientific elucidation. Contrary to the view that this effect is solely devotional, its validation necessitates rational argument rather than empirical experimentation. Usury incites greed and fixation on wealth increase without genuine effort, potentially leading to psychological chaos and moral deviation.
Unreasoned devotion holds no scientific value and cannot generate knowledge. Religion possesses a scientific and epistemological language, and faith, although valuable for the masses, is incomplete without intellectual underpinning. For instance, Ibn Sina, the genius of Islamic philosophy, resorted to devotion regarding bodily resurrection due to inability to comprehend it, stating: "It has been truthfully reported; I accept it." This example illustrates the value of devotion alongside the limits of reason.
Faith without knowledge suffices for ordinary individuals trusting their innate nature, but for religious explication in scientific environments, reasoning is indispensable. Both knowledge and faith are relative, with each individual possessing a degree of each. Some scholars possess knowledge without faith; others have faith without knowledge; and some have both.
Concepts such as jal (creation or fabrication, e.g., "creation of an apricot") and mahiyyah (essence) in traditional philosophy are unscientific and rooted in Aristotelian misconceptions. Ibn Sina regarded motion as intrinsic to matter, yet matter is compatible with various states (heat, cold). Early natural philosophers likewise considered the coolness of water intrinsic, whereas it depends on external factors. These critiques demonstrate the necessity to revise traditional concepts and replace them with scientific analyses.
The psychological and epistemological analysis of usury elucidates its destructive effects on the psyche and morality. Criticism of pure devotion and unscientific philosophical notions emphasises the necessity of reasoning and re-examination of traditional approaches. Faith and knowledge, in equilibrium, enrich religious epistemology.
Islam is a descriptive and prescriptive religion whose rulings harmonise with human reason and innate disposition. Revelation clarifies rulings where reason errs or is insufficient. For example, in verse 275 of Surah Al-Baqarah, affirming the permissibility of trade is somewhat superfluous as trade is naturally lawful; however, the prohibition of usury, due to some confusion equating it with trade, necessitates a prescriptive clarification.
To clarify the difference between trade and usury, one may consider the analogy of medical serum. Serum flowing intravenously nourishes the body, akin to trade which creates real growth. Conversely, serum injected subcutaneously causes swelling and disintegration, analogous to usury which increases wealth without genuine effort. This metaphor clearly illustrates the economic and social distinctions between trade and usury.
Though mudarabah (profit-sharing partnership) bears some similarity to usury, it is distinct due to shared profit and loss, reflecting the jurisprudential precision of Islamic economic relations.
Irrational transactions, such as selling assets at trivial prices or attaching non-customary appendages (like a sugar stick) to circumvent usury, are invalid. Valid custom alongside rationality constitutes the foundation of Islamic transactions. This critique rejects economic exploitation conducted under religious pretexts.
Islamic economics, by endorsing
