Achieving social justice through the prohibition of interest: A fundamental intention of Islamic banking and finance

The aim of this text is to present the fundamental intention of Islamic law regarding the prohibition of interest, namely the realization of social justice. At the outset, the author states that one of the primary characteristics of Islamic finance is the prohibition of interest, and distinguishes between interest-free banking and banking that considers interest absolutely prohibited. The author presents the opinions of classical and contemporary economists and their perception of interest, as well as their theories of the justification of interest. On the other hand, the author emphasizes that Islam, as an inclusive and comprehensive system of life, based on the Revelation, is predicated on the categorical prohibition of interest with the aim of preventing the exploitation of people and the realization of social justice as a fundamental intention of Shari'ah.